Consumer Price Index, August 2014, published September 19, (2002=100)

Posted by on Sep 25, 2014 in Featured | 0 comments

The Consumer Price Index rose by 2.1% in August compared with August 2013,  the same rate of annualized increase as in July.   

The CPI in August for goods was up 1.7% from a year earlier while the CPI for services rose 2.4%.

Gasoline prices decreased 2.1% from August 2013, after rising 2.1% in July.  Overall, energy prices grew 3.3% between August 2013 and August 2014, following a 4.7%  annualized rate of increase in July.  Excluding energy, the Consumer Price Index rose 2.0% in August, after growing by 1.8% in July.

Food prices rose 2.2% in the 12 months to August, after a 2.9% rate of annualized increase was posted in July.  The cost of  food purchased from stores in the 12 months to August grew by 2.3%,  down from a 3.2% increase in July.  The decrease was led by prices for fresh fruits and fresh vegetables.  At the same time, consumers paid 9.3% more for meat than in August 2013.  Prices for food purchased from restaurants advanced 2.1% on a year-over-year basis, the same rate of increase as in July.

Costs associated with shelter rose 2.8% in August over August 2013, after increasing 3.0% in July.  Consumers paid more for homeowner’s home and mortgage insurance and property taxes.

Consumers paid 3.0% more for household operations, furnishings and equipment in August compared to August 2013, after an increase of 1.6% recorded in July.  August’s increase was led by a 7.6% growth in the cost of telephone services.  In addition, the cost of Internet access services rose in the 12 months to August.

Transportation prices gained 1.2% in the 12 months to August 2014, following a 1.3% increase in July.  While gasoline prices declined,  consumers paid 2.9% more for the purchase of passenger vehicles, after rising 1.3%  in July.

In the 12 months to July 2014, consumer prices rose in all ten provinces.  The CPI grew the most in Saskatchewan (+2.7%) followed by  Alberta (+2.6%) , and an annualized rate of 2.5% in  both Newfoundland and Labrador and in Ontario.   The smallest gain in the CPI occurred in Prince Edward Island (+1.2%).   The CPI in Quebec was up 1.6% from August 2013.