Canada Producer Prices

The industrial product price in Canada went up 1 percent month over month in September of 2021, in line with preliminary estimates and following a 0.3 percent drop in August. Prices of petroleum products increased the most (3.8 percent), mostly due to diesel and biodiesel fuels (7.7 percent), light fuels (8.1 percent), and aviation fuel (5.4 percent). Also, costs rose for chemicals and chemical products (1.8 percent), namely chemical fertilizers (10.7 percent) and petrochemicals (4 percent) and primary ferrous metals (1.7 percent) in particular semi-finished iron or steel (1.7 percent). In contrast, cost declined for lumber and other wood products (-1.3 percent), namely veneer and plywood (-10.3 percent) and softwood lumber (-0.7 percent). On a yearly basis, the IPPI edged up to 14.9 percent from 14.7 percent in August, slightly lower than the preliminary estimate of 15 percent.