Consumers paid 0.8% more for goods and services in the first three months of 2009 than in the same period of 2008.

A notable price increase was recorded in the food category, up 8.8% over the January to March 2008 period, however, this was moderated by a decline in the transportation category, down 8.8%.  The transportation category was influenced by a substantial drop in the price of gasoline.  The gasoline index was 22.6% lower than the January to March 2008 period.  Overall, energy prices decreased by 12.9% 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 7.9%.

Nationally, inflation was higher than the province, with growth in the CPI averaging 1.2% in the January to March period.

The Department of Finance’s March 2009 forecast expects inflation to average 1.0% 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

CPI All-items - Percentage Change from the Same Month of the Previous Year - Newfoundland & Labrador	Year-over-Year Change  Average CPI, Jan - Mar 2009 Major Components Change Alcoholic beverages & tobacco 1.1% Transportation -8.8% Shelter 3.6% Food 8.8% Health & personal care 4.0% Household operations & furnishings 2.8% Recreation, education & reading 0.3% Clothing & footwear -7.9% All-Items 0.8% Energy -12.9% All-items excluding energy 2.9%