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Consumer price index jumps 4.2 per cent in Yellowknife

The Yellowknife all-items consumer price index (CPI) rose by 4.2 per cent for the month of October compared to a year ago, according to data that Statistics Canada released on Nov. 17.
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October saw a 4.2 per cent increase from October 2020 for Yellowknife’s all-items consumer price index, according to information provided by Statistics Canada. The reason for the increase is being attributed largely to spikes in gasoline and fuel oil prices. Photo courtesy of Yellowknife Co-op Ltd.

The Yellowknife all-items consumer price index (CPI) rose by 4.2 per cent for the month of October compared to a year ago, according to data that Statistics Canada released on Nov. 17.

By comparison, CPI rose 4.7 per cent nationally, 4.9 per cent in Whitehorse and 2.1 per cent in Iqaluit.

Gasoline was the main contributor to the increase in all provinces and in Whitehorse.

For Yellowknife, fuel oil and other fuels were the main contributor to the increase, rising by 47.9 per cent year over year, compared to 25.4 per cent for gasoline.

The rise in Yellowknife gasoline prices between October 2020 and October 2021 contributed to the increased cost of private transportation by 8.1 per cent.

As well, higher prices for fuel oil and other fuels contributed to the increase in shelter by 4 per cent.

Prince Edward Island experienced the highest CPI increase at 6.6 per cent while Saskatchewan had the lowest 3.2 per cent.