Canada Inflation Rate at 11-Month High, Core Slows

Consumer prices in Canada went up 1.4 percent year-on-year in November of 2015, slightly below market expectations of a 1.5 percent rise but the highest so far this year, boosted by cost of food and shelter. Annual core inflation slowed to 2 percent from 2.1 percent in the previous two months, reaching the lowest since July last year.
Statistics Canada | Joana Taborda | 12/18/2015 1:43:37 PM
Year-on-year, food prices were up 3.4 percent, after rising 4.1 percent in October. The index for food purchased from stores registered a 3.7 percent gain, following a 4.6 percent increase the previous month. While prices for fresh vegetables and meat contributed the most to the gain, they increased less year over year in November than October. Prices for food purchased from restaurants were up 2.8 percent, following a 2.7 percent increase in October.

The shelter index increased 1.2 percent, following a 1.1 percent gain in Ocober.

The clothing and footwear index increased 2.1 percent, after rising 0.8 percent in October. This acceleration was led by men's clothing prices, which increased more in the 12 months to November (+3.0 percent) than in October (+0.7 percent). In addition, the jewellery index rose 7.8 percent, its largest increase since October 2013.

The transportation index was down 1.1 percent, after decreasing 3.2 percent the previous month. This smaller decline was mainly attributable to gasoline prices, which fell less in the 12 months to November than in October. The purchase of passenger vehicles index was up 1.9 percent in November, after increasing 1.6 percent the previous month.

On a monthly basis, consumer prices edged down 0.1 percent, reversing from a 0.1 percent rise in October.

Canada Inflation Rate at 11-Month High, Core Slows