According to Statistics Canada, prices for products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), edged up 0.1 percent in November. Higher prices for meat, fish and dairy products, for energy and petroleum products, and for motorized and recreational vehicles were mostly offset by lower prices for primary non-ferrous metal products. Prices for raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), were up 1.5 percent, primarily because of higher prices for crude energy products.
The Industrial Product Price Index (IPPI) rose 0.1 percent in November, after posting no change in October. The IPPI excluding energy and petroleum products was unchanged. Of the IPPI's 21 major commodity groups, 8 were up, 9 were down, and 4 were unchanged.
On a year-over-year basis, the IPPI was down 0.4 percent. Downward influences included energy and petroleum products (-2.5 percent), pulp and paper products (-7.8 percent), and chemicals and chemical products (-3.5 percent). Upward price influence came primarily from meat, fish and dairy products (+3.8 percent), and motorized and recreational vehicles (+1.0 percent).
The Raw Materials Price Index (RMPI) was up 1.5 percent in November. The RMPI excluding crude energy products was unchanged. Of the RMPI's six major commodity groups, two were up, one was down and three were unchanged.
On a year-over-year basis, the RMPI was up 9.3 percent. The increase was primarily because of higher prices for conventional crude oil (+25.9 percent).