The industrial product price index in Canada increased 1.2 percent month-over-month in May of 2020, after falling 2.3 percent in the previous month which was the largest decrease since December of 2008. It is the first rise in producer prices so far this year, in line with market forecasts, driven mainly by higher prices for meat, fish and dairy products (8.3 percent) as well as energy and petroleum products (4.6 percent), namely motor gasoline (36.8 percent). Year over year, producer prices fell 4.9 percent in May, following a 6 percent drop in April, pulled downward primarily by lower prices for energy and petroleum products (-43 percent). Prices for meat, fish and dairy products (10.7 percent) were the main factor moderating the decline.
Producer Prices in Canada averaged 62.56 points from 1956 until 2020, reaching an all time high of 119.70 points in June of 2018 and a record low of 15.60 points in February of 1956. This page provides the latest reported value for - Canada Producer Prices - plus previous releases, historical high and low, short-term forecast and long-term prediction, economic calendar, survey consensus and news. Canada Producer Prices - data, historical chart, forecasts and calendar of releases - was last updated on July of 2020. source: Statistics Canada
Producer Prices in Canada is expected to be 118.22 points by the end of this quarter, according to Trading Economics global macro models and analysts expectations. Looking forward, we estimate Producer Prices in Canada to stand at 115.08 in 12 months time. In the long-term, the Canada Producer Prices is projected to trend around 120.76 points in 2021 and 123.18 points in 2022, according to our econometric models.