Updated
Updated · TradingView · Jun 18
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.

Insights

Canada's raw material prices surged 33% annually. Is this a temporary shock or the new normal for the Canadian economy?
As conflict drives up fertilizer costs, will a coming El Niño create a perfect storm for global food prices?
With a new US-Iran deal on the table, will the historic oil price shock finally come to an end this year?