Canada’s Industrial Product Price Index (IPPI) rose by 15.4pc in July from the same month last year while it dropped by 0.4pc from June this year, according to Statistics Canada (StatCan).
IPPI for primary ferrous metal products grew by 49.8pc in July annually while it rose by 5.9pc from June. IPPI for primary non-ferrous metal products was up by 23.3pc in July from the same month last year and increased by 1.8pc from June this year. IPPI for fabricated metal products rose by 22.6pc in July from the previous year while it rose by 4.4pc from June this year.
The country’s IPPI for motorized and recreational vehicles saw a 1.6pc drop in July from the same year-ago month and inched up by 0.8pc from June this year. IPPI for machinery and equipment saw a 1.5pc hike in July annually and rose by 1pc from the previous month, StatCan reported.
Canada’s Raw Material Price Index (RMPI) also increased by 37.7pc in July from last year and grew by 2.2pc from June this year.
RMPI for non-metallic minerals increased by 6pc in July from July 2020 and inched up by 0.8pc from June this year. RMPI for metal ores concentrates, and scrap saw a 21.5pc increase in July annually and saw a 0.2pc growth from June this year, StatCan stated.