Canadian Industrial Product Price Index Up Month-Over-Month and Year-Over-Year

Statistics Canada (StatsCan) today (11-16-21) released it flash estimates for the October Industrial Product Price Index (IPPI). The IPPI was up 1.3% month-over-month and 16.7% year-over-year. Energy and petroleum products (+7.6%) led the monthly growth in the IPPI.

The lumber and other wood products group (+5.4%) was the second largest contributor to the month-over-month gain in the IPPI in October, after posting four consecutive monthly declines. The upward movement was mainly due to higher prices for softwood lumber (+11.1%). In spite of the monthly increase, prices for softwood lumber were -4.2% lower compared with October 2020.

Prices for fabricated metal products and construction materials were up 4.7% in October, mainly driven by higher prices for metal building and construction materials (+6.8%).

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Original Source:
Industrial Product Price Index: Flash estimates, October 2021