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).
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 |
Enbridge Gas has informed me that my bill will rise by $85 this year.
My property taxes will rise by 3% or 4% next year.
Just got my house insurance bill and it went up about $12.
My wage does not change so I am finding it hard to get ahead.