Statistics Canada announced that consumer prices in Quebec increased by 0,1% during the 12 month period finished in May 2009, which is an increase lower than that of 0,4% observed in April. The weaker increase of the Consumer Price Index (CPI) over 12 months was mainly ascribable to a fall from one year to another of 18,3% of the prices of energy-generating products. If one excludes the energy sector, the CPI increased by 2,3%.
Of the eight major components of the CPI, it’s the food prices which will have contributed most to the rise of the CPI.
“The continual reductions in the prices of gasoline and of motor vehicles have caused a fall of 8,2% of the costs of transport, that is to say the principal factor having exerted pressure on the fall of the CPI during the 12 month period finished in May”, specifies Statistics Canada.
“A decline of 0,2% over 12 months of the price index for housing also exerted a pressure on the fall of the CPI in May. This fall was the first observed since July 2002. The pressures exerted on the prices of housing attenuated appreciably in 2009, after having been established on average at 4,4% in 2008. ”