Consumer Price Index, May, 2013, published June 21, (2002=100)

Posted by on Jun 26, 2013 in Featured | 0 comments

The Consumer Price Index rose by 0.7% in May compared with May 2012 following a 0.4% increase in April.   

Gasoline prices decreased 1.5% from May 2012, after falling 6.0% in April.  The decrease in April had been the largest year-over-year decline in gasoline prices since October 2009.

Overall, energy prices rose 1.0% between May, 2012 and May 2013, following a 1.9% decrease in April.  Excluding energy, the Consumer Price Index rose 0.7% in May, the same rate of annualized increase as in April.  Natural gas prices advanced 15.4% in the 12 months to May, the largest increase since December 2008.  The May increase was the third year-over-year gain in four months in the natural gas index.  These increases came after 25 consecutive year-over-year declines.

Food prices rose 1.3% in the 12 months to May, following a 1.5% increase in April.  Consumers paid more for food purchased from stores in the 12 months to May, notably fresh vegetables (+5.8%)and bakery products (+3.9%).  Prices for fresh fruit and meat also rose in the 12 months to May, although at a slower rate than in April.

Costs associated with shelter rose 1.3% in May over May 2012, matching the increase  in April.  In addition to the jump in natural gas prices, rent and property taxes rose on a year-over-year basis.  Mortgage interest cost decreased 4.1% in May over a year earlier.

Consumers paid 1.1% more for household operations, furnishings and equipment in May compared to May 2012, after rising 1.5% in April.

Transportation prices declined 0.5% in the 12 months to May 2013, following a 2.1% decrease in April.  The smaller decline in the transportation index was led by gasoline prices, which fell less in the 12 months to May (-1.5%) than in April (-6.0%).   In addition to price decreases for gasoline, prices for the purchase of passenger vehicles also fell from May 2012.

In the 12 months to May 2013, consumer prices rose in nine provinces.  However, the increases in eight of the provinces were less than 2.0%.  The CPI grew the most in Alberta over May 2012 (+2.3%).   The CPI declined in New Brunswick (-0.1%).  The CPI in Ontario was up 0.5% and in Quebec increased 0.7% over May 2012.