For the second month in a row, British Columbia recorded no year-over-year inflation in January, announced Statistics Canada February 21, while across Canada, consumer prices increased 1.5% over the same period.
Prices remained flat in B.C. partly because of the removal of the HST in April 2013, making some products and services no longer subject to taxation or being taxed at 5% PST versus 12% prior to the change.
Over the 12 months leading to January, Prince Edward Island saw the biggest jump in inflation, with a 3.2% increase.
The growth in consumer prices across the country was due in large part to increased shelter costs, which jumped 2.1%. Electricity costs were up 4.7% over the same period, after increasing 4.1% in December.
Other drivers behind the increase Canada-wide were rent (up 1.6%) and homeowners and mortgage insurance costs (up 5.4%).
Compared with one month prior, B.C. prices did see a small increase – Canada’s lowest, tied with Newfoundland and Labrador – of 1% in January. The only province to see a decrease over this period was New Brunswick, down 0.1%.
Countrywide, consumer prices grew 0.3% over the month.
Nova Scotia and Alberta saw the highest levels of inflation in January compared with December, as both provinces saw increases of 0.6%.
