Issue 18-114 Industrial Product Price Index

June 29, 2018

Canadian manufacturers’ selling prices climbed 3.1% in May, compared to the same month a year earlier. Rising prices for energy and petroleum products (+23.7%) were the major contributor for overall price growth in May. Notable increases were reported for pulp and paper products (+9.8%) and tobacco products (+9.1%). Meanwhile the prices of motorized and recreational vehicles fell by 4.3% year-over-year in May, moderating the overall price increase.

The price of raw materials purchased by Canadian manufacturers rose 15.1% in May compared to May the previous year. The upturn in May was mainly due to higher prices for crude energy products (+35.2%). Higher prices for metal ores, concentrates and scrap (+5.8%), and logs, pulpwood, natural rubber and other forestry products (+7.6%) also contributed to the increase.

Source: Statistics Canada