- Canadian industrial product prices decline in October, while raw materials prices climb
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Canadian industrial product prices decline in October, while raw materials prices climb
Statistics Canada released its industrial product and raw materials price indexes on Friday. The Industrial Product Price Index (IPPI) fell 0.5% in October, missing forecasts for a 0.1% drop, after a 0.4% decline in September. September's figure was revised down from 0.3% decrease.
The decrease was mainly driven by lower prices for motorized and recreational vehicles, which slid 1.1% in October.
2 of the 21 commodity groups increased, 18 declined and 1 was unchanged.
The Raw Materials Price Index (RMPI) climbed 0.4% in October, after a 2.4% gain in September. September's figure was revised down from a 3.0% rise.
The rise was driven by higher prices for crude energy products. Crude energy products rose by 2.4% in September.
3 of the 6 commodity groups rose and 3 decreased.
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