The price of raw materials dropped while industrial product prices rose slightly in November, according to Statistics Canada data released January 6.
StatsCan’s Raw Materials Price Index fell 4.1% from October – the third consecutive monthly drop and the largest decrease since June 2012 – due in large part to falling crude energy products prices. Prices of animals and animal products were down 1.8%, which crop products pricing increased 0.1%.
The Industrial Product Price Index increased 0.1% compared with the previous month. Higher prices for motorized and recreational vehicles, up 0.7%, led the way. All categories saw increases except for meat, fish and dairy products (down 0.6%) and primary non-ferrous metal products (down 0.7%).
Year-over-year, raw materials prices were down 2.5%, due in large part to lower prices for metal ores, concentrates and scrap, down 9.1%. Crop products were down 11.1%, driven mostly by decreased grains prices, in particular corn, down 39.2%.
Industrial products pricing grew by 0.3% compared with one year previously, reflecting higher energy and petroleum product prices, up 3.3%.
