Canada's IPPI, RMPI down in August

2021-09-29 22:05:52 GMT2021-09-30 06:05:52(Beijing Time) Xinhua English

OTTAWA, Sept. 29 (Xinhua) -- Both Industrial Product Price Index (IPPI) and Raw Materials Price Index (RMPI) fell in Canada in August, according to Statistics Canada on Wednesday.

The IPPI decreased 0.3 percent month over month in August but was up 14.3 percent from August 2020. Of 21 major commodity groups, 16 were up and five were down.

Statistics Canada attributed the IPPI decrease to lower prices for lumber and other wood products which plunged 14.2 percent.

The IPPI was up 14.3 percent year over year in August, following a 15.7 percent increase in July.

Prices for refined petroleum energy products, including liquid biofuels, surged 50.1 percent, basic and semi-finished iron or steel products shot up 66.6 percent, and petrochemicals were up 84.3 percent.

The RMPI fell 2.4 percent month over month in August, its first decrease since September 2020. Of six major commodity groups, four were up and two were down.

Compared with July, the RMPI decrease was mainly due to lower prices for crude energy products which fell 5.8 percent, particularly conventional crude oil which fell 6.2 percent, posting its largest decline since September 2020.

Year over year, the RMPI jumped 27.7 percent, driven up mainly by prices for conventional crude oil, canola and hogs. Enditem