CPI Going Up
Stats Canada published the November Consumer Price Index numbers yesterday and it is starting to get some momentum in the UP direction, with their index going up by 1.0% (year over year ending in November 2009).
The rise in the all-items Consumer Price Index (CPI) was due primarily to gasoline prices. Prices at the pump are now exerting upward pressure on the CPI after an extended period in which they were the main contributors to year-over-year declines in overall consumer prices.
Interesting that gas prices in December seem to be dropping, so how this changes next month’s CPI remains to be seen.
Bank of Canada’s Core Index
More importantly the Bank of Canada’s Core Index is up 1.5% year over year, which is starting to push inflation into the target zone for the Bank. If this upward pressure continues, this may push the bank to act sooner with an Interest Rate increase to hopefully put the brakes on any Inflationary explosion.
The Big Table
|Relative importance||November 2008||November 2009||October 2008 to October 2009||November 2008 to November 2009|
|Household operations, furnishings and equipment||11.10||105.5||108.5||2.6||2.8|
|Clothing and footwear||5.36||94.1||95.1||0.6||1.1|
|Health and personal care||4.73||110.1||113.6||3.4||3.2|
|Recreation, education and reading||12.20||101.9||103.7||1.5||1.8|
|Alcoholic beverages and tobacco products||3.07||128.5||131.3||2.7||2.2|
|All-items excluding food and energy||73.57||111.3||112.2||1.3||0.8|
NB: Random Thoughts may be on hiatus for a week or two, given the season coming up, or there might be a special Monday edition, if I feel exceptionally lazy next week.
Christmas Laziness and Cheer
I am planning on doing a Top 10 postings for the Christmas/New Year stretch (given I may or may not be around), so if you have any suggestions for this kind of a list (top 10 for this year), please leave a comment with a title or story you may have particularly liked (written by me, that is).
Inflation in 2009
- Inflation Edges Up in December 2009 for the first time in a while
- How do you spell INFLATION? In November, evidently, it looked like it might start again
- Consumer Price Index is Trending Up Again in October of 2009
- CPI: How Many Negatives Make it Deflation? a good question for September 2009
- CPI Down Again (kind of) for August of 2009. Is that really deflation?
- Deflation again! CPI Down for July (sort of) really deflation? Not really.
- Inflation down 0.3% for June most of this in June 2009 is caused by gasoline pricing silliness.
- Consumer Price Index for May 2009: Nudges Up but overall it keeps looking like not much
- CPI For April 2009 at 0.4% Wow , calm down big fella it is not that good news
- Consumer Price Index Down a Little for March 2009 which is a good thing, don’t you think?
- Inflation Jumps for February 2009, did it really?