Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Canada
CANCP110000IXNBQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
136.27
Year-over-Year Change
19.95%
Date Range
1/1/2015 - 7/1/2023
Summary
The Consumer Price Index: Restaurants and Hotels (COICOP 11) Total for Canada measures changes in prices paid by Canadian consumers for food services, accommodation, and related 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 Consumer Price Index (CPI) is a widely-used measure of inflation that tracks the changes in prices paid by consumers for a basket of goods and services. The Restaurants and Hotels (COICOP 11) component specifically captures price movements in the food service and accommodation sectors, providing insights into consumer spending and service-sector dynamics.
Methodology
The data is collected through surveys of Canadian consumers and businesses by Statistics Canada.
Historical Context
The Restaurants and Hotels CPI is monitored by policymakers, economists, and market analysts to assess overall economic conditions and make informed decisions.
Key Facts
- The Restaurants and Hotels CPI accounts for around 7.5% of the total Canadian CPI basket.
- Canada's Restaurants and Hotels CPI has risen by an average of 2.8% annually over the past decade.
- The Restaurants and Hotels CPI is considered a leading indicator of consumer demand and economic activity.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index: Restaurants and Hotels (COICOP 11) Total for Canada measures changes in prices paid by Canadian consumers for food services, accommodation, and related services.
Q: Why is this trend relevant for users or analysts?
A: This metric provides insights into inflationary pressures in the Canadian service sector, which is a key driver of economic growth and consumer spending.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Canadian consumers and businesses by Statistics Canada.
Q: How is this trend used in economic policy?
A: The Restaurants and Hotels CPI is monitored by policymakers, economists, and market analysts to assess overall economic conditions and make informed decisions.
Q: Are there update delays or limitations?
A: The Restaurants and Hotels CPI data is published monthly by Statistics Canada with a typical lag of around 2-3 weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: Restaurants and Hotels (COICOP 11): Total for Canada (CANCP110000IXNBQ), retrieved from FRED.