Briefing notes

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Highlights:

  1. Consumer prices rose 2.3% in the 12 months to January 2011, following the 2.4% increase posted in December 2010. On a non-seasonally adjusted monthly basis, consumer prices rose 0.3% after remaining unchanged in December.

All-items Consumer Price Index (CPI):

  1. Energy prices rose 9.0% during the 12 months to January, after a 10.5% increase in the previous month. Gasoline prices increased 13.0% in January, matching the increase in December. Consumers also paid 6.4% more for electricity in January compared with the same month last year.
  2. Excluding energy, the CPI rose 1.7% in the 12 months to January, identical to the increase in December.
  3. On a seasonally adjusted monthly basis, consumer prices rose 0.3% from December 2010 to January 2011, the seventh consecutive monthly increase. In addition, the transportation index, which includes gasoline, also increased for the seventh consecutive month, rising 1.1% from December to January. The food index went up 0.5% matching the increase in December.

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

Main upward contributors:

  1. Gasoline (+13.0%)
  2. Electricity (+6.4%)
  3. Passenger vehicle insurance premiums (+4.8%)
  4. Food purchased from restaurants (+2.7%)
  5. Homeowners' replacement cost (+3.6%)

Main downward contributors:

  1. Mortgage interest cost (-2.4%)
  2. Women's clothing (-7.2%)
  3. Computer equipment and supplies (-10.1%)
  4. Video equipment (-10.8%)
  5. Natural gas (-3.3%)

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

Main upward contributors:

  1. Gasoline (+3.5%)
  2. Non-alcoholic beverages (+6.5%)
  3. Fresh vegetables (+4.3%)
  4. Traveller accommodation (+2.4%)
  5. Food purchased from restaurants (+0.5%)

Main downward contributors:

  1. Travel tours (-15.2%)
  2. Natural gas (-5.0%)
  3. Women's clothing (-3.0%)
  4. Sports equipment (-8.8%)
  5. Footwear (-2.2%)
Twelve month and monthly percentage change in the most quoted indexes, not seasonally adjusted