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- Canadian Industrial Product Price Index declined 1.5% in July
Canadian Industrial Product Price Index declined 1.5% in July
The Industrial Product Price Index (IPPI) declined 1.5% in July, mainly due to lower prices for motorized and recreational vehicles. The Raw Materials Price Index decreased 0.6%, mostly attributable to lower prices for metal ores, concentrates and scrap.
The IPPI posted its largest decline since December 2014, down 1.5% in July following a 1.1% decrease in June. The decline in the IPPI was widespread. Of the 21 major commodity groups, 18 were down, 1 was up and 2 were unchanged.
Prices for motorized and recreational vehicles (-3.3%), which posted their largest decline since May 2009 (-3.9%), were primarily responsible for the decline in the IPPI in July. Lower prices for passenger cars and light trucks (-3.5%), motor vehicle engines and motor vehicle parts (-2.7%) and aircraft (-4.4%) led the decline in this commodity group. Lower prices for motorized and recreational vehicles were closely linked to the appreciation of the Canadian dollar relative to the US dollar.
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