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- The Canadian Consumer Price Index (CPI) rose 2.8% on a year-over-year basis in August, following a 3.0% increase in July
The Canadian Consumer Price Index (CPI) rose 2.8% on a year-over-year basis in August, following a 3.0% increase in July
Excluding gasoline, the CPI increased 2.2%, matching the gain in July.
Prices were up in all eight major components in the 12 months to August. The transportation index rose at a slower pace in August (+7.2%) than in July (+8.1%), but remained the largest contributor to the year-over-year increase in consumer prices.
Year-over-year prices for non-durable goods (+3.8%) increased at a more moderate pace in August than in July (+4.4%). Gasoline prices rose 19.9% in the 12 months to August, following a 25.4% year-over-year increase in July. Prices for water, fuel and electricity, up 2.2% year over year, rose at a slower rate compared with July (+3.0%).
Prices for durable goods rose 1.1% year over year, following a 0.8% increase in July. The purchase of passenger vehicles index (+2.3%) rose more on a year-over-year basis in August than in the previous month (+2.0%). The gain was largely attributable to the greater availability of 2019 model-year vehicles compared with the same month last year.
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