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12-month change:

  1. The Consumer Price Index (CPI) rose 1.5% in the 12 months to May, after increasing 1.7% in April.
  2. Excluding gasoline, the CPI rose 1.9% year over year in May, following a 2.0% gain in April.
  3. On a year-over-year basis, gasoline prices were down 7.1% in May, after declining 5.8% in April. On a monthly basis, gasoline prices registered their third consecutive increase, rising 4.1% in May. This followed an 8.9% monthly gain in April.
  4. Prices rose in all major components in the 12 months to May, with four of the eight major components posting smaller year-over-year gains in May than in April. The smaller year-over-year gain in food prices in May compared with April contributed the most to the deceleration in the CPI.
  5. In eight provinces, consumer prices rose less on a year-over-year basis in May than in April. In Manitoba, the CPI was up more year over year in May than the previous month, while the gain registered in Alberta matched that of April.
  6. The gasoline index decreased in the 12 months to May in all provinces. In the Prairie provinces, gasoline prices were down less year over year in May than in April, while the opposite was observed in the other provinces.

Month-to-month change:

  1. On a seasonally adjusted monthly basis, the CPI increased 0.2% in May, matching the gain in April.
  2. On a monthly basis and before seasonal adjustment, the CPI rose 0.4% in May, following a 0.3% gain in April.

Bank of Canada’s core index:

  1. The Bank of Canada’s core index increased 2.1% in the 12 months to May, after rising 2.2% in April.

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

Main upward contributors:

  1. Purchase of passenger vehicles (+4.3%)
  2. Electricity (+6.4%)
  3. Food purchased from restaurants (+2.6%)
  4. Homeowners’ replacement cost (+2.7%)
  5. Homeowners' home and mortgage insurance (+4.7%)

Main downward contributors:

  1. Gasoline (-7.1%)
  2. Natural gas (-11.2%)
  3. Travel tours (-6.1%)
  4. Mortgage interest cost (-1.3%)
  5. Fuel oil (-17.3%)

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

Main upward contributors:

  1. Gasoline (+4.1%)
  2. Traveller accommodation (+11.0%)
  3. Passenger vehicle insurance premiums (+2.5%)
  4. Telephone services (+1.5%)
  5. Electricity (+1.1%)

Main downward contributors:

  1. Fresh vegetables (-5.1%)
  2. Women’s clothing (-0.9%)
  3. Children’s clothing (-3.6%)
  4. Travel tours (-1.9%)
  5. Personal care supplies and equipment (-0.7%)
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