Prices of products manufactured in Canada decreased 0.8% in August

Statistics Canada
September 20, 2024
Category: Finance & Economics
Region: Canada

Prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), decreased 0.8% month over month in August and rose 0.2% on a yearly basis. …Lower prices for energy and petroleum products were mainly responsible for the decline. Excluding energy and petroleum products, the IPPI decreased 0.2%. …The IPPI‘s monthly decline in August was moderated by higher prices for several commodities, with lumber and other wood products and chemicals and chemical products being the largest upward contributors. Prices for lumber and other wood products rose 2.1% in August. Softwood lumber was the main driver of the higher prices in this group, rebounding 7.7% in August after four consecutive monthly declines.

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