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- Canadian industrial product and raw materials price indexes decline in January
Canadian industrial product and raw materials price indexes decline in January
Statistics Canada released its industrial product and raw materials price indexes on Tuesday. The Industrial Product Price Index (IPPI) fell 0.4% in January, beating forecasts for a 2.2% drop, after a 1.5% decrease in December. December's figure was revised up from a 1.6% decline.
That was the fifth straight monthly fall.
The decline was driven by lower prices for energy and petroleum products. Energy and petroleum products plunged 11.2% in January.
The Raw Materials Price Index (RMPI) dropped 7.7% in January, missing expectations for a 6.8% fall, after a 7.5% decline in December. December's figure was revised up from a 7.6% decrease.
That was the seventh straight monthly decline.
The drop was driven by lower prices for crude energy products. Crude energy products declined 19.1% in January.
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