According to Statistics Canada, prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), fell 0.2 percent month-over-month in April, and were 3.5 percent lower than April 2022. Prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), rose 2.9 percent on a monthly basis in April 2023 and fell 10.8 percent year over year.
In April, the IPPI fell 0.2 percent month over month and decreased 3.5 percent on a year-over-year basis. Prices for energy and petroleum products fell 2.1 percent in April compared with March 2023, a third consecutive monthly decline.
In April, the RMPI rose 2.9 percent on a monthly basis and fell 10.8 percent year-over-year. Prices for crude energy products increased 4.4 percent in April, mainly on higher prices for conventional crude oil (+5.3 percent).