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Inflation could affect Nunavut hunters, sealift prices – Nunatsiaq News

May 18, 2022

Canada’s rising inflation rate has hit Nunavut, affecting everything from food and sealift prices to the cost of fueling up a snowmobile.

And it might get worse, according to organizations operating in the territory.

“There is going to be a whole other layer of inflation that is going to impact the costs here,” Arctic Co-operatives Ltd. vice-president of stakeholder relations Duane Wilson said, referring to rising fuel costs.

Inflation has risen steadily in Canada, with the annual inflation rate up 6.8 per cent in April — a 31-year high, according to Statistics Canada.

Reasons for the increase include supply chain delays and the rising cost of fuel due to the war in Ukraine.

However, Nunavut has had somewhat of a buffer from the rise in prices being felt in other parts of the country because some businesses would have resupplied their inventories last year, Wilson said.

Read More: https://nunatsiaq.com/stories/article/inflation-hits-nunavut-more-impact-potentially-coming/

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