Consumer Price Index, December 2012, published January 25, (2002=100)

Posted by on Jan 29, 2013 in Featured | 0 comments

The Consumer Price Index rose by 0.8% in December compared with December 2011.   This was the same annualized increase as in November.

Gasoline prices increased 1.0% from December 2011, after growing 0.4% in November.  This was the fifth straight month of higher gasoline prices following three consecutive months of lower gasoline prices.

Overall, energy prices fell 0.5% between December 2011 and December 2012, following a 0.2% decrease in November.  These two consecutive monthly declines followed two straight monthly increases in the year-over-year energy index.  Excluding energy, the Consumer Price Index rose 1.0% in December, after gaining 0.9% in November.

Food prices rose 1.5% in the 12 months to December, following a 1.7% increase in November.  Consumers paid 2.2% more for food purchased from restaurants and 4.4% more for meat.  In contrast, prices for fresh vegetables declined 5.8%.

Costs associated with shelter rose 0.6% in December over December 2011, down from the 1.0% gain posted in November.  Homeowners’ replacement cost and rent were major factors in the December rise in shelter costs.  Conversely, natural gas prices and mortgage interest cost decreased in December.

Consumers paid 1.3% more for household operations, furnishings and equipment in December compared to December 2011, after rising 1.4% in November.  Consumers paid 4.2% more for financial services.

Transportation prices increased 0.5% in the 12 months to December 2012, after a decrease of 0.2% in October.  Prices for the purchase of passenger vehicles fell 0.6% from December 2011 after decreasing 1.8% n November.

In the 12 months to December 2012, consumer prices rose in all provinces except Alberta, where the CPI was unchanged from December 2011.

However, all  provincial increases were less than 2.0%.  The CPI grew most in Nova Scotia (+1.8%) followed by Quebec (+1.5%) and both Newfound and Labrador and Manitoba (+1.3%).  The lowest rate of increase was in British Columbia (+0.4%) followed by New Brunswick and Saskatchewan (+0.7% for both).  The CPI in Ontario increased 0.8% over December 2011.