Bank of Canada sets out pandemic-adjusted CPI methodology

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Economists at the Bank of Canada have shed light on the method they used to construct an alternative measure of inflation during the Covid-19 pandemic.

Central bank economists Kim Huynh, Helen Lao, Patrick Sabourin and Angelika Welte worked with Statistics Canada to construct the alternative index, based on high-frequency spending data gathered from payments firms.

The team mapped the high-frequency data onto the components of the headline CPI index to estimate how the weightings on different

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