Machinery and equipment price indexes
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The Machinery and Equipment Price Index (MEPI) increased by 0.9% in the third quarter compared with the previous quarter. The import component was up by 1.6% over this period, while the domestic component was unchanged.
All industries posted increases in the prices of machinery and equipment purchased in the third quarter. The largest contributor to the total MEPI quarterly increase was manufacturing (+1.2%), led by transportation equipment manufacturing (+1.6%) and primary metal and fabricated product manufacturing (+1.4%) industries. The second largest contributor to the quarterly increase of the total MEPI was transportation, excluding pipeline transportation (+1.1%).
Almost all commodities posted price increases in the third quarter. Among these, construction machinery (+3.2%) and other industry specific machinery (+1.4%) contributed the most to the quarterly increase of the total MEPI.
The Canadian dollar depreciated by 1.3% against the US dollar in the third quarter compared with the previous quarter. Variations in exchange rates can have a strong influence on the MEPI given the high weight that imported machinery and equipment has on the index.
Compared with the third quarter of 2010, the total MEPI decreased by 2.2% in the third quarter, with the import component declining 3.9% while the domestic component increased by 0.7%. The movement in the import component was mainly influenced by the year-over-year change of the Canadian dollar (+6.0%).
Note: This release presents data that are not seasonally adjusted and the indexes published are subject to a four-quarter revision period after dissemination of a given quarter's data.
Available on CANSIM: tables 327-0041 and 327-0042.
Definitions, data sources and methods: survey number 2312.
The third quarter 2011 issue of Capital Expenditure Price Statistics (62-007-X, free) will be available in January 2012.
The machinery and equipment price indexes for the fourth quarter will be released on February 23, 2012.
For more information, or to enquire about the concepts, methods or data quality of this release, contact the Client Services (toll-free 1-888-951-4550; 613-951-4550; fax: 1-855-314-8765 or 613-951-3117; email@example.com), Producer Prices Division.
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