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CPI Up to 1.2 % in June in Canada 2013

On Friday Stats Canada published their Consumer Price Index Report for June 2013 and reported:

The Consumer Price Index (CPI) rose 1.2% in the 12 months to June, following a 0.7% increase in May. This 0.5 percentage point gain in the CPI was led by transportation prices, which rose 2.0% on a year-over-year basis in June after falling 0.5% in May.

Gas prices again turn out to be the culprit for the jump in transportation costs (given Gas is $1.34 a litre in Ottawa, it is not surprising).

CPI for Past Little While

A disturbingly sharp jump up on the graph unfortunately. Wonder what is causing the gas price jumps? Feel free to add your own theories in the comments area, I blame the summer vacation season being an excellent time for Oil Companies to raise prices, but I am also paranoid.

Bank of Canada’s core index

This month the CPI measurement by the Bank of Canada is actually higher than the “regular CPI” from Stats Canada

The Bank of Canada’s core index rose 1.3% in the 12 months to June, following a 1.1% increase in May.

On a monthly basis, the seasonally adjusted core index increased 0.2% in June, after posting no change in May.

This is still well under the trigger CPI rate that might signal interest rate increases of 2.0% however, we are getting closer.

What Was More Expensive?

I like to include one of the Big Tables from the publication as well, so have a look at what areas you obviously pay more for this month:

Table 3 Consumer Price Index and major components – Seasonally adjusted1

April 2013 May 2013 June 2013 April to May 2013 May to June 2013
(2002=100) % change
All-items Consumer Price Index (CPI) 122.3 122.5 122.9 0.2 0.3
Food 131.8 132.1 132.2 0.2 0.1
Shelter 128.2 128.3 128.5 0.1 0.2
Household operations, furnishings and equipment 114.2 114.0 114.2 -0.2 0.2
Clothing and footwear 92.4 92.7 92.7 0.3 0.0
Transportation 127.2 127.5 129.5 0.2 1.6
Health and personal care 118.2 118.1 118.2 -0.1 0.1
Recreation, education and reading 105.6 105.8 105.9 0.2 0.1
Alcoholic beverages and tobacco products 140.1 141.1 140.9 0.7 -0.1
Special aggregates
Core CPI2 120.8 120.8 121.1 0.0 0.2
All-items CPI excluding food and energy3 117.0 117.0 117.2 0.0 0.2
1. A seasonally adjusted series is one from which seasonal movements have been eliminated. Each month, the previous month’s seasonally adjusted index is subject to revision. On an annual basis, the seasonally adjusted values for the last three years are revised with the January data release. Users employing Consumer Price Index (CPI) data for indexation purposes are advised to use the unadjusted indexes. For more information on the availability and uses of seasonally adjusted CPI data, please see the Definitions, data sources and methods section of survey 2301 (
2. The Bank of Canada’s core index excludes eight of the Consumer Price Index’s most volatile components (fruit, fruit preparations and nuts; vegetables and vegetable preparations; mortgage interest cost; natural gas; fuel oil and other fuels; gasoline; inter-city transportation; and tobacco products and smokers’ supplies) as well as the effects of changes in indirect taxes on the remaining components.
3. The special aggregate “Energy” includes: electricity; natural gas; fuel oil and other fuels; gasoline; and fuel, parts and supplies for recreational vehicles.

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