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Consumer Prices Rise Despite GST Cut

December 05, 2006 Written by  Canadian Garden Centre
Consumer prices actually increased by a 10th of a percentage point in July, despite the one percentage point cut in the GST that went into effect on Canada Day.
Consumer prices actually increased by a 10th of a percentage point in July, despite the one percentage point cut in the GST that went into effect on Canada Day.

According to Statistic Canada, higher prices for gasoline, fresh fruit and other items were enough to cancel out the benefit from the lower GST.

Gasoline was the main culprit, rising 4.6 per cent over the month. Fresh fruit prices shot up 7.4 per cent.

Gasoline prices were also the biggest driver in the year-over-year rise in the cost of living. Prices at the pump were, on average, more than 16 per cent higher than they were a year earlier.

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