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Alberta Rent Prices Surge Despite Slowing Inflation, Outpacing National Average




Despite a slowdown in inflation in Alberta, rent prices have surged nearly double the national average. Statistics Canada's April Consumer Price Index Report shows Canada's annual inflation rate dropped to 2.7%, the lowest in three years. Alberta's inflation fell due to lower electricity and natural gas prices but was offset by a sharp rise in rent costs. 


Calgarian Dustin Oxenbury reported his rent increased from $1,300 to nearly $1,950. Alberta’s rent prices rose 16.2% year-over-year in April, the eighth consecutive month of outpacing the national average of 8.2%. This has led to calls for rent caps. 


Strong demand from high interprovincial migration, with Alberta's population growing by 202,324 in 2023, drives the rent surge. Calgary recorded Canada's highest inflation rate at 3.6% in April.






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