According to Statistics Canada, prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), increased 0.6 percent month over month in November and increased 2.2 percent on a yearly basis. Prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), declined 0.5 percent from October to November and fell 2.0 percent year over year in November.
The IPPI was up 0.6 percent month over month in November following a 1.2 percent increase in October.
The IPPI was 2.2 percent higher on a year-over-year basis in November 2024, following a 1.1 increase in the previous month.
In November, the RMPI declined 0.5 percent on a monthly basis after posting a 4.0 increase in October.
The RMPI was up 2.0 percent year over year in November following three months of consecutive decreases. Excluding crude energy products, the RMPI was up 0.6 percent in November 2024.