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Canada's IPPI up in April

Xinhua
14 May 2021, 03:30 GMT+10

OTTAWA, May 13 (Xinhua) -- Canada's Industrial Product Price Index (IPPI) rose 1.7 percent in April 2021, Statistics Canada said Thursday.

Year over year, the IPPI jumped 14.2 percent, the largest increase since February 1980.

The lumber and other wood products sector increased 6.5 percent, leading the IPPI increase.

The sector was driven mostly by softwood lumber, which rose 10.2 percent month over month.

The prices for softwood lumber were 166.3 percent higher than in April of 2020, the largest year-over-year increase recorded since the series began in 1956.

The prices for meat, fish and dairy products climbed 4.1 percent in April while prices of primary ferrous metal products grew 2.7 percent. Robust demand for steel in China is a key factor behind this upward price trend.

The prices for pulp and paper products were up 3.4 percent, mostly because of the price of wood pulp, which rose 7.1 percent from March to April.

The price increase was partially attributable to demand from China, the primary export destination for Canadian wood pulp.

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