April 16, 2024
Statement from Finance Minister Adrien Sala on Manitoba Having the Lowest Inflation in Canada for the Third Straight Month
Today’s Statistics Canada report once again shows that Manitoba has the lowest inflation rate in the country, which is welcome news for Manitoba families. We know that for too long, Manitobans were reaching deeper into their savings to cover their monthly expenses, which is why one of the first things we did was cut the provincial gas tax, saving you 14 cents a litre every time you fill up. This decision has had a direct impact on inflation in Manitoba.
For the third straight month, our province’s inflation was the lowest in Canada. Manitoba’s inflation rate in March was 0.8 per cent year-over-year, compared to 2.9 per cent nationally.
While Canadians filling up at the pumps experienced a 4.5 per cent increase in gas prices year-over-year, prices declined by 10.6 per cent in Manitoba.
For seven years, the previous government found new ways to raise costs on Manitobans, whether it was Hydro rate increases or raising rents. We’re taking real action to lower costs for families across the province, no matter where they live.
Despite the decrease in inflation, we know Manitobans are still dealing with high costs and high interest rates, which is why in Budget 2024, we introduced 21 new ways to save money, including a $1,500 Homeowners Affordability Tax Credit, a broad middle class tax cut and an increased tax credit for renters. We’re providing help for you and for those who need it most.
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