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The Consumer Price Index (CPI) represents changes in prices as experienced by Canadian consumers. It measures price change by comparing, through time, the cost of a fixed basket of goods and services.
The goods and services in the CPI basket are divided into 8 major components: Food; Shelter; Household operations, furnishings and equipment; Clothing and footwear; Transportation; Health and personal care; Recreation, education and reading, and Alcoholic beverages, tobacco products and recreational cannabis. CPI data are published at various levels of geography including Canada, the ten provinces, Whitehorse, Yellowknife and Iqaluit, and select cities.
Features
Key indicators
Selected geographical area: Canada
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4.4%
(12-month change) -
151.26.8%
(annual change)
CPI News
Next release
The Consumer Price Index for May will be released on June 27.
CPI basket update in June 2023
The CPI is based on a fixed basket of goods and services designed according to international standards and methods. On June 20, 2023, updated basket weights for the goods and services used in the calculation of the CPI will be made available in table 18-10-0007-01. The new basket weight reference period will be 2022, based on the most recent household final consumption expenditure data and other alternative data. The methods and data sources used will be similar to the last basket update in June 2022.
One week later, on June 27, the May 2023 CPI will be released, based on the updated basket weights.
For general information on basket updates, consult The Canadian Consumer Price Index Reference Paper, chapter 8, "Weights and basket updates."
Homeowners' home and mortgage insurance and passenger vehicle insurance premiums
With the release of the May 2023 CPI, a new data source will be used for the calculation of the homeowners’ home and mortgage insurance and passenger vehicle insurance premium indexes. These indexes represent 1.37% and 1.99% of the 2021 CPI basket and are part of the shelter and transportation components, respectively. This change will incorporate more price quotes and a broader range of consumer profiles in the calculation of the insurance indexes.
Planned maintenance
The CPI Data Visualization Tool will be temporarily unavailable from June 20 to 27, 2023, due to planned maintenance related to the updated basket.
The Representative Products of the Consumer Price Index
Check out the list of The Representative Products of the Consumer Price Index! What do you want to see on this list? Fill out our feedback form to let us know.
Consumer Price Index fact check
Find answers to the most common questions about the Consumer Price Index (CPI), including how food prices are collected and how shelter costs are measured in the Consumer Price Index Fact Check: Measuring inflation during the COVID-19 pandemic and beyond.
Podcasts
Listen to the Eh Sayers Season 3 Episode 4 - In a Movie About the Economy, Is Inflation the Bad Guy?, to learn more about the economy.
Listen to the Eh Sayers Season 2 Episode 3 podcast, to learn more about supply chains.
Listen to the Eh Sayers Season 1 Bonus Episode podcast, to learn more about inflation.
Read our analysis
Personal Inflation Calculator
This Personal Inflation Calculator is an interactive tool that allows you to estimate your personal inflation rate based on your household expenses.
Consumer Price Index Data Visualization Tool
The Consumer Price Index Data Visualization Tool is an interactive dashboard that provides access to current and historical Consumer Price Index (CPI) data in a dynamic and customizable format.
An overview of Canada's Consumer Price Index (CPI)
The video "An overview of Canada's Consumer Price Index" provides an overview of the Consumer Price Index (CPI). It defines the CPI and looks at what it measures and how it is used.
The Consumer Price Index (CPI) and Your Experience of Price Change
The video "The Consumer Price Index (CPI) and Your Experience of Price Change" explains how and why the price change reported by the Consumer Price Index (CPI) may vary from the prices Canadians see on the shelves. It tells the story of Joe and Izzy, and how they each perceive price change as compared with the CPI.
Statistics Canada Training Institute – Consumer Price Index
The online lecture "Canada Training Institute – Consumer Price Index" provides an introduction to Statistics Canada's definition and production of the Consumer Price Index, which measures the rate at which prices of goods and services purchased by Canadian consumers change, on average, over a specified period of time.
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