Issue 18-152 Industrial Product Price Index

August 31, 2018

Canadian manufacturers’ prices were notably higher (+6.6%) this July than in the same month of 2017. A 27.8% year-over-year surge in the price of energy and petroleum products was the largest contributor to the overall increase, and price boosts for pulp and paper (+17.3%) and primary non-ferrous metal (+7.8%) products also exerted upward pressure. Excluding energy and petroleum products, the Industrial Product Price Index would have climbed just 3.6% over the twelve-month period.

The Raw Materials Price Index jumped 22.0% in July, pushed up primarily by a 53.2% spike in the price of crude energy products. Year-over-year declines in prices for animal (-3.5%) and crop (-1.5%) products only moderated the overall increase.

Data Source: Statistics Canada