Inflation and CPI Under Control For July 2007

Stats Canada posted the Consumer Price Index on Tuesday, and the numbers are similar to previous months’ inflation numbers, with a year-over-year price increase of 2.2% (July 2006-07).

No change is a good thing, since the price index still seems to be at a moderate level, given the astronomical gas price roller coaster we have all been living with over the past 2 years (see the gas price index graph for details).

The Food portion of the index is up 2.8% (year over year), down from 3.1% (year over year) last month, so that is a good thing to see (since I have noticed increased food prices, with very hungry children).

The complete table of areas and their month-to-month and year-over-year increases is included at the bottom of this posting as well (read this over, and maybe you can see where your money HAS been going). I include the Gas Price Index graph as an interesting anecdote to show how gas prices have been trending this year compared to last year.

This will hopefully mean a settling of the recent interest rate increases and an easing of the credit tightening seen, but then again, I have been wrong before.

Consumer Price Index and major components
(2002=100)
	Relative importance	July 2007	June 2007	July 2006	June to July 2007	July 2006 to July 2007
		Unadjusted
					% change
All-items	100.00	112.0	111.9	109.6	0.1	2.2
Food	17.04	112.3	112.6	109.2	-0.3	2.8
Shelter	26.62	117.0	116.8	113.2	0.2	3.4
Household operations and furnishings	11.10	103.2	103.0	101.4	0.2	1.8
Clothing and footwear	5.36	94.6	93.1	93.5	1.6	1.2
Transportation	19.88	118.5	119.2	118.3	-0.6	0.2
Health and personal care	4.73	107.5	107.9	105.7	-0.4	1.7
Recreation, education and reading	12.20	103.0	102.5	101.3	0.5	1.7
Alcoholic beverages and tobacco products	3.07	126.0	125.7	121.5	0.2	3.7
All-items (1992=100)		133.3	133.2	130.5	0.1	2.1
Special aggregates
Goods	48.78	108.6	108.9	108.1	-0.3	0.5
Services	51.22	115.3	114.8	111.2	0.4	3.7
All-items excluding food and energy	73.57	109.1	109.0	106.5	0.1	2.4
Energy	9.38	139.6	140.1	142.0	-0.4	-1.7
Core index	82.71	110.0	109.9	107.5	0.1	2.3