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Trade News

Each day TFO Canada publishes a sample of trade news on the Canadian import market along with any new, updated or changed regulations and legislations regarding international trade; countries in which TFO Canada offers services and on the export sectors which it promotes.


Canada December Producer Prices Continue Move Downward

Friday, January 30, 2009 > 10:43:24

(Reuters – Louise Egan – via I.E. )

Canadian industrial product prices slid 1.9% in December as world oil prices continued to plummet, driving the annual rise in producer prices to its lowest in eight months at 2.5%, Statistics Canada said on Thursday. Raw materials prices – reflecting what manufacturers pay for key commodities – tumbled by a sharper-than-expected 15.4% on the month and were down 29.9% from a year earlier.

The declines followed record price drops in November for both industrial products and raw materials. Analysts surveyed by Reuters had expected monthly declines in December of 2% and 10% for producer prices and raw materials, respectively.

An 18% drop in petroleum and coal product prices was partially offset by a 1.3% depreciation of the Canadian dollar against the U.S. dollar in December, which helped inflate prices for exporters. Prices for primary metals products fell 3.1% and chemical products fell 2%.

The industrial product price index stood 5.7% below its peak in August 2008 and matched levels seen in February of last year, Statscan said. The raw materials price index was at its lowest since December 2004.





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