According to Statistics Canada, the Industrial Product Price Index (IPPI) rose 0.2 percent in July after rising 0.7 percent in June. Of the 21 major commodity groups, 13 were up, 5 were down and 3 were unchanged.
Primary ferrous metals (+1.0 percent) rose in July, but to a much lesser extent than non-ferrous metals. The increase in primary ferrous metals was mostly attributable to higher prices for wire and other rolled and drawn steel products (+3.0 percent).
Meanwhile, the Raw Materials Price Index (RMPI) decreased 2.7 percent in July The decline in the RMPI was mainly attributable to lower prices for crude energy products (-8.4 percent), specifically conventional crude oil (-8.7 percent). Largely moderating this decline were higher prices for metal ores, concentrates and scrap (+5.1 percent). This was the largest increase in this commodity group since September 2012, when prices rose 9.8 percent.