Consumer Price Index Commentary, January - September 2009
Next due: January 2010
Consumer Inflation Averaged 0.1% in the January to September 2009 Period
Consumers paid 0.1% more for goods and services in the first nine months of 2009 compared to the same period of 2008.
A notable price increase was recorded in the food category, up 7.2% over the January to September 2008 period, however, this was moderated by a decline in the transportation category, down 8.5%. The transportation category was influenced by a substantial drop in the price of gasoline. The gasoline index was 22.7% lower than the January to September 2008 period. Overall, energy prices decreased by 16.6% in the same period. The "energy" index includes "electricity", "natural gas", "fuel oil", "gasoline", and "fuel, parts and supplies for recreational vehicles".
Price declines were also recorded in clothing and footwear, down 5.3%.
Inflation in Newfoundland and Labrador was on par with national inflation, with growth in the CPI for Canada averaging 0.1% in the January to September period.
The Department of Finance's November 2009 forecast expects inflation to average 0.4% in 2009.
More information on the Bank of Canada and its monitoring of inflation.
More on the Consumer Price Index and to access the Inflation Calculator
Percentage Change from the Same Month of the Previous Year
| Year-over-Year Change Average CPI, Jan - Sep 2009 |
|
|---|---|
| Major Components | Change |
| Alcoholic beverages & tobacco | 1.5% |
| Transportation | -8.5% |
| Shelter | 0.0% |
| Food | 7.2% |
| Health & personal care | 4.8% |
| Household operations & furnishings | 3.5% |
| Recreation, education & reading | 1.1% |
| Clothing & footwear | -5.3% |
| All-Items | 0.1% |
| All-items excluding energy | 2.9% |
Statistical Reference: For the latest in consumer price index statistics visit the Newfoundland & Labrador Statistics Agency site and check the release dates on the Statistics Canada site.