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Statistics Canada released its industrial product and raw materials price indexes on Tuesday. The Industrial Product Price Index (IPPI) fell 0.3% in August, beating forecasts for a 0.4% drop, after a 0.7% gain in July.
The decrease was driven by lower prices for energy and petroleum products, which slid 4.7% in August.
17 of the 21 commodity groups increased, 2 declined and 2 were unchanged.
The Raw Materials Price Index (RMPI) dropped 6.6% in August, after a 6.0% fall in July. It was the largest fall since January 2015.
The decline was driven by lower prices for crude energy products. Crude energy products plunged 14.8% in August.
2 of the 6 commodity groups rose and 4 decreased.