Canada November PPI +2.2% vs +1.1% y/y prior

• Prior was +1.1%
• Month-to-month PPI +Zero.6% vs +1.2% prior
• Uncooked supplies worth index +2.Zero% vs -2.eight% y/y prior
• Uncooked supplies worth index -Zero.5% vs +three.eight% m/m prior (revised to -2.6%)

The falling Canadian greenback is a giant cause why this report as been climbing prior to now two months as most commodities are priced in USD. These are the seeds of currency-driven inflation, although given the weak point within the Canadian financial system, this is not the sort of factor that causes a wage-price spiral.

Some drivers:

• Costs for lumber and different wooden merchandise (+5.7%) posted the most important month-over-month improve since
  March 2022
• Vitality and petroleum merchandise rose 1.1% in November
• Costs for motorized and leisure autos rose Zero.7% month over month in November
• The most important upward
  contributor to November’s year-over-year improve was unwrought gold, silver, and platinum group metals, and their
  alloys (+32.5%)

This text was written by Adam Button at www.ubaidahsan.com.



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