Statistics Canada (StatsCan) reported today (10-29-21) that the price of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), increased 1.0% month-over-month in September and 14.9% year-over-year.
Prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), increased 2.5% month over month in September and 31.9% year-over-year.
In September, the IPPI increased 1.0% after decreasing -0.3% the previous month. Of the 21 major commodity groups, 14 were up, 5 were down, and 2 were unchanged. The growth in the IPPI was mainly attributable to increases in prices for energy and petroleum products (+3.8%).
The IPPI’s growth was mainly moderated by a decline in prices for lumber and other wood products (-1.3%). Lower prices for veneer and plywood (-10.3%), softwood lumber (-0.7%), and reconstituted wood products (-1.7%) were the main contributors to the decline in this product group.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
Industrial product and raw materials price indexes, September 2021