novascotia.ca - Nova Scotia Canada - Government of Nova Scotia

For additional information relating to this article, please contact:

Thomas Storring	Director – Economics and Statistics
Tel: 902-424-2410	Email: Thomas.Storring@novascotia.ca

September 19, 2014
ANALYSIS OF NOVA SCOTIA'S CONSUMER PRICE INDEX FOR AUGUST 2014

At 1.9 per cent year over year, Nova Scotia's consumer price index was below the national average of 2.1 per cent from August 2013 to August 2014. Within Atlantic Canada, Newfoundland and Labrador posted the highest year over year CPI increase (+2.5%). New Brunswick's CPI increased 1.5 per cent and PEI posted an increase of 1.2 per cent. West of Atlantic Canada, the highest inflation year over year was in Saskatchewan at 2.7 per cent.

This month's 1.9 per cent year over year increase in the Consumer Price Index is in line with the year to date average for Nova Scotia (1.9%).




Nova Scotia's CPI excluding food and energy rose 2.0 per cent, the same as the national rate on a year over year basis. Price level gains in British Columbia were up 1.1 per cent compared to a year earlier. CPI Excluding food and energy grew the most (+2.7%) in Alberta on a year over year basis.



Main contributors to monthly (August 2014 vs. July 2014) NS CPI movement:

-Children's clothing (+8.3%)

-Footwear (+4.1%)

-Men's clothing (-3.9%)

-Fresh Vegetables (-10.7%)

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

-Footwear (+13.0%)

-Fuel oil and other fuels (+10.9%)

-Fresh vegetables (-6.8%)

-Home entertainment equipment, parts and services (-7.1%)

The CPI growth for food (year over year) in Nova Scotia was 1.5 per cent, while it was up 2.5 per cent for energy (see the following two charts).





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 not differing greatly (National staying at 2.1% again this month, and Nova Scotia moving from 2.0% last month to 1.9% 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 Canada's and Nova Scotia's CPI annual rate rising to 2.0% in August.




More information is available in the Economic Analysis and Reports section of the Department of Finance website.