Canada’s Industrial Product Price Index (IPPI) edged up 0.1 percent on a month-over-month basis in August, according to Statistics Canada Friday.
August was the fourth consecutive month of growth. Excluding energy and petroleum products, the IPPI rose by 0.3 percent.
This rise came mostly as a result of growth in prices for primary non-ferrous metal products which have been on the rise since April 2020, and especially as a result of gains in unwrought silver and silver alloys which rose 29.1 percent, as well as unwrought gold and gold alloys which were up 4.7 percent.
Meanwhile, lumber and other wood products increased 1.1 percent, mostly as a result of a continued rise in prices for softwood lumber.
Gains in the IPPI were primarily moderated by lower prices for motorized and recreational vehicles which fell 0.8 percent.
