Canada: Industrial Product Price Index (IPPI) rose 0.5% in June

"Prices for products sold by Canadian manufacturers, as measured by the Industrial Product Price Index (IPPI), rose 0.5% in June, primarily as a result of higher prices for primary non-ferrous metal products and motorized and recreational vehicles," Statistics Canada reported.

Key takeaways from the official publication

• The IPPI (+0.5%) rose in June for a sixth consecutive month, following a 1.2% increase the previous month.
• The IPPI rose 5.1% over the 12-month period ending in June, following a 3.4% gain in May. This was the largest year-over-year increase since May 2017.
• The Raw Materials Price Index (RMPI) (+0.5%) posted a fourth consecutive monthly increase in June, after rising 3.8% in May.