The Consumer Price Index rose by 2.1% in August compared with August 2013, the same rate of annualized increase as in July.
The CPI in August for goods was up 1.7% from a year earlier while the CPI for services rose 2.4%.
Gasoline prices decreased 2.1% from August 2013, after rising 2.1% in July. Overall, energy prices grew 3.3% between August 2013 and August 2014, following a 4.7% annualized rate of increase in July. Excluding energy, the Consumer Price Index rose 2.0% in August, after growing by 1.8% in July.
Food prices rose 2.2% in the 12 months to August, after a 2.9% rate of annualized increase was posted in July. The cost of food purchased from stores in the 12 months to August grew by 2.3%, down from a 3.2% increase in July. The decrease was led by prices for fresh fruits and fresh vegetables. At the same time, consumers paid 9.3% more for meat than in August 2013. Prices for food purchased from restaurants advanced 2.1% on a year-over-year basis, the same rate of increase as in July.
Costs associated with shelter rose 2.8% in August over August 2013, after increasing 3.0% in July. Consumers paid more for homeowner’s home and mortgage insurance and property taxes.
Consumers paid 3.0% more for household operations, furnishings and equipment in August compared to August 2013, after an increase of 1.6% recorded in July. August’s increase was led by a 7.6% growth in the cost of telephone services. In addition, the cost of Internet access services rose in the 12 months to August.
Transportation prices gained 1.2% in the 12 months to August 2014, following a 1.3% increase in July. While gasoline prices declined, consumers paid 2.9% more for the purchase of passenger vehicles, after rising 1.3% in July.
In the 12 months to July 2014, consumer prices rose in all ten provinces. The CPI grew the most in Saskatchewan (+2.7%) followed by Alberta (+2.6%) , and an annualized rate of 2.5% in both Newfoundland and Labrador and in Ontario. The smallest gain in the CPI occurred in Prince Edward Island (+1.2%). The CPI in Quebec was up 1.6% from August 2013.