Bank Of Canada Says CPI Trust Has Fallen Amid Perceived Gap With Daily Costs

The Bank of Canada said a disconnect between official inflation data and Canadians’ day-to-day experience has reduced public trust in the Consumer Price Index (CPI) and, in turn, weakened trust in the central bank. According to Jin10, the central bank said the perceived gap between reported inflation and what people feel in everyday life has contributed to declining confidence in the CPI as a measure of consumer prices. The Bank of Canada added that this erosion of trust in the CPI has also undermined confidence in the central bank itself.