Finance

Economic and Project Analysis

Posted: November 2018
Consumer Price Index Commentary, First Three Quarters of 2018
Next due: early 2019

Consumer Inflation Averaged 1.8% in First Three Quarters of 2018

According to the Consumer Price Index (CPI) released by Statistics Canada, consumers in Newfoundland and Labrador paid 1.8% more for goods and services in the first three quarters of 2018 compared to the same period in 2017.

Energy prices increased during this period by 7.3%, rising across all major sources: Fuel oil and other fuels up 21.7% and Gasoline up 3.4%, both affected by higher crude oil prices; and Electricity up 7.4%. Overall consumer prices were 1.1% higher when excluding the Energy category.

All major categories recorded price increases during the first three quarters of 2018. The highest increases occurred in Transportation, Alcohol and Tobacco, and Shelter, each between 3% and 4%.

Nationally, inflation averaged 2.4% in the first three quarters of 2018.

The Department of Finance's October 2018 forecast predicts inflation in Newfoundland and Labrador to average 2.1% in 2018.

Year-Over-Year Change in CPI
Jan-Sep 2018 vs. Jan-Sep 2017

Consumer Price Index Chart, Year-to-date

Statistical Reference: For the latest in consumer price index statistics visit the Newfoundland & Labrador Statistics Agency site and check the release dates on the Statistics Canada site.


 
Economic and Project Analysis Division, Department of Finance - (709) 729-3255 - infoera@gov.nl.ca

 
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