Statistics Canada postpones next CPI release to avoid holiday timing

Statistics Canada has moved the release date for its next consumer price index to February 17 after the originally scheduled day coincided with a statutory holiday in most provinces, when equity and bond markets would be closed. The agency said the decision followed consultation with stakeholders and was intended to ensure data are available when they can be used most effectively by data users.

Key Points

Statistics Canada moved the next CPI release to February 17 because the original date fell on a statutory holiday observed in eight provinces when equity and bond markets would be closed.
The agency said the change followed consultation with key stakeholders and was intended so data users could access the figures when markets were operating and the data could be optimally used for decision-making.
Sectors most directly affected by the timing are financial markets - notably equity and bond markets - and market participants who use CPI data for policy and investment decisions.

Statistics Canada has delayed the publication of its upcoming consumer price index (CPI) report, setting a new release date of February 17. The change came after the initial date landed on a statutory holiday observed in eight of Canadas ten provinces, a day when key financial markets - including equity and bond trading - would not be operating.

Officials said the move aims to strike a balance between timely dissemination of inflation data and the practical needs of those who rely on the figures for decision-making. "Statistics Canadas goal is to balance timeliness in disseminating our data with the needs of data users," said Julien Abord-Babin, a spokesperson for the agency, in an emailed statement.

The rescheduling followed concerns raised by economists about issuing a major inflation release on a day when market participants would not have access to operating markets. Agency communications said the decision was intended to ensure that "data users benefit from having access to these figures at a time when they can be optimally used for decision-making."

According to the agency, the adjustment was made after consultation with key stakeholders and in response to what it described as "exceptional circumstances." The agency framed the revision as a way to maximize the practical utility of the CPI release by aligning it with a day when financial markets are functional and information can be immediately incorporated into economic and investment decisions.

The move will shift the timing of when market participants, policy analysts and other data users receive the latest inflation snapshot. By choosing a publication date when trading is open across most of the country, the agency said it is seeking to ensure that the information can be used effectively in real time.

Details on the content of the CPI report and its potential implications were not part of the announcement. The agencys statement emphasized process and timing rather than substantive data outcomes.

Bottom line: Statistics Canada changed its CPI publication to February 17 to avoid releasing key inflation data on a statutory holiday when equity and bond markets would be closed, citing stakeholder consultation and "exceptional circumstances."

Risks

Releasing inflation data on a statutory holiday could limit market access and the ability of financial participants to respond in real time - affecting equity and bond market reactions.
The agencys reference to "exceptional circumstances" leaves open uncertainty about what future situations might prompt similar rescheduling, which could complicate planning for data users and market participants.

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