Briefing notes
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12-month change:
- Consumer prices rose 1.3% in the 12 months to July, following a 1.5% gain in June.
- Higher prices for the purchase of passenger vehicles, food purchased from restaurants, meat and electricity were major factors in the increase of the July Consumer Price Index (CPI).
- Consumer prices rose at a slower rate in eight provinces on a year-over-year basis in July compared with June. Prices in Ontario grew at the slowest pace of any province, while the Quebec CPI recorded the largest increase.
Month-to-month change:
- On a seasonally adjusted monthly basis, the CPI declined 0.1% in July, after decreasing 0.2% in June.
- On a monthly basis and before seasonal adjustment, the CPI fell 0.1% in July, after declining 0.4% in June.
Bank of Canada's core index:
- The Bank of Canada's core index rose 1.7% in the 12 months to July, following a 2.0% gain in June.
Main contributors to the 12-month change in the CPI:
Main upward contributors:
- Purchase of passenger vehicles (+2.3%)
- Food purchased from restaurants (+2.4%)
- Meat (+5.3%)
- Electricity (+3.7%)
- Homeowners' replacement cost (+2.1%)
Main downward contributors:
- Natural gas (-15.2%)
- Clothing (-2.8%)
- Video equipment (-15.5%)
- Mortgage interest cost (-1.4%)
- Gasoline (-1.3%)
Main contributors to the monthly change in the CPI, not seasonally adjusted:
Main upward contributors:
- Traveller accommodation (+5.1%)
- Electricity (+1.0%)
- Fresh fruit (+3.1%)
- Meat (+1.1%)
Main downward contributors:
- Purchase of passenger vehicles (-1.9%)
- Clothing (-1.7%)
- Air transportation (-4.4%)
- Mortgage interest cost (-0.4%)
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