MNI BRIEF: StatsCan Adjusts Revision Policy For Core Inflation

Following is the text of Statistics Canada's note Monday outlining a new revision policy for some core inflation rates: 

Change to the Revision Policy for CPI-Median and CPI-Trim

With today's release of the Consumer Price Index, Statistics Canada implemented an updated revision policy for two core inflation
measures, CPI-median and CPI-trim (table 18-10-0256-01). This update ensures greater alignment with international best practices and
other major Canadian economic indicators.

CPI-median and CPI-trim are calculated using seasonally adjusted consumer price data. Previously, CPI-median and CPI-trim were
revised over a seven-year historical period with each release. With this release onwards, revisions will extend back three years, on an
annual basis, with each January release, while for all other months, CPI-median and CPI-trim will be revised for one historical month. This
approach aligns with the revision policy for seasonally adjusted data available in table 18-10-0006-01.

The underlying model parameters used to calculate the seasonally adjusted data used to produce CPI-median and CPI-trim will remain
unchanged, as will the revision policy for CPI-common, which is not based on seasonally adjusted data.

For additional information, users may contact the Consumer Prices Division
(statcan.cpddisseminationunit-dpcunitedediffusion.statcan@statcan.gc.ca).