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Statistics Canada released its industrial product and raw materials price indexes on Friday. The Industrial Product Price Index (IPPI) climbed 0.7% in July, beating forecasts for a flat reading, after a 0.5% gain in June.
The increase was driven by higher prices for motorized and recreational vehicles, which rose 2.5% in July.
17 of the 21 commodity groups increased, 2 declined and 2 were unchanged.
The Raw Materials Price Index (RMPI) dropped 5.9% in July, after a 0.2% rise in June.
The decline was driven by lower prices for crude energy products. Crude energy products plunged 13.0% in June.
2 of the 6 commodity groups rose, 3 decreased and 1 were unchanged.
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