Canada Industrial Product Price Index y/y shows changes in prices of major domestically produced goods sold by manufacturers in the specified month compared to the same period of the previous year. The calculation is based on producer prices rather than retail prices. All indirect taxes (for example, sales taxes) and the price of transportation services for shipment from manufacturers are excluded from calculation.
Data on industrial product prices are mainly collected by electronic reporting (90%) of about 1,100 companies. The sample is compiled in accordance with the classification of manufacturers by size and product. The sample is usually reviewed once every 5 years, it primarily concerns commodity groups subject to rapid development. About 10% of data are extracted from other sources (in addition to the main survey), such as statistics from state bodies, other economic indicators, etc.
The indicator is one of the most important indicators of economic health. It measures changes in prices for manufactured goods produced in Canada, intended for both domestic consumption and export. Thus it provides a complete description of Canada's manufacturing sector. The same index is used for the calculation of real GDP.
The indicator growth can have a positive effect on CAD quotes.
The chart of the entire available history of the "Canada Industrial Product Price Index (IPPI) y/y" macroeconomic indicator. The dashed line shows the forecast values of the economic indicator for the specified dates.
A significant deviation of a real value from a forecast one may cause a short-term strengthening or weakening of a national currency in the Forex market. The threshold values of the indicators signaling the approach of the critical state of the national (local) economy occupy a special place.
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