Higher Prices in Saskatchewan
Written by Drew Medve on Monday, 25 August 2014
Despite inflation rates slowing nationally in July, Saskatchewan’s prices rose at faster rates compared to June.
Canada’s inflation rate slowed point 3 percent to 2.1 percent during the month of July.
The drop is surprising when strong consumer spending and the consistent rise from the past 3 years are taken into consideration
Despite the drop, prices continued to rise throughout the province and country.
In Canada, gasoline went up 2.1 percent, meat went up 9.3 percent and cigarettes are nearly 11 percent higher.
June was the sixth consecutive month of rising consumer spending in Canada, and the increase may not mean good news to Canadians.
Consumer debt is also at a high at 1 dollar and 63 cents, meaning for every dollar Canadians earn, 1 dollar and 63 cents is owed to banks, credit cards, auto dealerships and other lenders.
Experts are also seeing a rise in consumer borrowing, a trend June’s retail numbers seem to support.
Majority of the $42.6 billion dollars Canadians spent in June was on lawn care goods, summer clothing and other general merchandise.
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