Image Courtesy of Bank of Canada
Council policy states that the District of West Kelowna will apply the British Columbia Consumer Price Index (CPI) rate to those contracts, agreements and rates that are linked to CPI increases.
View the Latest BC CPI Index
Contracts that have more than a one year term usually provide for periodic rate adjustments with the CPI index being the most common basis for those changes. For consistency and clarity, Council felt it would be beneficial to have an officially recognized CPI, which the District of West Kelowna would use to determine the contract increases.
Contracts that predate Council's June 28, 2011 policy decision are covered by whatever provisions already existed in those agreements. Going forward, the BC CPI will guide staff in negotiating terms of future contracts.
For more information on the BC Consumer Price Index or to obtain information regarding BC Economic Statistics and Population and Demographics figures, please visit the BCStats website.
To learn more, please contact the District of West Kelowna's Financial Services Division at: