Retail Services Price Index, second quarter 2016
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Released: 2016-11-17
The Retail Services Price Index (RSPI) advanced 0.7% in the second quarter, with 5 of the 10 major retail subsectors posting margin gains.
Chart 1
Retail Services Price Index
Building material and garden equipment and supplies dealers (+5.1%) posted the largest margin gain in the second quarter, which was mainly concentrated at home centres (+5.6%). Retailers at home centres have posted consistent quarterly margin growth since the fourth quarter of 2014, powering much of the growth in this subsector.
Gasoline stations saw margins increase (+2.1%) as fuel prices rose due to increased seasonal demand and regional fuel supply disruptions. Gasoline stations with convenience stores (+2.9%) and other gasoline stations (+1.6%) both posted margin advances in this subsector.
Retailers at electronics and appliance stores (+1.6%) reported the fifth consecutive margin gain as consumer prices for household appliances continued to increase.
Margins at food and beverage stores edged up 0.5% as a result of increased promotional activity in response to sustained competition from general merchandise stores.
Moderating the overall quarterly increase in the RSPI were margin declines at general merchandise stores (-2.3%), furniture and home furnishing stores (-0.9%) and sporting goods, hobby, book and music stores (-0.8%).
Year-over-year change
The RSPI increased 0.9% in the second quarter compared with the same quarter a year earlier. Of the 10 major retail subsectors, 6 were up and 4 were down.
Building material and garden equipment and supplies dealers (+6.9%) recorded the largest subsector margin increase. Margin growth in this subsector was largely attributable to gains at home centres (+8.7%), supported by higher residential investment in renovations.
Also contributing to the year-over-year increase were gains at electronics and appliance stores (+4.9%). Margins have trended upwards since the second quarter of 2015 in this subsector, reversing the downward trend observed since 2008.
Retailers at clothing and clothing accessories stores (+2.9%) and food and beverage stores (+2.4%) also posted year-over-year gains.
Moderating the year-over-year increase in the RSPI were broad based declines at general merchandise stores (-7.2%). This was the fourth consecutive year-over-year decline posted by this subsector.
Furniture and home furnishing stores (-2.0%) and health and personal care stores (-1.0%) also had a moderating effect on the overall year-over-year rise of the RSPI.
Note to readers
With the release of fourth quarter 2015 data, the Retail Services Price Index (RSPI) was updated to increase its relevance. The RSPI update included the selection of a new sample for 4 of 10 major retail subsectors, the adoption of the 2012 North American Industry Classification System (NAICS) and updates to RSPI basket weights for all retail subsectors. The following retail subsectors were updated with new samples:
- Furniture and home furnishings stores (NAICS 442)
- Electronics and appliance stores (NAICS 443)
- Sporting goods, hobby, book and music stores (NAICS 451)
- General merchandise stores (NAICS 452).
The RSPI series were also converted to 2013=100, with 2013 as the base year. The relative importance of the basket items was updated using the 2013 annual gross margins from the Annual Retail Trade Survey (2447).
Two new CANSIM tables, 332-0024 (monthly) and 332-0025 (quarterly), based on 2013=100 and using new vectors, replaced CANSIM tables 332-0003 and 332-0007, which were terminated with the release of fourth quarter 2015 data. A concordance table of the old CANSIM table vectors with the new CANSIM table vectors is available.
As a result of these updates, users should exercise caution when comparing index levels based on the new basket with index levels based on the old basket.
The RSPI represents the change in the price of the retail service. The price of the retail service is defined as the margin price, which is the difference between the average purchase price and the average selling price of the retail product being priced. The RSPI is not a retail selling price index.
The indexes are not seasonally adjusted. Data are available at the Canada level only.
Infographic: Producer Price Indexes at a Glance
The infographic, "Producer Price Indexes at a Glance," which is part of Statistics Canada — Infographics (11-627-M), is now available. This infographic demonstrates how producer price indexes for goods and services are calculated and why they are important for the Canadian economy.
Contact information
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