Canada August chemical prices rise 0.7% from July

29 September 2011 16:18  [Source: ICIS news]

TORONTO (ICIS)--Canadian chemicals and chemical product prices rose 0.7% in August from July, a government statistics agency said on Thursday.

Compared with August 2010, Canadian chemicals and chemical product prices were up 8.7% year on year.

Overall, Canada’s industrial product price index rose 0.5% in August from July, and was up 5.2% year on year from August 2010.

Statistics Canada said the sequential increase in August from July was led by higher motor vehicle prices, as well as by the higher prices for chemicals and chemical products.

The year-on-year increase from August 2010 was mainly due to higher prices for petroleum and coal products, primary metals products, as well as the increased prices for chemicals and chemicals products, the agency said.

However, at the same time, the stronger Canadian dollar, relative to the US dollar, moderated the increase in Canada’s industrial prices somewhat, the agency said.

The Canadian dollar recorded a 6.0% year-on-year gain against the US dollar in August. Without that exchange-rate impact, Canada’s industrial product price index would have risen 6.6% year on year in August, instead of 5.2%, Statistics Canada said.

In related news, US producer prices for chemicals and plastic resins fell in August from July, ICIS reported.

Read Paul Hodges’ Chemicals and the Economy Blog

By: Stefan Baumgarten
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