In June, Canada’s inflation rate fell to 2.8 percent, in line with the Bank of Canada’s targets.īut economists say wages are not keeping pace, and house prices are high. In June, Canada’s inflation rate came in at 2.8 percent, in line with the Bank of Canada’s targets. “In our view, Alberta faces some of the best near-term economic prospects of any of the provinces in Canada, even as the Canadian economy begins to slow towards the end of 2023,” said Desjardins Group principal economist Marc Desormeaux. Predicting a national recession later this year, the Desjardins group said Alberta’s combination of a strong energy sector, population boom and relatively low housing costs, compared to the rest of Canada, will keep the province thriving. A new financial outlook nationally and for each province conducted by Desjardins Group shows that Alberta’s economy will stay positive even if a national economic downturn looms.
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