Statistics Canada released its industrial product and raw materials price indexes on Monday. The Industrial Product Price Index (IPPI) dropped 0.5% in April, after a 0.6% decline in March.

The decrease was mainly driven by lower prices for motorized and recreational vehicles, which plunged 2.1% in April.

14 of the 21 commodity groups decreased, 4 were unchanged, while 3 rose.

The Raw Materials Price Index (RMPI) climbed 0.7% in April, after a 4.5% increase in May.

The rise was driven by higher prices for crude energy products. Crude energy products jumped by 4.2% in April.

2 of the 6 commodity groups rose and 4 decreased.