Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Canada
CANCP030000GPM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.67
Year-over-Year Change
N/A%
Date Range
1/1/2015 - 11/1/2023
Summary
The Consumer Price Index for Clothing and Footwear in Canada measures the change in prices for a basket of clothing and footwear goods and services. It is a key indicator of inflationary pressures in the Canadian retail sector.
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 Clothing and Footwear CPI is a subcomponent of the overall Canadian Consumer Price Index, which tracks the cost of a representative basket of consumer goods and services. It is used by policymakers, analysts, and the public to assess trends in consumer spending and the affordability of essential items.
Methodology
The data is collected through surveys of Canadian retailers and households.
Historical Context
The Clothing and Footwear CPI is monitored by the Bank of Canada and other institutions to inform monetary policy decisions.
Key Facts
- The CPI for Clothing and Footwear uses 2002 as its base year.
- Clothing and Footwear account for approximately 5% of the Canadian CPI basket.
- Prices for this category have risen at a slower rate than the overall CPI in recent years.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Clothing and Footwear in Canada measures the change in prices for a basket of clothing and footwear goods and services.
Q: Why is this trend relevant for users or analysts?
A: The Clothing and Footwear CPI is a key indicator of inflationary pressures in the Canadian retail sector and is used by policymakers, analysts, and the public to assess trends in consumer spending and the affordability of essential items.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Canadian retailers and households.
Q: How is this trend used in economic policy?
A: The Clothing and Footwear CPI is monitored by the Bank of Canada and other institutions to inform monetary policy decisions.
Q: Are there update delays or limitations?
A: The data is released on a monthly basis with a short publication delay.
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Citation
U.S. Federal Reserve, Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Canada (CANCP030000GPM), retrieved from FRED.