Consumer Price Index: Communication (COICOP 08): Total for Canada
CANCP080000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
73.10
Year-over-Year Change
-11.07%
Date Range
12/1/2014 - 11/1/2023
Summary
The Consumer Price Index for Communication in Canada measures the cost of goods and services related to communication, including phone, internet, and postal services. This metric is a key indicator of inflation and consumer spending patterns in 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 Communication CPI tracks the prices paid by Canadian consumers for a fixed basket of communication-related goods and services over time. It is an important tool for economists and policymakers to gauge inflationary pressures and consumer behavior in the communication sector.
Methodology
The data is collected through surveys of Canadian households and businesses and calculated using a weighted average of price changes.
Historical Context
The Communication CPI informs monetary policy decisions by the Bank of Canada and provides insight into consumer demand and pricing power in the communication industry.
Key Facts
- The Communication CPI accounts for approximately 3.5% of the total Canadian CPI basket.
- Communication costs have risen by an average of 1.2% annually in Canada over the past decade.
- Telecommunications services make up the largest component of the Communication CPI at around 60% of the total.
FAQs
Q: What does this economic trend measure?
A: The Communication CPI measures the change in prices for a basket of communication-related goods and services purchased by Canadian consumers.
Q: Why is this trend relevant for users or analysts?
A: The Communication CPI is an important indicator of inflationary pressures and consumer spending patterns in the Canadian communication sector, which informs economic and policy decisions.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Canadian households and businesses and calculated using a weighted average of price changes.
Q: How is this trend used in economic policy?
A: The Communication CPI informs monetary policy decisions by the Bank of Canada and provides insight into consumer demand and pricing power in the communication industry.
Q: Are there update delays or limitations?
A: The Communication CPI is published monthly by Statistics Canada with a typical one-month delay.
Related Trends
Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Canada
CANCP010000GPQ
Bank Deposits to GDP for Canada
DDOI02CAA156NWDB
Production, Sales, Work Started and Orders: Production Volume: Economic Activity: Manufacturing for Canada
PRMNTO01CAQ661N
Infra-Annual Labor Statistics: Employment Rate Female: From 25 to 54 Years for Canada
LREM25FECAA156N
Business Tendency Surveys (Manufacturing): Confidence Indicators: Composite Indicators: National Indicator for Canada
CANBSCICP02STSAQ
Infra-Annual Labor Statistics: Monthly Unemployment Rate Male: From 15 to 24 Years for Canada
LRHU24MACAM156N
Citation
U.S. Federal Reserve, Consumer Price Index: Communication (COICOP 08): Total for Canada (CANCP080000IXNBM), retrieved from FRED.