CD Howe Institute, which runs a shadow monetary policy council, says it's time to "retire" the CPI-Common measure the central bank helped create with StatsCan a few years ago
This adds to several other private bank economists who have said the measure failed to capture the inflation surge, in particular because of lagged upward revisions
"Monetary policy likely stayed easy longer than it would have if the Bank had relied on something more dependable," CD Howe report says. "The opposite problem is a possibility going forward"
The BOC hasn't indicated it agrees with this analysis; yesterday Deputy Beaudry cited other global reasons why policymakers missed the inflation jump

MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

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Greg Quinn

Greg covers Canada's economy and the Bank of Canada for MNI in Ottawa.

MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

Data Homepage markets-real-time Data Bullet Bullet Markets Fixed Income News Foreign Exchange News

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Calls Grow Louder To End CPI-Common