Issue 17-03: Industrial Product Price Index (IPPI)
January 5, 2017
Canadian manufacturers received an average of 1.4% more for their products in November 2016 than in the same month of 2015. Primary non-ferrous metal products (+12.0%) and, to a lesser extent, fruit, vegetables, feed and other food products (+2.0%) had the strongest influence on the 12-month change, but 16 other major commodity groups also saw prices rise. Lower prices for meat, fish and dairy products (-2.2%) and energy and petroleum products (-1.1%) moderated the overall rise in the Industrial Product Price Index in November.
Prices for raw materials climbed 4.1% in November compared to the same month of 2004, driven mainly by a 14.7% jump in the price of metal ores, concentrates and scrap. The price of crude oil (+6.6%) remained a large factor in the year-over-year jump in the cost of energy products. Excluding energy, the raw material price index would have increased just 2.3% over November of last year.
Data Source: Statistics Canada