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The Consumer Price Index
December 2007
Archived Content
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Briefing notes
All-items Consumer Price Index:
- The 14.9% growth in gasoline prices over 12 months and the 1.7% growth between November and December exerted significant pressure on the all-items indexes.
- Mortgage interest cost (+7.3%) and homeowners’ replacement cost (+4.4%) continued to make a strong contribution to the annual rise in the all-items index.
- The 12-month decrease in vehicle purchase and lease prices (-4.1%) was the main factor that mitigated the rise in consumer prices.
- Year-over-year, natural gas prices dampened the rise in consumer prices in Alberta. Homeowners’ replacement cost has been slowing in this province since September 2006.
| Indices | Annual percentage change | Monthly percentage change | ||
|---|---|---|---|---|
| Percentage change December 2006 from December 2007 | Percentage change November 2006 from November 2007 | Percentage change November 2007 from December 2007 | Percentage change October 2007 from November 2006 | |
| percentage | ||||
| All-items index | 2.4 | 2.5 | 0.1 | 0.3 |
| Core index | 1.5 | 1.6 | -0.3 | 0.0 |
| All-items index excluding energy | 1.7 | 1.7 | -0.1 | 0.1 |
| Goods index | 1.2 | 1.4 | -0.2 | 0.5 |
| Services index | 3.5 | 3.4 | 0.3 | 0.1 |
Main contributors to the 12-month change of the all-item index (+2.4%):
Main upward contributors:
- Gasoline (+14.9%)
- Mortgage interest cost (+7.3%)
- Homeowner’s replacement cost (+4.4%)
- Food purchased from stores (+1.1%)
Main downward contributors:
- Purchase and leasing of passenger vehicles (-4.1%)
- Computer equipment and supplies (-13.7%)
- Fresh fruit (-7.2%)
- Fresh vegetables (-4.7%)
Main contributors to the monthly change of the all-item index not seasonally adjusted (+0.1%):
Main upward contributors:
- Gasoline (+1.7%)
- Air transportation (+6.2%)
- Mortgage interest cost (+0.8%)
- Fuel oil and other fuel (+9.9%)
Main downward contributors:
- Women’s clothing (-4.7%)
- Men’s clothing (-3.2%)
- Traveller accommodation (-2.4%)
- Books and other printed matter (excluding textbooks) (-9.0%)
| Index | Historical information |
|---|---|
| All-items index | 2.4% increase (compared to a 2.5% increase in November). 12-month growth equivalent to December has been posted in October 2007. |
| Core index | 1.5% increase (compared to 1.6% growth in November). Smallest annual increase since December 2005 (+1.5%). |
| All-items index excluding energy | 1.7% growth (compared to a 1.7% rise in November). |
| Goods index | 1.2% increase (compared to 1.4% growth in November). |
| Services index | 3.5% rise (compared to a 3.4% rise in November). |
| Gasoline | 14.9% increase (compared to 17.6% growth in November). Slowest growth since October 2007 (+13.5%). |
| Mortgage interest cost | 7.3% rise (compared to a 7.0% increase in November). Sharpest rise since June 1991 (7.4%). |
| Homeowner’s replacement cost | 4.4% increase (compared to 4.9% in November). Smallest growth since April 2002 (+3.9%). |
| Food purchased from restaurants | 1.1% increase (compared to 0.6% in November). |
| Purchase and leasing of passenger vehicles | 4.1% decrease (compared to a 3.9% decrease in November). Biggest decrease since July 1964 (-4.2%). |
| Computer equipment and supplies | 13.7% decline (compared to a 14.9% drop in November). The slowest decrease since August 2003 (-8.3%). |
| Fresh fruit | 7.2% drop (compared to a 6.2% decrease in November). The sharpest decline posted since June 2000 (-7.6%). |
| Fresh vegetables | 4.7% decrease (compared to a 11.1% decline in November). Smallest drop since July 2007 (-1,1 %). |
| Index | Historical information |
|---|---|
| All-items index | 0.1% rise (compared to a 0.3% increase in November). This index had drop 0.3% in October 2007. |
| Core index | 0.3% decrease (after remaining constant in November). Most significant drop since June 2006 (-0.3%). |
| All-items index excluding energy | 0.1% drop (compared to 0.1% growth in November). This index had drop 0.1% in October 2007. |
| Goods index | 0.2% decline (compared to a 0.5% increase in November). |
| Services index | 0.3% rise (compared to 0.1% in November). |
| Gasoline | 1.7% rise (compared to a 4.0% increase in November). |
| Air transportation | 6.2% growth (compared to 1.0% growth in November). Highest growth since December 2003 (+6.9%). |
| Mortgage interest cost | 0.8% growth (compared to 0.8% rise in November). Growth from 0.7% to 0.8% since July 2007. |
| Fuel oil and other fuel | 9.9% rise (compared to a 4.7% growth in November). Biggest increase since September 2005 (+13.7%). |
| Women’s clothing | 4.7% decrease (compared to a 1.3% increase in November). Biggest decrease since December 2006 (-5.3%). |
| Men’s clothing | 3.2% decline (compared to a 0.7% drop in November). Biggest decrease since June 2007 (-4.5%). |
| Traveller accommodation | 2.4% drop (compared to a 5.5% decrease in November). |
| Books and other printed matter (excluding textbooks) | 9.0% decrease (compared to a constant pace observed in November). Biggest decrease on record. |
