Consumer Price Index

Definition

  • An index that measures movements in the average price of products and services typically consumed by Canadian families.

Synonyms
current costs, cost-of-living, going price, movements in price

Acronyms
CPI

Related Terms and Acronyms

  • Consumer Debt Definition,
    • Debts incurred for personal, as opposed to business, needs.
  • Consumer Price Index for the Previous Year (CPIPY)Acronym, Canada,
    • Core Consumer Price Index (CPIX)Acronym,
      • This measure strips out eight of the most volatile CPI components (fruit, vegetables, gasoline, fuel oil, natural gas, mortgage interest, intercity transportation, and tobacco products), as well as the effect of changes in indirect taxes on the remaining components. The Bank also monitors other measures of underlying (“core”) inflation.
      Bank of Canada's measure of core inflation.
    • Cost of Living Adjustment (COLA) Acronym,
      • A method used to keep salaries and benefits in line with inflation by following an index such as the Consumer Price Index.
    • Demographics Definition,
      • Characteristics of the population that influence consumption of products and services. They include age, sex, race, family size, level of education, occupation, income and location of residence.
    • Economic Indicators Definition,
      • Statistics that help determine how the economy is faring. They include the Consumer Price Index, housing starts, and unemployment rates, among others.
    • Harmonized Consumer Price Index (HCPI)Acronym,
      • Index Definition,
        • A table of yields or interest rates being paid on debt (such as Treasury notes or bank deposits) that is used to determine interest-rate changes.
      • Inflation Definition,
        • A rise in the average level of prices in the economy.
      • Inflation Protection Definition,
        • A protection found in some insurance policies that allows policy limits to increase with inflation.
      • Rate Index Definition,
        • A table of yields or interest rates being paid on debt (such as Treasury notes or bank deposits) that is used to determine interest-rate changes for adjustable-rate mortgages and other variable-rate loans.
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