Consumer Price Index: OECD Groups: Goods: Total for Canada
CANCPGRGO01GPQ • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.72
Year-over-Year Change
-27.55%
Date Range
4/1/1961 - 7/1/2023
Summary
The Consumer Price Index (CPI) for Goods: Total measures changes in the prices paid by Canadian consumers for a basket of goods, excluding services. It is a key indicator of inflation and consumer purchasing power.
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 Goods: Total is a subcomponent of the overall Canadian Consumer Price Index, which tracks the change in prices for a representative basket of consumer goods and services. The Goods: Total index specifically focuses on physical products purchased by households, excluding services.
Methodology
The data is collected through surveys of Canadian consumers and businesses, and calculated using a weighted average of price changes.
Historical Context
The CPI for Goods: Total is closely monitored by the Bank of Canada and other policymakers to gauge inflationary pressures and guide monetary policy decisions.
Key Facts
- The CPI for Goods: Total is a subcomponent of the overall Canadian CPI.
- It measures changes in prices for a basket of consumer goods, excluding services.
- The CPI for Goods: Total is a key indicator of inflation and consumer purchasing power.
FAQs
Q: What does this economic trend measure?
A: The Consumer Price Index (CPI) for Goods: Total measures changes in the prices paid by Canadian consumers for a basket of physical goods, excluding services.
Q: Why is this trend relevant for users or analysts?
A: The CPI for Goods: Total is a crucial indicator of inflationary pressures and consumer purchasing power in Canada, and is closely monitored by policymakers and analysts.
Q: How is this data collected or calculated?
A: The data is collected through surveys of Canadian consumers and businesses, and calculated using a weighted average of price changes for the goods in the basket.
Q: How is this trend used in economic policy?
A: The CPI for Goods: Total is used by the Bank of Canada and other policymakers to gauge inflationary pressures and guide monetary policy decisions to maintain price stability.
Q: Are there update delays or limitations?
A: The CPI for Goods: Total data is published monthly by Statistics Canada, with a typical release lag of around two weeks.
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Citation
U.S. Federal Reserve, Consumer Price Index: OECD Groups: Goods: Total for Canada (CANCPGRGO01GPQ), retrieved from FRED.