September 17, 2009

Overall Canadian prices down in August

Canadian consumer prices fell 0.8 percent on an annual basis in August, led largely by a 21.2 percent decline in gas prices, Statistics Canada said Thursday.

The August Consumer Price Index decline followed a 0.9 percent dip in July.

Excluding energy, the Consumer Price Index rose 1.4 percent between August 2008 and August 2009, StatsCan said.

Three of the eight major components reported price declines: transportation, shelter, and clothing and footwear.

Among the elements that rose were food prices, up 4 percent on an annual basis, home furnishings and equipment were up 2.5 percent and health and personal care increased by 2.9 percent, the report said.

Regionally, Saskatchewan and Quebec were the only two provinces to experience overall price increases, the figures show.