The 2020 Mid-Year Economic Update_long

Canada Prices Up 1.3% in March


Prices for petroleum and primary metal products caused prices for manufactured goods to surge in March. Raw material prices were pushed up mainly by prices for non-ferrous metals.

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From February to March, prices charged by manufacturers, as measured by the Industrial Product Price Index (IPPI), registered a fifth consecutive monthly increase. The&nbsp ; 1.3% rise in the index mainly reflected the strength of prices for petroleum and coal products and primary metal products.
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On a 12-month basis, the IPPI rose by&nbsp ; 4.8%, the strongest advance since October&nbsp ; 2004. The upward pressure came largely from higher prices for primary metal products and petroleum and coal products. The upward movement was tempered by a drop in prices for lumber and ...

Prices for petroleum and primary metal products caused prices for manufactured goods to surge in March. Raw material prices were pushed up mainly by prices for non-ferrous metals.

&nbsp ;
From February to March, prices charged by manufacturers, as measured by the Industrial Product Price Index (IPPI), registered a fifth consecutive monthly increase. The&nbsp ; 1.3% rise in the index mainly reflected the strength of prices for petroleum and coal products and primary metal products.
&nbsp ;
On a 12-month basis, the IPPI rose by&nbsp ; 4.8%, the strongest advance since October&nbsp ; 2004. The upward pressure came largely from higher prices for primary metal products and petroleum and coal products. The upward movement was tempered by a drop in prices for lumber and other wood products.
&nbsp ;
From February to March, the Raw Materials Price Index (RMPI) rose&nbsp ; 1.3%, down from the&nbsp ; 2.5% increase observed in February. The monthly increase in the index was mainly attributable to non-ferrous metals. All raw material groups posted gains, except for vegetable products and non-metallic minerals.
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Compared to March of last year, raw materials cost plants&nbsp ; 9.7% more, a rate of increase greater than those posted in January and February. The rise in the index was mainly led by non-ferrous metals and was slowed by mineral fuels.
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In March, the IPPI was&nbsp ; 117.9&nbsp ; (1997=100), up from February’s level of&nbsp ; 116.4. The RMPI was&nbsp ; 167.2&nbsp ; (1997=100), up from February’s revised level of&nbsp ; 165.0.

Release taken from Statistics Canada

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