Inflation Steady at 2.2% for June 2007

Inflation is up slightly in June (year-over-year) compared to May, settling at 2.2%. Where did the biggest price jumps take place? Can’t you guess?

• Housing and Accommodation is up a whopping 4.9% (year over year)
• Operating a vehicle is up 2.8% (y.o.y.)

Anyone who is surprised by those numbers must have been asleep for the past year, because gas prices and the cost of housing (especially in the West) have been the major inflationary factors in Canada for a while now. What is interesting is that because gas prices have plateaued 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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