Consumer Price Index Forecast
An auto ARIMA forecast of the Canadian Consumer Price Index will be performed in R, using data from www.statscan.gc.ca.
Subset/Filter Data to Product of “All-items”:
Select Data Column:
Convert Data to Time Series:
Fit ARIMA Model:
Forecast ARIMA Model:
“h” equals the number of forecasted periods, in this case 30.
Plot Forecast:
An ARIMA forecast of the Canadian Consumer Price Index was conducted. The forecast shows that prices are expected to continue to rise after 2025 and into 2028.