Issue 19-17 Industrial Product Price Index
January 31, 2019
Prices for Canadian manufactured goods were 2.2% higher in December compared to the same month of 2017. Motorized and recreational vehicles (+2.8%) and pulp and paper (+11.4%) products were the main causes of the overall inflation. Meanwhile, lower prices for energy and petroleum products (-3.4%) moderated total increases – excluding these products, Canada’s Industrial Product Price Index was up 3.1% in January.
The cost of raw materials slipped 5.8% in December, adding to a 10.0% decrease recorded in November. Prices for crude energy (-11.0%), animals and animal products (-4.0%), and metal ores, concentrates and scrap (-2.7%) were factors in the decline.