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Consumer Price Index
Consumer Price Index (2002=100) February 2014
  Nova Scotia Canada
CPI by Component Feb'14 Index % Change from Jan'14 %Change Feb'13 Feb'14 index % Change from Jan'14 %Change from Feb'13
All-Items 128.4 0.8 1.3 124.1 0.8 1.1
Food 139.4 -0.1 -0.6 1354.3 1.0 1.1
Shelter 141.2 0.4 2.3 130.7 0.2 2.2
Household Operations & Furnishings 116.6 1.3 2.2 115.3 0.5 0.9
Clothing & Footwear 95.9 -0.9 2.1 91.0 2.0 -0.4
Transportation 127.6 1.7 0.4 130.8 1.2 0.4
Health & Personal Care 115.9 0.2 -0.3 118.4

0.1

-0.2
Recreation, Education & Reading 108.8 2.0 2.4 106.4 1.6 1.6
Alcoholic Beverages &
Tobacco Products
174.0 2.5 6.0 142.9 1.4 2.5
     Energy 186.4 2.3 2.3 162.6

1.5

1.6
     All-items excluding Energy 121.4 0.3 1.2 120.1 0.2 1.2
     All-items excluding Food & Energy 118.1 0.9 1.7 118.2 0.8 1.1

 

Nova Scotia’s consumer price index (CPI) was up 0.8 percent from January 2014, rising to 128.4 in February 2014. National CPI was up 0.8 percent month to month to 124.1.  Halifax’s CPI was up 0.8 per cent from January to 127.0.

Nova Scotia’s CPI increased 1.3 per cent over February 2013. National CPI increased 1.3 per cent. Halifax’s CPI increased 1.4 per cent.

After excluding food and energy, the Nova Scotia CPI increased 1.7 per cent in February, higher than the national average on a year over year basis. Excluding food and energy, PEI had the highest price increase in the country on a year over year basis (2.4%). The only CPI decrease in February compared to a year earlier) was in BC at -0.2 per cent. 

Canada’s core CPI (which excludes volatile commodity prices) increased 1.2 per cent compared to February 2013 and sits at 122.1 this month.

 

Main contributors to monthly (February 2014 vs. January 2014) NS CPI movement:

- Furniture (+10.6%)

- Cigarettes (+4.6%)

- Footwear (-4.1%)

- Fresh or frozen chicken (-5.3%)

 

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

- Cigarettes (+9.4%)

- Cablevision and satellite services (+9.3%)

- Fresh vegetables (-7.0%)

- Fresh or frozen chicken  (-10.9%)

 
 

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

At 1.3 per cent year over year, Nova Scotia's consumer price index was above the national average of 1.1 per cent from February 2013 to February 2014. Within Atlantic Canada, New Brunswick posted the lowest year over year CPI increase (+1.1%). Newfoundland and Labrador increased 1.4 per cent, and PEI increased 2.7 per cent, year over year.  West of the Maritimes, the highest inflation year over year was in Alberta (+2.4 per cent).  

 
 

Nova Scotia's CPI excluding food and energy rose 1.7 per cent, above the national rate on a year over year basis. Prices in BC were down 0.2 per cent compared to a year earlier. CPI Excluding food and energy grew the most (+2.4%) in PEI on a year over year basis. 

The CPI growth for food (year over year) in Nova Scotia was -0.6 per cent, while it was up 2.3 per cent for energy (see the following two charts). 

 

 
 
 
Long Run Trends
 
The recent year over year trend in the All-Items Consumer Price Index for Nova Scotia shows changes at both the national and the provincial level moving in the same direction. 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 CPI outpacing that of the antional average. February 2014 CPI shows that food was down 0.6 percent year over year, so its removal would cause an observable uptick in the year over year trend for the province.    
 
 
 

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  
April 122.9 126.1 126.8  
May 123.2 125.6 126.4  
June 122.5 124.8 126.4  
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 122.7 125.1 126.6 127.9
  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%  
April 4.2% 2.6% 0.6%  
May 4.6% 1.9% 0.6%  
June 4.4% 1.9% 1.3%  
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  
April 113.9 115.8 116.9  
May 114.4 115.9 116.8  
June 113.5 115.4 116.5  
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 114.1 115.3 116.7 117.6
  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%  
April 1.6% 1.7% 0.9%  
May 2.2% 1.3% 0.8%  
June 1.6% 1.7% 1.0%  
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 February 2014 will be released April 17, 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