New figures for the Consumer Price Index in Yellowknife suggest fuel oil has dropped to its cheapest price in five years.
Late last week, the NWT Bureau of Statistics released its analysis of data for October regarding the price of goods in Yellowknife.
The bureau says the cost of many items has increased significantly year-on-year. For example, the average cost of food is up 5.1 percent on October 2014; education and reading is up five percent; and clothing and footwear rose 3.6 percent.
In full: NWT Bureau of Statistics data on Consumer Price Index (pdf)
However, the cost of fuel oil and other fuels has dipped a dramatic 22.1 percent in just one year. Gasoline prices have also dropped, by the smaller margin of 9.1 percent.
While the price of fuel oil rebounded a little – an increase of 2.8 percent – from September to October this year, the NWT Bureau of Statistics says these still represent “the lowest prices since winter 2010” for the territory.
Overall, the Consumer Price Index for Yellowknife has risen exactly two percent year-on-year. Though slightly different methodologies are used, that compares broadly with one percent across Canada as a whole, 1.5 percent in Edmonton, and just 0.2 percent in Whitehorse.