Industrial producer prices in Canada unexpectedly edged down by 0.2% over a month in April of 2023, compared with market expectations of a 0.2% increase and following a revised 0.1% fall in the prior month. It marks the third consecutive month of producer deflation, mainly due to lower prices for refined petroleum energy products (-2.1%), namely diesel fuel (-8.7%), jet fuel (-7.5%) and light fuel oils (-10.2%). Additional downward pressure came from softwood lumber (-4.7%), partially attributable to cooling housing markets in the US and Canada amidst rising interest rates; and chemicals and chemical products (-1%), of which ammonia and chemical fertilizers (-9.3%), amid lower prices for natural gas. Conversely, the IPPI increased for non-ferrous metal products (+1.8%) and meat products (+2%). On a yearly basis, producer prices slipped by 3.5% in April, the most since May 2020, after an upwardly revised 2.2% decline in the prior month and compared with market forecasts of a 5.6% slump. source: Statistics Canada

Producer Price Inflation MoM in Canada averaged 0.28 percent from 1956 until 2023, reaching an all time high of 3.80 percent in January of 1980 and a record low of -2.90 percent in November of 2008. This page includes a chart with historical data for Canada Producer Price Inflation MoM. Canada Producer Price Inflation MoM - data, historical chart, forecasts and calendar of releases - was last updated on June of 2023.

Producer Price Inflation MoM in Canada is expected to be 0.20 percent by the end of this quarter, according to Trading Economics global macro models and analysts expectations. In the long-term, the Canada Producer Price Inflation MoM is projected to trend around 0.20 percent in 2024 and 0.50 percent in 2025, according to our econometric models.

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Canada Producer Price Inflation MoM



Calendar GMT Actual Previous Consensus TEForecast
2023-04-19 12:30 PM Mar 0.1% -0.6% 1.6% 0.3%
2023-05-23 12:30 PM Apr -0.2% -0.1% 0.2% 0.3%
2023-06-19 12:30 PM May -0.2% 0.2%


Related Last Previous Unit Reference
Inflation Rate 4.40 4.30 percent Apr 2023
Inflation Rate MoM 0.70 0.50 percent Apr 2023
Consumer Price Index CPI 156.40 155.30 points Apr 2023
Core Inflation Rate 4.10 4.30 percent Apr 2023
Core Consumer Prices 152.10 151.30 points Apr 2023
Producer Prices 125.90 126.20 points Apr 2023
Producer Prices Change -3.50 -2.20 percent Apr 2023
Export Prices 143.70 143.50 points Apr 2023
Import Prices 150.90 150.50 points Apr 2023
Wholesale Prices 143.60 139.50 points Apr 2023

Canada Producer Price Inflation MoM
In Canada, the Producer Price Inflation MoM measures a month-over-month change in the price of goods and services sold by manufacturers and producers in the wholesale market.
Actual Previous Highest Lowest Dates Unit Frequency
-0.20 -0.10 3.80 -2.90 1956 - 2023 percent Monthly
NSA

News Stream
Canadian Industrial Prices Fall for 3rd Month
Industrial producer prices in Canada unexpectedly edged down by 0.2% over a month in April of 2023, compared with market expectations of a 0.2% increase and following a revised 0.1% fall in the prior month. It marks the third consecutive month of producer deflation, mainly due to lower prices for refined petroleum energy products (-2.1%), namely diesel fuel (-8.7%), jet fuel (-7.5%) and light fuel oils (-10.2%). Additional downward pressure came from softwood lumber (-4.7%), partially attributable to cooling housing markets in the US and Canada amidst rising interest rates; and chemicals and chemical products (-1%), of which ammonia and chemical fertilizers (-9.3%), amid lower prices for natural gas. Conversely, the IPPI increased for non-ferrous metal products (+1.8%) and meat products (+2%). On a yearly basis, producer prices slipped by 3.5% in April, the most since May 2020, after an upwardly revised 2.2% decline in the prior month and compared with market forecasts of a 5.6% slump.
2023-05-23
Canadian Industrial Prices Rise Less than Expected
Industrial producer prices in Canada edged 0.1% higher month-over-month in March of 2023, well below market expectations of a 1.6% increase and compared to the downwardly revised 0.6% drop in the previous month. Cost increased sharply for primary ferrous metals (4.3%), as several North American steel mills raised prices in the latter part of the month. The IPPI also grew for machinery and equipment (1%) and electrical, electronic, and audiovisual products (0.8%). On the other hand, prices fell for energy and petroleum products (-2.7%), as the lower cost of diesel (-5.1%) outweighed the increase in gasoline (3.6%). Producer costs also fell for lumber and other wood products (-3.5%), largely due to the decline for softwood lumber (-8.1%) as higher interest rates by the BoC and the Fed pressure housing demand. On a yearly basis, producer prices sank by 1.8%, the first decline since July 2020.
2023-04-19
Canada Producer Prices Drop in February
Industrial producer prices in Canada fell by 0.8% month-over-month in February 2023, following a downwardly revised 0.3% increase in the prior month. Manufacturers’ costs declined mostly for energy and petroleum products (-5.8%), of which diesel (-11.7%) and finished motor gasoline (-2.9%); and primary non-ferrous metal products (-2.4%), with all three types of precious metals moving downward. Conversely, those for primary ferrous metal products (+1.7%) were up month over month for the first time since June 2022, mainly on higher prices for basic and semi-finished iron or steel products (+1.7%). Prices also increased for softwood lumber (+7.4%) and meat, fish and dairy products (+1.1%). On a yearly basis, producer price inflation eased to an over two-year low of 1.4% in February, after a downwardly revised 5% in the prior month.
2023-03-17