The industrial product price index in Canada rose 2% month-over-month in January of 2021, slightly above a preliminary estimate of a 1.9% increase and following an upwardly revised 1.7% increase in December. It was the strongest monthly increase since February 2015. Of the 21 major product groups, 15 were up, 5 were down and 1 was unchanged. Main upward pressure came from prices of lumber and other wood products (+10.8%), as well as energy and petroleum products (+7.9%), primarily as a result of higher prices for refined petroleum products (+8.2%). Costs also increased for chemicals (+3.3%); primary non-ferrous metal products (+1.5%) and meat, fish and dairy products (+1.8%). Year-on-year, producer prices surged 4%, compared to an earlier reading of a 3.8% rise and marking its biggest increase since October of 2018. Higher prices for lumber and other wood products (+61.6%) and primary non-ferrous metal products (+23.4%) were the principal causes of this gain. source: Statistics Canada
Producer Prices in Canada averaged 53.62 points from 1956 until 2021, reaching an all time high of 104 points in January of 2021 and a record low of 13.30 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 March of 2021.
Producer Prices in Canada is expected to be 99.59 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 103.43 in 12 months time. In the long-term, the Canada Producer Prices is projected to trend around 105.50 points in 2022 and 107.61 points in 2023, according to our econometric models.