According to Statistics Canada, prices for products manufactured in Canada rose 0.2 percent in August. Prices for raw materials purchased by manufacturers operating in Canada fell 1.8 percent, mainly as a result of lower prices for crude energy products.
On a monthly basis, the Industrial Product Price Index (IPPI) increased 0.2 percent in August, after falling 0.3 percent the previous month. From July to August, the Canadian dollar depreciated 1.3 percent relative to the US dollar. If the exchange rate had remained constant, the IPPI would have edged down 0.1 percent. Of the 21 major commodity groups, 14 were up, 5 were down and 2 were unchanged.
On a monthly basis, the Raw Materials Price Index (RMPI) fell 1.8 percent in August, following a 1.3 percent increase in July. Of the six major commodity groups, three were down, two were up and one was unchanged.
Compared with August 2018, the RMPI fell 6.0 percent, after posting an 8.9 percent decrease in July. The decline was primarily due to crude energy products (-14.5 percent).