Consumer Price Index: Alcoholic Beverages, Tobacco and Narcotics (COICOP 02): Total for Canada
Index source base, Quarterly
CANCP020000IXNBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
130.27
Year-over-Year Change
11.87%
Date Range
1/1/2015 - 7/1/2023
Summary
The Index source base, Quarterly measures the changes in the level of consumer prices in Canada on a quarterly basis. This economic indicator is closely watched by policymakers and analysts to gauge inflationary pressures and guide monetary policy decisions.
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 Index source base, Quarterly is a key measure of consumer price inflation in Canada. It tracks the changes in the cost of a representative basket of goods and services purchased by Canadian households, serving as a broad indicator of price changes across the economy.
Methodology
The data is collected through surveys of consumer expenditures and calculated using a chained Fisher Ideal index formula.
Historical Context
This inflation metric is a crucial input for the Bank of Canada's monetary policy decisions and is closely followed by financial markets.
Key Facts
- The base year for the Index source base, Quarterly is 2012.
- Inflation reached a high of 6.8% in 2022 due to supply chain disruptions and energy price volatility.
- The Bank of Canada aims to keep inflation within a 1-3% target range.
FAQs
Q: What does the Index source base, Quarterly measure?
A: The Index source base, Quarterly tracks changes in the overall price level of consumer goods and services in Canada on a quarterly basis.
Q: Why is this trend relevant for users or analysts?
A: This inflation metric is a key input for the Bank of Canada's monetary policy decisions and is closely watched by economists, investors, and policymakers to gauge price pressures in the Canadian economy.
Q: How is this data collected or calculated?
A: The data is collected through surveys of consumer expenditures and calculated using a chained Fisher Ideal index formula.
Q: How is this trend used in economic policy?
A: The Index source base, Quarterly is a crucial indicator used by the Bank of Canada to formulate and implement monetary policy, such as setting interest rates, to achieve its inflation target.
Q: Are there update delays or limitations?
A: The Index source base, Quarterly is published on a quarterly basis with a lag of approximately one month.
Related Trends
Infra-Annual Labor Statistics: Employment Rate Female: From 25 to 54 Years for Canada
LREM25FECAM156N
Infra-Annual Labor Statistics: Working-Age Population Female: From 25 to 54 Years for Canada
LFWA25FECAQ647N
Production: Industry: Total Industry Excluding Construction for Canada
PRINTO01CAA659S
Loans from Non-Resident Banks, Net, to GDP for Canada
DDOI08CAA156NWDB
Value of Exports to Canada from Washington
WACANA052SCEN
Nominal Gross Domestic Product for Canada
NGDPSAXDCCAQ
Citation
U.S. Federal Reserve, Index source base, Quarterly (CANCP020000IXNBQ), retrieved from FRED.