Aug. 29, 2011 – The Industrial Product Price Index declined 0.3 per cent while the Raw Materials Price Index fell 1.2 in July. Statistics Canada reports chemical products and motor vehicles were the largest contributors to the industrial index decline.
Aug. 29, 2011 – The Industrial Product Price Index declined 0.3 per cent
while the Raw Materials Price Index fell 1.2 in July. Statistics Canada
reports chemical products and motor vehicles were the largest
contributors to the industrial index decline, while mineral fuels were
the major factor in the drop in the raw materials index.
The decreases were the third in three months for both indexes.
The industrial index was up 5.1 per cent in July compared with the same month a year earlier, with 14 of 21 major commodity aggregations advancing and six declining.
The raw materials index was up 19.4 per cent from July 2010.
StatsCan blamed the month-to-month contraction in the industrial index on lower prices for chemicals and chemical products (down 2.6 per cent) and motor vehicles and other transportation equipment (down 1.3).
Pulp-and-paper products (down 1.1 per cent) also contributed to the decline from June.
The industrial decline was moderated by upward movements in primary metal products (1.2 per cent) and petroleum and coal products (0.5).
The agency says the monthly drop in the raw materials index was led by mineral fuels (down 2.2 per cent). Vegetable products and wood (both down 2.5) also declined in July.
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