Prices were up in seven of the eight major components in Canada in the 12 months to February, with the transportation and shelter indexes contributing the most to the year-over-year rise in the CPI.
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The food index decreased for a fifth consecutive month.
Transportation costs rose 6.6% over the 12-month period ending in February, after increasing 6.3% in January; this acceleration occurred despite a 0.8% monthly decline in February.
On a year-over-year basis, consumers paid 23.1% more for gasoline and the purchase of passenger vehicles index was up 3.6%.
The recreation, education and reading index was up 3.3% year over year in February, following a 3.2% increase in January.
A 6.2% year-over-year rise in the traveller accommodation index was partly attributable to major sporting events that took place in February.
The travel tours index fell 0.5% year over year in February, after increasing 5.5% a month earlier.
The household operations, furnishings and equipment index rose 0.6% in the 12 months to February, after increasing 1.2% the previous month. This deceleration was led by the telephone services index, which declined 2.2% on a year-over-year basis in February, following a 1.6% increase in January.
In contrast, the Internet access services index rose 0.2% year over year in February, following a 1.0% decline in January.
Consumers paid 2.3% less for food compared with a year ago. Prices for food purchased from stores fell 4.1% in the 12 months to February. On a year-over-year basis, lower prices for fresh vegetables (-14.0%) contributed the most to the decrease in the food purchased from stores index.
The fresh fruit index was down 13.3% over the 12-month period ending in February. The year-over-year declines in the fresh vegetables and the fresh fruit indexes partly reflect a spike in their prices last winter.
The dairy products index was down 2.5% in the 12 months to February, its largest decrease since March 1994, led by lower cheese prices.
Prices for food purchased from restaurants rose 2.3% on a year-over-year basis in February, matching the gain in January. ■