Industrial Product Price Index: Flash estimates, September 2021
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Released: 2021-10-15
According to flash estimates, the Industrial Product Price Index (IPPI) increased 1.0% month over month in September. Year over year, the index was up 15.0%.
Energy and petroleum products (+3.3%) led the upward month-over-month movement in the IPPI. The increase was mostly due to higher prices for refined petroleum energy products (+3.7%). The increase in this group was partially attributable to higher prices for crude oil. The IPPI excluding energy and petroleum products rose 0.6%. Year over year, energy and petroleum products were up 60.6%.
The chemicals and chemical products group (+2.9%) was the second largest contributor to the monthly growth in the IPPI. The increase was mainly due to higher prices for petrochemicals (+10.7%) as well as ammonia and chemical fertilizers (+10.7%).
Prices for motorized and recreational vehicles were up 0.8%, mostly attributable to higher prices for boats and other transportation equipment (+6.2%) and aircraft (+3.5%).
Fabricated metal products and construction materials (+3.3%) and primary ferrous metal products (+1.8%) also rose compared with August. For the former, the monthly increase was mostly attributable to higher prices of metal building and construction materials (+5.0%). The increase in primary ferrous metal products was mainly supported by higher prices for basic and semi-finished iron or steel products (+1.7%). The gain in both groups was partially attributable to production restrictions at steel mills in China.
Prices for lumber and other wood products fell 2.5%, moderating the monthly increase in the IPPI. Prices for this commodity group have been declining for four consecutive months. The decrease was mostly due to lower prices for softwood lumber (-2.5%).
Chart 1
Industrial Product Price Index (January 2018 to September 2021)
Note to readers
Statistics Canada is releasing early estimates of the Industrial Product Price Index (IPPI) for September 2021 to provide Canadians with timely economic data. These are referred to as flash estimates and are subject to revision when the index is officially released on October 29, 2021. As the flash estimates are calculated using preliminary data, these values should be used with caution.
Products
The product "Industrial Product Price Index: Annual review, 2020" is now available as part of the Prices Analytical Series (62F0014M).
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