Canadian Financial, Real Estate and Mortgage Glossary

How often this word is used
62% - Often

Consumer Price Index

Synonyms:cost-of-living, current costs, going price, movements in price
Acronyms &
Filed Under: financial-banking, investments
Tags: econometrics, economics, statistics, taxes

Definition of consumer price index (CPI)

consumer price index (CPI)
1. An index that measures movements in the average price of products and services typically consumed by Canadian families.

Related Terms and Acronyms:

  • consumer debt   Debts incurred for personal, as opposed to business, needs.
  • core consumer price index (CPIX)   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)   A method used to keep salaries and benefits in line with inflation by following an index such as the Consumer Price Index.
  • demographics   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   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)
  • index   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   A rise in the average level of prices in the economy.
  • inflation protection   A protection found in some insurance policies that allows policy limits to increase with inflation.
  • rate index   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.

More Related Terms and Acronyms

  • Consumer Price Index for the Previous Year (CPIPY) — Canada, Acronym

Search the Glossary

Mortgage Rates
If you look for a mortgage online, you'll soon see that from one lender, bank, or broker to the next, the rates offered can be substantially different. Some high, some low. Compare the best mortgage rates and make sure your money isn't being wasted.
Mortgage Rates
Don't get a second mortgage!
The rates for a second mortgage can run as high as 19%.

Use your home equity as an advantage! Consolidate your debt with us and enjoy our 5-year rate of 1.84%.
Worried Man
Mortgage Brokers
Buying a house takes a fair bit of time and chances are your life is pretty busy already, what with work, school, maybe even soccer practice for the kids. Hire the right professionals and you can take that hassle off your plate. Our brokers can handle everything for you, from start to finish, and do it in record time.
Mortgage Brokers Save Time