Producer prices in Canada advanced 0.8% month-over-month in April of 2022, easing from a downwardly revised, 42-year high, 3.4% jump in the prior month but above market estimates of a 0.5% rise. It was the eighth consecutive monthly increase, with main upward pressure coming from energy and petroleum products (5.2%), largely due to surging prices for jet fuel (50.5%) because of record-low inventory levels in the US during the month. Producer costs also rose for primary ferrous metals (3.3%), driven by lower steel production in China amid their strict Covid lockdowns. A steeper rise in the IPPI was capped by lower prices for lumber and other wood products (-8.2%), driven by softwood lumber (-13.7%), possibly due to higher mortgage rates in the US. Year-over-year, the IPPI rose by 16.4%, easing from the downwardly revised 17.9% in the prior month. source: Statistics Canada
Producer Price Inflation MoM in Canada averaged 0.29 percent from 1956 until 2022, reaching an all time high of 3.80 percent in January of 1980 and a record low of -2.90 percent in November of 2008. This page includes a chart with historical data for Canada Producer Price Inflation MoM. Canada Producer Price Inflation MoM - data, historical chart, forecasts and calendar of releases - was last updated on May of 2022.
Producer Price Inflation MoM in Canada is expected to be 4.00 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations.