Canadian producer price data for August:
– Prior was +0.7% m/m
– Raw materials price index -6.6% vs -7.5% m/m expected
– Prior raw materials price index was -5.9% m/m
Raw materials prices are plummeting and that will eventually hit the main CPI. The numbers are slightly better than expected but this is a low tier indicator and rarely, if ever, moves CAD.
