Rates and Statistics
Price Indexes
Effect of changes in indirect taxes on the CPI
The Bank of Canada estimates that the effect of changes to indirect taxes in June was 0.00 percentage points for total CPI and 0.00 percentage points for the subset of the CPI that excludes eight of the most volatile components.
The contribution of changes in indirect taxes to year-over-year variations in the total CPI and in the core CPI in June was 0.01 percentage points and 0.00 percentage points, respectively.
The Bank of Canada's measure of core inflation excludes eight of the components of the CPI basket that display the greatest volatility, as well as the effect of changes in indirect taxes on the remaining components. The latest data on core inflation will be released on the Bank's Web site at 8:30 a.m. on Friday, July 21.