The Consumer Price Index (CPI) rose 2.7% on a year-over-year basis in June, down from a 2.9% gain in May. The deceleration was largely the result of slower year-over-year growth in gasoline prices, which rose 0.4% in June following a 5.6% increase in May. Excluding gasoline, the CPI rose 2.8% in June.
Year over year, lower prices for durable goods (-1.8%) also contributed to the slowdown in the all-items CPI in June. Moderating the deceleration was an increase in prices for food purchased from stores (+2.1%), as well as a smaller decline for cellular services in June (-12.8%) compared with May (-19.4%).
On a monthly basis, the CPI fell 0.1% in June, following a 0.6% increase in May. The monthly decrease was driven by lower prices for travel tours (-11.1%) and gasoline (-3.1%). On a seasonally adjusted monthly basis, the CPI rose 0.1% in June.
Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).