Consumer Price Index up 1.5% year-over-year in Canada
The food index declined on a year-over-year basis for the third consecutive month.
The transportation index rose on a year-over-year basis for the fifth consecutive month, up 3.0% in December, after a 1.4% gain in November.
This increase was led by gasoline prices, which increased 5.5% in the 12 months to December, following a 1.7% decline in November.
At the same time, the purchase of passenger vehicles index rose less year over year in December (+2.6%) than in November (+3.0%), and the air transportation index registered its largest year-over-year gain since August 2013.
The clothing and footwear index increased 0.2% in the 12 months to December, following a 1.2% decline in November.
This turnaround was partly attributable to the women's clothing index, up 2.0% on a year-over-year basis in December after decreasing 0.2% in November.
Additionally, prices for footwear were flat in the 12 months to December, after declining 1.7% the previous month. Meanwhile, the children's clothing index (-4.5%) posted a year-over–year decrease for the eighth consecutive month.
Consumers paid 1.3% less for food in the 12 months to December. Prices for food purchased from stores decreased 2.8% year over year in December, with the fresh vegetables, fresh fruit, and cereal products indexes contributing most to the decline.
In contrast, prices for fish, seafood and other marine products, and prices for sugar and confectionery rose in the 12 months to December.
Prices for food purchased from restaurants were up 2.3% in the 12 months to December, following a 2.5% gain in November. ■