Consumer Price Index Monthly
Consumer Price Index, December 2021
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 (%)||4.8||4.2||6.7||4.8||5.4||5.1||5.2||4.7||3.5||4.8||3.9|
|Monthly Change (%)||-0.1||-0.4||-0.4||-0.4||-0.2||-0.2||0.0||-0.5||-0.6||0.1||-0.1|
|Annual Average 2020||137.0||139.6||137.9||137.9||136.6||132.8||138.4||137.5||140.7||144.7||132.4|
|Annual Average 2021||141.6||144.7||144.9||143.5||141.8||137.8||143.2||142.0||144.4||149.3||136.1|
|Annual Change (%)||3.4||3.7||5.1||4.1||3.8||3.8||3.5||3.3||2.6||3.2||2.8|
Statistics Canada reported that the year-over-year change in the All-Items Consumer Price Index for P.E.I. was 6.7 per cent in December 2021, the tenth consecutive month PEI has had the highest year-over-year increase among provinces. Prices rose at a slower pace in December than in November (7.0%). This compares to a rise of 4.8 per cent for Canada. Year-over-year price increases for P.E.I. were led by gasoline (32.6%), followed by fuel oil and other fuels (53.3%), purchase and leasing of passenger vehicles (7.3%), homeowners' replacement cost (15.5%), and rent (11.1%). These increases were partially offset by year-over-year declines for telephone services (-11.7%), mortgage interest cost*, video and audio subscription services (-16.7%), recreational equipment and services excluding recreational vehicles (-2.0%), and internet access services (-2.6%).
The monthly change for P.E.I. in December 2021 was -0.4 per cent. Lower prices for fuel oil and other fuels ( 10.1%), gasoline (-6.1%), recreational equipment and services excluding recreational vehicles (-6.2%), traveler accommodation (-5.0%), and women's clothing (-5.3%) were mostly offset by higher prices for rent (5.3%), homeowners' home and mortgage insurance (7.6%), inter-city transportation (24.1%), other food preparations*, and purchase and leasing of passenger vehicles (0.6%).
PEI / CANADA CONSUMER PRICE INDEX
The change in the All-Items Consumer Price Index annual average for P.E.I. in 2021 was 5.1 per cent as compared to 2020. This was the highest annual increase among provinces. Annual inflation for PEI in 2020 was 0.0 per cent. Increases occurred in seven of the eight major components, with transportation (9.6 per cent), shelter (8.5 per cent), and alcoholic beverages, tobacco products and recreational cannabis (4.1 per cent) increasing the most. Prices for clothing and footwear declined by 1.7 per cent. Energy prices on P.E.I. increased by 26.6 per cent over 2020, with prices for fuel oil and other fuels rising by 46.1 per cent, gasoline prices rising 35.0 per cent, and electricity by 1.6 per cent. Food prices increased 3.2 per cent, led by a 5.9 per cent increase in prices for meat products. Core inflation (all items excluding energy and food) increased 2.9 per cent.
Nationally, all provinces saw consumer prices increase in 2021 and at a faster pace as compared to 2020. PEI posted the largest increase in annual average CPI at 5.1 per cent, followed by Nova Scotia at 4.1 per cent and New Brunswick and Quebec, both at 3.8 per cent.
The annual average increase for Canada was 3.4 per cent, following an increase of 0.7 per cent in 2020. This was the fastest growth since 1991. Increases occurred in seven of the eight major components, with transportation (7.2 per cent) and shelter (3.9 per cent) increasing the most. Declines occurred for clothing and footwear (-0.3 per cent). Energy increased by 18.9 per cent compared to 2020, while core inflation for Canada was 2.3 per cent in 2021.
Related downloads for this release:
Monthly Consumer Price Index Report PDF (87KB)
* data not published at the provincial level
Visit the Consumer Price Index Portal to find all CPI data, publications, interactive tools, and announcements highlighting new products and upcoming changes to the CPI in one convenient location.
The CPI for January 2022 will be released on February 16, 2022.
Source: Statistics Canada.
Table 18-10-0004-01, Consumer Price Index, monthly, not seasonally adjusted
Table 18-10-0005-01 Consumer Price Index, annual average, not seasonally adjusted