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Consumer Price Index, November 2018

Released: 2018-12-19

Consumer Price Index

November 2018

1.7% increase

(12-month change)

The Consumer Price Index (CPI) rose 1.7% on a year-over-year basis in November, following a 2.4% increase in October. This is the smallest year-over-year increase in the CPI since January 2018, primarily reflecting recent declines in gasoline prices. Excluding gasoline, the CPI rose 1.9% in November.

Chart 1  Chart 1: The 12-month change in the Consumer Price Index (CPI) and the CPI excluding gasoline
The 12-month change in the Consumer Price Index (CPI) and the CPI excluding gasoline

Component highlights

All eight major components rose year over year. The shelter index (+2.4%) was the largest contributor to the increase. Recent interest rate increases continued to impact the mortgage interest cost index (+7.2%) in November, which recorded its largest year-over-year gain since October 2008.

Chart 2  Chart 2: Consumer prices increase in all major components
Consumer prices increase in all major components

Energy costs declined 1.3% compared with November 2017, following a year-over-year increase (+7.9%) in October. Gasoline prices fell 5.4% year over year, as declining global crude oil prices led to lower prices at the pump and the first 12-month decrease in the gasoline index since June 2017. Similarly, the year-over-year gain in the price of fuel oil and other fuels was smaller in November (+17.0%) than in October (+25.0%).

Prices for durable goods declined 0.1% year over year, following a 0.9% gain in October. The purchase of passenger vehicles index rose 0.8% after increasing 1.7% in October, amid lower availability of new model-year vehicles compared with November 2017. Consumers paid less for furniture (-2.1%) and tools and other household equipment (-0.4%) year over year.

Regional highlights

In every province, prices rose less in November on a year-over-year basis compared with the previous month. Lower gasoline prices were the largest contributor to the deceleration in every province.

Chart 3  Chart 3: Consumer prices rise at a slower rate in all provinces
Consumer prices rise at a slower rate in all provinces

Consumer prices in Ontario rose 1.8% on a year-over-year basis, after a 2.5% gain in October. Following a series of rate increases, consumers paid more on a year-over-year basis for passenger vehicle insurance premiums in November (+5.3%) than in October (+1.4%). At the same time, the homeowners' replacement cost index declined 0.2% in Ontario, the first year-over-year decline in the index since November 2009.

Seasonally adjusted monthly Consumer Price Index

On a seasonally adjusted monthly basis, the CPI decreased 0.2% in November, following a 0.3% increase in October. The health and personal care index (-1.0%) and the transportation index (-0.9%) reported the largest declines.






  Note to readers

Methodological update

The release of the November 2018 Consumer Price Index (CPI) reflects changes in the methodology for the telephone services index and the multipurpose digital devices index.

Users should note that changing methodological elements of any index may result in variations in the series. As such, the interpretation of the 12-month price change indicator should be made with caution, particularly in the year following the implementation of a new methodology.

For more information regarding this update, please contact the Consumer Prices Division at statcan.cpddisseminationunit-dpcunitedediffusion.statcan@canada.ca, at 613-951-9606 or at 1-866-230-2248.

Upcoming basket update

On February 27, 2019, with the release of the January 2019 Consumer Price Index (CPI), the basket of goods and services used in the calculation of the CPI will be updated. For more information on basket updates, consult The Canadian Consumer Price Index Reference Paper, chapter 8, 'Weights and Basket Updates.'

Real-time data tables

Real-time data table 18-10-0259-01 will be updated on January 7, 2019.

Next release

The Consumer Price Index for December 2018 will be released on January 18, 2019.

Products

More information about the concepts and use of the Consumer Price Index (CPI) is available in The Canadian Consumer Price Index Reference Paper (Catalogue number62-553-X).

For information on the history of the CPI in Canada, consult the publication Exploring the First Century of Canada's Consumer Price Index (Catalogue number62-604-X).

Two videos, "An Overview of Canada's Consumer Price Index (CPI)" and "The Consumer Price Index and Your Experience of Price Change," are available on Statistics Canada's YouTube channel.

Contact information

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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