Consumer Price Index, July 2014, published August 22, (2002=100)

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

The Consumer Price Index rose by 2.1% in July compared with July 2013,  following a 2.4% increase in June. 

The CPI in July for both goods and services  was up 2.1% from a year earlier.

Gasoline prices increased 2.1% from July 2013, after rising 5.4% in June.  Overall, energy prices grew 4.7% between July 2013 and July 2014, following a 6.7%  annualized rate of increase in June.  Excluding energy, the Consumer Price Index rose 1.8% in July, after growing by 1.9% in June.
Food prices rose 2.9% in the 12 months to July, the same rate of annualized increase as posted in June.  The cost of  food purchased from stores in the 12 months to July grew by 3.2%,  the same amount as in the previous month.  The increase was led by meat prices, up 9.2% from a year earlier and fresh vegetables, up 7.5%.  Prices for food purchased from restaurants advanced 2.1% on a year-over-year basis, down from the 2.3% increase reported in June.

Costs associated with shelter rose 3.0% in July over July 2013, after increasing 2.9% in June.  Consumers paid more for natural gas (+20.4%), homeowner’s home and mortgage insurance  and property taxes.

Consumers paid 1.6% more for household operations, furnishings and equipment in July compared to July 2013, after an increase of 1.9% recorded in June.

Transportation prices gained 1.3% in the 12 months to July 2014, following a 2.2% increase in June.  In addition to gasoline, consumers paid 1.3% more for the purchase of passenger vehicles, after rising 1.6%  in June.

In the 12 months to July 2014, consumer prices rose in all ten provinces.  The CPI grew the most in Ontario, Saskatchewan and Alberta, all  at an annualized rate of 2.5%.   The smallest gain in the CPI occurred in British Columbia (+1.4%).  Ontario’s  increase was mainly attributable to  natural gas prices , which were up 18.3% from a year earlier.   Gasoline prices in Ontario increased by 4.2% from July 2013.