Canada Raw Materials Prices Rise 0.7% in May as Crude Energy Slips 0.5%
Updated
Updated · TradingView · Jun 18
Canada Raw Materials Prices Rise 0.7% in May as Crude Energy Slips 0.5%
3 articles · Updated · TradingView · Jun 18
Summary
Canada’s raw materials price index rose 0.7% in May from April, slowing from a 2.6% gain and missing forecasts for a 1.1% increase.
Crude energy products fell 0.5%—driven by a 4.3% drop in synthetic crude oil—partly offsetting broader gains even as energy prices stayed elevated amid Middle East conflict.
Crop product prices climbed 2.2% for a fifth straight monthly increase, led by canola up 3.5%, grains up 3.2% and wheat up 4.6%.
Metal ores, concentrates and scrap rose 0.5%, with nickel and copper ores each up 4.6%, while lower gold, silver and platinum-group ore prices limited the advance.
On an annual basis, the RMPI was up 33.4%, underscoring how raw material costs remain far above year-earlier levels despite May’s softer monthly increase.