May 28, 2024 12:50 GMT
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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