Consumer Price Index Monthly
Consumer Price Index, December 2018
This monthly release of the The Consumer Price Index (CPI) for Canada, the provinces, Whitehorse and Yellowknife, provides a descriptive summary of retail price movements, inflation rates and the factors underlying them.
PEI and Canada Consumer Price Index
|Year Over year Change (%)||2.0||0.5||1.3||1.6||0.9||1.1||2.3||2.1||1.1||2.1||3.0|
|Monthly Change (%)||-0.1||-0.7||-0.6||-0.5||-0.6||0.0||-0.1||0.0||-0.4||-0.1||0.1|
|Annual Average 2018||133.4||137.9||136.3||135.3||134.0||129.0||135.0||133.8||137.5||140.6||128.4|
|Annual Average 2017||130.4||135.7||133.2||132.4||131.2||126.9||131.9||130.5||134.4||137.3||125.0|
|Annual Change (%)||2.3||1.6||2.3||2.2||2.1||1.7||2.4||2.5||2.3||2.4||2.7|
Statistics Canada reported that the year-over-year change in the All-Items Consumer Price Index for P.E.I. was 1.3 per cent in December 2018. This compares to a rise of 2.0 per cent for Canada. Year-over-year price increases for P.E.I. were led by inter-city transportation (26.1%), followed by other fresh or frozen poultry*, passenger vehicle insurance premiums (5.2%), travel tours*, and mortgage interest cost*. These increases were partially offset by year-over-year declines for gasoline (-7.2%), electricity (-4.8%), internet access services (-11.6%), household appliances (-7.4%), and fresh or frozen pork (-18.9%).
The monthly change for P.E.I. in December 2018 was -0.6 per cent. Lower prices for fuel oil and other fuels (‑13.3%), gasoline (-7.2%), women's clothing (-4.5%), traveller accommodation (-5.2%), and men's clothing (-6.2%) were partially offset by higher prices for inter-city transportation (20.3%), purchase and leasing of passenger vehicles (1.2%), fresh vegetables (6.7%), processed meat (4.4%), and fresh fruit (4.9%).
PEI / CANADA CONSUMER PRICE INDEX ANNUAL 2018
The change in the All-Items Consumer Price Index annual average for P.E.I. in 2018 showed an increase of 2.3 per cent. Energy prices on P.E.I. increased by 10.0 per cent over 2017, followed by transportation prices which increased by 4.8 per cent. Core inflation (all items excluding energy and food) increased by 1.5 per cent.
All provinces saw consumer prices increase in 2018. Prices increased at a faster rate than 2017 in all provinces except Newfoundland and Labrador and New Brunswick. British Columbia and Manitoba posted the largest increases in annual average CPI.
The annual average increase for Canada was also 2.3 per cent, following an increase of 1.6 per cent in 2017. Increases occurred in food prices by 1.8 per cent, energy by 6.7 per cent, and shelter by 0.8 per cent. Prices for gasoline increased by 12.6 per cent, as an increase in global crude oil prices and exchange rate pressures led to higher prices at the pump. Core inflation for Canada was 1.9 per cent in 2018.
*data not released at the provincial level.
Related downloads for this release:
Monthly Consumer Price Index Report PDF (87KB)
The CPI for January 2019 will be released on February 27, 2019.
With the release of the January 2019 Consumer Price Index (CPI), the basket of goods and services used in the calculation of the CPI will be updated. For more information on basket updates, consult The Canadian Consumer Price Index Reference Paper, chapter 8, 'Weights and Basket Updates.'