Source: Statistics Canada

In April, a second consecutive strong monthly increase in petroleum prices caused indexes for manufactured goods and raw materials prices to reach record levels in Canada.

From March to April, prices charged by Canadian manufacturers, as measured by the Industrial Product Price Index (IPPI), rose 1.4%. While down slightly from the 1.8% increase observed in March, the growth in prices remained strong for a second consecutive month, pushing the IPPI above its last historical peak reached in April 2007. This increase was almost entirely driven by petroleum and coal products, which continued their upward climb with an increase of 7.9%, similar to the rate recorded in March.

Prices of other IPPI products, …