An analysis of the 2025 Consumer Price Index basket update, based on 2024 expenditures / by Denam Drew.: CS62-0014/2025-3E-PDF

"The Consumer Price Index (CPI) is a Laspeyres-type price index, meaning that basket quantities are fixed to the reference period of the basket weights, which are estimates of consumer expenditures used for upper-level aggregation. To ensure the CPI remains representative of the price change experienced by Canadians, the basket weights must reflect how Canadians are spending their money. A fixed-basket price index, such as the CPI, can only account for shifts in consumer spending when the basket weights are updated. Therefore, scheduling basket updates at regular intervals allows the CPI to capture changing expenditure patterns. The May 2025 CPI, to be released on June 24, will mark the introduction of updated basket weights in the calculation of the CPI. The 2025 basket update using 2024 expenditures will replace the 2023 expenditures that were introduced in June 2024. The continuity of the CPI series is maintained by chain linking2 the corresponding indices obtained from consecutive baskets. This is done separately for each aggregate series, which is defined as the intersection of a product and a geographic area"--Introduction, page 4.

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