Canada industrial product prices MoM for December -1.5% versus -0.7% estimate

Prior month industrial product prices -0.4% revised to -0.3%Prior month raw material prices -4.2% revised to -4.9%Industrial product prices -1.5% vs -0.7% estimateIPPI YoY -2.7% vs -2.0% last month (revised from -2.3%)Raw Material Prices MoM -4.9% vs -1.6% estimateRMPI YoY -7.9% vs -5.4% last month (revised from -4.6%)Details:The IPPI index all was the third consecutive monthly decrease and the largest decline since August 2022. Excluding energy and petroleum products the IPPI fell -0.6%prices of energy and petroleum products fell -8.5% the largest monthly decrease since December 2022. Concerns about future oil demand and elevated global petroleum supply were influencing factorsthe year and year fall of -2.7% was attributed largely to energy and petroleum products declining -14.2%. Excluding energy and petroleum products, the IPPI felt -1.1% For RMPI, crude energy products -10.3% led the monthly decrease. That followed a -13.0% decline in November. This article was written by Greg Michalowski at www.forexlive.com.