Inflation Steady at 2.2% for June
Inflation is up a little in June (year over year) compared to May, with it settling at 2.2% year over year. Where did the biggest price jumps take place? You can’t guess?
- Housing and Accommodation is up a whopping 4.9% (year over year)
- Operating a vehicle is up 2.8% (y.o.y.)
Anybody who is surprised by those numbers has to have been asleep for that past year, because gas prices and the cost of housing (especially in the west) has been the major inflationary factors in Canada for a while now. What is interesting is that because gas prices have plateau’ed and are actually dropping in some areas that is helping keep inflation lower? Fun with numbers. My question is, has the higher price of gas trickled through the product delivery chain and increased prices of other things yet? I think it is shown in some places, but I don’t know about other areas.
Inflation is the worst in Alberta (6.3%) and it is the lowest in Newfoundland (1.4%), interesting numbers, for me.
| Consumer Price Index and major components | ||||||
|---|---|---|---|---|---|---|
| (2002=100) | ||||||
| Relative importance | June 2007 | May 2007 | June 2006 | May to June 2007 | June 2006 to June 2007 | |
| Unadjusted | ||||||
| % change | ||||||
| All-items | 100.002 | 111.9 | 112.1 | 109.5 | -0.2 | 2.2 |
| Food | 17.04 | 112.6 | 112.5 | 109.2 | 0.1 | 3.1 |
| Shelter | 26.62 | 116.8 | 116.0 | 112.8 | 0.7 | 3.5 |
| Household operations and furnishings | 11.10 | 103.0 | 103.0 | 102.1 | 0.0 | 0.9 |
| Clothing and footwear | 5.36 | 93.1 | 96.0 | 94.1 | -3.0 | -1.1 |
| Transportation | 19.88 | 119.2 | 120.7 | 117.3 | -1.2 | 1.6 |
| Health and personal care | 4.73 | 107.9 | 107.4 | 106.1 | 0.5 | 1.7 |
| Recreation, education and reading | 12.20 | 102.5 | 102.2 | 101.3 | 0.3 | 1.2 |
| Alcoholic beverages and tobacco products | 3.07 | 125.7 | 125.2 | 121.8 | 0.4 | 3.2 |
| All-items (1992=100) | 133.2 | 133.4 | 130.4 | -0.1 | 2.1 | |
| Special aggregates | ||||||
| Goods | 48.78 | 108.9 | 109.6 | 107.9 | -0.6 | 0.9 |
| Services | 51.22 | 114.8 | 114.5 | 111.1 | 0.3 | 3.3 |
| All-items excluding food and energy | 73.57 | 109.0 | 109.0 | 106.7 | 0.0 | 2.2 |
| Energy | 9.38 | 140.1 | 142.0 | 138.4 | -1.3 | 1.2 |
| Core CPI | 82.71 | 109.9 | 109.9 | 107.2 | 0.0 | 2.5 |
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