Consumer Price Index: Clothing and Footwear (COICOP 03): Total for Canada
Quarterly
CANCP030000IXNBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
103.93
Year-over-Year Change
2.22%
Date Range
1/1/2015 - 7/1/2023
Summary
The Quarterly trend measures changes in Canada's consumer prices on a quarterly basis. This broad indicator of inflation is crucial for policymakers and economists to assess the health of the Canadian economy.
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 Quarterly trend tracks the quarterly percentage change in Canada's consumer price index (CPI), a widely followed measure of inflation. It provides a comprehensive view of price movements across a broad basket of consumer goods and services in Canada, making it an important economic indicator.
Methodology
The data is collected and calculated by Statistics Canada through surveys of consumer expenditures and prices.
Historical Context
Policymakers at the Bank of Canada monitor this trend closely to inform monetary policy decisions aimed at maintaining price stability.
Key Facts
- The Quarterly trend has averaged 0.5% over the past 10 years.
- Quarterly inflation reached a high of 3.7% in 2022.
- The Bank of Canada aims to keep inflation within a 1-3% target range.
FAQs
Q: What does this economic trend measure?
A: The Quarterly trend measures the quarterly percentage change in Canada's consumer price index (CPI), a key indicator of inflation.
Q: Why is this trend relevant for users or analysts?
A: This trend is crucial for policymakers, economists, and market participants to assess the overall price pressures in the Canadian economy and inform economic decision-making.
Q: How is this data collected or calculated?
A: The data is collected and calculated by Statistics Canada through surveys of consumer expenditures and prices.
Q: How is this trend used in economic policy?
A: The Bank of Canada closely monitors the Quarterly trend to guide its monetary policy decisions aimed at maintaining price stability and supporting economic growth.
Q: Are there update delays or limitations?
A: The Quarterly trend data is typically released with a lag of about one month by Statistics Canada.
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Citation
U.S. Federal Reserve, Quarterly (CANCP030000IXNBQ), retrieved from FRED.