Stats Canada published the Consumer Price Index info for February 2008 and year over year the inflation rate is at 1.4% which is up from the January numbers which was 1.1%. The main culprits in this jump are the cost of food and shelter. This makes sense to me, given what I have been seeing. However, the shelter part is a bit confusing.
Food prices, the largest factor, increased 7.4% during the 12-month period to February, on the heels of a 7.3% increase in January. Shelter costs, the second largest, increased 3.0%, slightly slower than the 3.3% rise in January.
Costly Food
Food prices going up I have seen myself in the stores, and this worries me. Fuel prices dropped a great deal quickly. We assume that fuel costs are a major factor in food prices. This continued high rate of price increase is a bit confusing.
Is the system building in a higher price, or are they attempting to recuperate their losses from the past summer due to the increased fuel prices.
Gas Cheap
Gasoline prices in February 2009 were 19.7% below levels in February last year. Excluding gasoline, the CPI rose 2.5% in the 12 months to February. Overall, energy prices fell 8.8% during the 12-month period to February, less than the 10.9% fall in January.
This makes sense to me given what I have seen at the pumps.
Down Trend Over
Inflation had been dropping month to month for 5 months. This is the first month where the CPI went up. This change is due to increased food prices and such. Were we in deflation there for a while? Not really just not increasing as quick.
CPI By Region
| (2002=100) | |||||
|---|---|---|---|---|---|
| Relative importance1 | February 2008 | February 2009 | January 2008 to January 2009 | February 2008 to February 2009 | |
| Unadjusted | |||||
| % change | |||||
| Canada | 100.002 | 112.2 | 113.8 | 1.1 | 1.4 |
| Newfoundland and Labrador | 1.27 | 112.4 | 113.4 | 0.9 | 0.9 |
| Prince Edward Island | 0.35 | 114.6 | 115.7 | -0.1 | 1.0 |
| Nova Scotia | 2.56 | 113.9 | 114.3 | -0.1 | 0.4 |
| New Brunswick | 1.97 | 111.7 | 112.0 | -0.5 | 0.3 |
| Quebec | 21.05 | 111.4 | 112.3 | 0.5 | 0.8 |
| Ontario | 41.22 | 111.4 | 113.1 | 1.4 | 1.5 |
| Manitoba | 3.06 | 111.2 | 113.1 | 1.4 | 1.7 |
| Saskatchewan | 2.64 | 113.6 | 116.5 | 2.4 | 2.6 |
| Alberta | 11.43 | 119.0 | 121.5 | 1.2 | 2.1 |
| British Columbia | 14.29 | 110.3 | 111.9 | 1.4 | 1.5 |
| Whitehorse | 0.06 | 110.1 | 113.7 | 2.4 | 3.3 |
| Yellowknife | 0.08 | 112.3 | 114.5 | 2.7 | 2.0 |
| Iqaluit (Dec. 2002=100) | 0.02 | 108.4 | 111.8 | 3.3 | 3.1 |
Inflation in 2009
- Inflation Edges Up in December 2009 for the first time in a while
- How do you spell INFLATION? In November, it looked like it might start again
- Consumer Price Index is Trending Up Again in October of 2009
- CPI: How Many Negatives Make it Deflation? a good question for September 2009
- CPI Down Again (kind of) for August of 2009. Is that deflation?
- Deflation again! CPI Down for July (sort of) deflation? Not really.
- Inflation down 0.3% for June most of this in June 2009 is caused by gasoline pricing silliness.
- Consumer Price Index for May 2009: Nudges Up but overall, it keeps looking like not much
- CPI For April 2009 at 0.4% Wow , calm down, big fella it is not that good news
- Consumer Price Index Down a Little for March 2009 which is a good thing, don't you think?
- Inflation Jumps for February 2009, did it?
Consumer Price Index 2008
- Inflation was lower in January 2008: some better news to start the New Year?
- February 2008 Inflation was at 1.8%
- March 2008 Inflation dropped to 1.4%
- April 2008 CPI jumped to 1.8%, uh oh
- May 2008 and Inflation is at 2.2%? Ouch!
- June 2008 Inflation Jumped to 3.2% thanks to Gasoline!
- July 2008 CPI at 3.4%? Holy Moly!
- Inflation at 3.5% for August 2008 : Learn about the Consumer Price Index (CPI) data for August 2008. Gain insights into inflation rates and economic indicators.
- September 2008 saw CPI at 3.4% down a very slight amount.
- CPI drops to 2.6% in October 2008: CPI for that month seems to be getting better.
- Consumer Price Index at 1.2% to end 2008. Analyzing the December 2008 Consumer Price Index: Dive into the major factors affecting the CPI, including plummeting gas prices and deflation.
Thanks for that info. Inflation has not been something discussed very widely, other than as a remote possibility lurking in the horizon as a result of money printing.
I wonder why it’s so high in Whitehorse?