August 2024 Price Indexes Report
August 2024 Price Indexes Report
Industrial Product Price Index (IPPI)
- The IPPI decreased by 0.8% in August 2024 compared to July 2024.
- Year-over-year, the IPPI increased by 0.2%.
- The decline was mainly due to lower prices for energy and petroleum products, which fell by 5.0%.
- Excluding energy and petroleum products, the IPPI decreased by 0.2%.
- Prices for primary non-ferrous metal products fell by 1.6% month-over-month.
- Notable year-over-year price increases included unwrought gold, silver, and platinum group metals (+24.0%), unwrought aluminum and aluminum alloys (+33.2%), and petrochemicals (+12.2%).
- Year-over-year price decreases were observed for diesel fuel (-17.1%), finished motor gasoline (-11.8%), and grain and oilseed products (-26.9%).
Raw Materials Price Index (RMPI)
- The RMPI declined by 3.1% in August 2024 compared to July 2024.
- Year-over-year, the RMPI decreased by 2.5%.
- The monthly decline was led by lower prices for crude energy products, which fell by 5.0%.
- Excluding crude energy products, the RMPI fell by 1.8%.
- Prices for crop products fell by 6.1% in August 2024, driven by lower prices for canola (-8.9%).
- Prices for metal ores, concentrates, and scrap decreased by 2.3% from July to August.
- Year-over-year price decreases were noted for conventional crude oil (-5.9%) and synthetic crude oil (-8.5%).
- Notable year-over-year price increases included gold, silver, and platinum group metal ores and concentrates (+25.9%) and cattle and calves (+11.2%).
Additional Information
- The next release for the industrial product and raw materials price indexes will be on October 22, 2024.
Source: Statistics Canada Prices Feed.