Canada: Industrial Product Price Index (IPPI) increased by 0.3% in February

"Prices for products manufactured in Canada rose 0.3% in February, mainly due to higher prices for energy and petroleum products," Statistics Canada reported on Friday.

Key takeaways from the press release

• Prices for raw materials purchased by manufacturers operating in Canada increased 4.6%, primarily due to higher prices for crude energy products.
  • The increase in the RMPI in February was primarily due to higher prices for crude energy products (+9.3%).
• From January to February, the Canadian dollar appreciated 0.7% relative to the US dollar.
  • If the exchange rate had remained constant, the IPPI would have increased 0.5% instead of 0.3%.