Industrial producer prices in Canada fell by 1.1% month-over-month in December of 2022, extending the upwardly revised 0.5% drop in the previous session and well above market forecasts of a 0.3% decrease. Manufacturers’ costs fell for energy and petroleum products (-9.8%) for a second consecutive month due to lower global crude oil benchmarks, driving prices to fall for finished motor gasoline (-14.6%) and diesel fuel (-8.7%). At the same time, prices declined for softwood lumber (-8.7%) for a fifth consecutive month, largely due to lower residential housing construction demand in the United States, while low Chinese demand drove primary ferrous metal prices to retreat by 2.1%. On a yearly basis, producer inflation slowed to 7.6% from the downwardly revised 9.4% in the previous month. source: Statistics Canada
Producer Price Inflation MoM in Canada averaged 0.28 percent from 1956 until 2022, 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 February 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, according to our econometric models.