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 other wood products.
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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