Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Canada
Growth rate previous period, Quarterly
CANCP110000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.56
Year-over-Year Change
169.05%
Date Range
4/1/2015 - 7/1/2023
Summary
The growth rate previous period, Quarterly trend measures the quarter-over-quarter percent change in Canada's consumer prices. This key economic indicator provides insights into the pace of inflation and consumer demand.
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
This quarterly growth rate trend tracks changes in the Consumer Price Index (CPI), which measures the average change in prices paid by consumers for a basket of goods and services. The CPI is a widely-used benchmark for assessing Canada's overall inflation and is closely monitored by policymakers.
Methodology
The data is collected through monthly consumer price surveys conducted by Statistics Canada.
Historical Context
The quarterly growth rate in consumer prices is a vital input for the Bank of Canada's monetary policy decisions.
Key Facts
- Canada's CPI grew 0.1% in the fourth quarter of 2022.
- The quarterly CPI growth rate peaked at 1.4% in the second quarter of 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 growth rate previous period, Quarterly trend measures the quarter-over-quarter percent change in Canada's Consumer Price Index (CPI), which tracks the average change in prices paid by consumers.
Q: Why is this trend relevant for users or analysts?
A: The CPI growth rate is a key indicator of inflation and consumer demand, making it essential for policymakers, economists, and market analysts to monitor.
Q: How is this data collected or calculated?
A: The data is collected through monthly consumer price surveys conducted by Statistics Canada.
Q: How is this trend used in economic policy?
A: The quarterly CPI growth rate is a vital input for the Bank of Canada's monetary policy decisions, as the central bank aims to keep inflation within its target range.
Q: Are there update delays or limitations?
A: The CPI data is released on a monthly basis, with the quarterly growth rate published shortly after the end of each quarter.
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Citation
U.S. Federal Reserve, Growth rate previous period, Quarterly (CANCP110000GPQ), retrieved from FRED.