Inflation rate remained relatively flat in August
Posted September 16, 2020 5:35 am.
Last Updated September 16, 2020 10:02 am.
OTTAWA – The Consumer Price Index rose 0.1 per cent in August on a year-over-year basis, matching the increase seen in July, Statistics Canada says.
#Breaking Canada Consumer Price Index rises 0.1% y/y in August (est. up 0.4%) and down 0.1% m/m. Excluding gasoline, the CPI rose 0.6%.
Source: Statistics Canada— Mike Eppel (@eppman) September 16, 2020
On a seasonally adjusted monthly basis, the rate of inflation also rose 0.1 per cent last month.
The average economist estimate had been for a year-over-year increase of 0.4 per cent for August, according to financial markets data firm Refinitiv.
Gasoline prices remained down 11.1 per cent compared to August 2019, following a 14.9 per cent decline recorded in July.
Excluding gasoline from the inflation calculations, the consumer price index rose by 0.6 per cent in August.
Prices, though, were up in other categories such as personal care services like haircuts, which had a year-over-year increase of 7.2 per cent.
Biggest price movers in the CPI calculations…
Gasoline down 11% y/y
Air fares down 16% y/y
Jewelry up 6.8% y/y
Beef prices up 4.8% y/y— Mike Eppel (@eppman) September 16, 2020
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