Consumer Price Index, February, 2014, published March 21

Posted by on Mar 26, 2014 in Featured | 0 comments

The Consumer Price Index rose by 1.1% in February compared with February 2013,  following a 1.5% increase in January.   

The CPI for goods increased by 0.3% in the 12 months to February while the CPI for services was up 1.8% over the same period.

Gasoline prices decreased 1.3% from February 2013, after gaining 4.6% in January.  Overall, energy prices grew 1.6% between February 2013 and February 2014, following a 4.6% increase in January.  Excluding energy, the Consumer Price Index rose 1.1% in February, after growing by 1.2% in January.

Food prices rose 1.1% in the 12 months to February, unchanged from the increase in January.  The cost of  food purchased from stores in the 12 months to February rose 1.0% after also rising 1.0% in the previous month.  Prices for food purchased from restaurants advanced 1.1% on a year-over-year basis , after growing 1.3% in January.

Costs associated with shelter rose 2.2% in February over February 2013, after
increasing 2.1% in January.  Consumers paid 4.7% more for electricity; 3.2% more in property taxes; and 1.5% more for rent.

Consumers paid 0.9% more for household operations, furnishings and equipment in February compared to February 2013 down from the annualized gain of 1.1% recorded in January.

Transportation prices gained 0.4% in the 12 months to February 2014, following a 2.0% increase in January.  Consumers paid less for gasoline in the 12 months to February.  In addition, they paid 0.3% less for the purchase of passenger vehicles, after paying 0.9%  more in January.

In the 12 months to February 2014, consumer prices rose in nine provinces.  The CPI grew the most in Prince Edward Island over February 2013 (+2.7%) followed by Alberta (+2.4%) and Saskatchewan (+2.3%).  The CPI in British Columbia was down 0.3% from February 2013.  The CPI in Ontario was up 1.5% and in Quebec it increased 0.4% over February 2013.