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Canada: Industrial Product Price Index (IPPI), rose 1.0% in October

"Prices for products sold by Canadian manufacturers, as measured by the Industrial Product Price Index (IPPI), rose 1.0% in October, mainly due to higher prices for motorized and recreational vehicles," the Statistics Canada announced on Tuesday.

Key highlights

Prices for raw materials purchased by Canadian manufacturers, as measured by the Raw Materials Price Index (RMPI), increased 3.8%, primarily due to higher prices for crude energy products.

The IPPI increased 1.0% in October, following a 0.3% decrease in September.

Of the 21 major commodity groups, 18 were up, 1 was down and 2 were unchanged.

Higher prices for energy and petroleum products (+1.5%) also contributed significantly to the increase in the IPPI.

The increase in the IPPI was moderated by lower prices for meat, fish and dairy products (-0.7%). 

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