According to the latest data released by Statistics Canada on March 19, 2024, the Median CPI for Canada in February 2024 showed a slight decrease compared to the previous month. The indicator, which measures the change in consumer prices by excluding the most extreme price movements, reached 3.1% in February, down from 3.3% in January 2024.
The Median CPI provides a more stable measure of inflation compared to the overall CPI by focusing on the middle range of price movements. The comparison of the current indicator to the same month a year ago gives insight into the ongoing inflation trends in the Canadian economy.
While the slight decrease in the Median CPI may indicate some moderation in price movements, economists will continue to monitor the data closely to assess the overall inflationary pressures in Canada and its potential impact on monetary policy decisions.
