Canada’s producer prices dropped by 1.4% month-on-month in June, mainly due to lower energy and metal prices

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智通财经2026/07/24 16:41

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Data released by Statistics Canada on Friday showed that the Industrial Product Price Index fell by 1.4% month-on-month in June, with the previous value revised up to a 1.4% increase. Price declines in energy and petroleum products as well as primary non-ferrous metal products were the main drags.
Excluding energy and petroleum products, industrial prices fell only slightly by 0.1%, indicating that core industrial goods prices remained relatively stable. The decline for the month was concentrated in energy-related sectors, reflecting the high volatility of crude oil and metal prices.
Year-on-year, industrial product prices were still up 12.4%, but this was a clear narrowing from the revised 14.3% in May. This shows that upstream price pressures are gradually easing from high levels, although the absolute level remains historically high.
The Raw Materials Price Index plunged 6.9% month-on-month, while the year-on-year increase reached 20.7%, a sharp slowdown from 33.4% in the previous month. Excluding crude oil energy, raw material prices dropped 2.7% month-on-month and rose 18.6% year-on-year.
The sharp fluctuations in raw material prices were mainly affected by the volatility in the international crude oil and metals markets. With the persistent global geopolitical risks, the transmission path of upstream costs remains uncertain. The market will pay attention to whether the July data will pick up again along with the rebound in oil prices.

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Canada’s producer prices dropped by 1.4% month-on-month in June, mainly due to lower energy and metal prices

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