According to Statistics
Canada, the Industrial Product Price Index (IPPI) increased 1.8 percent in February, largely as a result of higher prices for energy and petroleum products. The Raw Materials Price Index (RMPI) rose 6.1 percent, mainly because of higher prices for crude energy products.
The IPPI (+1.8 percent) increased for the first time in six months in February, after decreasing 0.3 percent in January. The last time the IPPI posted an increase was August 2014, when the index rose 0.3 percent. Contributing to the increase in the IPPI were higher prices for motorized and recreational vehicles (+2.2 percent). The main reason for the increase in this commodity group was higher prices for passenger cars and light trucks (+2.3 percent), motor vehicle engines and motor vehicle parts (+1.6 percent) as well as aircraft (+3.3 percent). The increase in the prices of motorized and recreational vehicles was closely linked to the depreciation of the Canadian dollar relative to the US dollar.