Canada’s Consumer Price Index rises

July 21st, 2012 - 2:23 pm ICT by IANS  

Vancouver, July 21 (IANS) Canada’s Consumer’s Prices Index (CPI) rose 1.5 percent in the 12 months to June, following a 1.2 percent gain in May, the country’s national statistical agency said.

The increase in CPI was led by higher prices for the purchase of passenger vehicles and, to a lesser extent, for electricity, Statistics Canada said Friday.

Prices for the purchase of passenger vehicles increased 3.9 percent year over year in June, which was the result of less discounting by manufacturers compared with June 2011, reported Xinhua.

The cost of electricity rose 5.9 percent year-on-year in June, mostly as a result of increases in the provinces of Ontario, Alberta and British Columbia, it said.

Despite the increase in electricity prices, the energy index declined 0.8 percent in the 12 months to June, following a 1.6 percent decrease in May.

Gasoline prices fell 1.8 percent after declining 2.3 percent in May.

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