Canada’s Industrial Product Price Index (IPPI) rose by 16.8pc in June on an annual basis, according to Statistics Canada (StatCan).
The IPPI for primary ferrous metal products grew by 36.2pc in June, annually, and rose by 2.7pc from May. The index for primary non-ferrous metal products increased by 29.4pc in June from the same month last year and fell 0.8pc from the prior month. The fabricated metal products and construction material Index rose by 17.3pc in June from a year ago and inched up by 0.9pc from May.
Canada’s Raw Material Price Index (RMPI) also increased by 38.1pc in June, compared with the same month in 2020, and rose by 3.9pc from May. The RMPI for non-metallic minerals rose 5.5pc in June from last year and was flat on a monthly basis. RMPI for metal ores, concentrates and scraps grew by 26.9pc in June over the same month in 2020 and increased by 1.8pc from May.