Issue 19-141 Industrial Product Price Index
August 30, 2019
Prices for Canadian manufactured goods were 1.7% lower in July compared to the same month of 2018. A decline in prices for energy and petroleum (-7.8%) products was the main cause of the overall deflation. Meanwhile, higher prices for motorized and recreational vehicles (+0.7%) and meat, dairy and fish products (+2.4%) moderated the overall decreases. Excluding energy and petroleum products, Canada’s Industrial Product Price Index was down 0.5% in January.
Year-over-year, the cost of raw materials dipped 9.0% in July. Prices for crude energy (-15.9%) and metal ores, concentrates and scrap (-5.3%) were factors in the gain.
Data Source: Statistics Canada