Issue 19-108 Industrial Product Price Index

June 28, 2019

Prices for Canadian manufactured products edged 0.6% higher in May compared to the same month of 2018. Motorized and recreational vehicles (+3.2%) and meat, fish, and dairy products (+5.8%) were the main causes of the overall inflation. Meanwhile, lower prices for primary non-ferrous metal (-6.8%) and energy and petroleum (-2.5%) products moderated the overall increase. Excluding energy and petroleum products, Canada’s Industrial Product Price Index was up 1.1% in May.

The cost of raw materials declined 2.8% in May. Prices for crude energy (-6.3%) and metal ores, concentrates and scrap (-4.7%) were major factors in the decrease.

Data Source: Statistics Canada