In August, Statistics Canada's Consumer Price Index (CPI) reported a two-per cent year-over-year increase, the slowest growth rate since February 2021, down from 2.5 per cent in July.
Related Stories:
- Alberta's minimum wage is tied for lowest in Canada
- Airdrie's youth face steep challenges in summer job hunt
According to the report, this was primarily attributed to a decline in gasoline prices, which fell by 5.1 per cent compared to the previous year, influenced by lower crude oil prices and reduced demand. However, while gasoline prices contributed significantly to the overall inflation deceleration, the costs associated with mortgage interest and rent remained the most significant contributors to the CPI increase.
The report said that while the clothing and footwear sector experienced a rare decline, with prices decreasing by 0.6 per cent month-over-month, grocery prices saw an increase of 2.4 per cent year-over-year, driven by higher costs for dairy and fresh fruit. However, it was also noted that month-over-month grocery prices slightly decreased by 0.2 per cent, primarily due to a typical seasonal decline in fresh vegetable prices. But how do Airdrie residents feel?
Recently, DiscoverAirdrie asked residents what has become too expensive to buy, and many expressed growing frustration with the rising costs of nearly everything, from necessities to leisure activities.
Common concerns include skyrocketing grocery prices, especially for meat, fruit, and essential household items. Many also feel the pinch at the pump, with gas prices making even simple drives or vacations unaffordable.
Housing, utilities, and insurance are also frequent complaints, with some pointing out that even national park visits or concert tickets are becoming out of reach. The sentiment is widespread, with several respondents noting that "everything" seems more expensive now, making daily life increasingly difficult to manage.
Social organizations, including local food banks, have also observed the rising living costs. Airdrie's Food Bank has often commented on the growing demand for their services. According to Food Banks Canada, in 2023, in Alberta alone there were 174,311 visits to food banks across the province, marking a 11.9 per cent change in total visits when comparing 2022-20223 and a 94.1 per cent change in total visits when comparing 2019 - 2023.
Sign up to get the latest local news headlines delivered directly to your inbox every afternoon.
Send your news tips, story ideas, pictures, and videos to news@discoverairdrie.com. You can also message and follow us on Twitter: @AIR1061FM.
DiscoverAirdrie encourages you to get your news directly from your trusted source by bookmarking this page and downloading the DiscoverAirdrie app.