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12-month change:
- The Consumer Price Index (CPI) rose 1.3% in the 12 months to July, after increasing 1.5% in June.
- Excluding gasoline, the CPI was up 1.9% year over year in July, matching the gain in June.
- Prices rose in six of the eight major components in the 12 months to July, with the shelter and food indexes contributing the most to the year-over-year gain in consumer prices. The transportation index, which includes gasoline, and the clothing and footwear index declined on a year-over-year basis in July.
- In seven provinces, consumer prices rose less on a year-over-year basis in July than in June. In Newfoundland and Labrador, New Brunswick and British Columbia, the CPI was up more on a year-over-year basis in July than in the previous month.
Month-to-month change:
- On a seasonally adjusted monthly basis, the CPI wa unchanged in July, after increasing 0.2% in June.
- On a monthly basis and before seasonal adjustment, the CPI declined 0.2% in July, following a 0.2% gain in June.
Bank of Canada’s core index:
- The Bank of Canada’s core index increased 2.1% in the 12 months to July, matching the rise in June.
Main contributors to the 12-month change in the CPI:
Main upward contributors:
- Purchase of passenger vehicles (+5.4%)
- Homeowner’s replacement cost (+3.6%)
- Electricity (+5.4%)
- Food purchased from restaurants (+2.7%)
- Air transportation (+7.1%)
Main downward contributors:
- Gasoline (-14.0%)
- Natural gas (-10.3%)
- Fuel oil (-13.4%)
- Mortgage interest cost (-0.7%)
- Children’s clothing (-4.1%)
Main contributors to the monthly change in the CPI, not seasonally adjusted:
Main upward contributors:
- Traveller accommodation (+5.5%)
- Travel tours (+5.6%)
- Air transportation (+2.6%)
- Natural gas (+3.7%)
- Electricity (+1.0%)
Main downward contributors:
- Gasoline (-5.6%)
- Purchase of passenger vehicles (-1.9%)
- Women’s clothing (-2.6%)
- Footwear (-2.3%)
- Fresh fruit (-2.1%)
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