Canada: Industrial Product Price Index (IPPI) rose 1.4% in November

"Prices for products sold by Canadian manufacturers, as measured by the Industrial Product Price Index (IPPI), increased 1.4% in November, mainly attributable to higher prices for energy and petroleum products," the Statistics Canada announced on Thursday.

Key takeaways

Prices for raw materials purchased by Canadian manufacturers, as measured by the Raw Materials Price Index (RMPI), rose 5.5%, primarily due to higher prices for crude energy products.

The IPPI rose 2.7% over the 12-month period ending in November, following a 1.7% gain in October.

Compared with November 2016, the increase in the IPPI was largely due to higher prices for energy and petroleum products (+18.2%). 

The RMPI rose 14.2% year over year in November, following a 6.6% gain in October.