Canada Raw Materials Price Index (RMPI) m/m measures a change in raw material prices purchased by manufacturers in the specified month compared to the previous month. Unlike the Industrial Product Price Index, RMPI includes purchasing positions produced outside of Canada. The calculation covers all charges purchasers incur to bring a commodity to the establishment gate, including transportation costs, net taxes paid and custom duties. Raw material prices include energy costs.
RMPI is calculated based on the following data: 79% of data from administrative sources, 18% of data collected by direct survey, and 3% from proxy imputation.
RMPI is published together with another important index - IPPI, it meets many of the same needs of analysts. The indicator reflects movement in prices for a group of major input products into goods manufactured in Canada.
The indicator demonstrates the level of inflation. It is a leading indicator of short-term production activity. Also, the raw materials price index is a leading indicator of consumer prices in the Canadian market: an increase in manufacturers' costs will lead to an increase in prices for final products.
The indicator growth can have a positive effect on the Canadian dollar quotes.
The chart of the entire available history of the "Canada Raw Materials Price Index (RMPI) m/m" 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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