Issue 18-23 Industrial Product Price Index

January 31, 2018

Canadian manufacturers’ selling prices climbed 2.2% in December, compared to the same month a year earlier. Rising prices for energy and petroleum products (+11.2%) were the major contributor for overall price growth in December. Notable increases were reported for lumber and other wood products (+4.4%), primary non-ferrous metal products (+5.1%), pulp and paper products (+7.3%) and tobacco products (+8.2%). Meanwhile the prices of motorized and recreational vehicles fell by 3.6% year-over-year in December, moderating the overall price increase.

The price of raw materials purchased by Canadian manufacturers rose 6.2% in December compared to December the previous year, mainly due to higher prices for crude energy products (+7.8%). Higher prices for metal ores, concentrates and scrap (+8.8%), and animals and animal (+4.9%) products also contributed to the increase.

Annual Industrial Product Price Index 2017

Selling prices for Canadian manufacturers rose 3.1% in 2017 compared to 2016. The rise was led by increased prices of energy and petroleum products (+13.3%).

The price of raw materials purchased by Canadian manufacturers climbed 11.0% in 2017, compared to a year earlier. The increase was driven by an 18.8% increase in the price of crude energy products.

Source: Statistics Canada