Consumer Price Index, September 2014, published October 17, (2002=100)

Posted by on Oct 20, 2014 in Featured | 0 comments

The Consumer Price Index rose by 2.0% in September compared with September 2013, down from  the 2.1% rate of annualized increase in August.   

The CPI in September for goods was up 1.8% from a year earlier while the CPI for services rose 2.4%.

Gasoline prices decreased 0.5% from September 2013, after falling 2.1% in August.  Overall, energy prices grew 2.7% between September 2013 and September 2014, following a 3.3%  annualized rate of increase in August.  Excluding energy, the annualized Consumer Price Index rose 2.1% in September, after growing by 2.0% in August.

Food prices rose 2.7% in the 12 months to September, after a 2.2% rate of annualized increase was posted in August.  The cost of  food purchased from stores in the 12 months to September grew by 3.0%,  up from a 2.3% increase in August.  The increase was led by meat prices, which grew by 11.5% following a 9.3% gain in August.  Prices for food purchased from restaurants advanced 2.3% on a year-over-year basis, after growing by 2.1%  in August.

Costs associated with shelter rose 2.7% in September over September 2013, after increasing 2.8% in August.  Consumers paid 16.2% more for natural gas as well as more for homeowner’s home and mortgage insurance, property taxes and electricity.  Conversely, the mortgage interest cost index declined year-over-year.

Consumers paid 2.7% more for household operations, furnishings and equipment in September compared to September 2013, after an increase of 3.0% recorded in August.

Transportation prices gained 0.5% in the 12 months to September 2014, following a 1.2% increase in August.  While gasoline prices declined 0.5%,  consumers paid 0.5% more for the purchase of passenger vehicles, after rising 2.9%  in August.

In the 12 months to September 2014, consumer prices rose in all ten provinces.  The CPI grew the most in Ontario and Alberta (+2.6%) , with an annualized rate of 2.2% in  Saskatchewan.  Ontario recorded the largest increase in clothing prices in the 12 months to September.  Prices for natural gas and electricity rose more in Ontario than they did nationally.  The smallest gains in the CPI occurred in both Prince Edward Island and British Columbia (+1.2%).   The CPI in Quebec was up 1.6% from September 2013.