Issue 19-36 Industrial Product Price Index

February 28, 2019

Canadian manufacturers’ prices were higher (+1.0%) this January than in the same month of 2018. A 3.8% year-over-year upturn in the price of motorized and recreational vehicles was the largest contributor to the increase, and price boosts for primary ferrous metal (+14.5%) and pulp and paper (+8.0%) products also exerted upward pressure. The growth in the Industrial Product Price Index (IPPI) was moderated by lower prices for energy and petroleum products (-8.1%).

Meanwhile, the Raw Materials Price Index (RMPI) declined 5.5% in January, pushed down primarily by an 8.6% dip in the price of crude energy products. Year-over-year declines in prices for animal (-5.9%) and metal ores, concentrates and scrap (-4.4%) products also contributed to the overall decrease. Excluding crude energy products, the RMPI would have fallen a more moderate 2.9% in January.

Data Source: Statistics Canada