New data from Statistics Canada shows that non-farm payroll employees saw their average weekly wages increase by 2.3% in December compared to a year earlier. The consumer price index gained 1.9% over the same period.

The average weekly wage of $993 was little changed from November while average hours worked remained at 33.0.

Quebec saw the largest annual gain (3.9% to $922) and 8 provinces posted increases while Newfoundland and Labrador and Nova Scotia were essentially flat.

In Alberta, wages gained just 1.2% year-over-year in December to $1,149, while the CPI was up 2%, squeezing household budgets especially as interest rates gained.

Inflation eased slightly in January, rising 1.7% on an annual basis from the 1.9% in December.

Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate


More market watch: