Consumer Price Index: Annual review, 2017
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In 2017, the annual average increase in the Consumer Price Index (CPI) was 1.6%. This increase followed gains of 1.4% in 2016 and 1.1% in 2015.
Higher gasoline prices contribute to faster growth in consumer prices
Consumer prices for gasoline rose 11.8% on an annual average basis in 2017. This increase follows two consecutive declines in gasoline prices in 2015 and 2016.
Excluding gasoline, the annual average increase in the CPI was 1.3% in 2017, following a 1.8% gain the previous year.
Prices rise in seven of eight major components
Prices were up on an annual average basis in seven of eight major components in 2017. For the second consecutive year, the clothing and footwear index (-0.7%) was the lone major component to record an annual average decrease.
On an annual average basis, transportation prices increased 3.9% in 2017, following a 1.1% gain in 2016. The primary upward contributor was the gasoline index, which rose 11.8% on an annual average basis in 2017 following a 6.0% decline in 2016.
The shelter index recorded a 1.7% annual average increase in 2017, following a 1.6% gain in 2016. Prices for fuel oil and other fuels (+13.7%) and natural gas (+9.3%) increased in 2017 after declining the previous year. Meanwhile, the electricity index fell 5.6% on an annual average basis following a 5.7% increase in 2016.
Food prices increased 0.1% on an annual average basis in 2017, after rising 1.5% in 2016. Higher prices for food purchased from restaurants (+2.6%) were largely offset by lower prices for food purchased from stores (-1.0%). Prices for fresh fruit (-3.1%) and fresh vegetables (-1.9%) fell after increasing in 2016. The dairy products index (-1.2%) recorded a larger annual average decline in 2017 than in 2016 when it decreased 0.8%.
Consumer prices for household operations, furnishings and equipment rose 0.2% on an annual average basis in 2017, following a 1.7% increase in 2016. Furniture prices fell 1.6% after increasing 1.3% the previous year. The household appliances index (-1.4%) also registered an annual average decline in 2017, following an increase in 2016. Prices for telephone services (-0.5%) declined more in 2017 than in 2016, when they decreased 0.2%.
Consumer prices rise at a faster rate in seven provinces
All provinces posted gains in consumer prices in 2017, with seven provinces recording larger annual average increases in 2017 than in 2016. The annual average CPI increased the most in Newfoundland and Labrador (+2.4%) and New Brunswick (+2.3%) in 2017.
Note to readers
This release examines the percentage change between the annual average Consumer Price Index (CPI) in 2016 and 2017.
Annual average indexes are obtained by calculating the average of the 12 monthly index values over the calendar year. Annual average percent change should not be confused with the 12-month percent change that is published every month with the release of the CPI. Unlike annual average change, 12-month change compares the monthly index level with the level from the same month a year earlier.
The December 2017 issue of The Consumer Price Index, Vol. 96, no. 12 (62-001-X), is now available.
More information about the concepts and use of the Consumer Price Index are available in The Canadian Consumer Price Index Reference Paper (62-553-X).
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; STATCAN.infostats-infostats.STATCAN@canada.ca) or Media Relations (613-951-4636; STATCAN.mediahotline-ligneinfomedias.STATCAN@canada.ca).
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