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Canajun Finances Home » Inflation Jumps in March 2014

Inflation Jumps in March 2014

Thanks to the new Energy Crisis (or energy gouging, depending on how you want to look at it), Inflation started to jump in March (year over year) by 1.5%.

Specifically, Stats Canada points out in their report:

The larger year-over-year rise in the CPI in March compared with February was led by energy prices, which rose 4.6% in the 12 months to March, following a 1.6% increase in February. Gasoline prices rose 1.4% on a year-over-year basis, after decreasing 1.3% in February. In addition, the natural gas index increased 17.9% in March, following a 5.5% rise in February. The rise in the natural gas index in March was mainly attributable to a price increase in Alberta.

Enbridge is jumping natural gas prices, Ontario is jacking up their Electricity rates, and gas prices are going up like wildfire in Ottawa. All in all, I smell a start to inflation again. We shall see if I am correct or not.

Inflation for Past Little While
Inflation for Past Little While, JUMP!

A fascinating saw tooth pattern seems to be happening over the past while.

Overall if this trend continues, it might get the Bank of Canada’s attention.

Inflation for past little while
Seasonally Adjusted Consumer Price Index Overall for the past little while

Bank of Canada’s Index

Remembering that the Bank of Canada has its own “basket of goods” that it measures inflation with, their version of inflation was not quite as high as Stats Canada’s version:

The Bank of Canada's core index rose 1.3% in the 12 months to March, after increasing 1.2% in February.

Not as high, but still troubling.

The Big Table

What is going up in price? Here is a non-seasonally adjusted table for you (look for Shelter, Energy, and Alcohol):

Consumer Price Index and major components, Canada Not seasonally adjusted

 Relative import1March 2013Feb 2014Mar 2014Feb to Mar 2014Mar 2013 to Mar 2014
 %(2002=100)% change
All-items Consumer Price Index (CPI)100.002122.9124.1124.80.61.5
Household operations, furnishings and equipment12.66114.7115.3115.70.30.9
Clothing and footwear5.8295.391.094.03.3-1.4
Health and personal care4.93118.3118.4118.1-0.3-0.2
Recreation, education and reading10.96105.2106.4106.50.11.2
Alcoholic beverages and tobacco products2.79139.8142.9145.31.73.9
Special aggregates      
Core CPI384.91120.9122.1122.50.31.3
All-items CPI excluding energy91.44120.0121.0121.50.41.3
All-items CPI excluding food and energy74.85117.2118.2118.60.31.2

1.2011 CPI basket weights at January 2013 prices, Canada, effective February 2013. Detailed weights are available under the Documentation section of survey 2301 (

2.Figures may not add up to 100% as a result of rounding.

3.The Bank of Canada’s core index excludes eight of the CPI’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. For additional information on the core CPI, consult the Bank of Canada website .

4.The special aggregate “Energy” includes: electricity; natural gas; fuel oil and other fuels; gasoline; and fuel, parts and supplies for recreational vehicles.

Inflation in 2014

How did Inflation go in 2014?

Feel Free to Comment

  1. Yikes, I was not entirely aware of all this. Thanks for the detailed table, and overall for the useful info on here.

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