The industrial price product index for products manufactured in Canada fell by 2.3pc in August from the year before, but rose by 0.3pc from the previous month, according to a Statistics Canada report.
Last month’s increase mainly occurred because primary non-ferrous metals rose by 6.3pc annually. However, motorized and recreational vehicle prices declined by 0.8pc, which offset non-ferrous metals price hike.
StatCan attributed the vehicle price decrease to the price of motor vehicle parts and engines falling by 1.3pc, as well as aircraft prices declining by 2pc, and aircraft parts and engines dropping by 2.1pc in August from July.
Canada’s raw material price index (RMPI) decreased by 7.6pc in August from the same month last year because crude energy product prices plunged by 25pc. However, this was offset by metal ore prices increasing, while concentrates and scraps rose by 18.9pc.
The country’s RMPI rose by 3.2pc on a monthly basis in August, and was mainly led by the prices of metal ores, concentrates and scrap rising by 9.3pc.