Consumer Price Index For July 2008 Rises Again
Consumer Price Index at 3.4% for July
All I can say is “Uh Oh”, with the CPI numbers for July
being released by Stats Canada.
July saw the highest 12-month increase since March 2003. A climb in gasoline prices was the primary source of higher consumer prices in July. The 12-month variation in the Consumer Price Index (CPI) and the gasoline price index have been increasing at a faster pace over the past four months.
Inflation without gas prices included in it, is at 2.1%, which isn’t as bad, but it is still startling to see these numbers jumping up like this.
On Going Consumer Price Index Graph
This means other prices are going up but not as dramatically, but this is very worrying and I wonder what the Bank of Canada may do about this? Gas prices seem to have plateau’ed for now, but what is going to happen this fall?
More information after the BIG table 
| Consumer Price Index and major components | ||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| (2002=100) | ||||||||||||
| Relative importance1 | July 2008 | June 2008 | July 2007 | June to July 2008 | July 2007 to July 2008 | |||||||
| Unadjusted | ||||||||||||
| % change | ||||||||||||
| All-items | 100.002 | 115.8 | 115.4 | 112.0 | 0.3 | 3.4 | ||||||
| Food | 17.04 | 116.5 | 115.8 | 112.3 | 0.6 | 3.7 | ||||||
| Shelter | 26.62 | 123.3 | 122.3 | 117.0 | 0.8 | 5.4 | ||||||
| Household operations and furnishings | 11.10 | 104.4 | 104.3 | 103.2 | 0.1 | 1.2 | ||||||
| Clothing and footwear | 5.36 | 93.3 | 92.5 | 94.6 | 0.9 | -1.4 | ||||||
| Transportation | 19.88 | 125.7 | 125.8 | 118.5 | -0.1 | 6.1 | ||||||
| Health and personal care | 4.73 | 108.5 | 108.7 | 107.5 | -0.2 | 0.9 | ||||||
| Recreation, education and reading | 12.20 | 103.2 | 102.9 | 103.0 | 0.3 | 0.2 | ||||||
| Alcoholic beverages and tobacco products | 3.07 | 127.6 | 127.7 | 126.0 | -0.1 | 1.3 | ||||||
| All-items (1992=100) | 137.8 | 137.3 | 133.3 | 0.4 | 3.4 | |||||||
| Special aggregates | ||||||||||||
| Goods | 48.78 | 112.1 | 111.6 | 108.6 | 0.4 | 3.2 | ||||||
| Services | 51.22 | 119.4 | 119.1 | 115.3 | 0.3 | 3.6 | ||||||
| All-items excluding food and energy | 73.57 | 110.4 | 110.3 | 109.1 | 0.1 | 1.2 | ||||||
| Energy | 9.38 | 169.1 | 165.3 | 139.6 | 2.3 | 21.1 | ||||||
| Core CPI3 | 82.71 | 111.7 | 111.6 | 110.0 | 0.1 | 1.5 | ||||||
|
||||||||||||
Leading Indicators Remain Flat
The composite leading indicators remained unchanged for another month, for July. This is the second straight month this is happening, but the actual results are quite mixed. The Housing Index seems to be the biggest drop and is the heaviest anchor keeping the index from rising (which is a good thing, I think), and New Orders in manufacturing is up too (i.e. people or companies are buying more).
Humor: And You Can’t Even Rely On Teenage Sex Either!
Yup Stats Canada put out a study that says that Teenage sex in Canada is on the Decline.
In 2005, 43% of teens aged 15 to 19 reported that they had had sexual intercourse at least once, down from 47% in 1996/1997.
The decline was due to young women, among whom the proportion who reported having had sexual intercourse fell from 51% to 43%. The proportion of young men who had had intercourse remained unchanged at 43%.
After doing the simple math in my house, I am going to go ground 2 of my three daughters!!!
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August 28th, 2008 at 5:14 am
A great quote on money comes from David Bach: “Financial education needs to become a part of our national curriculum and scoring systems so that it’s not just the rich kids that learn about money.. it’s all of us.” Teaching our children what makes sense money-wise is critical to achieving the living standards we all want to achieve.