Issue 19-174 Industrial Product Price Index

October 31, 2019

Prices for Canadian manufactured goods were 1.3% lower in September compared to the same month of 2018. Energy and petroleum (-10.2%) and, to a lesser degree, chemical (-4.7%) products were the main causes of the overall deflation. Meanwhile, higher prices for primary non-ferrous metal products (+5.1%) and meat, dairy and fish products (+4.2%) moderated overall decreases. Excluding energy and petroleum products, Canada’s Industrial Product Price Index was up 0.3% in September.

Year-over-year, the cost of raw materials declined for the fifth straight month in September (-5.3%). Lower prices for crude energy (-11.5%) was the primary factor in the decrease.

Data Source: Statistics Canada