Inflation increases to 2.4 per cent in December

Fuel, electricity, car insurance push Ontario prices

Gasoline prices were the culprit in a 0.4 percentage point increase in the rate of inflation between November and December, Statistics Canada reports. On an annual basis, gasoline was 13.0 per cent higher in December, with natural gas jumping by 9.2 per cent end electricity 6.2 per cent over the same period.

On average, there was no change in prices between November and December.

Of the eight major components that make up the Consumer Price Index, seven increased on an annual basis in December. Only one declined, clothing and footwear, by 2.0 per cent. Transportation saw the largest increase at 4.9 per cent.

Among the provinces, Ontario led for the second straight month with an increase of 3.3 per cent.

In the United States, prices increased by 0.5 per cent between November and December and by 1.5 per cent over the year. Energy, again, was the largest cost push with gasoline 13.8 per cent higher and fuel oil 16.5 per cent.

Inflation rates for earlier base years are available on this site. Click on the “Consumer Price Index” link on the home page to see the table of inflation rates for the provinces and cities and historical data.

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