Money Matters - Simplified

Consumer prices increase in Canada

Ottawa -- Consumer prices advanced 1.0 percent in Canada from June 2009 to June 2010, after rising 1.4 percent in May, Statistics Canada reported Friday.

The increase was led by a 1.3 percent jump in energy costs for the 12-month June-to-June period. Excluding energy prices, the Consumer Price Index rose 0.9 percent in June, compared to a 1.0 percent hike in May, StatsCan said.

Natural gas rose 3.0 percent in June, the third consecutive monthly increase, and electricity was up 5.8 percent in June after rising 4 percent in May.

Prices for passenger vehicles rose 2.8 percent in June, after increasing 5.1 percent the previous month.

On a seasonally adjusted monthly basis, consumer prices were down 0.2 percent in June, as the transportation and clothing and footware indexes declined 0.7 percent, StatsCan said.

Food costs fell 0.1 percent in June.

Copyright 2010 United Press International, Inc. (UPI).

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