Consumer Price Index: Services Less Housing for Canada
CANCPISXHMINMEI • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
123.73
Year-over-Year Change
2.41%
Date Range
1/1/1961 - 5/1/2018
Summary
The Consumer Price Index: Services Less Housing for Canada measures the change in prices of services in Canada, excluding housing costs. This is a key indicator of inflation and the overall 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
This index tracks the prices of various services in Canada, such as transportation, healthcare, and entertainment, but excludes housing-related costs like rent and utilities. It provides a more targeted view of inflation in the services sector, which is an important component of the Canadian economy.
Methodology
The data is collected through surveys of Canadian consumers and businesses, and the index is calculated using a fixed-basket approach.
Historical Context
Policymakers and analysts use this index to monitor inflationary pressures and make informed decisions about monetary policy and economic management.
Key Facts
- The index is published monthly by the U.S. Federal Reserve.
- Services account for over 60% of Canada's GDP.
- The index has shown moderate inflation in the Canadian services sector in recent years.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Services Less Housing for Canada measures the change in prices of services in Canada, excluding housing costs.
Q: Why is this trend relevant for users or analysts?
A: This index provides a targeted view of inflation in the services sector, which is an important component of the Canadian economy. It helps policymakers and analysts monitor inflationary pressures.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Canadian consumers and businesses, and the index is calculated using a fixed-basket approach.
Q: How is this trend used in economic policy?
A: Policymakers and analysts use this index to monitor inflationary pressures and make informed decisions about monetary policy and economic management.
Q: Are there update delays or limitations?
A: The index is published monthly by the U.S. Federal Reserve, with a short delay.
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Citation
U.S. Federal Reserve, Consumer Price Index: Services Less Housing for Canada (CANCPISXHMINMEI), retrieved from FRED.