Skip to main content
Courteo Prêts
Start my file

Rates and pricing

Consumer Price Index (CPI)

Français : Indice des prix à la consommation (IPC)

Statistical measure of cost changes in a representative basket of goods and services for Canadian households. Primary inflation indicator guiding Bank of Canada rate decisions.

Definition

The CPI is calculated monthly by Statistics Canada. It measures the price change of a reference basket representing typical Canadian household spending: food (16%), shelter (29%), transportation (19%), health care (6%), recreation (12%), clothing (5%), and other (13%).

Shelter is the heaviest CPI component and includes: homeowners' replacement cost (proxy for purchase cost), mortgage interest costs, rents, property taxes, and utilities. A rise in mortgage rates paradoxically increases CPI via the 'mortgage interest costs' component.

Core inflation measures (excluded from formal target but monitored by BoC): CPI-median, CPI-trim, CPIX (excluding food and energy).

Official sources

Related terms

Ready to take action?

Start a file journey to obtain a negotiated rate via the Courteo network.

This definition is provided for informational purposes only and does not constitute legal, tax, or financial advice. For a personal situation, consult an AMF-licensed mortgage broker, notary, accountant, or the relevant financial institution.