Canada’s Industrial Product Price Index (IPPI) declined 0.2 per cent in December, said Statistics Canada January 29. The Raw Materials Price Index (RMPI) fell 5.0 per cent. The IPPI (-0.2 per cent) fell for the fifth consecutive month in December and has declined 1.7 per cent since July 2015. The main reason for the decline in the IPPI in December was energy and petroleum products (-5.4 per cent).
The IPPI rose 1.1 per cent over the 12-month period ending in December, its largest gain since November 2014.
The RMPI declined 5 per cent in December, after falling 4.1 per cent in November. The main reason for the decline in the RMPI were lower prices for crude energy products (-11.9 per cent). The RMPI excluding crude energy products fell 0.4 per cent.
In the US, the ISM manufacturing index indicated contraction in January, said the Institute for Supply Management Monday. The PMI was at 48.2 per cent in January, up from 48 per cent in December. The new orders index was at 51.5 per cent, up from 48.8 per cent.