The industrial product price index in Canada rose 0.4 percent over a month earlier in June 2020, following a 1.2 percent increase in the previous month but slightly below market forecast of a 0.5 percent gain. The growth in the industrial product price index was mainly due to energy & petroleum products (15 percent), namely refined petroleum energy, and biofuels (+19.1 percent) influenced by higher prices for crude oil. Excluding energy & petroleum products, the IPPI fell 1 percent mostly due to meat, fish, and dairy products (-3.4 percent); motorized & recreational vehicles (-1.4 percent); electrical & telecommunication products (-1.1 percent); and pulp & paper (-1.1 percent). Year over year, producer prices went down 3.1 percent, after declining 4.9 percent in the prior month.
Producer Prices in Canada averaged 62.63 points from 1956 until 2020, reaching an all time high of 119.70 points in June of 2018 and a record low of 15.60 points in February of 1956. This page provides the latest reported value for - Canada Producer Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Canada Producer Prices - data, historical chart, forecasts and calendar of releases - was last updated on August of 2020. source: Statistics Canada
Producer Prices in Canada is expected to be 118.22 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices in Canada to stand at 115.08 in 12 months time. In the long-term, the Canada Producer Prices is projected to trend around 120.76 points in 2021 and 123.18 points in 2022, according to our econometric models.