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The Consumer Price Index
April 2008
Archived Content
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Briefing notes
All-items Consumer Price Index:
- Gasoline was the main contributor to both the acceleration and the 12-month increase of the all-items index. Gasoline prices rose 11.6% between April 2007 and April 2008, compared with a 7.9% increase posted in the previous month.
- Another significant upward contributor to the increase in consumer prices in April was mortgage interest cost.
- The 12-month change in the Bank of Canada’s core index, which is used to monitor the inflation control target, rose 1.5% in April, faster than the 1.3% increase in the preceding month. Less downward pressure from passenger vehicles prices contributed to this acceleration.
Main contributors to the 12-month change of the all-item index (+1.7%):
Main upward contributors:
- Gasoline (+11.6%)
- Mortgage interest cost (+8.7%)
- Fuel oil and other fuels (+36.9%)
- Homeowner’s replacement cost (+4.6%)
Main downward contributors:
- Purchase and leasing of passenger vehicles (-6.6%)
- Fresh vegetables (-17.3%)
- Women’s clothing (-6.7%)
- Computer equipment and supplies (-14.4%)
Main contributors to the monthly change of the all-item index not seasonally adjusted (+0.8%):
Main upward contributors:
- Gasoline (+6.0%)
- Natural gas (+6.2%)
- Air transportation (+4.8%)
- Electricity (+1.6%)
Main downward contributors:
- Women’s clothing (-3.8%)
- Men’s clothing (-1.6%)
| Annual percentage | Monthly percentage | |||
|---|---|---|---|---|
| Percentage change April 2008 from April 2007 | Percentage change March 2008 from March 2007 | Percentage change April 2008 from March 2008 | Percentage change March 2008 from February 2008 | |
| percent | ||||
| All-items | 1.7 | 1.4 | 0.8 | 0.4 |
| Core consumer price index (CPI) (Bank of Canada definition) | 1.5 | 1.3 | 0.3 | 0.2 |
| All-items excluding energy | 1.1 | 1.0 | 0.3 | 0.2 |
| Goods | 0.0 | -0.6 | 1.0 | 0.7 |
| Services | 3.3 | 3.3 | 0.5 | 0.2 |
| Index | Historical information |
|---|---|
| All-items index | 1.7% increase (after a 1.4% increase in March). First acceleration since November 2007. |
| Core index | 1.5% increase (compared to 1.3% growth in March). Same growth as in February 2008. |
| All-items index excluding energy | 1.1% increase (following a 1.0% growth in March). |
| Goods index | Remained unchanged (after a 0.6% decline in March). |
| Services index | 3.3% rise (an unchanged rate of growth from March). |
| Gasoline | 11.6% increase (compared to 7.9% growth in March). |
| Mortgage interest cost | 8.7% rise (after a 8.3% increase in March). Sharpest rise since May 1991 (8.9%). |
| Fuel oil and other fuels | 36.9% increase (compared to 29.6% growth in March). Sharpest increase since September 2005 (+37.0%). |
| Homeowner’s replacement cost | 4.6% increase (compared to a 4.8% rise in March). |
| Purchase and leasing of passenger vehicles | 6.6% decrease (following a 7.1% drop in March). |
| Fresh vegetables | 17.3% decline (compared to a 17.8% drop in March). |
| Women's clothing | 6.7% decrease (after a 4.3% decline in March). |
| Computer equipment and supplies | 14.4% drop (following a 14.9% decrease in March). |
| Index | Historical information |
|---|---|
| All-items index | 0.8% hike (after a 0.4% increase in March). |
| Core index | 0.3% rise (following a 0.2% rise in March). |
| All-items index excluding energy | 0.3% growth (compared to 0.2% hike in March). |
| Goods index | 1.0% rise (following a 0.7% increase in March). Sharpest rise since March 2007 (+1.3%). |
| Services index | 0.5% increase (after a 0.2% growth in March). |
| Gasoline | 6.0% rise (compared to a 3.6% growth in March). The steepest increase since March 2007 (+12.4%). |
| Natural gas | 6.2% growth (compared to 2.2% increase in March). This index grew 9.0% in April 2007. |
| Air transportation | 4.8% rise (after a 1.3% hike in March). |
| Electricity | 1.6% rise (after a 0.1% drop in March). |
| Women's clothing | 3.8% drop (following a 3.0% rise in March). |
| Men's clothing | 1.6% decline (after a 1.3% growth in March). |
