Smallest year-over-year gain since October 2009
Consumer prices rose 0.8 per cent in the 12 months to November, following an increase of 1.2 per cent in October, according to data released by Statistics Canada on Dec. 21. This increase is the smallest year-over-year gain in the Consumer Price Index (CPI) since October 2009.
On a seasonally adjusted monthly basis, the CPI decreased 0.2 per cent in November after increasing 0.2 per cent in October.
Gasoline prices increased 0.4 per cent in the 12 months to November, following an increase of 4.0 per cent the previous month. Transportation prices fell 0.2 per cent year-over-year in November after a 1.7 per cent increase in October, which was fuelled by lower prices for passenger vehicles. The cost of natural gas fell 6.8 per cent.
Food prices increased 1.7 per cent, following a 2.0 per cent increase in October. Statistics Canada attributes this to consumers paying 2.1 per cent more for food purchased from restaurants and 4.3 per cent more for meat.
In the United States, the consumer price index decreased 0.3 percent in November after rising 0.1 percent in October. The index for all items less food and energy rose 0.1 percent in November after increasing 0.2 percent in October.