As of August, consumer prices in Yellowknife rose by about 1.1 per cent compared to one year ago, according to data tracked by Statistics Canada.

Year-over-year consumer prices rose in five major components in the NWT capital. Notable examples include shelter, health and personal care and food.

However, some of those components are actually on a downward trend more recently. Compared to July 2024, the cost of food in Yellowknife declined, albeit by about half a per cent. The cost of shelter stayed about the same in that one month time span.

Health and personal care ended up jumping a little more than one per cent month to month even though it declined year over year.

"Looking at energy and its components, both gasoline and fuel oil and other fuels declined by 2.4 per cent and 14.9 per cent, respectively, over the last 12 months. In contrast, electricity prices rose 7.6 per cent between August 2023 and August 2024," the NWT Bureau of Statistics stated in its analyses of the data.

The cost of fuel oil and other fuels peaked last November. Other items that declined in cost include clothing and footwear, household operations and furnishings as well as transportation.

Nationally, the increase was two per cent. Inflation increased for all provinces in August compared to a year ago. In Edmonton, it came in at 1.7 per cent while Iqaluit stood at 1.2 per cent and in Whitehorse the measure was 1.4 per cent year over year.   

The next consumer price index comes out on Oct. 15.