Statistics Canada reports industrial index and raw materials fell in June

OTTAWA – Lower prices for petroleum and coal products pushed the Industrial Product Price Index down slightly in June, while a drop in the price of crude oil caused the Raw Materials Price Index to decline.

Statistics Canada reports the industrial index fell 0.3 per cent, while raw materials fell 4.0 per cent.

The agency reports the prices of petroleum and coal products fell 5.0 per cent, but the industrial index’s decline was partly offset by a 1.0 per cent increase in motor vehicles and other transportation equipment.

June’s decrease in the raw materials index — the fifth straight month it has fallen — was mainly due to a 10.1 per cent drop in the price of crude oil.

Gasoline prices fell 3.6 per cent while diesel fell 7.1 per cent, which contributed most to the decrease in petroleum and coal products.

Prices were down 2.4 per cent for copper and copper alloy products and 1.7 per cent for aluminum products, but the drop was moderated by a 1.6 per cent gain in other non-ferrous metal products.

A drop in the price of chemicals and chemical products and primary metal products also contributed to the industrial index’s decrease.