Canada August industrial product price -0.3% m/m vs -0.5% expected

Canadian producer price data for August:

• Prior was +0.7% m/m
• Raw materials price index -6.6% vs -7.5% m/m expected
• Prior raw materials price index was -5.9% m/m

Raw materials prices are plummeting and that will eventually hit the main CPI. The numbers are slightly better than expected but this is a low tier indicator and rarely, if ever, moves CAD.