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August 11, 2020
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Annual inflation rate in May sinks 0.4 per cent: Statistics Canada

OTTAWA — Statistics Canada says inflation pulled back even further in May as businesses shut due to the COVID-19 pandemic began to reopen slowly.

The agency says the consumer price index fell 0.4 per cent compared with a year ago, making it the second month in a row for negative inflation after a 0.2 per cent drop for April.

Prices rose in four of the eight major components on a year-over-year basis.

Transportation prices contributed the most to the overall decline, mainly because of lower gas prices compared with May last year.

Statistics Canada says that excluding gasoline, the consumer price index rose 0.7 per cent, the smallest increase since January 2013.

Economists on average expected the consumer price index to remain unchanged compared with a year ago — meaning an annual inflation rate of zero.

Here’s what happened in the provinces (previous month in brackets):

  • Newfoundland and Labrador: -1.3 per cent (-1.5)
  • Prince Edward Island: -1.5 (-1.3)
  • Nova Scotia: -0.9 (-0.6)
  • New Brunswick: -0.8 (-1.3)
  • Quebec: -0.4 (0.2)
  • Ontario: -0.4 (-0.1)
  • Manitoba: -0.5 (-0.6)
  • Saskatchewan: -0.6 (-1.4)
  • Alberta: 0.1 (-0.5)
  • British Columbia: -0.2 (0.0)

The agency also released rates for major cities, but cautioned that figures may have fluctuated widely because they are based on small statistical samples (previous month in brackets):

  • St. John’s, N.L.: -1.1 per cent (-1.1)
  • Charlottetown-Summerside: -1.5 (-1.3)
  • Halifax: -0.7 (-0.3)
  • Saint John, N.B.: -0.5 (-0.9)
  • Quebec: -0.2 (0.2)
  • Montreal: 0.0 (0.8)
  • Ottawa: 0.3 (0.8)
  • Toronto: -0.4 (0.0)
  • Thunder Bay, Ont.: -1.3 (-0.5)
  • Winnipeg: -0.4 (-0.3)
  • Regina: -0.6 (-1.5)
  • Saskatoon: -0.3 (-0.9)
  • Edmonton: -0.1 (-0.3)
  • Calgary: 0.1 (-0.6)
  • Vancouver: -0.2 (0.1)
  • Victoria: -0.2 (-0.1)

This report by The Canadian Press was first published June 17, 2020.

Click Here to Visit Orignal Source of Article https://www.ctvnews.ca/canada/annual-inflation-rate-in-may-sinks-0-4-per-cent-statistics-canada-1.4987592

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