Ottawa, ON — Monthly prices for manufactured goods at the factory gate rose in February 2005 for a third consecutive month, posting their largest monthly increase since May 2004, according to Statistics Canada. Raw materials prices were up for a second month in a row as prices for crude oil continued to rise.
Prices charged by manufacturers, as measured by the Industrial Product Price Index (IPPI), rose 1.1% from January to February. Higher prices for petroleum products, lumber products, motor vehicles, primary metals and pulp and paper products were the main sources of the monthly increase.
The 12-month change in the IPPI was 2.3%, down from January’s increase of 3.3%.
The Raw Materials Price Index (RMPI) was up 3.1% from January to February, following a 4.3% increase registered the previous month. There were price increases in mineral fuels, non-ferrous metals, vegetable products as well as non-metallic minerals.
Compared with February last year, raw materials cost factories 11.8% more. This was down from the 12-month rise of 12.4% experienced in January but slightly higher than the 11.2% advance observed in December.
In February, the IPPI (1997=100) stood at 110.1, up from its revised level of 108.9 in January. The RMPI (1997=100) reached 135.4, up from a revised level of 131.3 in January.