Industrial Product Price Index: Flash estimates, November 2021
Archived Content
Information identified as archived is provided for reference, research or recordkeeping purposes. It is not subject to the Government of Canada Web Standards and has not been altered or updated since it was archived. Please "contact us" to request a format other than those available.
Released: 2021-12-14
According to flash estimates, the Industrial Product Price Index (IPPI) increased 0.8% month over month in November. Year over year, the index was up 18.3%.
Prices for ammonia and chemical fertilizers were up 10.5%, a seventh consecutive monthly increase. Compared with November 2020, ammonia and chemical fertilizers prices increased 136.6%. This rise was attributable to tight global supply and high input costs for fertilizers. Prices for petrochemicals (+5.0%) also increased month over month in November.
Fruit, vegetables, feed and other food products increased 2.1% month over month, mostly due to higher prices for grain and oilseed products, n.e.c. (+7.3%).
Softwood lumber rose 5.3% in November, after an increase of 13.3% in October. Year over year, prices for softwood lumber were up 21.8%. This was the first year-over-year increase since July 2021 (+47.9%).
Several key metal categories posted higher prices month over month in November, including basic and semi-finished iron or steel products (+1.5%), as well as unwrought gold, silver, and platinum group metals, and their alloys (+3.9%). In contrast, unwrought aluminum and aluminum alloys (-8.5%) posted their first monthly decline since April 2021.
Prices for motorized and recreational vehicles were up 0.6% from the previous month. This increase was mostly due to higher prices for motor vehicle engines and motor vehicle parts (+1.3%), which were partially influenced by the depreciation of the Canadian dollar against the US dollar in November.
Prices for energy and petroleum products fell 0.7% in November, following a 7.4% gain in October. The decline was partially attributable to lower prices for crude oil. Excluding energy and petroleum products, the IPPI was up 1.0% month over month.
Chart 1
Industrial Product Price Index (January 2018 to November 2021)
Note to readers
Statistics Canada is releasing early estimates of the Industrial Product Price Index (IPPI) for November 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 January 4, 2022. As the flash estimates are calculated using preliminary data, these values should be used with caution.
The end of IPPI flash estimates
The IPPI flash estimates, which have been published since March 2020, will no longer be released as of January 2022. This publication of the November 2021 reference month data will be the last release.
The monthly release of the industrial product and raw materials price indexes will soon be published on an earlier schedule, effective with the release of February 2022 data on March 22, 2022.
Products
The product "Industrial Product Price Index: Annual review, 2020" is now available as part of the Prices Analytical Series (62F0014M).
Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).
- Date modified: