Statistics Canada has released its monthly report on the Consumer Price Index and inflation for June 2009.
The total CPI index declined 0.3% on a year over year basis from June 2008 to June 2009. This is the first reading of deflation and the first decline in the total CPI index since November 2004. This trend is primarily driven by energy prices, if you recall the price of gasoline were significantly higher at this time a year ago. The decline in energy prices was approximately 24.3% year over year.
The Core CPI index which excludes eight of the most volatile components (fruit, vegetables, gasoline, fuel oil, natural gas, mortgage interest, inter-city transportation and tobacco products) increased a healthy 1.9% from June 2008 – June 2009.
View the full Statistics Canada Consumer Price Index report.
View the Bank of Canada Consumer Price Index data.
