Issue 16-01: Industrial Product Price Index (IPPI)
January 5, 2016
Canadian manufacturers’ prices were 0.2% lower in November 2015 than in the same month of 2014. Prices were up in most commodity groups, but increases were offset by falling prices for a few other major commodity groups, most notably energy and petroleum products (-19.8%). Motorized and recreational vehicles had a strong moderating influence on the 12-month change, climbing 11.5% from November of 2014. Higher prices for electrical, electronic, audiovisual and telecommunication products (+6.0%) also helped to temper the overall decline in manufacturers’ prices. Had energy and petroleum been excluded, the IPPI would have climbed 3.3%.
Prices for raw materials dropped 16.3% in November compared to the same month of 2014, driven mainly by a 29.5% decline in the price of crude energy products. Without energy products, the Raw Materials Price Index would have decreased a more moderate -4.7%.
Data Source: Statistics Canada