According to Statistics Canada, the Industrial Product Price Index (IPPI) rose 0.6 percent in June, mainly due to higher prices for energy and petroleum products. The Raw Materials Price Index (RMPI) increased 1.8 percent, as a result of higher prices for crude energy products.
The IPPI advanced 0.6 percent in June, after gaining 1.2 percent in May. Of the 21 major commodity groups, 14 were up, 4 were down and 3 were unchanged.
Motorized and recreational vehicles edged down 0.1 percent in June, led by lower prices for motor vehicle engines and motor vehicle parts (-0.3 percent), passenger cars and light trucks (-0.1 percent), and aircraft (-0.3 percent). Lower prices for motorized and recreational vehicles were closely linked to the appreciation of the Canadian dollar relative to the US dollar.
The IPPI declined 0.8 percent over the 12-month period ending in June, after falling 0.9 percent in May. Moderating the year-over-year decrease in the IPPI were higher prices for motorized and recreational vehicles (+2.4 percent), specifically passenger cars and light trucks (+2.8 percent) and aircraft (+4.9 percent).
Meanwhile, the RMPI rose 1.8 percent in June, after rising 7.0 percent in May. Of the six major commodity groups, four were up and two were down. The RMPI fell 9.0 percent over the 12-month period ending in June.