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.
The Consumer Price Index for January will be released on February 17.
COVID-19 and the Consumer Price Index
Statistics Canada continues to monitor the impacts of the novel coronavirus (also known as COVID-19) on Canada's Consumer Price Index (CPI).
A document entitled "Technical Supplement for the December 2020 Consumer Price Index" is available in the Prices Analytical Series (62F0014M) publication, with details on the imputations used to compile the December 2020 CPI.
Check out the 2020 annual review infographic
Today, Statistics Canada released the infographic Consumer Price Index: 2020 in Review, highlighting the annual average consumer inflation in Canada and the regions in 2020 while also examining the noteworthy average commodity movements of the year amid the COVID-19 pandemic.
Upcoming change: New approach to estimating the Computer Equipment, Software and Supplies Index
With the release of January 2021 CPI data on February 17, 2021, the computer equipment, software and supplies index will be updated with an enhanced methodology and new data sources. This index represents 0.42% of the 2017 CPI basket and is part of the recreation, education and reading component.
Detailed documentation describing the new computer equipment, software and supplies index approach will be available with the January 2021 CPI release on February 17, 2021.
Upcoming change: Resale housing data to be incorporated into the Mortgage Interest Cost Index
Following the release of the Residential Property Price Index, the CPI is incorporating resale house prices into the house sub-index of the Mortgage Interest Cost Index (MICI). This enhancement will be released with the February 2021 CPI (to be published on March 17, 2021), and does not represent a change in methodology. More information on this enhancement will be included with the release of the February 2021 CPI.
The MICI represents 3.57% of the 2017 CPI basket and is part of the Shelter component of the CPI. More information on the MICI model can be found in Chapter 10 of The Canadian Consumer Price Index Reference Paper.
New data tables reflecting consumption patterns during the pandemic
Using various sources of expenditure data, Statistics Canada, in partnership with the Bank of Canada, calculated adjusted consumer expenditure basket weights and an adjusted price index reflecting shifts in consumption patterns during the COVID-19 pandemic.
Explore these data in the new tables, Monthly adjusted price index, provisional and Monthly adjusted consumer expenditure basket weights.
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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