According to recent data released by Statistics Canada on 18th March 2024, Canada's Raw Materials Price Index (RMPI) displayed signs of improvement in February 2024 compared to the previous month. In January 2024, the RMPI had dropped by -6.4%, but in February 2024, the indicator improved to -4.7%.
The RMPI provides insight into the changes in prices that producers in Canada receive for their raw materials. The Year-over-Year comparison indicates that despite the improvement from January to February, there is still a decline compared to the same period the previous year. This information is crucial for economists and analysts as it offers valuable data on the state of Canada's raw material prices, which can have significant implications for various industries within the country's economy.
