Up slightly from October’s year over year rate of 2.4%the Consumer Price Index is now at 2.5% for November (year over year), with Gasoline prices and Mortgages leading the major cost increase areas.
The interesting quote from Stats Canada was:
However, the Bank of Canada’s core index, used to monitor the inflation control target, rose only 1.6%, posting its slowest 12-month increase since April 2006.
This means that the Bank of Canada is not likely to react to this inflation hike with an interest rate hike in January? We can only hope that is the case.
Tomorrow back to the land of personal finance, but inflation is something I view that directly affects (effects?) my day to day life and like to comment on it every month.
| Consumer Price Index and major components |
| (2002=100) |
|
Relative importance |
November 2007 |
October 2007 |
November 2006 |
October to November 2007 |
November 2006 to November 2007 |
|
|
Unadjusted |
|
|
|
|
|
% change |
| All-items |
100.00 |
111.9 |
111.6 |
109.2 |
0.3 |
2.5 |
| Food |
17.04 |
111.3 |
110.7 |
110.1 |
0.5 |
1.1 |
| Shelter |
26.62 |
118.8 |
118.7 |
114.1 |
0.1 |
4.1 |
| Household operations and furnishings |
11.10 |
103.3 |
103.4 |
102.2 |
-0.1 |
1.1 |
| Clothing and footwear |
5.36 |
96.4 |
97.1 |
97.0 |
-0.7 |
-0.6 |
| Transportation |
19.88 |
116.7 |
115.2 |
112.7 |
1.3 |
3.5 |
| Health and personal care |
4.73 |
108.0 |
107.5 |
106.7 |
0.5 |
1.2 |
| Recreation, education and reading |
12.20 |
102.0 |
102.7 |
100.5 |
-0.7 |
1.5 |
| Alcoholic beverages and tobacco products |
3.07 |
126.5 |
126.3 |
122.3 |
0.2 |
3.4 |
| All-items (1992=100) |
|
133.2 |
132.9 |
130.0 |
0.2 |
2.5 |
| Special aggregates |
|
|
|
|
|
|
| Goods |
48.78 |
107.6 |
107.1 |
106.1 |
0.5 |
1.4 |
| Services |
51.22 |
116.2 |
116.1 |
112.4 |
0.1 |
3.4 |
| All-items excluding food and energy |
73.57 |
109.6 |
109.6 |
107.7 |
0.0 |
1.8 |
| Energy |
9.38 |
136.5 |
134.5 |
123.8 |
1.5 |
10.3 |
| Core Consumer Price Index |
82.71 |
110.3 |
110.3 |
108.6 |
0.0 |
1.6 |
| 1. |
2005 CPI basket weights at April 2007 prices, Canada – Effective May 2007. Detailed weights are available under the Documentation |
|
|
|
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Careful there might be new stats about Hermit Living which might cause a new “Robinson Crusoe Tax”.
–C8j
I love how you see headlines today touting the easing of inflation so that makes the BoC rate cuts justified. . . .
Sure, if you don’t:
1) Eat anything that relies on plants
2) Have a mortgage
3) Heat a home or drive a car
4) Travel from city to city
5) smoke
Sure, you’re fine. Otherwise, inflation is rising . . .
The more news I read the more I want to be a hermit.