The Industrial Product Price Index (IPPI) decreased 0.4 per cent in September, mainly because of lower prices for energy and petroleum products, said Statistcis Canada Wednesday. The Raw Materials Price Index (RMPI) declined 1.8 per cent in September, largely as a result of lower prices for crude energy products.
The decrease in the IPPI was led by lower prices for energy and petroleum products, down 1.7 per cent. The decline in this commodity group was mainly due to lower prices for motor gasoline, down 1.2 per cent, light fuel oils, down 3.0 per cent, and diesel fuel, down 2.2 per cent.
Also contributing to the decline in the IPPI in September was primary non-ferrous metal products, down 1.9 per cent.
Canada IPPI and RMPI
Moderating the decrease in the IPPI were higher prices for motorized and recreational vehicles, up 0.6 per cent, said StatsCan Friday.
The IPPI rose 2.5 per cent during the 12-month period ending in September, following a 2.6 per cent gain in August.
The 1.8 decrease in RMPI in September following a 2.2 per cent decrease in August. It was the third consecutive monthly decrease. Of the six major commodity groups, four were down, one was up and one was unchanged.
Crude energy products, down 1.9 per cent, contributed the most to the decline of the RMPI in September, largely as a result of lower prices for conventional crude oil, down 1.8 per cent. This was the third straight monthly decline for crude energy products.
The RMPI decreased 0.9 per cent in the 12-month period ending in September, after declining 0.6 per cent in August.