Getting more expensive to live in Yellowknife

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The cost of living in Yellowknife continues to increase.

The NWT Bureau of Statistics released information yesterday that states that the cost of all consumer goods in Yellowknife has risen by 2.5% compared to one year ago.

By comparison, the annual price increase was 1.7% for Canada, 1.6% for Edmonton, 1.5% for Whitehorse and 2.4% for Iqaluit.

When compared to November 2017, prices rose in Yellowknife for all major components with the largest increase being housing, rising by 3.9% over the last 12 months.

The report states the increase in housing prices can be attributed in part to the 4.6% rise in the water, fuel and electricity subcomponents.

Other price increases include fuel oil & other fuels which increased by 10.2% over the past 12 months as well as gasoline prices which increased by 13.8% in Yellowknife. This was the highest increase in Canada, with many of the provinces experiencing a decline in gasoline prices over the last 12 months.

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