“Prices of products sold by Canadian manufacturers, as measured by the Industrial Product Price Index (IPPI), increased 0.5% in April, mainly due to higher prices for energy and petroleum products,” Statistics Canada reported today.
Prices for raw materials purchased by Canadian manufacturers, as measured by the Raw Materials Price Index (RMPI), rose 0.7%, primarily due to higher prices for crude energy products.
The IPPI (+0.5%) posted its fourth consecutive monthly increase in April, following a 0.9% increase in March.
Of the 21 major commodity groups, 7 were up, 11 were down and 3 were unchanged.
Prices rose for motor gasoline (+7.2%), light oil fuels (+3.4%) and diesel fuel (+3.5%).
Lower production levels by members of the Organization of the Petroleum Exporting Countries (OPEC) continued to pressure supply and contributed to higher prices for petroleum products. Primary ferrous metal products (+0.8%) also contributed to the rise.
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