Consumer Price Index for Canada
DDOE02CAA086NWDB • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
111.99
Year-over-Year Change
21.92%
Date Range
1/1/1960 - 1/1/2017
Summary
The Consumer Price Index (CPI) for Canada is a key economic indicator that measures the changes in the prices paid by Canadian consumers for a basket of goods and services. It is a critical measure of inflation and a key input for policymakers at the Bank of Canada.
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 tracks the weighted average change in prices for a representative basket of consumer goods and services. It is used to assess the purchasing power of the Canadian dollar and to inform monetary policy decisions by the Bank of Canada.
Methodology
The CPI is calculated monthly by Statistics Canada based on prices collected from retail stores, service providers, and other sources.
Historical Context
The Canadian CPI is closely watched by economists, investors, and policymakers as a barometer of inflationary pressures in the Canadian economy.
Key Facts
- The CPI basket contains over 600 goods and services.
- The base year for the Canadian CPI is 2002.
- The Bank of Canada targets an inflation rate of 1-3% as part of its monetary policy mandate.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Canada measures the changes in the prices paid by Canadian consumers for a basket of common goods and services.
Q: Why is this trend relevant for users or analysts?
A: The Canadian CPI is a critical indicator of inflation and a key input for the Bank of Canada's monetary policy decisions, making it highly relevant for economists, investors, and policymakers.
Q: How is this data collected or calculated?
A: The CPI is calculated monthly by Statistics Canada based on prices collected from retail stores, service providers, and other sources.
Q: How is this trend used in economic policy?
A: The Canadian CPI is closely watched by the Bank of Canada, which targets an inflation rate of 1-3% as part of its monetary policy mandate to maintain price stability.
Q: Are there update delays or limitations?
A: The Canadian CPI data is published monthly by Statistics Canada with a typical release lag of about two weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index for Canada (DDOE02CAA086NWDB), retrieved from FRED.