NS records highest inflation in Canada for sixth consecutive month
Posted Jul 22, 2011 12:26:22 PM.
This article is more than 5 years old.
Once again, Nova Scotia recorded the highest inflation rate in the country. June was the sixth consecutive month our province saw the highest increase in everyday prices.
Statistics Canada Analyst Jean Le Mullec tells news 95.7 soaring gas prices drove inflation all across the country. But there’s one energy form in particular affecting our province.
“Fuel oil,” he says. “Consumers in Nova Scotia and households in general spend a much larger portion of their income on fuel oil and other fuel relative to the Canadian population on average.”
Nova Scotia Finance Minister Graham Steele admits the constant increase in inflation is a concern, but he doesn’t think the trend will continue much longer.
“Obviously it’s of considerable concern considering that what is driving (inflation) is food and energy costs which are two fundamental things to any household,” Steele says.
Canada’s inflation rate in June was 3.1%; Nova Scotia’s was 4.4%.
