Producer Prices in Canada Rise 0.4% in September
Energy and Automotive Sectors Drive Price Increase
Producer prices in Canada experienced a 0.4% growth in September compared to August, as reported by Statistics Canada. This rise can be attributed to higher prices in the energy and petroleum sectors, as well as increased costs in the production of motorized and recreational vehicles. Additionally, the depreciation of the Canadian dollar played a role in the price movements.
Continued Growth Following August Increase
The September increase follows an upwardly revised 1.9% growth in August. Furthermore, raw materials prices saw a significant surge, rising by 3.5% in September and 2.4% year-on-year.
Industrial Product Prices
Month-on-month and year-on-year percentage changes for industrial product prices are as follows:
- Total: +0.4% (Sep), +1.9% (Aug, revised), +1.3% (Aug, previous)
- Excluding energy/petrol: 0.0% (Sep), +0.6% (Aug, revised), +0.2% (Aug, previous)
Raw Materials Price Index
Month-on-month and year-on-year percentage changes for the raw materials price index are as follows:
- Total: +3.5% (Sep), +3.0% (Aug, revised), +3.0% (Aug, previous)
- Excluding crude energy: -0.2% (Sep), +0.4% (Aug, revised), +0.2% (Aug, previous)
Please note that these figures exclude any influence from crude energy prices.
It is important to understand the impact of these price movements on various sectors of the Canadian economy. The rise in producer prices can have implications for businesses, consumers, and policymakers alike. As the economy continues to evolve, it is crucial to monitor and analyze these trends to make informed decisions.
