Inflation jumped by 2.4 per cent in July compared to a year ago in Yellowknife, according to Statistics Canada's latest Consumer Price Index.

By comparison, annual prices increased by 2.5 per cent for Canada.

In Yellowknife, year-over-year consumer prices in July rose at 3.4 per cent for food and 5.2 per cent for shelter.

"Since peaking in early 2023, the year-over-year Yellowknife inflation rate for food has steadily declined. In contrast, the Yellowknife inflation rate for shelter has trended upward since mid-2023," according to the NWT Bureau of Statistics.

"Looking at energy and its components, both gasoline and fuel oil and other fuels declined by 1.2 per cent and 0.3 per cent, respectively, over the last 12 months," it adds.

The cost of electricity rose by eight per cent in July, compared to a year ago. Meanwhile, household furnishings spiked by 8.8 per cent compared to last year.

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