Canada PPI yy
- Prior was +5.8%
- Prices +0.4% m/m vs +1.4% prior
- Raw materials price index +0.3% m/m vs +3.5% prior
- Raw materials +9.3% y/y vs +11.2% prior
The drop in the Canadian dollar caused a spike in raw materials prices to start the year and that's working its way through the supply chain. It could limit what the Bank of Canada can do in terms of rate cuts.
