Statistics Canada released its industrial product and raw materials price indexes on Friday. The Industrial Product Price Index (IPPI) fell 0.2% in December, beating forecasts for a 0.3% drop, after a 0.3% decline in November. November's figure was revised down from 0.2% decrease.

The decrease was mainly driven by lower prices for energy and petroleum products, which slid 5.4% in December.

16 of the 21 commodity groups increased and 5 declined.

The Raw Materials Price Index (RMPI) dropped 5.0% in December, after a 4.1% fall in November. November's figure was revised down from a 4.0% decline.

The drop was driven by lower prices for crude energy products. Crude energy products plunged by 11.9% in December.

3 of the 6 commodity groups rose and 3 decreased.