Bank of Canada Commodity Price Index

## What this measures

A price index of 26 commodities Canada produces and sells, from oil and natural gas to metals, lumber and crops, weighted by Canadian production and priced in U.S. dollars.

## Why it matters

Commodities are a large share of Canadian exports, so the BCPI drives national income, provincial revenues and the Canadian dollar.

## How to read it

Compare with a year earlier. Energy is about a third of the weight, so oil prices dominate the total; use the ex-energy index to see the rest.

## What it does not say

It measures prices, not volumes or profits.

## Source

Bank of Canada, Valet API, series M.BCPI ("Monthly BCPI Total"). Palanor pulls it from the Bank's Valet service every weekday. Source: Bank of Canada. Content obtained from the Bank of Canada website; changes are noted where Palanor computes from it.