According to Statistics
Canada, the Industrial Product Price Index (IPPI) declined 0.3 percent in August after increasing 0.7 percent in July. Among the 21 major commodity groups, the declines were isolated as 2 groups were down, 17 were up and 2 were unchanged.
Largely moderating the decline in the IPPI were higher prices for motorized and recreational vehicles (1.4 percent). The gain was led by increases in passenger cars and light trucks (1.1 percent), motor vehicle engines and motor vehicle parts (1.2 percent) as well as aircraft (2.2 percent). Higher prices for motorized and recreational vehicles were closely linked to the depreciation of the Canadian dollar relative to the US dollar.
The Raw Materials Price Index (RMPI) declined 6.6 percent in August, the largest drop since January 2015. Of the six commodity groups, two were up and four were down.
Contributing to the decline in the RMPI were lower prices for metal ores, concentrates and scrap ( down 2.4 percent).