The Industrial Product Price Index (IPPI) was down 0.5 per cent in May, mainly due to lower prices for energy and petroleum products, said Statistics Canada Friday. The Raw Materials Price Index (RMPI) declined 0.4 per cent, after edging up 0.1 per cent in April, mostly as a result of lower prices for animals and animal products.
Producer and Raw Materials Prices, Canada
The IPPI declined 0.5 per cent in May, following a 0.2 per cent decrease in April, said StatsCan. Of the 21 major product groups, 3 were up, 12 were down and 6 were unchanged.
The decrease of the IPPI was mainly attributable to lower prices for energy and petroleum products, down 1.3 per cent. Diesel fuel, down 3.2 per cent, light fuel oils, down 3.1 per cent, and motor gasoline, down 0.4 per cent were the main reasons for the decline in this commodity group.
Meanwhile, the RMPI decreased for the first tome since November 2013. Of the six major commodity groups, three were down and three were up.
The decline of the RMPI was largely driven by lower prices for animals and animal products (-2.9%), down for the first time since December 2013. Lower prices for hogs (-9.1%) largely explained the decrease in this commodity group. To a lesser degree, fish, shellfish and other fishery products (-10.5%) also contributed to the decline in the animals and animal products group.
Logs, pulpwood, natural rubber and other forestry products (-0.6%) also pulled the RMPI downward, as prices for natural rubber (-6.1%) declined for a second consecutive month.