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Canada: Producer Price Index falls 1.1% in December

  • The Producer Price Index (IPP) falls more than expected in December.
  • The Commodity Price Index also registers a more significant decline than the market consensus.
  • USD/CAD remains stable despite the weakness of the dollar.

The Canadian Industrial Producer Price Index it was down 1.1% in December, more than the 0.3% decline expected. The annual rate went from 9.7% to 7.6%.

The Commodity Price Index fell 3.1% in December, much more than the expected drop of 1.3%. Compared to twelve months ago, it went from 8.0% to 7.5% in December.

At the same time, there were reports from the US on retail sales and wholesale inflation, which caused the dollar to fall. The USD/CAD had a mixed reaction to the data and is trading around the 1.3375 area, where it was prior to the data.

Source: Fx Street

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