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CANADA DATA: North American Housing Slowdown Hits Canada Softwood Lumber Prices

CANADA DATA
  • Canada's Industrial Product Price Index was unchanged MOM in July after -0.1% in June, held back as softwood lumber -7.8%, the biggest decline since Sept 2022 and the fourth straight decline.
  • Energy and petroleum products +2.0%. Excluding energy and petroleum products, the IPPI declined 0.2%. 
  • IPPI +2.9% YOY led by strong precious metal prices amid global economic and geopolitical uncertainty.  
  • StatsCan's Raw Materials Price Index was +0.7 % MOM driven by crude oil. Index +4.1% YOY for the fifth straight increase, boosted by precious metals. 
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  • Canada's Industrial Product Price Index was unchanged MOM in July after -0.1% in June, held back as softwood lumber -7.8%, the biggest decline since Sept 2022 and the fourth straight decline.
  • Energy and petroleum products +2.0%. Excluding energy and petroleum products, the IPPI declined 0.2%. 
  • IPPI +2.9% YOY led by strong precious metal prices amid global economic and geopolitical uncertainty.  
  • StatsCan's Raw Materials Price Index was +0.7 % MOM driven by crude oil. Index +4.1% YOY for the fifth straight increase, boosted by precious metals.