Consumer Price Index Monthly

Consumer Price Index, August 2022

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

  CAN NL PE NS NB QC ON MB SK AB BC
Aug-22 152.6 155.1 159.2 155.7 153.6 148.6 154.1 154.6 154.8 160.0 147.0
Jul-22 153.1 155.9 160.5 156.7 153.9 148.6 154.6 155.3 156.4 161.4 147.6
Aug-21 142.6 145.8 147.0 144.5 143.0 138.7 144.1 143.2 144.9 151.0 137.0
Year Over year Change (%) 7.0% 6.4% 8.3% 7.8% 7.4% 7.1% 6.9% 8.0% 6.8% 6.0% 7.3%
Monthly Change (%) -0.3% -0.5% -0.8% -0.6% -0.2% 0.0% -0.3% -0.5% -1.0% -0.9% -0.4%

Summary

Statistics Canada reported that the year-over-year change in the All-Items Consumer Price Index (CPI) for P.E.I. was 8.3 per cent in August 2022. This was the highest year-over-year increase among provinces, however at a slower pace than the 9.5 per cent increase in July 2022. Year-over-year prices rose at a slower pace in August than in July in all 10 provinces. The monthly change for P.E.I. was -0.8 per cent. This compares to 7.0 per cent year-over-year and -0.3 per cent monthly changes for Canada.

Leading contributors to year-over-year price increases for P.E.I. were gasoline (31.6%), followed by fuel oil and other fuels (37.5%), purchase and leasing of passenger vehicles (7.5%), rent (8.8%), and food purchased from restaurants (7.5%). These increases were partially offset by year-over-year declines for video and audio subscription services (-22.6%), telephone services (-3.4%), home entertainment equipment, parts and services (-2.8%), children's clothing (-4.9%), and passenger vehicle insurance premiums (-0.7%).


The monthly change for P.E.I. in August 2022 was -0.8 per cent. Higher prices for traveler accommodation (5.5%), cereal products excluding baby food (5.1%), household textiles (11.0%), other food preparations*, and paper, plastic and aluminum foil supplies (5.1%), were offset by lower prices for gasoline (-7.9%), fuel oil and other fuels (-12.0%), fresh vegetables (-7.2%), purchase and operation of recreational vehicles (-2.9%), and home entertainment equipment, parts and services (-4.0%).

Prices increased year-over-year in all 8 major CPI components, led by a 13.6 per cent increase in transportation costs (includes gasoline). The cost for food (from both stores and restaurants) remained elevated as prices rose 10.8 per cent, accelerating from the 10.6 per cent increase in July. The price of food purchased from stores increased by 12.0 per cent year-over-year, up from 11.7 per cent in July. Shelter costs increased 9.0 per cent. Energy** costs increased by 30.4 per cent year-over-year, down from a 42.0 per cent increase in July.

August 2022 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
Aug-22 183.2 140.8 166.3 97.7 174.1 143.8 129.1 217.3 263.2
Jul-22 182.1 140.6 168.3 98.8 179.2 142.9 129.9 216.3 285.3
Aug-21 165.4 132.0 152.5 97.4 153.3 133.9 127.3 212.5 201.9
Year Over year Change (%) 10.8% 6.7% 9.0% 0.3% 13.6% 7.4% 1.4% 2.3% 30.4%
Monthly Change (%) 0.6% 0.1% -1.2% -1.1% -2.8% 0.6% -0.6% 0.5% -7.7%

Excluding energy, PEI’s CPI increased 5.8 per cent year-over-year, seventh among provinces. The year-over-year increase in the All-items excluding energy index for Canada was 6.1 per cent.

August 2022 CPI All-Items and All-Items Excluding Energy, Year-over-Year Change, Canada and Provinces

 

Nationally, the All-Items CPI rose 7.0 per cent on a year-over-year basis in August, down from a 7.6 per cent increase in July. Year-over-year prices rose at a slower pace in August as compared to July in five of the eight major components. The deceleration in August was largely due to lower prices for gasoline, which fell 9.6 per cent compared with July 2022.

Gasoline prices rose 22.1 per cent year-over-year. The monthly gas price decline in August compared with July mainly stemmed from higher global production by oil-producing countries. According to data from Natural Resources Canada, refining margins, also fell from higher levels in July. Excluding gasoline, the CPI rose 6.3 per cent year-over-year in August, after a 6.6 per cent increase in July.

The cost of food purchased from stores rose at a faster year-over-year pace in August (10.8%) than in July 2022 (9.9%), rising at the fastest pace since 1981. The supply of food continued to be impacted by multiple factors, including extreme weather, higher input costs, Russia's invasion of Ukraine, and supply chain disruptions.

On a monthly basis nationally, the All-Items CPI fell -0.3 per cent in August, following a 0.1 per cent increase in July.

For more information on the August 2022 CPI, as well as links to data tables, please refer to Statistics Canada’s release for the Consumer Price Index, August 2022.

 

Related downloads for this release:

Monthly Consumer Price Index Report PDF (87KB)

* data not published at the provincial level

** 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 September 2022 will be released on October 19, 2022.

Source: Statistics Canada. Table 18-10-0004-01, Consumer Price Index, monthly, not seasonally adjusted

Published date: 
September 20, 2022
Finance

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