Statistics Canada
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The Consumer Price Index

December 2007


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Briefing notes

All-items Consumer Price Index:

  1. 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.
  2. 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.
  3. The 12-month decrease in vehicle purchase and lease prices (-4.1%) was the main factor that mitigated the rise in consumer prices.
  4. 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.
Annual and monthly percentage change in the most quoted indexes
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
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:

  1. Gasoline (+14.9%)
  2. Mortgage interest cost (+7.3%)
  3. Homeowner’s replacement cost (+4.4%)
  4. Food purchased from stores (+1.1%)

Main downward contributors:

  1. Purchase and leasing of passenger vehicles (-4.1%)
  2. Computer equipment and supplies (-13.7%)
  3. Fresh fruit (-7.2%)
  4. Fresh vegetables (-4.7%)

Main contributors to the monthly change of the all-item index not seasonally adjusted (+0.1%):

Main upward contributors:

  1. Gasoline (+1.7%)
  2. Air transportation (+6.2%)
  3. Mortgage interest cost (+0.8%)
  4. Fuel oil and other fuel (+9.9%)

Main downward contributors:

  1. Women’s clothing (-4.7%)
  2. Men’s clothing (-3.2%)
  3. Traveller accommodation (-2.4%)
  4. Books and other printed matter (excluding textbooks) (-9.0%)
Historical information on the main indices and the main contributors to the 12-month change
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 %).
Historical information on the main indices and the main contributors to the monthly change
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.