“Prices for products sold by Canadian manufacturers, as measured by the Industrial Product Price Index (IPPI), decreased 0.8% in November, mainly due to lower prices for energy and petroleum products,” announced Statistics Canada on Friday.
Key takeaways from the press release
- The decline in the index was mainly due to lower prices for energy and petroleum products (-6.6%) and, to a lesser degree, chemicals and chemical products (-1.6%).
- The IPPI rose 2.8% in November compared with the same month a year earlier, after increasing 5.2% in October.
- Prices for raw materials purchased by Canadian manufacturers, as measured by the Raw Materials Price Index (RMPI), fell 11.7%, largely reflecting lower prices for crude energy products.
- The RMPI was down 11.7% in November, after falling 2.3% in October.
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