Saskatchewan saw a 1.5 per cent increase in the Consumer Price Index (CPI) in May 2024 compared to May 2023. This has continued the trend of the Saskatchewan ranking among the lowest CPI growth compared to 2.9 per cent across Canada.
"Our government will continue to stand up for Saskatchewan with the elimination of the carbon tax on home heating as a significant measure in the fight to tackle inflation," Minister of Trade & Export Development Jeremy Harrison said. "The federal carbon tax negatively impacts the interests of this province and the people who live here. Our priority will always be the defence of our economic well-being against the out-of-touch federal Liberal/NDP coalition government."
The CPI is used to track the price of goods and services over time. It is also used to assess inflation, changes to the cost of living, and if the ability of individuals to purchase goods and services is affected by changes in income and prices.
Statistics Canada’s latest Gross Domestic Product (GDP) numbers indicate that Saskatchewan’s 2023 hit a record of $77.8 billion, increasing by $1.2 billion, or 1.6 per cent. This increase makes Saskatchewan the second highest for GDP growth, and above the national average of 1.2 per cent.
The province’s exports totaled over $101.9 billion for 2022 and 2023 combined. This marks a 52.2 per cent increase from the previous two-year period which saw $66.8 billion in total exports.
Private capital investment are projected to reach $14.2 billion in 2024, which is a 14.4 per cent increase from 2023.
These economic indicators reflect Saskatchewan’s current economic trends and highlight its position in the broader Canadian economic landscape.