Latest Economic Review

Download the complete report: Economic Review (January 18, 2019) (PDF, 610 KB)

See below for highlights from the publication.

Modest pickup in inflation

Consumer inflation – Inflation ticks up despite lower gasoline prices

  • After 4 consecutive monthly declines, Alberta’s inflation rate edged up.
  • Despite a decline in the price level from last month, the consumer price index (CPI) rose 2.1% year-over-year in December, up 0.5 percentage points from a 10-month low set in November.

Chart 1: Consumer inflation ticks up with higher service inflation

Year-over-year percentage change in Alberta’s consumer price index

Chart 1: Consumer inflation ticks up with higher service inflation - Year-over-year percentage change in Alberta’s consumer price index
Source: Statistics Canada

Refined petroleum products – Refinery output near record level

  • Alberta refinery production held relatively steady near the record set in September.
  • Production of refined petroleum products dipped 1.1% month-over-month in October to 612,767 barrels of oil equivalent per day, led by decreases in still gas, aviator turbo fuel and diesel.
  • These declines were moderated by higher heavy fuel oil, asphalt and motor gasoline output.

Resale housing – Housing market remains soft

  • Activity in the Alberta housing market remains muted.
  • Seasonally adjusted home sales decreased 1.4% month-over-month to 4,284 units, slightly above the 8-year low set in October.
  • Sales activity slowed in Edmonton and in the oil and gas regions of Grande Prairie, Fort Murray and Alberta West.

New vehicle sales – Sales remain subdued

  • New vehicle sales remain soft. Albertans purchased 17,339 new vehicles in November, 1,706 less than a year ago.
  • Sales consistently declined year-over-year in 2018 after rebounding in 2017. Through the first 11 months of the year, sales were down 4.3%.
  • The decline was primarily due to the ongoing weakness in car sales (-18.4% year-to-date), while truck sales held steady.

Latest Economic Indicators at a Glance

The Weekly Economic Indicators at a Glance document provides a quick reference guide to the most important economic indicators. It features several charts comparing related indicators, as well as cross-provincial comparisons. On the last page, it also features a comprehensive data table of economic and demographic indicators, which is a useful reference guide when you need all the numbers quickly.

Download the Economic Indicators at a Glance (January 18, 2019) (PDF, 724 KB).

Data tables

The following file contains data in the tables and charts of the weekly economic publications, and is updated every Friday afternoon.

Download the data tables from the economic publications (January 18, 2019) (XLSX, 69 KB).

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Archive: Economic Review

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Contact

Contact for the Economic Review

Robert Van Blyderveen, Economist
Alberta Treasury Board and Finance
Phone: 780-638-5628
Toll free: 310-0000 before the phone number (in Alberta)
Email: Robert.VanBlyderveen@gov.ab.ca

Contact for the Indicators at a Glance

Bijon Brown, Economist
Alberta Treasury Board and Finance
Phone: 780-643-1876
Toll free: 310-0000 before the phone number (in Alberta)
Email: Bijon.Brown@gov.ab.ca