Consumer Price Index, June, 2015, published July 17, (2002=100)

Posted by on Aug 7, 2015 in Featured | Comments Off on Consumer Price Index, June, 2015, published July 17, (2002=100)

The Consumer Price Index rose by 1.0% in June compared with June 2014, after increasing 0.9% in May.

The CPI in June for goods was up 0.2% from a year earlier while the CPI for services rose 1.9%.

Gasoline prices decreased 14.1% from June 2014, after falling 17.4% in May.  Overall, energy prices fell 9.0% between June 2014 and June 2015, following an 11.8%  annualized rate of decrease in May  Excluding energy, the annualized Consumer Price Index rose 2.1% in June, down  from 2.2% in May.

Food prices rose 3.4%  in the 12 months to June, after a  3.8% rate of annualized increase was posted in May.  The cost of  food purchased from stores in the 12 months to June grew by 3.6%, down from a 4.1% increase in May.  Prices for meat (+6.6%) contributed the most to the June increase.   Prices for food purchased from restaurants advanced 2.7% on a year-over-year basis, down from the 2.9% annualized growth recorded in May.

Costs associated with shelter rose 1.0% in June over June 2014 after increasing 0.5% in May.  This acceleration was led by higher electricity prices as well as by higher natural gas prices.  In addition, the homeowners’ mortgage insurance index was up 9.2% after increasing 8.3% in May.

Consumers paid 3.1% more for household operations, furnishings and equipment in June compared to June 2014, down from the 3.4% rate of increase recorded in May.

Transportation prices fell 2.6% in the 12 months to June 2015, following a 3.5% decrease in May, as gasoline prices continued to rebound.  However, consumers paid 2.0% more on a year-over-year basis for the purchase of passenger vehicles, after an increase of 1.8% in May.

In the 12 months to June 2015, consumer prices rose in nine provinces.  The CPI grew the most in Saskatchewan (+1.9%) , followed by Alberta (+1.7%).  Ontario and Quebec each recorded a 1.0% annualized increase.  The  only decline occurred in Prince Edward Island (-0.1%).