“Prices for products sold by Canadian manufacturers, as measured by the Industrial Product Price Index (IPPI), decreased 0.5% in August, mainly due to lower prices for primary non-ferrous metal products,” Statistics Canada reported today.
Key highlights from the press release
- Prices for raw materials purchased by Canadian manufacturers, as measured by the Raw Materials Price Index (RMPI), fell 4.6%, largely reflecting lower prices for crude energy products.
- This was the largest decline in the RMPI since December 2015.
- Compared with the same month a year earlier, the RMPI rose 15.5% in August, following a 22.2% increase in July.
- The IPPI rose 5.8% over the 12-month period ending in August, after increasing 6.7% in July.
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