The prices of raw materials and industrial products declined in September, according to new data from Statistics Canada \u2014 signalling weakness in underlying goods inflation.<\/p>\n
The national statistical agency reported that raw materials prices were down 3.1% in September on a month-over-month basis, and declined 8.8% year-over-year, driven by lower energy prices.<\/p>\n
Crude energy prices were down 8.5% in September, and synthetic crude oil prices were down 10.1%, StatCan said.<\/p>\n
“Concerns over the weak global economy and petroleum future demand put downward pressure on oil prices in September,” it said.<\/p>\n
Excluding crude energy products, raw materials prices were up 0.6% in September, led by stronger precious metals prices (gold, silver and platinum), which were up 2.7% on a month-over-month basis and up 28.4% year-over-year.<\/p>\n
Additionally, StatCan reported that the industrial products prices were down 0.6% in September, and that they decreased by 0.9% year-over-year.<\/p>\n
Declining energy prices led the way here too, as lower crude prices fed through to refined energy products.<\/p>\n
Excluding energy and petroleum products, industrial prices were up 0.2% in September, led by precious metals.<\/p>\n
“Interest rate cuts from the U.S. Federal Reserve and other central banks, combined with ongoing geopolitical tensions in the Middle East, put upward pressure on precious metals prices,” StatCan said.<\/p>\n","protected":false},"excerpt":{"rendered":"
Decline in raw materials, industrial product prices led by crude oil <\/p>\n","protected":false},"author":147314,"featured_media":495276,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[2313,2312],"tags":[2800,2402,2426,2395,103823,2769,3006,2321,3807],"yst_prominent_words":[5866,106660,60490,60488,58861,58857,32894,23279,19254,18135,18124,10199,6832,2235,5014],"acf":[],"_links":{"self":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/495257"}],"collection":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/users\/147314"}],"replies":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/comments?post=495257"}],"version-history":[{"count":4,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/495257\/revisions"}],"predecessor-version":[{"id":495277,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/posts\/495257\/revisions\/495277"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media\/495276"}],"wp:attachment":[{"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/media?parent=495257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/categories?post=495257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/tags?post=495257"},{"taxonomy":"yst_prominent_words","embeddable":true,"href":"https:\/\/www.investmentexecutive.com\/wp-json\/wp\/v2\/yst_prominent_words?post=495257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}