Issue 18-132 Industrial Product Price Index

July 31, 2018

Canadian manufacturers’ selling prices climbed 5.1% in June, compared to the same month a year earlier. Rising prices for energy and petroleum products (+28.2%) were the major contributor for overall price growth in June. Notable increases were reported for pulp and paper products (+12.7%), tobacco products (+10.1%), and lumber and other wood products (+9.9%). Meanwhile, the prices of meat, fish and dairy products (-3.4%), and motorized and recreational vehicles (-2.2%) fell year-over-year in June, moderating the overall price increase.

The price of raw materials purchased by Canadian manufacturers rose 20.1% in June compared to June the previous year. The upturn in June was mainly due to higher prices for crude energy products (+46.6%). Higher prices for metal ores, concentrates and scrap (+10.0%), and logs, pulpwood, natural rubber and other forestry products (+10.2%) also contributed to the increase.

Source: Statistics Canada