Residents of British Columbia saw inflation rise 2.2 per cent between October 2018 and October 2019 according to new statistics (Black Media Press File).

British Columbians pay more for goods and services than most other Canadians

Year-to-year inflation rate up 2.2 per cent in October second-highest rate in Canada

Inflation in British Columbia has outpaced inflation in many other parts of Canada during the last year, according to new statistics.

The Consumer Price Index (CPI) rose 2.2 per cent in October 2019 compared to October 2018, according to Statistics Canada. By comparison, the national inflation rose 1.9 per cent during the same period. British Columbia was among three provinces which saw increases of 2.2 per cent. Only Quebec recorded a higher increase with 3.2 per cent.

RELATED: B.C. pushes for greater industry ‘transparency’ in gasoline pricing

Two factors mainly contributed to the increase: the cost of housing and the cost of owning a vehicle. Mortgage interest rates rose seven per cent, while rent rose 3.7 per cent. Passenger vehicle insurance premiums rose nine per cent, while the cost of vehicle purchases rose 1.8 per cent. This said, the cost of gasoline dropped 6.7 per cent.

Internet and telephone services also cost less this October compared to October 2018, dropping 7.9 per cent and 3.8 per cent respectively.


Like us on Facebook and follow @wolfgang_depner

wolfgang.depner@peninsulanewsreview.com

Get local stories you won't find anywhere else right to your inbox.
Sign up here

Comments are closed

Just Posted

Plans for pot shop in Sidney spark back to life

Changing provincial regulations could clear the way for Sidney’s first ever pot shop

Langford residents concerns rise over proposal for two 11-storey buildings

Group calls for more green space, independent traffic feasiblity study

Falling oak tree causes minor damage to Langford home

Tree damages garden and gutters of home on Lindsay Place

VIDEO: Dashcam footage shows Victoria police-involved crash

Video shows VicPD officer strike another vehicle at intersection

Greater Victoria Crime Stoppers wanted list for the week of July 7

Greater Victoria Crime Stoppers is seeking the public’s help in locating the… Continue reading

POLL: Would you get a vaccine for COVID-19 when it is available?

With the number of positive COVID-19 tests skyrocketing across much of the… Continue reading

Ex-Okanagan Mountie forfeits 20 days’ pay after sexual misconduct review

A former Vernon RCMP constable made sexual comments, grabbed genitals of male officer in two incidents 10 years ago

Man found dead on Okanagan trail identified as Hollywood actor

GoFundMe campaign launched for man found dead at summit of Spion Kop

3 people dead in Prince George motel fire

Fire personnel believe the blaze was suspicious although investigation in early stages

B.C. sets terms to review police, mental health, race relations

MLAs to recommend Police Act changes by May 2021

Feds announce $8.3M to deal with ‘ghost’ fishing gear in B.C. waters

Ghost gear accounts for up to 70 per cent of all macro-plastics in the ocean by weight

Most Read