Canada’s inflation rate jumped yet again in June up to 8.1 per cent – the highest yearly change since January 1983.
As prices continue to increase, so does the importance of supporting local businesses here in Moose Jaw as they rely on the community to survive.
“In this escalating interest rate environment it’s very important to stay at home and we support local,” says Moose Jaw & District Chamber of Commerce President Aaron Ruston.
“You’re not just buying goods, you’re supporting a local family in Moose Jaw here. I know it’s very easy to head to Regina, but it is really important that as these people get hit with higher costs to stay home and support these people and keep Moose Jaw strong,” adds Ruston.
Statistics Canada who released their monthly Consumer Price Index, which evaluates the country’s inflation rate says in June they saw an increase in the price of gas, food, and transportation, making it more challenging for Canadians.
During the COVID-19 pandemic, the Chamber released their “Live Love Local” campaign, which was a way to encourage people to put money back into the community by supporting local businesses.
“We’ve been through so much in the past two years, and now with the interest and inflation rates rising at such a rapid rate, we live here, let's love here, and let's support our local businesses.”
He notes that the current leadership team within the Chamber has been very active in connecting local establishments with the Moose Jaw community in an effort to continue to support local.
As we’ve moved into the summer months and with the high cost of inflation keeping people closer to home, Ruston has noticed more and more residents take to the streets and check out local businesses.
“I do believe that people are staying closer to home, we have so much to offer right here in Moose Jaw, that I do hope that people take advantage of it. I see lots of people downtown. I hope they’re purchasing and I hope they’re realizing what an amazing little city we have.”
The CPI’s June report showed that gas was one of the biggest increases, as motorists paid 54.6 per cent more, a six per cent increase from what it was in May.
As well, travel accommodation and air transportation prices saw a huge spike in June with the easing of public health measures causing an increased demand for travel-related services. Travelers across the country faced a 49.7 per cent increase in accommodations. Prices for air transportation rose 6.4 per cent month over month in June.