![]() Prices for food purchased from stores rose 9.8% in 2022, the fastest pace since 1981 (+12.0%), after increasing 2.2% in 2021. Prices for groceries rise at the fastest pace since 1981 Atlantic Canadians were most impacted by this increase, as fuel oil is more commonly used for heating homes in Atlantic Canada. Prices for fuel oil and other fuels rose 59.6% on an annual average basis, following a 24.4% gain in 2021. Crude oil prices rose as a result of supply uncertainty amid Russia's invasion of Ukraine and higher demand in response to the easing of COVID -19 restrictions, pushing prices at the pump higher. Higher energy prices (+22.5%) contributed to the annual average headline inflation in 2022.Ĭonsumers paid 28.5% more for gasoline on an annual average basis. ![]() Higher energy prices contribute the most to headline inflation Users should consider the impact of base-year effects when interpreting the 12-month price movements in 2023. For more information on the base-year effect, see the publication Consumer Price Index Fact Check: Measuring inflation during the COVID -19 pandemic and beyond. The broad increase in prices, led by prices for energy products, in the first half of 2022 will have a downward impact on the year-over-year rate of consumer inflation through the first half of 2023 because higher prices from 2022 will be used as the basis for year-over-year comparisons. In the coming months, the relatively large month-over-month price movements that were observed from January 2022 to June 2022 will stop influencing the 12-month price movements in 2023. Year-over-year price growth accelerated each month in the first half of the year, reaching a high of 8.1% in June, and slowed in the second half of the year.īase-year effects and the Consumer Price Index in 2023 Prices for services increased 5.0% in 2022, led by homeowners' replacement cost (+9.5%) and other owned accommodation expenses (+10.0%). Prices for goods were up 8.7% on an annual average basis in 2022, led by higher prices for non-durable goods such as food purchased from stores (+9.8%) and gasoline (+28.5%). Canadians felt the impact of inflation, as prices for day-to-day basics such as transportation (+10.6%), food (+8.9%) and shelter (+6.9%) rose the most.īoth goods and services prices rose at a faster pace compared with a year earlier. Price increases were broad-based in 2022, with prices up on an annual average basis in all eight major components. Excluding energy, the annual average CPI rose 5.7% in 2022 compared with 2.4% in 2021. The Consumer Price Index ( CPI) rose 6.8% on an annual average basis in 2022, following gains of 3.4% in 2021 and of 0.7% in 2020.
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