Giuseppe Sandro Mela.
«The Consumer Price Index (CPI) rose 3.6% on a year-over-year basis in May»
«the increase in year-over-year price growth in May was led by rising prices for shelter and passenger vehicles»
«prices …. remained below pre-pandemic levels»
«Shelter prices rose 4.2% year over year in May»
«Prices for durable goods rose 4.4% year over year»
«Year over year, prices for gasoline rose at a slower pace in May (+43.4%) than in April (+62.5%)»
«On a monthly basis, gasoline prices were up 3.2% compared with April 2021»
«Year over year, the homeowners’ replacement cost index rose 11.3%»
«Furniture prices (+9.8%) posted their fastest growth rate since 1982»
«prices for fresh or frozen chicken rose 5.0% compared with May 2020»
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Come in tutto l’enclave liberal occidentale, i costi al consumo sono saliti significativamente soprattutto a causa dei rincari dei carburanti, +43.4% anno su anno.
Carburanti che sono gravati da una severa tassazione.
Si noti come i prezzi al consumo si siano innalzati a seguito dei rincari dei costi di produzione, connotando in questa maniera una inflazione strutturale e, quindi, duratura.
Statistics Canada ha rilasciato il Report Consumer Price Index, May 2021.
The Consumer Price Index (CPI) rose 3.6% on a year-over-year basis in May, up from a 3.4% gain in April. This was the largest yearly increase since May 2011. Excluding gasoline, the CPI rose 2.5% year over year.
Although base-year effects continue to impact the 12-month price movement for some specific consumer goods, such as gasoline, furniture and beef products, the increase in year-over-year price growth in May was led by rising prices for shelter and passenger vehicles. Unlike March and April 2021, when most of the year-over-year gains in the CPI were characterized by the large upward base-year effects caused by price declines falling out of the 12-month movement, base-year effects affected the 12-month price movement for only a few key goods and services in May 2021. While prices began to recover in May 2020 from the initial pandemic-related declines, they remained below pre-pandemic levels. In May 2021, these lower prices were the basis for the year-over-year comparison, contributing to the 3.6% year-over-year increase in the CPI.
The monthly CPI rose 0.5% in May 2021, the same growth rate as in April. On a seasonally adjusted monthly basis, the CPI rose 0.4% in May.
Prices rose in every major component on a year-over-year basis. Shelter prices rose 4.2% year over year in May, the largest yearly increase since September 2008. Prices for durable goods rose 4.4% year over year, the fastest pace since 1989, against the backdrop of rising consumer confidence and low interest rates.
Gasoline prices rise at a slower pace in May
Year over year, prices for gasoline rose at a slower pace in May (+43.4%) than in April (+62.5%). Higher prices in May 2020, when gasoline prices began to recover from the initial impacts of the COVID-19 pandemic, were used as the basis for the year-over-year comparison, contributing to the slowdown in year-over-year growth. In May 2020, gasoline prices rose 16.9% month over month, recovering from March (-17.8%) and April (-15.2%), when both supply- and demand-related factors contributed to significantly lower prices at the gas pumps.
On a monthly basis, gasoline prices were up 3.2% compared with April 2021. Much of this gain was driven by supply disruptions to pipelines in the United States and the maintenance of production cuts by international oil producers.
Homeowners’ replacement cost index rises at fastest pace since 1987
Year over year, the homeowners’ replacement cost index rose 11.3%, the largest yearly increase since 1987. Prices have risen year over year for 16 consecutive months, as prices for new homes continue to be influenced by shifting consumer preferences and higher construction costs.
Consumers pay more for durable goods, led by higher prices for passenger vehicles
Prices for passenger vehicles led the increase in prices for durable goods, rising 5.0% year over year in May, the largest yearly gain in the purchase of passenger vehicles index since September 2016. The increase was partly the result of supply chain issues related to a global shortage of semiconductor chips.
Furniture prices (+9.8%) posted their fastest growth rate since 1982, with prices for upholstered furniture (+10.3%) contributing the most to the increase. The gain in furniture prices was mainly driven by a base-year effect. In May a year earlier, when retail stores were temporarily closed as in-person shopping was suspended, prices fell because of large discounts. While the furniture price index grew at a faster pace primarily as a result of a base-year effect, higher costs of inputs such as lumber also contributed.
Meat prices increase at a slower pace in May
Year over year, prices for meat products rose at a slower pace in May (+1.1%) than in April (+2.1%), driven by beef prices. Prices for fresh or frozen beef fell 4.3% on a year-over-year basis, mainly the result of a base-year effect. Higher prices in May 2020, when supply was disrupted by plant closures and capacity reductions related to COVID-19, had a downward impact on the fresh or frozen beef price index in May 2021.
In contrast, prices for fresh or frozen chicken rose 5.0% compared with May 2020, partly contributing to the yearly increase in meat prices.
Year over year, prices rose more in May than in April in seven provinces. Year-over-year price growth was strong in the Atlantic provinces, as prices for fuel oil and rent increased.
Traveller accommodation prices increase month over month
Month over month, traveller accommodation prices rose 6.7% in May, up from a 1.5% increase in April—the largest increase recorded since the onset of the pandemic. While prices for traveller accommodation rose on a monthly basis in most provinces, the largest increase was observed in British Columbia (+13.0%), largely driven by increased tourism within designated regional travel zones.