Statistics Canada released its industrial product and raw materials price indexes on Friday. The Industrial Product Price Index (IPPI) fell 0.5% in October, missing forecasts for a 0.1% drop, after a 0.4% decline in September. September's figure was revised down from 0.3% decrease.
The decrease was mainly driven by lower prices for motorized and recreational vehicles, which slid 1.1% in October.
2 of the 21 commodity groups increased, 18 declined and 1 was unchanged.
The Raw Materials Price Index (RMPI) climbed 0.4% in October, after a 2.4% gain in September. September's figure was revised down from a 3.0% rise.
The rise was driven by higher prices for crude energy products. Crude energy products rose by 2.4% in September.
3 of the 6 commodity groups rose and 3 decreased.