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12-month change:

  1. Consumer prices rose 1.2% in the 12 months to August, following a 1.3% gain in July. Higher prices for the purchase of passenger vehicles, gasoline, meat and food purchased from restaurants were major factors in the year-over-year increase of the August Consumer Price Index (CPI).
  2. Energy prices rose 0.8% in the 12 months to August after posting three consecutive months of year-over-year declines. Gasoline prices rose 2.2% in the 12 months to August, after declining 1.3% in July. The cost of electricity increased 3.4% year over year in August, after a 3.7% rise the month before. In contrast, natural gas prices dropped 13.9% in the 12 months to August, continuing a pattern of decreases observed since January 2011.
  3. Consumer prices in six of ten provinces grew at a larger year-over-year rate compared with Canada. The largest increase was recorded in Quebec's CPI.

Month-to-month change:

  1. On a seasonally adjusted monthly basis, the CPI increased 0.4% in August, after decreasing for three consecutive months.
  2. On a monthly basis and before seasonal adjustment, the CPI rose 0.2% in August, after declining 0.1% in July.

Bank of Canada's Core Index:

  1. The Bank of Canada's core index rose 1.6% in the 12 months to August, following a 1.7% gain in July.

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

Main upward contributors:

• Purchase of passenger vehicles (+2.0%)
• Gasoline (+2.2%)
• Meat (+5.7%)
• Food purchased from restaurants (+2.2%)
• Homeowners' replacement cost (+2.2%)

Main downward contributors:

• Natural gas (-13.9%)
• Mortgage interest cost (-1.8%)
• Video equipment (-15.6%)
• Women's clothing (-3.4%)
• Furniture (-3.0%)

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

Main upward contributors:

• Gasoline (+2.7%)
• Purchase of passenger vehicles (+1.0%)
• Electricity (+1.8%)
• Traveller accommodation (+2.6%)
• Women's clothing (+2.2%)

Main downward contributors:

• Fresh vegetables (-5.1%)
• Telephone services (-1.3%)
• Fresh fruit (-3.8%)
• Children's clothing (-6.4%)
• Air transportation (-2.3%)