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12-month change:

  1. The Consumer Price Index (CPI) rose 2.3% in the 12 months to May, following a 2.0% increase in April.
  2. The year-over-year rise in the CPI in May was led by energy prices, which increased 8.4% in the 12 months to May, matching the rise in April.
  3. Prices increased in all major components in the 12 months to May, with higher prices for shelter, transportation and food contributing the most to the increase in the CPI.
  4. Consumer prices rose in all provinces in the 12 months to May. Ontario posted the largest increase, while British Columbia recorded the smallest. Higher energy prices were observed in all provinces.

Month-to-month change:

  1. On a seasonally adjusted monthly basis, the CPI rose 0.2% in May, following a 0.3% rise in April.
  2. On a monthly basis and before seasonal adjustment, the CPI rose 0.5% in May, after increasing 0.3% in April.

Bank of Canada’s Core Index:

  1. The Bank of Canada’s core index rose 1.7% in the 12 months to May, after increasing 1.4% in April. Meat, traveller accommodation and electricity were notable contributors to the faster rise in May compared with April.

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

Main upward contributors:

  1. Gasoline (+6.3%)
  2. Natural gas (+21.3%)
  3. Meat (+8.0%)
  4. Electricity (+7.0%)
  5. Purchase of passenger vehicles (+2.0%)

Main downward contributors:

  1. Dairy products (-1.6%)
  2. Digital computing equipment and devices (-4.5%)
  3. Coffee and tea (-7.5%)
  4. Cereal products (excluding infant food) (-2.5%)
  5. Video equipment (-4.6%)

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

Main upward contributors:

  1. Traveller accommodation (+13.9%)
  2. Electricity (+3.1%)
  3. Meat (+3.3%)
  4. Gasoline (+0.8%)
  5. Telephone services (+1.3%)

Main downward contributors:

  1. Women’s clothing (-1.5%)
  2. Natural gas (-2.2%)
  3. Homeowners’ maintenance and repairs (-1.4%)
  4. Tools and other household equipment (-2.1%)
  5. Travel tours (-1.2%)
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