Wood falls in IPPI and RMPI

Statistics Canada

The price of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), increased 1.0% month over month in September and 14.9% compared with the same month in 2020. Prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), increased 2.5% month over month in September and 31.9% compared with September 2020.

In September, the IPPI increased 1.0% after decreasing 0.3% the previous month. Of the 21 major commodity groups, 14 were up, 5 were down, and 2 were unchanged. The IPPI’s growth was mainly moderated by a decline in prices for lumber and other wood products (-1.3%). Lower prices for veneer and plywood (-10.3%), softwood lumber (-0.7%), and reconstituted wood products (-1.7%) were the main contributors to the decline in this product group.

The RMPI increased 2.5% in September after decreasing 3.1% in August. Of the six major commodity groups, two were up and four were down. Prices for logs, pulpwood, natural rubber, and other forestry products (-2.6%) decreased compared with August. The decline was mainly due to lower prices for logs and bolts (-2.8%).

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