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12-month change:

  1. The Consumer Price Index rose 1.3% in the 12 months to July, after increasing 1.0% in June.
  2. Lower energy prices continued to moderate the year-over-year rise in the CPI; however, the effect was less pronounced in July than in the previous month. In particular, the gasoline index was down 12.2% in the 12 months to July, compared with a 14.1% decrease in June.
  3. Prices were up in seven of the eight major components on a year-over-year basis in July, led by higher prices for food. An increase in the clothing and footwear index also contributed to higher consumer prices. The transportation index, which includes gasoline, recorded its ninth consecutive year-over-year decline.
  4. Consumer prices rose in nine provinces in the 12 months to July. Saskatchewan posted the largest increase, followed by Ontario. Prince Edward Island’s CPI registered its eighth consecutive year-over-year decrease.

Month-to-month change:

  1. On a seasonally adjusted monthly basis, the CPI rose 0.2% in July, after increasing 0.4% in June.
  2. On a monthly basis and before seasonal adjustment, the CPI rose 0.1% in July, after increasing 0.2% in June.

Bank of Canada’s core index:

  1. The Bank of Canada’s core index was up 2.4% in the 12 months to July, following a 2.3% rise in June.

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

Main upward contributors:

  1. Purchase of passenger vehicles (+2.5%)
  2. Meat (+6.1%)
  3. Food purchased from restaurants (+2.7%)
  4. Electricity (+4.4%)
  5. Homeowners’ home and mortgage insurance (+7.5%)

Main downward contributors:

  1. Gasoline (-12.2%)
  2. Natural gas (-10.7%)
  3. Fuel oil (-17.0%)
  4. Mortgage interest cost (-1.3%)
  5. Travel tours (-2.6%)

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

Main upward contributors:

  1. Electricity (+2.4%)
  2. Traveller accommodation (+3.9%)
  3. Men’s clothing (+2.0%)
  4. Gasoline (+0.4%)
  5. Travel tours (+1.6%)

Main downward contributors:

  1. Purchase of passenger vehicles (-1.7%)
  2. Mortgage interest cost (-0.8%)
  3. Footwear (-1.7%)
  4. Dairy products (-0.9%)
  5. Non-alcoholic beverages (-2.7%)
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