Consumer Price Index, May, 2016, published June 17, (2002=100)

Posted by on Jun 23, 2016 in Featured | Comments Off on Consumer Price Index, May, 2016, published June 17, (2002=100)

The Consumer Price Index rose by 1.5% in May compared with May 2015, after an annualized increase of 1.7% in April.   

The CPI in May for goods was up 1.1% from a year earlier while the CPI for services rose 1.9%.

Gasoline prices in May were down 7.1% from  May 2015, after dropping 5.8% in April.  Overall, energy prices declined 3.6% between May 2015 and May 2016, following a  3.2%  annualized rate of decrease in April.  Excluding energy, the annualized Consumer Price Index rose 1.9% in May, down from 2.1% in April.

Food prices rose 1.8%  in the 12 months to May, after the 3.2% rate of annualized increase posted in April.  This was the smallest year-over-year gain since March 2014. The cost of  food purchased from stores in the 12 months to May grew by 1.4%, down from a  3.3% increase in April.  Prices for fresh vegetables and fresh fruit contributed the most to the decline.   Prices for food purchased from restaurants advanced 2.6% on a year-over-year basis, following a 2.7% increase in April.

Costs associated with shelter rose 1.4% in May over May 2015, unchanged from  the annualized gain of 1.4% in April.

Consumers paid 2.0% more for household operations, furnishings and equipment in May compared to May 2015, up from the 1.6% year-over-year increase recorded in April.

Transportation prices increased 1.1% in the 12 months to May 2016, following a 0.9% annualized growth rate in April.

In the 12 months to May 2016, consumer prices rose in all ten provinces.  The CPI grew the most in  Ontario  (+1.9%), followed by Manitoba and British Columbia, both at (+1.7%).  The  lowest annualized increase occurred in Quebec (+0.7%).