Consumer prices in Alberta rose faster than the Canadian average in October, according to Statistics Canada.

The federal agency reported on Wednesday that the Consumer Price Index in the province rose by 0.5 per cent from September to October while Canada overall saw a hike of 0.3 per cent.

On a year-over-year basis, prices in Alberta were up by 1.6 per cent while the country overall rose by 1.9 per cent.

StatsCan said the annual increase in October, matched the increase in August and in September. Excluding gasoline, the CPI rose 2.3 per cent following three consecutive monthly increases of 2.4 per cent.

“On a year-over-year basis, consumers paid 6.7 per cent less for gasoline in October following a 10.0 per cent decline in September. Although global demand for oil remained low in October, there were slight price increases on a monthly basis amid temporary supply disruptions in the Middle East, and a decline in crude oil inventories in the United States,” said the federal agency.

“Natural gas prices rose 3.3 per cent year over year after increasing 5.8 per cent the previous month. This slowdown occurred as utilities in Ontario and Quebec revised commodity prices to reflect low current and forecasted natural gas prices in North America.”

Mario Toneguzzi is a business reporter in Calgary.

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