Canada Inflation Rate Edges Up in May

Consumer prices in Canada increased by 0.9 percent year-on-year in May of 2015, compared to 0.8 percent reported in April. While food cost accelerated the most, energy prices continued to fall.
Statistics Canada | 6/19/2015 3:11:16 PM
Compared to May 2014, consumers paid 3.8 percent more for food. While prices for food purchased from stores were up 4.1 percent, prices for food purchased from restaurants rose 2.9 percent, their largest increase since December 2011.

The recreation, education, and reading index rose 1.9 percent. Prices for traveller accommodation were up 7.5 percent while the travel tours index posted a 0.3 percent decline.

Prices for clothing and footwear were up 0.5 percent, as women's clothing cost went up 0.4 percent.

The transportation index declined 3.5 percent, as gasoline prices remained lower than last year. In contrast, prices for the purchase of passenger vehicles increased 1.8 percent.

Excluding energy, the CPI increased 2.2 percent compared to a year earlier. The energy index decreased 11.8 percent, led by gasoline prices (-17.4 percent).

On a monthly basis, the CPI increased 0.6 percent in May, following a 0.1 percent fall last month. The largest increase was recorded in recreation, education and reading index, which rose 2.0 percent. Transportation cost increased 1.1 percent, while the food index was up 1.0 percent.

Canada Inflation Rate Edges Up in May