Canada's Consumer Price Index Assignment

Go to the Statistics Canada website found below:

• Statistics Canada

Once there click on the following sequence of links to find the table that shows the CPI for the last five years that data are available.

• Browse by Subject - Prices and price indexes
• Prices and price indexes - Consumer price indexes
• Consumer price indexes - Summary tables 
• Summary Tables - Consumer Price Index, by province

From the data in this table determine each of the following:

1. Canada's rate of inflation for the 5-year period covered in the table. (Hint: you will need to calculate this using the relevant index numbers.)
2. The year that experienced the highest inflation rate during this period.
3. The year that recorded the lowest rate of inflation during the period.
4. The CPI component which has registered the fastest rate of inflation over the period. (Hint: You can do this through careful inspection of the % Table, but to be absolutely certain you might need to calculate 5-year percentages from the Index Number Table.)
5. The CPI component which has fallen the most (or risen the least) during the period. (See Hint immediately above.)
6. Which province experienced the highest level of inflation in the most recent year for which data is available?
7. Which province experienced the lowest level of inflation in the most recent year for which data is available?