Consumer Price Index Monthly
Consumer Price Index, June 2020
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 (%)||0.7||0.1||-0.4||0.1||0.2||0.6||0.4||0.4||0.7||1.6||0.5|
|Monthly Change (%)||0.8||0.9||1.0||0.8||0.7||0.7||0.8||0.8||0.9||0.6||0.8|
Statistics Canada reported that the year-over-year change in the All-Items Consumer Price Index for P.E.I. was -0.4 per cent in June 2020. This compares to an increase of 0.7 per cent for Canada. Year-over-year price declines for P.E.I. were led by fuel oil and other fuels (-37.1%), followed by gasoline (-18.3%), traveler accommodation (-20.3%), telephone services (-7.9%), and women's clothing (-7.7%). These declines were mostly offset by year-over-year increases for purchase and leasing of passenger vehicles (2.8%), rent (3.7%), fresh or frozen beef (26.6%), property taxes and other special charges (4.9%), and inter-city transportation (7.7%).
The monthly change for P.E.I. in June 2020 was 1.0 per cent. Lower prices for other food preparations*, preserved fruit and fruit preparations (-9.5%), cereal products excluding baby food (-4.1%), fresh or frozen chicken (-6.2%), and bakery products (-2.5%) were offset by higher prices for gasoline (14.7%), fuel oil and other fuels (9.1%), purchase and leasing of passenger vehicles (0.9%), rent (1.5%), and traveler accommodation (5.9%).
Nationally, the All-Items Consumer Price Index rose 0.7 per cent on a year-over-year basis in June, up from a 0.4 per cent decline in May. Food and shelter prices contributed the most to the increase in the CPI. Meat prices rose 8.1% year over year in June, with beef prices leading the way. Consumers paid 8.3% more for fresh or frozen beef compared with May, the largest monthly increase since May 1982. Prices rose in nine provinces on a year-over-year basis in June.
Impact of COVID-19 on the June CPI
Following large price declines in March and April due to the COVID-19 pandemic, gasoline prices declined at a slower pace for the second consecutive month, mainly as a result of higher demand coinciding with the gradual reopening of businesses and public services, as well as a general increase in local travel in June. Higher prices for crude oil also contributed to this slowing decline, as economies around the world continued to reopen.
Beef prices continue to be high compared to one year ago following the COVID-19-related closure of several large beef processing plants and the reduction in operating capacity at other plants in both April and May.
Clothing and footwear prices began to increase in June, following declines in April and May, as provinces began to allow the reopening of retail outlets and shopping malls.
For more information about the impact of COVID-19 on the CPI, please consult the research document entitled "Consumer expenditures during COVID-19: An exploratory analysis of the effects of changing consumption patterns on consumer price indexes," released on July 13, which explores new sources of expenditure data to estimate basket weights that reflect shifting consumption patterns during the pandemic.
For more information, see the Statistics Canada release at:
*data not published at the provincial level.
Related downloads for this release:
Monthly Consumer Price Index Report PDF (87KB)
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 July 2020 will be released on August 19, 2020.
Source: Statistics Canada. Table 18-10-0004-01, Consumer Price Index, monthly, not seasonally adjusted