The IPPI posted a fourth consecutive monthly increase in August. Excluding energy and petroleum products, the IPPI rose 0.4 percent.
Primary non-ferrous metal products, which jumped 6.3 percent and have been rising since April 2020, were the primary reason for the increase in the IPPI.
Meanwhile, prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), increased 3.2 percent in August, after a 3-percent increase in July, principally due to higher prices for metal ores, concentrates and scrap.
Excluding crude energy products, the RMPI rose 4.2 percent.
In August, the gain in the RMPI was led by higher prices for metal ores, concentrates and scrap, which soared 9.3 percent, particularly precious metal ores and concentrates, which surged 21.7 percent.
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