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“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.