Inflation, consumer prices for Canada
FPCPITOTLZGCAN • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
2.38
Year-over-Year Change
57.13%
Date Range
1/1/1960 - 1/1/2024
Summary
The 'Inflation, consumer prices for Canada' metric tracks changes in the overall price level of consumer goods and services in Canada. It is a key indicator of domestic economic conditions and the effectiveness of monetary policy.
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 Consumer Price Index (CPI) for Canada is a widely-used measure of inflation, representing the average change in prices paid by Canadian consumers for a basket of consumer goods and services. It is closely monitored by the Bank of Canada and informs its decisions on interest rates and other policy actions.
Methodology
The Canadian CPI is calculated monthly by Statistics Canada based on prices collected from households across the country.
Historical Context
The Canadian CPI is a critical input for economic analysis, as it helps assess the purchasing power of the Canadian dollar and the overall cost of living.
Key Facts
- Canada's CPI reached a 30-year high of 6.9% in 2022.
- The Bank of Canada aims to keep inflation within a 1-3% target range.
- Housing and transportation are the largest components of the Canadian CPI basket.
FAQs
Q: What does this economic trend measure?
A: The 'Inflation, consumer prices for Canada' metric measures the average change in prices paid by Canadian consumers for a basket of goods and services.
Q: Why is this trend relevant for users or analysts?
A: The Canadian CPI is a critical indicator of domestic economic conditions and the effectiveness of monetary policy, helping assess the purchasing power of the Canadian dollar and the overall cost of living.
Q: How is this data collected or calculated?
A: The Canadian CPI is calculated monthly by Statistics Canada based on prices collected from households across the country.
Q: How is this trend used in economic policy?
A: The Canadian CPI is closely monitored by the Bank of Canada and informs its decisions on interest rates and other policy actions to maintain price stability and support economic growth.
Q: Are there update delays or limitations?
A: The Canadian CPI data is published monthly with a typical one-month lag, providing timely information on inflationary pressures.
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Hourly Earnings: Earnings: Economic Activity: Manufacturing: Total Economy for Canada
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Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Services Less Housing for Canada
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Citation
U.S. Federal Reserve, Inflation, consumer prices for Canada (FPCPITOTLZGCAN), retrieved from FRED.