Saskatchewan Inflation Remains Low Due to Removal of Carbon Tax
Consumer Price Index Increase Remains Second Lowest in the Nation
Saskatchewan’s Consumer Price Index (CPI) rose by only 1 per cent in April 2024 over April 2023. This marks the second lowest increase among the provinces and sits far below the national average of 2.7 per cent.
“Removing the Carbon Tax from home heating is helping our province tackle inflation,” Deputy Premier and Minister of Finance Donna Harpauer said. “Our government will always fight for the people of Saskatchewan and stand up against policies that hurt our province.”
The CPI measures changes in the price of goods and services over time. Inflation is indicated by the growth of CPI, which helps assess changes to the cost of living. An individual’s ability to buy goods and services is affected by changes in income and prices.
Saskatchewan continues to see strong economic outcomes, with the province’s exports totaling over $101.9 billion for 2022 and 2023 combined. This is a 52.2 per cent increase from the previous two-year period of 2020-2021, which saw $66.9 billion in total exports.
Private capital investment is projected to reach $14.2 billion in 2024, an increase of 14.4 per cent over 2023. This is the highest anticipated percentage increase in Canada.
The Government of Saskatchewan also recently unveiled its new Securing the Next Decade of Growth – Saskatchewan’s Investment Attraction Strategy. This strategy combined with Saskatchewan’s trade and investment website, InvestSK.ca, contains helpful information for potential markets and solidifies the province as the best place to do business in Canada.
For more information visit: InvestSK.ca
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