Highlights:

Consumer prices rose 3.5% in August 2008 compared to August 2007, slightly higher than the 3.4% increase posted in the 12 months to July 2008. Consumers continued to face higher prices at the pump, which continued to be the most significant individual upward contributor on consumer prices in the 12 months to August 2008.

All-items Consumer Price Index (CPI):

1. A 26.3% rise in gasoline prices in the 12 months to August 2008 was the primary cause for higher consumer prices and pushed consumer prices to their highest increase since March 2003.
2. Other energy components, such as natural gas and fuel oil and other fuels, also contributed strongly to the rise in consumer prices in August 2008.
3. Rising prices for energy accounted for about half of the increase in the CPI in the 12 months to August 2008.
4. Helping to offset rising energy prices was a drop in prices to purchase and lease passenger vehicles.

Main contributors to the 12-month change of the CPI:

Main upward contributors:

1. Gasoline (+26.3%)
2. Mortgage cost (+8.1%)
3. Natural gas (+31.7%)
4. Fuel oil and other fuels (+49.4%)

Main downward contributors:

1. Purchase and leasing of passenger vehicles (-7.3%)
2. Computer equipment and supplies (-11.6%)
3. Women’s clothing (-3.4%)

Main contributors to the monthly change of the CPI, not seasonally adjusted:

Main upward contributors:

1. Natural gas (+6.3%)
2. Traveller accommodation (+3.0%)
3. Meat (+1.5%)

Main downward contributors:

1. Gasoline (-6.6%)
2. Fresh vegetables (-9.0%)
3. Women’s clothing (-1.7%)