April 8, 2011 – In February, the Industrial Product Price Index (IPPI) increased 0.7 per cent, led mainly by petroleum and coal products and primary metal products. The upward trend continued since mid-2010. Higher prices for petroleum and coal products in February were in part influenced by reduced production.
In February, all primary metal products sub-groups were up, particularly
precious metals, nickel, and copper and copper alloy products. The IPPI advance was moderated slightly by a 0.4 per cent decline in
prices for motor vehicles and other transportation equipment. The
decrease was due mostly to a 0.6 per cent appreciation in the Canadian dollar
relative to the US dollar.
In February, excluding petroleum and coal products, the IPPI would have increased by 0.5 per cent.
Since February 2010, the IPPI rose 3.4 per cent, mainly a result of
higher prices for petroleum and coal products (+16 per cent), primary metal
products (+15.6 per cent) and, to a lesser extent, fruits, vegetable, feeds and
other food products (+5.0 per cent).
The 7 per cent year-over-year appreciation of the Canadian dollar
relative to the US dollar dampened the IPPI advance in February.
The Raw Materials Price Index (RMPI) in February rose 1.8 per cent relative to January 2010,
primarily because of higher prices for non-ferrous metals (+4.5 per cent),
animals and animal products (+3.4 per cent) and vegetable products (+4.7 per cent). Excluding mineral fuels, the RMPI would have increased 3.3 per cent in
February, which is slightly faster than the 3.0 per cent growth observed in
January.
Compared with the same month a year earlier, the RMPI was
up 11.0 per cent in February, following a 9.6 per cent gain in January. Year over year,
the RMPI has been on an upward trend since November 2009.
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