StatCan updates CPI basket weights based on 2021 spending patterns, used vehicles sale data

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StatCan updates CPI basket weights based on 2021 spending patterns, used vehicles sale data
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The update comes as inflation sits at its highest rate in more than three decades

CPI is a key economic indicator used by the Bank of Canada when it sets its interest rate target. The index is also used when adjustments are made to many private and public pension programs, income tax deductions and some government social payments.

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