Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Health for Canada
CANCP060000GYM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
3.44
Year-over-Year Change
10.45%
Date Range
12/1/2015 - 3/1/2025
Summary
The Consumer Price Index (CPI) for Health in Canada measures the changes in prices for healthcare-related goods and services. It is a key indicator of inflationary pressures and consumer purchasing power in the healthcare sector.
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 Health CPI tracks the prices of a fixed basket of healthcare-related items, including medical services, pharmaceuticals, and medical equipment. It is a subcomponent of the overall Canadian CPI and helps policymakers and analysts understand trends in healthcare affordability and cost-of-living changes.
Methodology
The CPI Health data is collected through surveys of retailers and service providers across Canada.
Historical Context
The Health CPI is used by the Bank of Canada and other institutions to inform monetary policy and assess the impact of healthcare costs on the broader economy.
Key Facts
- The Health CPI is a subcomponent of the overall Canadian CPI.
- Healthcare costs make up about 5% of the total Canadian CPI basket.
- The Health CPI has risen at a faster rate than the overall CPI in recent years.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Health in Canada measures the changes in prices for healthcare-related goods and services.
Q: Why is this trend relevant for users or analysts?
A: The Health CPI is a key indicator of inflationary pressures and consumer purchasing power in the healthcare sector, which is important for policymakers and analysts.
Q: How is this data collected or calculated?
A: The CPI Health data is collected through surveys of retailers and service providers across Canada.
Q: How is this trend used in economic policy?
A: The Health CPI is used by the Bank of Canada and other institutions to inform monetary policy and assess the impact of healthcare costs on the broader economy.
Q: Are there update delays or limitations?
A: The Health CPI data is published monthly with a short lag, providing timely information on healthcare price trends.
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Citation
U.S. Federal Reserve, Consumer Price Indices (CPIs, HICPs), COICOP 1999: Consumer Price Index: Health for Canada (CANCP060000GYM), retrieved from FRED.