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Consumer Price Index
Consumer Price Index (2002=100) June 2014
  Nova Scotia Canada
CPI by Component June'14 Index % Change from May'14 %Change June'13 June'14 index % Change from May'14 %Change from June'13
All-Items 129.2 -0.2 2.2 125.9 0.1 2.4
Food 142.4 0.5 1.5 136.4 0.5 2.9
Shelter 141.4 -0.1 2.8 132.2 -0.3 2.9
Household Operations & Furnishings 117.1 0.1 2.0 116.4 0.5 1.9
Clothing & Footwear 95.0 -3.7 1.4 92.7

-1.9

1.6
Transportation 128.0 -0.3 2.9 133.1 0.3 2.2
Health & Personal Care 116.3 -0.5 0.8 119.0

-0.2

0.5
Recreation, Education & Reading 109.4 -0.5 1.6 108.2 0.4 1.5
Alcoholic Beverages &
Tobacco Products
176.1 0.1 4.1 146.7 0.3 4.1
     Energy 187.6 -0.4 7.7 173.0

0.2

6.7
     All-items excluding Energy 122.8 -0.3 1.5 122.2 0.1 1.9
     All-items excluding Food & Energy 118.3 -0.5 1.5 119.1 0.0 1.6
             

 

Nova Scotia’s consumer price index (CPI) was down 0.2 percent from May 2014, falling to 129.2 in June 2014. National CPI was up 0.1 percent month to month to 125.9.  Halifax’s CPI was down 0.4 per cent from May to 127.7.

Nova Scotia’s CPI increased 2.2 per cent over June 2013. National CPI increased 2.4 per cent. Halifax’s CPI increased 2.2 per cent.

After excluding food and energy, the Nova Scotia CPI increased 1.5 per cent in June, lower than the national average (1.6%) on a year over year basis. Excluding food and energy, Alberta had the highest price increase in the country on a year over year basis (2.6%). All provinces saw year over year increases this month.  

Canada’s core CPI (which excludes volatile commodity prices) increased 1.8 per cent compared to June 2013 and sits at 123.2 this month.

 

Main contributors to monthly (June 2014 vs. May 2014) NS CPI movement:

Coffee and tea (17.5%)

Non-electrical kitchen utensils, tableware or cookware  (16.1%)

- Furniture (-5.5%)

- Men's clothing (-10.1%)

 

Main contributors to annual (June 2014 vs. June 2013) NS CPI movement:

-  Fresh or frozen beef (+17.4%)

- Fuel oil and other fuels (+15.2%)

- Furniture (-5.0%)

- Home entertainment equipment, parts and services  (-9.2%)

 
Analysis of Nova Scotia's Consumer Price Index for June 2014

At 2.2 per cent year over year, Nova Scotia's consumer price index was below the national average of 2.4 per cent from June 2013 to June 2014. Within Atlantic Canada, Newfoundland and Labrador posted the highest year over year CPI increase (+2.5%). New Brunswick and PEI both posted increases of 2.0 per cent.  West of Atlantic Canada, the highest inflation year over year was in Ontario (+3.0 per cent).  

 
 

Nova Scotia's CPI excluding food and energy rose 1.5 per cent, slightly below the national rate (1.6%) on a year over year basis. Price level gains in Quebec were up 1.2 per cent compared to a year earlier. CPI Excluding food and energy grew the most (+2.6%) in Alberta on a year over year basis. 

The CPI growth for food (year over year) in Nova Scotia was 1.5 per cent, while it was up 7.7 per cent for energy (see the following two charts). Nova Scotia's price index for fuel oils and other fuels was up 15.2 per cent compared to a year ago. 

 

 
The following table shows the price increases specific to Nova Scotia for the major components of the CPI this month:
 
 
Long Run Trends
 
The recent year over year trend in the All-Items Consumer Price Index for Nova Scotia shows changes at the national and the provincial level moving in opposite directions (National going from 2.3% last month to 2.4% this month, Nova Scotia moving from 2.5% last month to 2.2% this month).While month to month movements in the indices can be different, over time they continue to follow the same overall trend. 
 
