Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Canada
CANCP020000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.59
Year-over-Year Change
6052.27%
Date Range
4/1/2015 - 7/1/2023
Summary
The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics in Canada measures the change in prices for these products over time. This metric is closely watched by economists and policymakers as it reflects consumer demand and inflationary pressures.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The CPI for Alcoholic Beverages, Tobacco and Narcotics is a component of the overall Canadian CPI, which is a key indicator of the country's economic health. This data series tracks price changes in a basket of goods and services that represent typical household expenditures.
Methodology
The data is collected through surveys of retailers and service providers across Canada.
Historical Context
The CPI is used by the Bank of Canada and other policymakers to guide monetary policy decisions.
Key Facts
- The CPI for Alcoholic Beverages, Tobacco and Narcotics is a component of the overall Canadian CPI.
- This metric is closely watched by economists and policymakers as it reflects consumer demand and inflationary pressures.
- The Bank of Canada uses the CPI data to guide monetary policy decisions.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Alcoholic Beverages, Tobacco and Narcotics in Canada measures the change in prices for these products over time.
Q: Why is this trend relevant for users or analysts?
A: This metric is closely watched by economists and policymakers as it reflects consumer demand and inflationary pressures, which are important factors in guiding economic and monetary policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of retailers and service providers across Canada.
Q: How is this trend used in economic policy?
A: The CPI is used by the Bank of Canada and other policymakers to guide monetary policy decisions.
Q: Are there update delays or limitations?
A: The CPI data is published on a regular schedule with minimal delays, providing timely information for economic analysis and policy decisions.
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Citation
U.S. Federal Reserve, Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Canada (CANCP020000GPQ), retrieved from FRED.