Consumer Price Index

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The Consumer Price Index (CPI) is an indicator of changes in consumer prices experienced by Canadians. It is obtained by comparing, over time, the cost of a fixed basket of goods and services purchased by consumers.

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All (5)

All (5) ((5 results))

  • 1. Evaluating different approaches to measuring owned accommodation in the Consumer Price Index
    Articles and reports: 62F0014M2024002
    Description: In collaboration with the Bank of Canada, this research paper focuses on constructing analytical price index series for Canada, using the main owned accommodation measurement concepts proposed by the International Consumer Price Index Manual and adopted by other countries. This analysis explores these alternative treatments of owned accommodation in the Canadian context, examining their impact on the all-items Consumer Price Index. Additionally, it provides an explanation for the gap between perceived inflation and estimated inflation.
    Release date: 2024-03-28
  • 2. Shelter in the Canadian CPI: An overview, 2023 update
    Articles and reports: 62F0014M2023007
    Description: This article is an overview of the treatment of Shelter in the Canadian Consumer Price Index (CPI). It describes the concepts and methodologies related to the construction of that component and briefly discusses considerations to be taken into account when using the estimates.
    Release date: 2023-12-19
  • 3. New approach for estimating the rent component of the Consumer Price Index Archived
    Articles and reports: 62F0014M2019002
    Description:

    This paper describes a new methodology that Statistics Canada has adopted to measure the rent index.

    Release date: 2019-02-27
  • 4. Housing Market Indicators
    Data Visualization: 71-607-X2018014
    Description:

    This web application provides access to key housing market indicators for Canada, by province and by census metropolitan area. This dynamic application allows users to view geographical rankings for each housing market indicator and to create useful reports as well as interactive maps and charts for comparative analysis. All data in this application are updated with each monthly indicator release. Links to The Daily texts and data tables are also provided.

    Release date: 2018-12-13
  • 5. Housing Depreciation in the Canadian CPI Archived
    Articles and reports: 62F0014M2001015
    Geography: Canada
    Description:

    The Canadian Consumer Price Index (CPI) applies a version of the user cost approach to measure the cost of home ownership. Because this approach specifically estimates the costs of using owned accommodation and not those faced by tenants, the measure includes a "replacement cost" (or depreciation) component. Depreciation is the only component in the CPI that is not an out-of-pocket expense. Consequently, economists face a unique set of methodological challenges when measuring depreciation.

    Between 1949 and 1997, the annual housing depreciation rate used in the CPI was 2%. Statistics Canada adopted the rate from a study that analysed U.S. Federal Housing Administration field appraisal data from 1939.

    This study argues that there is evidence that the 2% depreciation rate is too high to continue to use in the future. Consider that: 1) other Canadian studies show an upper bound of 1.7%, with a median estimate of 1.5%; 2) other statistical agencies use lower rates; and 3) every academic study over the past 40 years has arrived at a lower rate. As a consequence of this study and the existing supporting evidence, the depreciation rate in the Canadian CPI was lowered to 1.5% effective January 1998.

    Release date: 2001-11-28
Data (1)

Data (1) ((1 result))

  • 1. Housing Market Indicators
    Data Visualization: 71-607-X2018014
    Description:

    This web application provides access to key housing market indicators for Canada, by province and by census metropolitan area. This dynamic application allows users to view geographical rankings for each housing market indicator and to create useful reports as well as interactive maps and charts for comparative analysis. All data in this application are updated with each monthly indicator release. Links to The Daily texts and data tables are also provided.

    Release date: 2018-12-13
Analysis (4)

Analysis (4) ((4 results))

  • 1. Evaluating different approaches to measuring owned accommodation in the Consumer Price Index
    Articles and reports: 62F0014M2024002
    Description: In collaboration with the Bank of Canada, this research paper focuses on constructing analytical price index series for Canada, using the main owned accommodation measurement concepts proposed by the International Consumer Price Index Manual and adopted by other countries. This analysis explores these alternative treatments of owned accommodation in the Canadian context, examining their impact on the all-items Consumer Price Index. Additionally, it provides an explanation for the gap between perceived inflation and estimated inflation.
    Release date: 2024-03-28
  • 2. Shelter in the Canadian CPI: An overview, 2023 update
    Articles and reports: 62F0014M2023007
    Description: This article is an overview of the treatment of Shelter in the Canadian Consumer Price Index (CPI). It describes the concepts and methodologies related to the construction of that component and briefly discusses considerations to be taken into account when using the estimates.
    Release date: 2023-12-19
  • 3. New approach for estimating the rent component of the Consumer Price Index Archived
    Articles and reports: 62F0014M2019002
    Description:

    This paper describes a new methodology that Statistics Canada has adopted to measure the rent index.

    Release date: 2019-02-27
  • 4. Housing Depreciation in the Canadian CPI Archived
    Articles and reports: 62F0014M2001015
    Geography: Canada
    Description:

    The Canadian Consumer Price Index (CPI) applies a version of the user cost approach to measure the cost of home ownership. Because this approach specifically estimates the costs of using owned accommodation and not those faced by tenants, the measure includes a "replacement cost" (or depreciation) component. Depreciation is the only component in the CPI that is not an out-of-pocket expense. Consequently, economists face a unique set of methodological challenges when measuring depreciation.

    Between 1949 and 1997, the annual housing depreciation rate used in the CPI was 2%. Statistics Canada adopted the rate from a study that analysed U.S. Federal Housing Administration field appraisal data from 1939.

    This study argues that there is evidence that the 2% depreciation rate is too high to continue to use in the future. Consider that: 1) other Canadian studies show an upper bound of 1.7%, with a median estimate of 1.5%; 2) other statistical agencies use lower rates; and 3) every academic study over the past 40 years has arrived at a lower rate. As a consequence of this study and the existing supporting evidence, the depreciation rate in the Canadian CPI was lowered to 1.5% effective January 1998.

    Release date: 2001-11-28
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