What is a basket of goods & services (CPI)?

This is the content of the basket of goods and services that the government (Statistics Canada) uses to generate the Consumer Price Index (CPI) and inflation rates. Next to each item you will see the weight (out of 100) assigned to it based on the average Canadian’s spending.

What is the Canadian Consumer Price Index (CPI)?

In Canada, Statistics Canada is in charge of maintaining this basket, which it updates every 4 years. The weight assigned to each element in the basket (out of 100) is based on the average spending of all Canadians combined. The Consumer Price Index (CPI) is different from the Cost of Living index.

Why does Statistics Canada calibrate the basket weights for the CPI?

Statistics Canada regularly calibrates the basket weights for the Consumer Price Index (CPI) in order to ensure the CPI remains relevant to the changing consumption and expenditure patterns of Canadians. Today’s basket weight update will ensure the relevance of the CPI as a reflection of the most recent consumer expenditure data available.

What is 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.