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12-month change:

  1. The Consumer Price Index (CPI) rose 0.9% in the 12 months to May, after increasing 0.8% in April.
  2. Lower energy prices continued to moderate the year-over-year rise in the CPI. Excluding energy, the CPI increased 2.2% in the 12 months to May, matching the rise in April.
  3. Prices rose in seven of the eight major components on a year-over-year basis in May, with the rise in the CPI being led by higher prices for food. An increase in the recreation, education and reading index also contributed to higher consumer prices. The transportation index, which includes gasoline, recorded its seventh consecutive year-over-year decline.
  4. Consumer prices rose in nine provinces in the 12 months to May, with Saskatchewan posting the largest increase. Prince Edward Island’s CPI registered its sixth consecutive year-over-year decrease. Every province recorded a year-over-year decline in its energy index.

Month-to-month change:

  1. On a seasonally adjusted monthly basis, the CPI increased 0.4% in May, following a 0.1% decrease in April.
  2. On a monthly basis and before seasonal adjustment, the CPI rose 0.6% in May, after decreasing 0.1% in April.

Bank of Canada’s core index:

  1. The Bank of Canada’s core index increased 2.2% in the 12 months to May, after rising 2.3% in April.

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

Main upward contributors:

  1. Meat (+7.9%)
  2. Food purchased from restaurants (+2.9%)
  3. Telephone services (+5.2%)
  4. Purchase of passenger vehicles (+1.8%)
  5. Homeowners’ home and mortgage insurance (+8.3%)

Main downward contributors:

  1. Gasoline (-17.4%)
  2. Natural gas (-14.4%)
  3. Fuel oil (-18.6%)
  4. Mortgage interest cost (-0.9%)
  5. Video equipment (-7.1%)

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

Main upward contributors:

  1. Gasoline (+5.5%)
  2. Traveller accommodation (+14.7%)
  3. Fresh fruit (+5.1%)
  4. Fresh vegetables (+4.0%)
  5. Purchase of recreational vehicles and outboard motors (+4.3%)

Main downward contributors:

  1. Women’s clothing (-3.0%)
  2. Air transportation (-2.2%)
  3. Natural gas (-1.9%)
  4. Jewellery (-2.4%)
  5. Sporting and exercise equipment (-3.5%)
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