Canada’s Inflation Rate Steady at 1.1% In September


In September of 2013, Canadian annual inflation rate remained stable at 1.1 percent, matching the August figure. Higher shelter costs led the rise in the CPI and increases for food and transportation were also contributing factors. Cost of health and personal care were the only to decline in September.

Year-on-year, shelter costs rose 1.4 percent in September, following a 1.1 percent gain in August. Consumers paid more for natural gas and rent in September compared with the same month a year earlier. In contrast, mortgage interest cost declined 3.0 percent, after falling 3.6 percent in August.

Food prices rose 1.2 percent in September. This increase followed a 1.0 percent rise in August. Prices for food purchased from stores increased 1.1 percent, as consumers paid more for fresh vegetables (+7.2 percent), meat (+2.0 percent) and fresh fruit (+4.3 percent). Conversely, prices for dairy products declined on a year-over-year basis. Prices for food purchased from restaurants increased 1.5.

Transportation costs increased 0.8 percent in the 12 months to September, after rising 1.3 percent in August. Prices for the purchase of passenger vehicles rose 1.4 percent. In contrast, consumers paid 0.3 percent less for gasoline, after paying 2.2 percent more in August.

The index for health and personal care declined 0.1 percent in the 12 months to September, following a 1.4 percent decrease in August. 

Consumer prices rose in nine provinces. Manitoba recorded the largest increase while British Columbia was the lone province to post no change on a year-over-year basis in September.

On a month-over-month basis, the inflation rate rose 1.2 percent, after remaining flat in the previous month. 

Canada’s Inflation Rate Steady at 1.1% In September


Statistics Canada | Joana Taborda | joana.taborda@tradingeconomics.com
10/18/2013 1:47:03 PM