Issue 16-35: Industrial Product Price Index (IPPI)
March 1, 2016
Prices for Canadian manufactured goods were 1.7% higher in January compared to the same month of 2015. Motorized and recreational vehicles (+11.4%) and electrical, electronic, audiovisual and telecommunication products (+6.0%) were the main causes of the overall inflation. A substantial decline in prices for energy and petroleum products (-10.7%) offset much of the increase, such that had this sector been excluded, the IPPI would have climbed 3.4%, rather than 1.7%.
The cost of raw materials declined 7.5 % in the 12-month period ending in January. Falling prices for crude energy products (-11.9%) were a key factor in the decrease.
Data Source: Statistics Canada