Canada: Industrial Product Price Index declined 1.0% in June

"The Industrial Product Price Index (IPPI) declined 1.0% in June, mainly due to lower prices for energy and petroleum products. The Raw Materials Price Index (RMPI) declined 3.7%, primarily due to lower prices for crude energy products," announced the Statistics Canada on Monday.

Key takeaways:

• The IPPI fell 1.0% in June, after edging up 0.1% in the previous month. Of the 21 major commodity groups, 16 were down and 5 were up
• The decrease in the IPPI was mainly due to lower prices for energy and petroleum products (-4.1%), which experienced their largest decline since February 2016
• The IPPI rose 3.3% over the 12-month period ending in June, after posting a 5.2% increase in May
• The RMPI fell 3.7% in June. This was the second consecutive monthly decline and the largest decline since December 2015
• The RMPI increased 2.2% in the 12-month period ending in June, after posting an 8.4% increase in May