The industrial product price index in Canada fell 0.4% month over month in July 2021, compared to initial estimates of a flat reading and market consensus of a 0.1% increase. Among the 21 major commodity groups, 17 were up, 3 were down, and 1 was unchanged. Lumber and other wood products declined 23%, primarily driven by a 37.7% drop in prices for softwood lumber, the biggest monthly decline on record for this product group. Prices for basic and semi-finished iron or steel products were up 5.9% in July, an 11th consecutive monthly increase; and prices of the energy and petroleum products commodity group rose 3.1%. Year over year, the IPPI rose 15.4% in July, a 12th consecutive advance, following a 17.2% increase in June. This was mostly driven by higher prices for energy and petroleum products (+46.9%), primary ferrous metal products (+49.8%), as well as lumber and other wood products (+39.1%) compared with July 2020. source: Statistics Canada
Producer Prices in Canada averaged 54.07 points from 1956 until 2021, reaching an all time high of 115.20 points in July 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 September of 2021.
Producer Prices in Canada is expected to be 111.69 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Producer Prices is projected to trend around 112.99 points in 2022 and 115.25 points in 2023, according to our econometric models.