Canada’s Industrial Product Price Index and Raw Materials Price Index Both Increase in September
Industrial product and raw materials price indexes, September 2022
Statistics Canada (StatCan) on Wednesday (10-19-20) reported that in September the prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), increased month-over-month by 0.1%. Year-over-year the IPPI was 9% higher.
Prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), declined 3.2% on a monthly basis in September but were 11.0% higher year-on-year.
The price of energy and petroleum products dropped 2.5% in September, marking the third consecutive monthly of decline. However, year-over-year they are 38.4% higher. Compared from the start of 2022, the product group is 56.8% higher.
Prices for logs, pulpwood, natural rubber, and other forestry products decreased 11.7% in September, a record month-over-month decline since the start of the series in January 2010. Year over year, the group was 9.1% higher than in September 2021. Lower prices for softwood logs and bolts (except fuel wood and pulpwood) (-13.9%) reflect recent declines in prices for lumber.
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