May Inflation Identical to April's: StatsCan

Inflation last month proved a carbon copy of the month before, according to figures released Friday morning by Statistics Canada

The agency's Consumer Price Index (CPI) rose 2.2% on a year-over-year basis in May, matching the increase in April.

StatsCan said all eight major components increased on a year-over-year basis in May, although five of the eight major components grew at a slower rate.

Other figures of note: energy prices rose 11.6% year over year in May, following a 6.3% increase in April. This growth was led by the gasoline index, which rose 22.9% in the 12 months to May.

The electricity index, which lost 0.8%, posted a smaller decline on a year-over-year basis in May than in the previous month. Prices for fuel oil and other fuels were up 22.2% in the 12 months ending in May.

The all-items excluding energy index increased 1.6% on a year-over-year basis in May after a 1.9% increase in April.