MNI BRIEF: Canada Jan Ivey Price Index Hits Record High

Canada's Ivey purchasing managers price index climbed to a record high in January, more evidence that Covid-19 lockdowns and re-openings are interfering with supply chains and leading to lopsided demand.

The seasonally adjusted price index rose to 82.8 in January from 66.9 in December, overtaking the prior high of 81.5 in July 2008. The data goes back to the year 2000.

The overall index compiled by Western University's business school remained below 50 for a second month, with the reading of 48.4 signaling reduced activity. The survey's chief told MNI last month that prices were rising because of difficulties moving goods domestically and from abroad, and overall activity may remain low for much of this year.