OCS releases Industrial Product Price Index analysis

April 21, 2023 – The Ontario Construction Secretariat (OCS) released its analysis on the Industrial Product Price index. Findings included a decrease in energy and petroleum products by 13.4 per cent compared to March 2022, and a decrease in lumber prices, which fell 39.5 per cent, its fifth consecutive drop year-over-year. Prices in fabricated metal products and construction materials increase by two per cent less than in February. Cement, glass, and other non-metallic mineral product prices remain elevated, with a 12.4 per cent annual increase in March. OCS reports that “prices this category have gradually increased as pandemic restrictions eased.” Machinery and equipment prices are also higher, with a 10 per cent increase in March.

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