Consumer Price Index Monthly
Consumer Price Index, April 2023
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
All-Items Consumer Price Index by Province
|Year Over year Change (%)||4.4%||3.5%||3.7%||4.5%||4.3%||4.8%||4.2%||5.5%||5.2%||4.3%||4.3%|
|Monthly Change (%)||0.7%||0.8%||0.6%||0.6%||1.0%||0.8%||0.4%||1.1%||1.0%||1.2%||0.5%|
Statistics Canada reported that the year-over-year change in the All-Items Consumer Price Index (CPI) for P.E.I. was 3.7 per cent in April 2023, down from 3.9 per cent in March. This was the second lowest year-over-year increase among provinces. Year-over-year prices rose at a slower pace in April than in March in only 4 provinces. The change to the All-items index for P.E.I. as compared to March 2023 was 0.6 per cent. This compares to 4.4 per cent year-over-year and 0.7 per cent monthly changes for Canada.
Leading contributors to year-over-year price increases for P.E.I. were rent (7.7%), followed by mortgage interest cost1, food purchased from restaurants (7.1%), purchase and leasing of passenger vehicles (4.9%), and personal care supplies and equipment (11.7%). These increases were partially offset by year-over-year declines for fuel oil and other fuels (-27.2%), child care and housekeeping services (-40.5%), internet access services (-10.5%), gasoline (-1.5%), and home entertainment equipment, parts and services (-5.1%).
The monthly change in the All-Items CPI for PEI in April 2023 was 0.6 per cent. Higher prices for gasoline (4.8%), food purchased from restaurants (3.1%), furniture (4.5%), personal care supplies and equipment (4.0%), and traveler accommodation (4.8%), were partially offset by lower prices for fuel oil and other fuels (-15.2%), passenger vehicle parts, maintenance and repairs (-2.8%), cereal products excluding baby food (-5.1%), household appliances (-1.8%), and dairy products (-1.4%).
Prices increased year-over-year in all of the 8 major CPI components and at a slower pace than in March for 4 of the 8 major components. Increases were led by 8.2 per cent increase in food prices and a 7.5 per cent increase in health and personal care costs. Food purchased from stores increased 8.7 per cent year-over-year in April, a slower pace than the 10.3 per cent increase in March. Food purchased from restaurants was up 7.1 per cent year-over-year in April. Energy2 costs decreased by 7.6 per cent year-over-year, following a 6.9 per cent decrease in March.
April 2023 Prince Edward Island CPI Eight Major Components and Energy
|Prince Edward Island CPI Major Components|
|Food||Household operations, furnishings & equipment||Shelter||Clothing & Footwear||Transportation||Health & Personal Care||Recreation, Education, & Reading||Alcohol, Tobacco, & Cannibis||Energy|
|Year Over year Change (%)||8.2%||2.0%||2.0%||2.6%||2.1%||7.5%||3.2%||4.6%||-7.6%|
|Monthly Change (%)||1.0%||1.2%||-1.1%||-1.3%||1.0%||2.6%||1.0%||2.2%||-0.5%|
Excluding energy, PEI’s CPI increased 5.1 per cent year-over-year, fifth highest among provinces. The year-over-year increase in the All-items excluding energy index for Canada was also 5.1 per cent.
April 2023 CPI All-Items and All-Items Excluding Energy, Year-over-Year Change, Canada and Provinces
Nationally, the All-Items CPI rose 4.4 per cent on a year-over-year basis in April, up from a 4.3 per cent increase in March. This was the first acceleration in headline consumer inflation since June 2022, due largely to higher rent prices and mortgage interest costs. Year-over-year prices rose at a slower pace in April as compared to March in five of the eight major components.
The cost of food purchased from stores rose 9.1 per cent in April, down from 9.7 per cent in March. The slowdown was due largely due to smaller price increases for fresh vegetables, coffee and tea.
Gasoline prices rose by 6.3 per cent in April compared with March, the largest monthly increase since October 2022. This increase followed an announcement from OPEC+ (countries from the Organization of Petroleum Exporting Countries Plus) to reduce oil output, pushing prices higher. The switch to summer blend and an increase in carbon levies also contributed to higher prices. Excluding gasoline, the CPI rose 4.9 per cent year-over-year in April, down from 5.2 per cent in March.
On a monthly basis nationally, the All-Items CPI rose 0.7 per cent in April, following a 0.5 per cent increase in March.
For more information on the April 2023 CPI, as well as links to data tables, please refer to Statistics Canada’s release for the Consumer Price Index, April 2023.
Related downloads for this release:
Monthly Consumer Price Index Report PDF (87KB)
1 Data not published at the provincial level
2 The special aggregate "energy" includes: "electricity", "natural gas", "fuel oil and other fuels", "gasoline", and "fuel, parts and accessories for recreational vehicles".
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 May 2023 will be released on June 27, 2023.
Source: Statistics Canada.
Table 18-10-0004-01, Consumer Price Index, monthly, not seasonally adjusted