Consumer Price Index, August, 2015, published September 18, (2002=100)

Posted by on Oct 7, 2015 in Featured | Comments Off on Consumer Price Index, August, 2015, published September 18, (2002=100)

The Consumer Price Index rose by 1.3% in August compared with August 2014, unchanged from July’s rate of annualized increase.     

The CPI in August for goods was up 0.7% from a year earlier while the CPI for services rose 1.8%.

Gasoline prices decreased 12.6% from August 2014, after falling 12.2% in July.  Overall, energy prices fell 7.2% between August 2014 and August 2015, following a 7.4%  annualized rate of decrease in July.  Excluding energy, the annualized Consumer Price Index rose 2.0% in August, down from 2.2% in July.

Food prices rose 3.6%  in the 12 months to August, after a  3.2% rate of annualized increase was posted in July.  The cost of  food purchased from stores in the 12 months to August grew by 4.0%, up from a 3.5% increase in July.  Prices for meat (+6.3%) contributed the most to the August increase, although beef prices declined for the second consecutive month.  Prices for food purchased from restaurants advanced 2.8% on a year-over-year basis, up from 2.7% in July.

Costs associated with shelter rose 1.1% in August over August 2014 after increasing 0.9% in July.  The cost for homeowners’ home and mortgage insurance was up 8.1% in the 12 months to August, after increasing 7.5% on a year-over year basis the previous month.

Consumers paid 2.5% more for household operations, furnishings and equipment in August compared to August 2014, down from the 3.3% rate of increase recorded in July.  This deceleration  was mainly caused by a smaller year-over-year increase in the telephone services index, which grew 0.5% in the 12 months to August, after rising 3.9% in July.  The indexes for Internet access services and furniture also recorded smaller year-over-year increases in August than they did in July.

Transportation prices fell 2.3% in the 12 months to August 2015, following a 1.7% decrease in July.  This year-over-year decrease was mainly due to  consumers paying 0.6% more for to the purchase of passenger vehicles, after an increase of 2.5% in July.

In the 12 months to August 2015, consumer prices rose in nine provinces.  The CPI grew the most in Saskatchewan (+1.9%), followed by Manitoba (+1.8%) and Alberta (+1.7%).   Ontario posted 1.2% year-over-year gain Quebec recorded a 1.1% annualized increase.  The  only decline occurred in Prince Edward Island (-0.1%).