Consumer price inflation up in December
Consumer prices in Ontario climbed 3.3% in the 12 months to December 2010. Gasoline prices increased 16%, while electricity prices, passenger vehicle insurance premiums and homeowners' replacement costs also increased markedly. Excluding gasoline, Ontario's Consumer Price Index (CPI) increased 2.8% in the previous 12 months.
On a seasonally adjusted monthly basis, Ontario's CPI increased 0.4% from November to December. Gasoline prices alone climbed 1.8% in December. Excluding gasoline, the province's CPI increased 0.2% from November to December.
CPI inflation averaged 2.4% in Ontario in 2010, up from 0.4% in 2009 and above the average annual increase of 2.1% so far this century. It is expected that Ontario's CPI will rise at a moderate rate of from 1.6% to 1.9% per annum through 2013. More substantial price inflation is expected to continue for gasoline.
(Source: Central 1 Credit Union)
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