Canadian consumer price index (CPI) increased 1.9 percent in December on a year-over-year, according to its Statistics Department release. This came on the back of a 2.1 percent gain seen in the preceding month.
Canadian all items, excluding gasoline index, expanded 1.5 percent on a year-on-year basis. This matched the increase recorded in the preceding month.
Of the eight major components, Canada has seen seven components witnessing an in the 12-months to December. Transportation and shelter indices contributed the most to the expansion in CPI during the month.
However, the household operations, furnishings and equipment index fell 0.3 percent from the previous year period.
The release added, “Consumer prices for transportation rose 4.9% on a year-over-year basis in December, following a 5.9% increase in November. The movement in transportation prices was led by gasoline, which rose 12.2% year over year in December, after increasing 19.6% the previous month. The purchase of passenger vehicles index increased 3.7% in the 12-month period ending in December.”
Canadian CPI expanded less in eight provinces in December than the preceding month. New Brunswick recorded 2.9 percent followed by Quebec with 1.8 percent increase were the provinces to gain more than the previous month’s year-over-year gain.