Issue 18-41 Industrial Product Price Index
February 28, 2018
Canadian manufacturers’ selling prices climbed 2.0% in January, compared to the same month a year earlier. Rising prices for energy and petroleum products (+12.0%) were the major contributor for overall price growth in January. Notable increases were reported for pulp and paper products (+8.6%) and tobacco products (+6.0%). Meanwhile the prices of motorized and recreational vehicles fell by 4.0% year-over-year in January, moderating the overall price increase.
The price of raw materials purchased by Canadian manufacturers rose 7.7% in January compared to January the previous year, mainly due to higher prices for crude energy products (+12.9%). Higher prices for metal ores, concentrates and scrap (+8.2%), and logs, pulpwood, natural rubber and other forestry products (+2.9%) also contributed to the increase.
Source: Statistics Canada