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12-month change:

  1. The Consumer Price Index (CPI) rose 1.3% in the 12 months to July, following a 1.2% increase in June.
  2. The increase in the CPI in July was led by transportation prices, which rose 2.7% on a year-over-year basis, following a 2.0% gain in June.
  3. In addition to transportation, the shelter component was a main upward contributor to the increase in the CPI in July. At the same time, the food index posted its smallest year-over-year increase in over three years. The index for health and personal care was the only major component to record a decline in July.
  4. Consumer prices rose in nine provinces in the 12 months to July with the largest increase occurring in Manitoba. The exception was British Columbia, where prices posted no change on a year-over-year basis in July.

Month-to-month change:

  1. On a seasonally adjusted monthly basis, the CPI rose 0.2% in July, matching the increases in May and June.
  2. On a monthly basis and before seasonal adjustment, the CPI edged up 0.1% in July, after posting no change in June.

Bank of Canada’s Core Index:

  1. The Bank of Canada’s core index rose 1.4% in the 12 months to July, following a 1.3% increase in June.

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

Main upward contributors:

  1. Gasoline (+6.1%)
  2. Purchase of passenger vehicles (+2.0%)
  3. Natural gas (+12.3%)
  4. Rent (+1.7%)
  5. Property taxes (+2.8%)

Main downward contributors:

  1. Mortgage interest cost (-3.8%)
  2. Video equipment (-9.0%)
  3. Personal care supplies and equipment (-2.8%)
  4. Travel tours (-4.8%)
  5. Prescribed medicines (-4.4%)

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

Main upward contributors:

  1. Traveller accommodation (+6.7%)
  2. Gasoline (+1.3%)
  3. Electricity (+2.0%)
  4. Men’s clothing (+2.7%)
  5. Food purchased from restaurants (+0.3%)

Main downward contributors:

  1. Purchase of passenger vehicles (-1.8%)
  2. Women’s clothing (-3.0%)
  3. Footwear (-1.8%)
  4. Mortgage interest cost (-0.4%)
  5. Personal care supplies and equipment (-1.0%)
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