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Industrial And Raw Material Prices Stall After 4 Prior Gains

CANADA DATA
  • On a monthly basis the IPPI index was unchanged after four previous increases.
  • Lower prices for energy and petroleum (-3.9%) and lumber and other wood products (-4.9%) were largely offset by increases for primary non-ferrous metal products (+4.3%). 
  • Weaker U.S. home-building demand amid high mortgage rates helped push down Canadian softwood lumber prices by 10.2% MOM, the most since June 2022.
  • The 1.8% YOY gain in StatsCan's industrial price index is the fastest since Jan 2023, but back then the gain was much faster at 4.8%.
  • StatsCan's raw-material price index was -1.0% MOM after four previous increases.
  • Index was +7.6% YOY in May. While faster than April's +2.9% the increase is largely driven by a base effect.
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

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