What is Canada's Consumer Price Index (CPI)?

Check out An Overview of Canada's Consumer Price Index, a video from Statistics Canada that defines the CPI, what it measures and how it’s used. CPI inflation is measured by comparing the price of the CPI basket today with its price (or “base”) a year ago.

Why is the CPI important?

The CPI is widely used as an indicator of the change in the general level of consumer prices or the rate of inflation. Since the purchasing power of money is affected by changes in prices, the CPI is useful to virtually all Canadians. The prices of certain CPI components can be particularly volatile.

How does Bank of Canada measure inflation?

Browse Bank of Canada articles, research papers and publications on inflation. QE is a tool that encourages spending and investment—helping us to achieve our inflation target by stabilizing the economy. The consumer price index (CPI) tracks how much the average Canadian household spends, and how that changes over time.

Where are CPI data published?

CPI data are published at various levels of geography including Canada, the ten provinces, Whitehorse, Yellowknife and Iqaluit. The Consumer Price Index is one of the most widely used measures of inflation.