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Previous: 3.0% Expected: 3.0% Actual: 2.8%
The annual average Canadian Consumer Price Index (CPI).
The annual Canadian Average Consumer Price Index (CPI) is one of Canada’s main economic indicators, and it measures the change in the prices of a range of goods and services purchased by the average consumer over a specified period of time. The CPI is calculated on a monthly and annual basis and is considered one of the most important tools used by the Canadian Central Bank to monitor inflation in the Canadian economy.
The annual Canadian Consumer Price Index (CPI) is a major factor influencing Canadian monetary policy. Many traders and investors use it as an indicator that helps them analyze economic trends and make investment decisions.
If the annual release of the Canadian Average Consumer Price Index (CPI) is lower than expected, it means lower inflation in the Canadian economy, and this could lower expectations about economic growth and encourage the central bank to cut interest rates to stimulate economic growth.
How does the annual average Canadian Consumer Price Index (CPI) affect Canadian dollar trading in the forex market?
The annual Canadian Average Consumer Price Index (CPI) is a major driver of the Canadian dollar‘s price movements in the forex market. If the index reading is higher than expected, this indicates that there is an increase in inflation and thus increases the possibility that the Canadian Central Bank will raise interest rates, which makes the Canadian dollar more attractive to foreign investors and leads to an increase in its value in the market.
On the other hand, if the index reading is lower than expected, this indicates a decrease in inflation and thus reduces the possibility of raising interest rates, which makes the Canadian dollar less attractive to foreign investors and leads to a decrease in its value in the market.
The body responsible for issuing the annual Canadian Consumer Price Index (CPI).
The Canadian Average Consumer Price Index (CPI) is published annually by Statistics Canada and released on the thirteenth month of each year. The data is collected through price surveys conducted across the country and covers a wide range of products and services used by the average consumer. It uses aggregated data to calculate the rate of inflation in the Canadian economy and is presented on a monthly and yearly basis.
Statistics Canada is responsible for collecting, analyzing and issuing data on the Canadian Average Consumer Price Index (CPI). This index is widely used by the Canadian government, investors and financial institutions as a key indicator for measuring inflation in the country.
When is the Canadian Average Consumer Price Index (CPI) released annually?
Fired monthly, usually on the third Wednesday after the month ends
Next release
May 21, 2024
 is one of Canada's main economic indicators, and it measures the change in the prices of goods.){kind=link}