Consumer Price Index, April, 2014, published May 23, (2002=100)

Posted by on May 30, 2014 in Featured | 0 comments

The Consumer Price Index rose by 2.0% in April compared with April 2013,  following a 1.5% increase in March.   

The CPI for goods increased by 2.3% in the 12 months to April while the CPI for services  was up 2.0% over the same period.

Gasoline prices increased 6.6% from  April 2013, after rising 1.4% in March.  Overall, energy prices grew 8.4% between April 2013 and April 2014, following a 4.6% increase in March.  Excluding energy, the Consumer Price Index rose 1.4% in April, after growing by 1.3% in March.

Food prices rose 1.9% in the 12 months to April, up from the increase of 1.5% in March.  The cost of  food purchased from stores in the 12 months to April rose 1.7%,  after also rising 1.7% in the previous month.  The increase was led by meat prices, up 4.5% from a year earlier.  Prices for food purchased from restaurants advanced 2.1% on a year-over-year basis , after growing 1.0% in March.

Costs associated with shelter rose 3.3% in April over April 2013, after increasing 2.7% in March.  Consumers paid more for electricity (+4.6 %), natural gas (+26.0%) fuel oil (+9.3%) and property taxes.  The mortgage interest cost index was up 0.2% in the 12 months to April 2014 after declining 0.6% in March.   This was the first year-over-year  increase in the mortgage interest cost index since June 2009.

Consumers paid 1.0% more for household operations, furnishings and equipment in April compared to April 2013, after an increase of 0.9% recorded in March.

Transportation prices gained 2.8% in the 12 months to April 2014, following a 1.7% increase in March.  In addition to gasoline, consumers paid 1.5% more for the purchase of passenger vehicles, after paying 1.5%  less in March.  Passenger vehicle insurance premiums increased 2.4% in April.

In the 12 months to April 2014, consumer prices rose in all ten provinces.  The CPI grew the most in Saskatchewan over April 2013 (+2.8%) followed by Alberta  (+2.7%) and Ontario (+2.4%).  The smallest gain in the CPI occurred in Quebec (+1.3%).  Ontario’s  increase was mainly attributable to  natural gas prices , which were up 39.3% from a year earlier.   Gasoline prices in Ontario increased by 7.1% from April 2013.