21.08.202512:47:30UTC+00Canada Producer Prices Accelerate in July

In July, Canada's industrial producer prices experienced a month-over-month increase of 0.7%, building on the prior month's 0.5% rise and surpassing market predictions of a 0.3% ascent. The primary driver of this upward trend was a 2.7% escalation in energy and petroleum products, particularly refined petroleum energy products, which climbed by 2.8%, with diesel fuel alone surging by 6.6% due to low distillate stock levels. Similarly, primary non-ferrous metal products saw a 2.7% hike, influenced by elevated prices for unwrought gold, silver, and platinum group metals, as well as their alloys, which jumped by 3.8%. Specifically, unwrought platinum group metals and their alloys surged by 12.4%, and unwrought silver and silver alloys increased by 4.8%, although unwrought gold and gold alloys slightly decreased by 0.3%. Additionally, prices for electrical, electronic, audiovisual, and telecommunication products rose by 1.2%, following two consecutive months of declines. Meanwhile, the cost for meat, fish, and dairy products continued an upward trajectory for the eighth consecutive month, rising by 0.6%.