According to Statistics Canada, prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), fell 1.0 percent month over month in October, following a rise of 0.4 percent in September. Excluding energy and petroleum products, the IPPI decreased 0.3 percent. The IPPI decreased 2.7 percent year over year in October.
Prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), declined 2.5 percent on a monthly basis in October 2023 and fell 0.8 percent year over year. In October, the RMPI fell 2.5 percent on a monthly basis.
Prices for metal ores, concentrates and scrap declined 1.6 percent in October, mainly on lower prices for nickel ores and concentrates (-5.7 percent), as well as gold, silver, and platinum group metal ores and concentrates (-2.1 percent).