According to Statistics Canada, prices for products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), edged down 0.1 percent in September, led by lower prices for energy and petroleum products. Prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), fell 2.2 percent, pulled downward mainly by lower prices for crude energy products.
The IPPI edged down 0.1 percent in September, following four consecutive monthly increases. Of the 21 major product groups, 9 were down, 10 were up, and 2 were unchanged.
Year over year, the IPPI (-2.2 percent) decreased for an eighth consecutive month in September, primarily as a result of lower prices for energy and petroleum products (-28.2 percent).
The RMPI fell 2.2 percent in September, following four consecutive months of increase. The RMPI excluding crude energy products was up 0.3 percent. Of the six major product groups, three were down and three were up.
Compared with September 2019, the RMPI fell 9.4 percent. Prices for crude energy products (-31.8 percent) were the key contributor to this decline.