Canada PPI
  • Prior was +1.4%
  • Prices +0.1% m/m vs -0.8% prior
  • Raw materials price index -1.7% m/m vs -0.4% prior
  • Raw materials -16.5% y/y vs -5.2% prior

The elevated numbers after the start of the Ukraine war are leaking into the y/y figures now and you can see how much y/y disinflation that's adding. That will continue through June when commodity inflation peaked.x