The prices of both industrial products and raw materials increased in July, according to Statistics Canada data released August 29.
The Industrial Product Price Index increased by 0.3% compared with the previous month, due in large part to higher prices for petroleum and coal products – specifically diesel fuel and gasoline – and motor vehicles and other transport equipment. This is the second consecutive monthly increase of 0.3%.
Other industrial products such as meat, fish and dairy products (up 0.9%) contributed to the increase.
The Raw Materials Price Index jumped 4.2% – a result of higher prices for mineral fuels (up 9.1%), specifically crude oil (up 9.7%). This was the third consecutive monthly increase and represents the largest gain in this measure since April 2011.
Year-over-year, industrial products increased by 1.4%, led by price increases for petroleum and coal products.
Raw materials increased by 7.6% compared with one year previously, due to increased prices for mineral fuels.
