Industrial Product Price Index (IPPI)
Summary of changes
Activity on this program started: January 1956
Reference period of change - August 2024
As of the August 2024 reference month, the weights of the IPPI and the RMPI values reflect 2019 production values of Canadian manufacturers, based on data from the Supply and Use Tables, the Annual Survey of Manufacturing and Logging, and alternative data sources. The IPPI and RMPI series have been migrated from the North American Product Classification System (NAPCS) 2017 Version 2.0 to NAPCS 2022 Version 1.0 as part of the basket update process. IPPI series aggregated according to the North American Industry Classification System (NAICS) 2017 Version 3.0 have been migrated to NAICS 2022 Version 1.0. This process resulted in several modifications including the addition of new series, the termination of series, and updates made to titles and definitions. Series that existed in the previous basket and did not experience a code change continue to be calculated relative to the same base period (January 2020=100). New series introduced under the classification system migration have a base period of July 2024 (July 2024=100).
Reference period of change - October 2020
Starting with the October 2020 reference period, the IPPI and RMPI are using an updated basket and methodology. The indexes have been converted from 2010 = 100 to January 2020 = 100 and updated to use a weighting pattern based on the 2016 production values of Canadian manufacturers.
At the same time, the IPPI and RMPI have been modernized with the adoption of a weighted geometric (Jevons) formula and incorporation of parental imputation as the default imputation methodology for missing price quotes.
The IPPI and RMPI are now using the North American Product Classification System (NAPCS) Canada 2017 version 2.0 and the North American Industry Classification System (NAICS) Canada 2017 version 3.0.
Reference period of change - November 2013
With the release of November 2013 data, Statistics Canada converted the Industrial Product Price Index (IPPI) and the Raw Materials Price Index (RMPI) series to 2010=100, with 2010 as the base year. These indexes have also been updated using a weighting pattern based on the 2010 production values of Canadian manufacturers.
At the same time, the classification system was converted to the North American Product Classification System (NAPCS) developed by Canada, the United States and Mexico.
Reference period of change - August 2010
The Industrial Product Price Index (IPPI) and the Raw Materials Price Index (RMPI) series have been converted to 2002=100, with 2002 as the base year. These indexes have also been updated using a 2002 weighting pattern based on the production values of 2002.
Reference period of change - January 2004
Effective with the January 2004 release, the monthly average exchange rate as determined by the Bank of Canada will now be used to convert prices received in currencies other than the Canadian dollar. Previously, the exchange rate conversion of such prices was carried out using the rate for the 15th of the month. The decision to switch to the monthly rate reflects the fact that the Industrial Product Price Index is intended to measure the change in the average monthly price for these goods. The monthly average exchange rate is a better estimator of the actual exchange rates used in transactions than a point in time exchange rate.
Reference period of change - October 2001
With the October 2001 data, Statistics Canada converted its economic series to a 1997=100 base year. Series for the Industrial Product Price Indexes have been converted. The indexes have also been updated using a 1997 weighting pattern.
The release of October data also includes an important classification change. The indexes covering industries based on the 1980 Standard Industrial Classification (SIC) are now classified using the 1997 North American Industrial Classification System (NAICS). The conversion from SIC to NAICS caused significant changes in the time series.
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