Consumer Price Index, February, 2015, published March 20, (2002=100)

Posted by on Jun 1, 2015 in Featured | Comments Off on Consumer Price Index, February, 2015, published March 20, (2002=100)

The Consumer Price Index rose by 1.0% in February compared with February 2014, matching the increase in January.     

The CPI in Febuary for goods was down 0.3% from a year earlier while the CPI for services rose 2.3%.

Gasoline prices decreased 21.8% from February 2014, after falling 26.9% in January.  Overall, energy prices fell 10.8% between February 2014 and February 2015, following a 12.9%  annualized rate of decrease in January.  Excluding energy, the annualized Consumer Price Index rose 2.2% in February, down from 2.3% in January.

Food prices rose 3.9%  in the 12 months to February, after a  4.6% rate of annualized increase was posted in January.  The cost of  food purchased from stores in the 12 months to February grew by 4.3%,  up from a 5.4% increase in January.  Prices for meat (+12.4%), fresh vegetables (+8.4%) and fresh fruits (+3.5%) contributed the most to the February increase.   Prices for food purchased from restaurants advanced 2.8% on a year-over-year basis, unchanged from the the annualized growth recorded in January.

Costs associated with shelter rose 1.8% in February over February 2014 after increasing 2.0% in January.  Consumers paid 10.8% more for natural gas after a 13.9% annualized rate of increase in January.  They also paid 3.8% more for electricity  In contrast, consumers paid 23.4% less for fuel oil than they did in February 2014.  The cost of homeowners  home and mortgage insurance was up 8.6% from February 2014.

Consumers paid 3.1% more for household operations, furnishings and equipment in February compared to February 2014, up from the 2.0% rate of increase recorded in January.

Transportation prices fell 5.0% in the 12 months to February 2015, following a 5.3% decrease in January as gasoline prices continued to decline.  Also, consumers paid 1.0% less on a year-over-year basis for the purchase of passenger vehicles, after paying 1.2% more in January.

In the 12 months to February 2015, consumer prices rose in six provinces.  The CPI grew the most in Ontario (+1.3%), followed by Saskatchewan with an annualized rate of 1.2%.    The largest decline occurred in Prince Edward Island (-1.5%).  The CPI in Quebec was up 1.1% from February 2014.