Issue 16-165: Industrial Product Price Index
August 30, 2016
Canadian manufacturers’ prices were 1.3% lower this July than in the same month last year, largely due to falling prices for energy and petroleum (-13.0%) and chemical (-5.5%) products. Excluding energy and petroleum, the overall index would have been up 0.5%. Higher prices for primary non-ferrous metal products (+5.4%) moderated the overall decline in the Industrial Product Price Index.
The cost of raw materials slipped 5.7% in July, mostly the result of an 11.6% price drop for crude energy products.