Canadian Industrial Product Price rose mostly due to non-ferrous metal products

The Industrial Product Price Index (IPPI) rose 0.2% in July. Higher prices for primary non-ferrous metal products were largely moderated by a decline in prices for energy and petroleum products. The Raw Materials Price Index (RMPI) decreased 2.7%, as a result of lower prices for crude energy products.

The IPPI edged up 0.2% in July, after rising 0.7% in June. Of the 21 major commodity groups, 13 were up, 5 were down and 3 were unchanged.

The largest downward contribution to the IPPI in July came from energy and petroleum products (-3.5%), which posted their first decline since February 2016 (-4.1%). The fall was led by lower prices for motor gasoline (-6.4%) and, to a lesser extent, diesel fuel (-4.2%) and light fuel oils (-3.4%). The IPPI excluding energy and petroleum products rose 0.7% in July.

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