By IB Times Staff Reporter: Subscribe to IB's RSS feed
September 21, 2010 12:54 PM EDT
Canada's annual inflation edged lower to 1.7 percent in August from 1.8 percent in July, while the market consensus was a 1.9 percent rise.
CPI rose by 0.1 percent in August on seasonally adjusted monthly basis in line with the consensus forecast for a flat monthly reading.
Overall, energy prices rose 5.0 percent between August 2009 and August 2010, following a 7.9 percent rise during the 12-month period to July. Excluding energy, the Consumer Price Index (CPI) was up 1.4 percent in August.
While electricity prices rose by 7.7 percent in August, prices for homeowner's replacement costs, passenger vehicle insurance premiums and food purchased from restaurants went up by 5.5 percent, 5.1 percent and 2.5 percent respectively.
After posting 4.8 percent increase in July, Gasoline prices were up by 1.9 percent in August on yearly basis.
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Food index was up by 0.3 percent in August on monthly basis and the health and personal care index rose 0.7 percent while the transportation index dropped by 0.3 percent.
Except clothing and footwear, all other eight components of CPI recorded an increase in prices in August year-on-year. Clothing and footwear index was down by 2.2 percent.
The mortgage interest cost index was down by 3.8 percent in August following a 4.2 percent fall in July.
Even as prices rose in all 12 provinces in Canada, prices in Ontario posted the largest year-on-year increase of 2.9 percent.
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