Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Canada
CANCP010000GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.22
Year-over-Year Change
-123.77%
Date Range
4/1/1961 - 7/1/2023
Summary
The Consumer Price Index (CPI) for Food and Non-Alcoholic Beverages in Canada measures the change in prices paid by consumers for this category of goods and services. This metric is a key indicator of inflationary pressures in the Canadian economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
The CPI for Food and Non-Alcoholic Beverages is a subcomponent of the overall Canadian CPI, which tracks the average change in prices paid by consumers for a basket of goods and services. This more granular food and beverage index is closely monitored by economists and policymakers to assess the cost-of-living and inflationary trends.
Methodology
The data is collected through a survey of retail prices by Statistics Canada.
Historical Context
The CPI for Food and Non-Alcoholic Beverages is a crucial input for the Bank of Canada's monetary policy decisions.
Key Facts
- The index has a base year of 2002 = 100.
- Food accounts for about 16% of the total Canadian CPI basket.
- Prices for this category rose 6.8% year-over-year as of the latest data.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index for Food and Non-Alcoholic Beverages in Canada measures the average change in prices paid by consumers for food and drink items, excluding alcoholic beverages.
Q: Why is this trend relevant for users or analysts?
A: This index is a key indicator of inflationary pressures and the cost-of-living for Canadian households, making it highly relevant for economists, policymakers, and consumers.
Q: How is this data collected or calculated?
A: The data is collected through a survey of retail prices by Statistics Canada.
Q: How is this trend used in economic policy?
A: The CPI for Food and Non-Alcoholic Beverages is a crucial input for the Bank of Canada's monetary policy decisions, as it helps assess overall inflationary conditions in the economy.
Q: Are there update delays or limitations?
A: The data is released monthly by Statistics Canada with a typical lag of about two weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Food and Non-Alcoholic Beverages (COICOP 01): Total for Canada (CANCP010000GPQ), retrieved from FRED.