Table 4
Consumer Price Index statistics (CPI), measures of core inflation – Bank of Canada definitions, Canada1,2
| August 2023 |
September 2023 |
October 2023 |
November 2023 |
December 2023 |
January 2024 |
|
|---|---|---|---|---|---|---|
| year-over-year % change | year-over-year % change | year-over-year % change | year-over-year % change | year-over-year % change | year-over-year % change | |
| CPI-common3,5 | 4.8 | 4.4 | 4.2 | 3.9 | 3.9 | 3.4 |
| CPI-median4,6 | 4.0 | 3.7 | 3.5 | 3.5 | 3.5 | 3.3 |
| CPI-trim4,7 | 3.9 | 3.6 | 3.5 | 3.5 | 3.7 | 3.4 |
| index (January 1989=100) | index (January 1989=100) | index (January 1989=100) | index (January 1989=100) | index (January 1989=100) | index (January 1989=100) | |
| CPI-median4,6 | 207.9 | 208.4 | 208.8 | 209.4 | 210.2 | 210.5 |
| CPI-trim4,7 | 204.6 | 205.0 | 205.5 | 206.1 | 206.9 | 207.1 |
Source(s):
Table 18-10-0256-01.
Table note 1
For more information on these measures of core inflation, please consult the methodology and general information documents found in the "Definitions, data sources and methods" section of survey 2301.
Table note 2
The Bank of Canada's measures of core inflation, CPI-common, CPI-median and CPI-trim are subject to revision. In the case of CPI-median and CPI-trim, this results from the fact that these measures are based on seasonally adjusted price index series. In the case of CPI-common, revisions are due to the statistical technique used, as the factor model is estimated over all available historical data. Table 18-10-0259-01 contains the historical release data for these three measures and will be updated every month.
Table note 3
This measure is based on the CPI series adjusted to remove the effect of changes in indirect taxes.
Table note 4
This measure is based on CPI series that have been treated to remove the effect of changes in indirect taxes and that have been seasonally adjusted.
Table note 5
CPI-common is a measure of core inflation that tracks common price changes across categories in the CPI basket.
Table note 6
CPI-median is a measure of core inflation corresponding to the price change located at the 50th percentile (in terms of CPI basket weights) of the distribution of price changes in a given month.
Table note 7
CPI-trim is a measure of core inflation that excludes CPI components whose rates of change in a given month are located in the tails of the distribution of price changes.
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