Despite all of the financial insecurity that Canadians are facing with the latest drama about Donald Trump’s and the United States government’s tariffs, some good news is that our province had the lowest annual inflation rate across Canada over the last year.
Statistics Canada’s report on the Consumer Price Index was released last month. It shows that on an annual basis, all of the provinces had inflation rates, and Manitoba had the lowest in 2024 at 1.1 percent.
“Our government is focused on making life more affordable for Manitobans,” said Manitoba’s finance minister Adrien Sala. “This report shows that our plan is working, as Manitoba had the lowest inflation rate in 2024 across Canada. The gas tax holiday helped ensure Manitobans had more money in their pockets to help afford things like their mortgage and groceries, and with a permanent cut to the gas tax and a hydro rate freeze in 2025, Manitobans can remain confident our government is doing everything we can to make life as affordable as possible.”
The finance minister noted that lower gasoline prices, driven by the provincial fuel tax holiday, contributed to this slowdown. A permanent cut to the fuel tax was instated on Jan. 1, a 10 percent reduction from the rate previously in place.
The 2024 annual Canadian average inflation rate was 2.4 percent.
On the contrary, Manitoba’s low inflation rate isn’t all good news, as many Manitobans still don’t have more money in their pockets.
“Manitoba’s economy is weakening, investment is leaving, and job losses are piling up. Provincial unemployment jumped to 6.2 percent from 4 percent in 2024, and in December, Manitoba was the only province in Canada with an employment decrease,” said Lauren Stone, Midland MLA for the PC’s.
“The NDP’s $1.3 billion deficit and failure to deliver an economic plan is driving Manitoba into decline, and working families are paying the price.”
It was also certainly a disappointing and difficult weekend for all Canadians with the news of Donald Trump announcing 25 percent tariffs on all Canadian goods.
Stone was less than pleased with Trump’s antics.
“I am extremely disappointed in Trump’s decision this weekend to place tariffs on all Canadian goods,” said Stone. “It is a trade war that makes no sense, as these tariffs will be a direct hit to both Canadian and American consumers and businesses.”
“Now is the time to reconsider policies that have limited our economic potential over the years. We have an opportunity to break down interprovincial trade barriers, improve tax competitiveness and reduce regulatory burdens for business and industries to expand here at home. Over the past couple of months, I have called on the government for a by-partisan Team Manitoba approach, as it’s critical we all work together to develop meaningful solutions for the months and years ahead.”
