MNI: 5 Things We Learned From Canadian Industrial Prices Data>

     OTTAWA (MNI) - The following are the key points from the October 

data on the Canadian Industrial Product Price Index released Tuesday by 

Statistics Canada: 

     - The unadjusted Industrial Product Price Index (IPPI) rose 1.0% in 

October after declining 0.3% in September, recording its largest monthly 

gain since May 2016. Year-over-year, the IPPI rose 1.8% after +1.5% the 

previous month. 

     - Excluding energy and petroleum, IPPI was up 0.9%, its largest 

monthly increase since January 2016. Year-over-year, the index rose 0.7% 

after edging up 0.1% in September. 

     - Excluding the impact of the 2.6% depreciation of the Canadian 

dollar against the greenback on average over the month, the IPPI would 

have been up 0.4% instead of 1.0%. 

     - Motor vehicles (+1.5%, the largest gain since January 2016), the 

prices of which are particularly sensitive to the exchange rate, were 

the top contributor to the monthly IPPI rebound. But gains were 

widespread with 18 of 21 commodity groups recording higher prices, 

suggesting a positive contribution to October manufacturing nominal 

sales. 

     - The Raw Materials Price Index (RMPI) rose 3.8% on the month 

(+6.6% year-over-year), with all categories up except forestry products. 

Excluding crude energy (+1.7% on the month), the RMPI was up 1.7% on the 

month and 7.5% year-over-year. 

--MNI Ottawa Bureau; email: yali.ndiaye@marketnews.com 

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