OTTAWA – A drop in gas prices slowed Saskatchewan’s inflation rate in January. Statistics Canada reported Thursday the annual inflation rate was 1.4 per cent last month, down three-tenths of a percentage point from December.
The drop was due to slumping gas prices, with the price at the pump down 24.8 per cent from January 2014. Fuel oil costs were also down 20.1 per cent from a year ago.
READ MORE: Gas prices are rising across the country — and will likely jump further
If you thought you were paying more for food last month, you’re right. Meat prices were up 16.8 per cent from January 2014, with fresh fruit up 9.4 per cent and fresh vegetables up 7.4 per cent.
READ MORE: Fresh food prices are spiking at Canadian supermarkets
Shelter costs were up 3.1 per cent, led by higher costs for homeowners insurance and rent. Smokers also saw a 5.9 per cent yearly increase in the cost of tobacco products.
Nationally, the annual inflation rate slowed to 1.0 per cent following an increase of 1.5 per cent in December.
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