Canada's July PPI Rises 0.6% as Energy Prices Jump 6.4% on US-Iran Conflict
Updated
Updated · investinglive.com · Aug 20
Canada's July PPI Rises 0.6% as Energy Prices Jump 6.4% on US-Iran Conflict
3 articles · Updated · investinglive.com · Aug 20
Summary
Canada’s producer prices rose 0.6% in July, beating expectations for a 0.5% decline and reversing June’s 1.4% drop.
Energy and petroleum products drove the gain, climbing 6.4% as renewed US-Iran conflict tightened refined fuel markets; refined products rose 6.9%, led by diesel up 10.4% and gasoline up 4.7%.
Underlying price pressure was softer: PPI excluding energy and petroleum fell 0.2%, with primary non-ferrous metals down 5.2% and chemicals down 3.4%.
Raw material prices still fell 2.2% on the month, though less sharply than June’s 6.9% drop, while annual readings stayed elevated with PPI up 12.4% and RMPI up 18.1%.