February 10, 2010 Consumer price index 2000 to present: includes CPI-trim, CPI-median, and CPI-common as well as other “core” inflation measures.
May 19, 2021 Understanding the consumer price index The consumer price index (CPI) tracks how much the average Canadian household spends, and how that changes over time. At the Bank of Canada, we use it to target inflation. Content Type(s): Explainers
August 16, 2012 Measurement Bias in the Canadian Consumer Price Index: An Update Bank of Canada Review - Summer 2012 Patrick Sabourin The consumer price index (CPI) is the most commonly used measure to track changes in the overall level of prices. Since it departs from a true cost-of-living index, the CPI is subject to four types of measurement bias—commodity substitution, outlet substitution, new goods and quality adjustment. The author updates previous Bank of Canada estimates of measurement bias in the Canadian CPI by examining these four sources of potential bias. He finds the total measurement bias over the 2005–11 period to be about 0.5 percentage point per year, consistent with the Bank’s earlier findings. Slightly more than half of this bias is caused by the fixed nature of the CPI basket of goods and services. Content Type(s): Publications, Bank of Canada Review articles JEL Code(s): E, E3, E31, E5, E52
March 23, 2010 Daily Digest Get quick access to data on exchange rates, money markets, inflation, interest rates and bond yields.
June 19, 2007 Change to the Official Time Base Reference Period for the Canadian Consumer Price Index: Implications for Government of Canada Real Return Bonds Today, along with the release of the consumer price index (CPI) for May 2007, Statistics Canada converted the official time base reference period for the CPI (the period for which the value 100 is assigned to the index) from 1992 to 2002 . This conversion was previously announced on 23 January 2007. Content Type(s): Press, Market notices
Channels of Transmission: How Mortgage Rates Affect House Prices and Rents in Canada Staff analytical paper 2026-2 Nishaad Rao, Tao Wang We use Canadian data to examine how monetary policy affects house prices and the consumer price index for rent through exogenous changes in the mortgage interest rates. It finds that the price and rent impacts operate through various channels and that these impacts vary by region. Content Type(s): Staff research, Staff analytical paper JEL Code(s): E, E3, E31, E5, E52, R, R2, R21 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Monetary policy framework and transmission
Accounting for Real Exchange Rates Using Micro‐Data Staff working paper 2017-12 Mario J. Crucini, Anthony Landry The classical dichotomy predicts that all of the time-series variance in the aggregate real exchange rate is accounted for by non-traded goods in the consumer price index (CPI) basket because traded goods obey the Law of One Price. In stark contrast, Engel (1999) claimed the opposite: that traded goods accounted for all of the variance. Content Type(s): Staff research, Staff working papers JEL Code(s): F, F3 Research Theme(s): Financial markets and funds management, International markets and currencies, Structural challenges, International trade, finance and competitiveness
What do high-frequency expenditure network data reveal about spending and inflation during COVID‑19? Staff analytical note 2020-20 Kim Huynh, Helen Lao, Patrick Sabourin, Angelika Welte The official consumer price index (CPI) inflation measure, based on a fixed basket set before the COVID 19 pandemic, may not fully reflect what consumers are currently experiencing. We partnered with Statistics Canada to construct a more representative index for the pandemic with weights based on real-time transaction and survey data. Content Type(s): Staff research, Staff analytical notes JEL Code(s): D, D1, D12, E, E3, E31, E4, E42, E5, E52 Research Theme(s): Monetary policy, Inflation dynamics and pressures, Money and payments, Payment and financial market infrastructures
May 12, 1998 Measurement biases in the Canadian CPI: An update Bank of Canada Review - Spring 1998 Allan Crawford The consumer price index (CPI) is used to measure changes in the price level of consumer goods and services. As an indicator of changes in the cost of living, it is susceptible to various types of measurement biases. This article provides estimates of the size of these biases in the Canadian CPI. It concludes that the rate of increase in the CPI probably overstates the rate of increase in the cost of living by about 0.5 percentage points per year. Content Type(s): Publications, Bank of Canada Review articles