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Higher food and gas prices
- The June increase was heavily influenced by higher food and gas prices. Food prices increased 1% from May and 10.4% over the previous 12 months, while the cost of gasoline increased 11.2% from May and energy prices rose 60% over the past 12 months. Excluding food and gas prices, inflation increased 0.7% on the month and 5.9% for the year.
www.nbcnews.com/business/economy/us-inflation-june-2022-consumer-price-index-rcna37897U.S. inflation rises 9.1% in June, more than expected, as ...
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After peaking at 9.1% in June 2022, the United States inflation rate declined steadily into 2023, representing overall disinflation. Analysis conducted by NerdWallet on October 2023 data found that prices for 92 of the 338 goods and services measured in CPI had declined from one year earlier, representing deflation for those items. [ 162 ]
- Markups Increased More Slowly Than Inflation
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In contrast to the two previous articles that focused on specific cost drivers, the study "Markups and inflation: Evidence from firm-level data" examines the extent to which markups may have contributed to inflation. Markups are measured as the ratio of price over marginal costs (the incremental costs of producing an additional unit of output, incl...
The articles titled "Import prices and inflation in Canada", "Markups and inflation: Evidence from firm-level data" and "Inflationary pressures, wages and profits" are now available in the June 2023 online issue of Economic and Social Reports, Vol. 3, no. 6 (Catalogue number36280001).
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).
Feb 27, 2023 · By mid-2022, consumer inflation had accelerated to its fastest pace in four decades, peaking at 8.1% in June. The headline inflation rate eased in late 2022 as gasoline prices fell. However, key sources of inflationary pressure such as food and shelter show little signs of moderating.
Jul 20, 2022 · The annual rate of inflation in Canada hit 8.1 per cent in June as prices on gasoline surged, Statistics Canada reported on Wednesday. And economists are starting to wonder whether price...
Canadian consumers were confronted with higher prices in 2021, including for everyday necessities, such as food (+2.5%), transportation (+7.2%) and shelter (+3.9%). The most recent monthly data shows a 12-month increase of 7% in August 2022, following a 7.6% increase in July.
Jul 20, 2022 · The rate of consumer inflation continued to rise, reaching 8.1% year over year in June, following a 7.7% gain in May. The increase was the largest yearly change since January 1983. The acceleration in June was mainly due to higher prices for gasoline, however, price increases remained broad-based with seven of eight major components rising by 3 ...
Jul 18, 2022 · Over the 12 months ended June 2022, the Consumer Price Index for All Urban Consumers increased 9.1 percent. The 9.1-percent increase in the all items index was the largest 12-month increase since the 12-month period ending November 1981.
