OTTAWA – Lower gas prices drove down Saskatchewan’s inflation rate in February, however food and housing prices were up. Figures Friday from Statistics Canada said the yearly inflation rate in the province last month was 1.2 per cent, down two-tenths of a percentage point from January.
Gas prices were down 21.3 per cent from February 2014. That was offset by a 3.4 per cent increase in food prices and a 3.1 per cent jump in shelter costs. Overall, prices were up in seven of the eight major components.
Meat prices continued to climb, up 15.6 per cent, with fresh vegetables jumping 5.9 per cent and fresh fruit up 2.0 per cent.
Increased shelter costs were led by a 7.2 per cent increase in utility costs. The cost of home insurance was up 6.0 per cent.
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Excluding gas, the consumer price index rose 2.4 per cent on a year-over-year basis in Saskatchewan.
The national inflation rate for February was 1.0 per cent.
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