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- Canadian industrial product price indexes climbs in July, while raw materials prices drop
Canadian industrial product price indexes climbs in July, while raw materials prices drop
Statistics Canada released its industrial product and raw materials price indexes on Friday. The Industrial Product Price Index (IPPI) climbed 0.7% in July, beating forecasts for a flat reading, after a 0.5% gain in June.
The increase was driven by higher prices for motorized and recreational vehicles, which rose 2.5% in July.
17 of the 21 commodity groups increased, 2 declined and 2 were unchanged.
The Raw Materials Price Index (RMPI) dropped 5.9% in July, after a 0.2% rise in June.
The decline was driven by lower prices for crude energy products. Crude energy products plunged 13.0% in June.
2 of the 6 commodity groups rose, 3 decreased and 1 were unchanged.
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