Consumer Price Index: Health (COICOP 06): Total for Canada
Quarterly
CANCP060000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.42
Year-over-Year Change
266.56%
Date Range
4/1/2015 - 7/1/2023
Summary
The Quarterly trend measures the Canadian Consumer Price Index (CPI), which tracks changes in the prices of consumer goods and services in Canada. This key economic indicator is closely watched by policymakers and analysts to gauge 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 Canadian CPI provides a comprehensive measure of the rate of inflation in Canada. It is used to adjust consumer incomes, government payments, and other economic indicators for the effects of inflation. The Quarterly CPI data is an essential tool for the Bank of Canada in setting monetary policy.
Methodology
The CPI is calculated based on the prices of a fixed basket of consumer goods and services collected monthly from retailers across Canada.
Historical Context
The Quarterly CPI is a critical input for the Bank of Canada's inflation targeting framework and helps guide its interest rate decisions.
Key Facts
- The CPI is calculated based on a fixed basket of over 600 consumer goods and services.
- Canada targets an inflation rate of 1-3% as part of its monetary policy framework.
- The Quarterly CPI is released about 6 weeks after the end of each quarter.
FAQs
Q: What does this economic trend measure?
A: The Quarterly trend measures the Canadian Consumer Price Index (CPI), which tracks changes in the prices of consumer goods and services in Canada.
Q: Why is this trend relevant for users or analysts?
A: The CPI is a key indicator of inflationary pressures in the Canadian economy and is closely watched by policymakers, economists, and market analysts.
Q: How is this data collected or calculated?
A: The CPI is calculated based on the prices of a fixed basket of consumer goods and services collected monthly from retailers across Canada.
Q: How is this trend used in economic policy?
A: The Quarterly CPI is a critical input for the Bank of Canada's inflation targeting framework and helps guide its interest rate decisions.
Q: Are there update delays or limitations?
A: The Quarterly CPI is released about 6 weeks after the end of each quarter.
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Citation
U.S. Federal Reserve, Quarterly (CANCP060000GPQ), retrieved from FRED.