Retail Services Price Index, fourth quarter 2023
Released: 2024-03-19
The Retail Services Price Index (2013=100) is now available for the fourth quarter.
Important notice: Basket update
With the release for the fourth quarter of 2023, a new basket has been introduced, coinciding with the start of the collection period for this quarter. Along with the release of the new basket update, the historical results from the third quarter of 2023 have been revised using the previous basket.
Of the changes made to the latest basket update, the following series has been added, along with the North American Industry Classification System (NAICS) classifications, starting with the fourth quarter of 2023:
• Automobile dealers [4411]
• New car dealers [44111]
• Other motor vehicle dealers [4412]
• Recreational vehicle dealers [44121]
• Motorcycle, boat and other motor vehicle dealers [44122]
These series values preceding the fourth quarter of 2023 have been imputed from the parental series, motor vehicle and parts dealers [441]. Note that the values for recreational vehicle dealers [44121] and motorcycle, boat and other motor dealers [44122] are based on the Retail Price Report, with values for new car dealers [44111] being derived from data on sales of new motor vehicles provided by J.D. Power.
The Retail Services Price Index basket and updated basket weights, based on the year 2022 (see table 18-10-0173-01), are now available. This basket update includes data from the NAICS categories: automobile dealers [4411]; new car dealers [44111]; other motor vehicle dealers [4412], recreational vehicle dealers [44121]; and motorcycle, boat and other motor vehicle dealers [44122].
The index's reference period remains 2013=100.
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Note to readers
The Retail Services Price Index (RSPI) represents the change in the price of retail services. The price of a retail service is defined as the margin price, which is the difference between the average purchase price and the average selling price of the retail product being priced. The RSPI is not a retail selling price index.
With each release, data for the previous quarter may have been revised. The indexes are not seasonally adjusted. Data are available at the Canada level only.
Methodological change for supermarkets and other grocery (except convenience) stores and convenience stores
Statistics Canada is working to reduce the burden on respondents and to improve data quality by finding alternative data sources. Notably, some major retailers now provide scanner data, which comprise detailed sales information on the products they sell. With the release of data from the second quarter of 2020, data collected through questionnaires for some respondents in North American Industry Classification System (NAICS) categories 44511 and 44512 have been replaced by scanner data. As a result, the methodology for calculating indexes for NAICS categories 44511 and 44512 has changed from the reference period of January 2019 onward.
Products
Statistics Canada has launched the new dashboard "Wholesale and Retail Services Price Indexes: Interactive Tool." This web application provides access to wholesale and retail margin data by category.
Statistics Canada launched the Producer Price Indexes Portal as part of a suite of portals for prices and price indexes. This web page provides Canadians with a single point of access to a variety of statistics and measures related to producer prices.
The video "Producer Price Indexes" is available on the Statistics Canada Training Institute web page. It provides an introduction to Statistics Canada's producer price indexes: what they are, how they are produced and what they are used for.
Quality indicators
Data quality indicators are based on measures of survey precision (standard errors), estimates of market coverage (based on the RSPI sample) and the number of reported price quotes.
Index series without data quality indicators are considered to be statistically reliable.
Users are encouraged to consider quality indicators when using RSPI data.
Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).
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