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For additional information relating to this article, please contact:

Thomas StorringDirector – Economics and Statistics
Tel: 902-424-2410Email: thomas.storring@novascotia.ca

July 13, 2020
CANADA INDUSTRIAL PRODUCT PRICES, JUNE 2020 (FLASH)

Overall Canadian industrial product prices  are up 0.4% from Jun-20 vs May-20 and are down 3.1% over Jun-20 vs Jun-19. Excluding energy and petroleum products, industrial product prices are down 0.6% from Jun-20 vs May-20 and are  up 1.4% from Jun-20 vs Jun-19.

Declining industrial products are largely attributable to reductions in the prices of energy and petroleum products, which are  up 11.7% from  Jun-20 vs May-20 and  are down 31.6% from  Jun-20 vs Jun-19.

 

Month-over-month: In Jun-20 vs Jun-19,  the majority of non-energy industrial product prices (17 of 20) are  down with the exceptions of

  • Primary non-ferrous metal,
  • Beverages (excl. juice), and
  • Lumber and other wood.

Year-over-year: In Jun-20 vs Jun-19,  the majority of non-energy industrial product prices (12 of 20) are up with the exceptions of

  • Cement, glass, non-metallic minerals
  • Packaging materials/containers
  • Plastic and rubber
  • Pulp and paper
  • Fabricated metal/construction materials
  • Primary ferrous metal
  • Chemicals and chemical

 

During the COVID-19 pandemic, comparisons of year-to-date averages and sums do not show Nova Scotia’s rapidly changing economic situation.  The DailyStats will focus on year-over-year comparisons, comparing one month with the same month in the prior year.  Where possible the DailyStats will make comparisons of seasonally adjusted data from the pre-COVID-19 period (January  and February 2020) with the period during which COVID-19 measures were in place from March 2020 onwards.

To provide Canadians with timely information about the uncertain impacts of COVID-19, Statistics Canada is providing a preliminary ('flash') estimate of industrial product prices.  This will provide an early assessment of the impacts from COVID-19.  This information is preliminary and will be revised at the end of May.  These data refer to prices received by all Canadian producers across the country.

 

Source: Industrial Product Price Index: Flash estimates, June 2020



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