Consumer Price Index: Transport (COICOP 07): Total for Canada
CANCP070000IXNBM • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
135.70
Year-over-Year Change
-1.02%
Date Range
12/1/2014 - 11/1/2023
Summary
The Consumer Price Index: Transport (COICOP 07): Total for Canada measures the changes in prices for transportation-related goods and services in the Canadian economy. This metric is a key indicator of consumer inflation and a critical input for policymakers and analysts.
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 Consumer Price Index: Transport (COICOP 07): Total for Canada tracks price changes across a wide range of transportation expenditures, including private transportation, public transportation, and vehicle operation. It is an important economic indicator used to assess the overall cost of living and inflationary pressures.
Methodology
The data is collected through surveys of Canadian households and businesses and calculated using a weighted average of price changes.
Historical Context
This transport price index is used by the Bank of Canada and other policymakers to inform monetary policy decisions and economic forecasts.
Key Facts
- The index has a base year of 2002 = 100.
- Transportation accounts for about 19% of the total Canadian CPI basket.
- Prices for this sector have risen by over 40% since 2002.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Transport (COICOP 07): Total for Canada measures changes in the prices of transportation-related goods and services in the Canadian economy.
Q: Why is this trend relevant for users or analysts?
A: This metric is a key indicator of consumer inflation and an important input for policymakers and analysts assessing the overall cost of living and economic conditions in Canada.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Canadian households and businesses and calculated using a weighted average of price changes.
Q: How is this trend used in economic policy?
A: The transport price index is used by the Bank of Canada and other policymakers to inform monetary policy decisions and economic forecasts.
Q: Are there update delays or limitations?
A: The data is published monthly with a typical 1-2 month lag.
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Citation
U.S. Federal Reserve, Consumer Price Index: Transport (COICOP 07): Total for Canada (CANCP070000IXNBM), retrieved from FRED.