That's largely false. The CPI doesn't distinguish between domestic and imported goods.. Where the drop in the loonie may not be fairly reflected is in services. Except for package holiday trips abroad, these aren't part of the CPI at all as far as pricing is concerned. American hotel fares, tuition fees for American colleges, tickets to games in American stadiums are all ignored in the Canadian CPI, although expenditures on these should be reflected in the index weights.