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Falling oil prices drag industrial and raw materials prices lower than expected

Falling oil prices drag industrial and raw materials prices lower than expected

Statistics Canada reported a much worse decline than expected Raw Materials Price Index (RMPI) and Industrial Product Price Index (IPPI).

RMPI declined 2.6% from January to February, lead by a 9.4% drop in crude oil prices. Raw material pricing in Canada is down 15.1% year-over-year on a 31.3% decline in crude oil and 6.8% decline in industrial metals.

IPPI (which includes refined petroleum products) also fell 1.1% in February (month/month), dragged lower on an 8.3% decline in gasoline prices and 10.6% decline in petrochemical products. However, IPPI fell only 1.4% year/year despite a 21.4% drop in energy products and 10.5% decline in metal products.

January GDP rises more than expected in January thanks to gains in the energy sector

January GDP rises more than expected in January thanks to gains in the energy sector

EI recipients in Alberta almost double last year

EI recipients in Alberta almost double last year

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