This month's year over year trend in CPI less food and energy shows Nova Scotia's and Canada's CPI also moving in opposite directions, Nova Scotia's falling off and Canada's slightly on the rise.  
 
 
 

SUMMARY TABLES
 
Annual changes in All Items Consumer Price Index, Nova Scotia
  2011 2012 2013 2014
CPI All-Items 2002=100
January 120.4 123.7 125.4 127.4
February 120.9 124.3 126.7 128.4
March 122.3 125.3 126.7 128.9
April 122.9 126.1 126.8 129.1
May 123.2 125.6 126.4 129.5
June 122.5 124.8 126.4 129.2
July 122.8 124.5 126.4  
August 123.2 125.0 126.6  
September 123.8 125.7 127.3  
October 123.9 125.6 126.7  
November 124.0 125.5 126.7  
December 122.7 124.9 126.7  
Annual Average 122.7 125.1 126.6 128.8
  change from same month, previous year
CPI All-Items 2011 2012 2013 2014
January 3.0% 2.7% 1.4% 1.6%
February 3.4% 2.8% 1.9% 1.3%
March 3.9% 2.5% 1.1% 1.7%
April 4.2% 2.6% 0.6% 1.8%
May 4.6% 1.9% 0.6% 2.5%
June 4.4% 1.9% 1.3% 2.2%
July 3.5% 1.4% 1.5%  
August 3.8% 1.5% 1.3%  
September 4.2% 1.5% 1.3%  
October 3.9% 1.4% 0.9%  
November 3.7% 1.2% 1.0%  
December 2.8% 1.8% 1.4%  
Annual Average Growth * 3.8% 2.0% 1.2%  
*Statistics Canada Calculation        

 

Annual changes in All Items Excluding Food and Energy Consumer Price Index, Nova Scotia
  2011 2012 2013 2014
  2002=100
January 113.0 113.9 115.7 117.1
February 113.1 114.3 116.1 118.1
March 113.9 115.1 116.6 118.5
April 113.9 115.8 116.9 118.6
May 114.4 115.9 116.8 118.9
June 113.5 115.4 116.5 118.3
July 113.8 114.9 116.4  
August 114.2 115.1 116.4  
September 115.3 115.7 117.5  
October 115.3 115.9 117.3  
November 115.3 116.1 117.0  
December 113.9 115.8 116.7  
Annual Average 114.1 115.3 116.7 118.3
  change from same month, previous year
CPI All-Items Excl Food and Energy 2011 2012 2013 2014
January 2.1% 0.8% 1.6% 1.2%
February 1.8% 1.1% 1.6% 1.7%
March 2.0% 1.1% 1.3% 1.6%
April 1.6% 1.7% 0.9% 1.5%
May 2.2% 1.3% 0.8% 1.8%
June 1.6% 1.7% 1.0% 1.5%
July 0.9% 1.0% 1.3%  
August 1.2% 0.8% 1.1%  
September 1.7% 0.3% 1.6%  
October 1.8% 0.5% 1.2%  
November 1.6% 0.7% 0.8%  
December 0.8% 1.7% 0.8%  
Annual Average Growth * 1.6% 1.1% 1.2%  
*Statistics Canada Calculation        

Data Source: Statistics Canada "Consumer Price Index". CANSIM Table 326-0020, Table 326-0021 (Annual)

This monthly publication reports the Consumer Price Index (CPI) and its major components for Nova Scotia. It highlights the current month CPI, comparing it to previous month and same month one year ago. It also includes annual averages of the CPI. This month, the CPI report features additional analysis of Nova Scotia's Consumer Price Index results.

CPI for June 2014 will be released August 22, 2014

Contact: Mike Milloy, milloymz@gov.ns.ca (902-424-8800)

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The Economics and Statistics Division monitors Nova Scotia's macroeconomic environment - tracking the global conditions that influence how our economy performs and the results we see here in the Province. If you want to learn more, you can contact an expert member of our team at the phone number or email address below. These experts can help you find additional data and analysis to learn about Nova Scotia's economy.

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Thomas Storring
Director of Economics/Statistics
Tel: 902-424-2410
Email: storrith@gov.ns.ca


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Mike Milloy
Planning and Development Officer
Tel: 902-424-8800
Email: milloymz@gov.ns.ca