© Reuters.
OTTAWA – Recent data from Statistics Canada indicates a significant decrease in the prices of Canadian manufactured goods and raw materials in October, primarily driven by lower costs. The producer-price index fell by 1.0% from September, marking a year-over-year decline of 2.7%. This downward trend highlights the impact of fluctuating commodity prices on the country’s manufacturing sector.
The report detailed specific areas where price reductions were most pronounced. Energy and petroleum products experienced a notable decline, with prices dropping by 5.7%. Motor gasoline prices contributed significantly to this decrease. When energy products were excluded, producer prices still saw a reduction, albeit a smaller one at 0.3%. This suggests that the broader manufacturing sector is also facing downward price pressures beyond the volatile energy segment.
Softwood lumber prices saw their steepest monthly fall since March, plunging by 6.4%. This drop is closely tied to the real estate market, which has been cooling due to high-interest rates. The construction industry often serves as a barometer for broader economic trends, and this substantial decline could…
Read the full article here
