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April Industrial Prices Increase From Precious Metal Investment

CANADA DATA
  • Industrial Product Price Index +1.5% MOM in April after +0.9% in March. The rise was led by non-ferrous and precious metals.
  • IPPI +1.4% YOY, the first increase after 6 consecutive declines as economic and geopolitical uncertainty increased investment demand for precious metals.
  • Raw materials +5.5% MOM as crude oil +6.2%, prior RMPI +4.7%. The April and March figures are the largest increases since March 2022.
  • Raw materials also +3.1% YOY after +0.8% in March, driven by crude oil and precious ores.
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