Farm Machinery And Equipment Costs Going DownAugust 26, 2016 6:01am
The cost of crop and animal production machinery and equipment went down from the first to the second quarter of this year.
However, Statistics Canada says those costs were higher than they were in the second quarter of last year.
Statscan says the quarter-to-quarter drop in those prices was 5 point 4 per cent.
The increase over the second quarter of 2015 was 5 per cent.
The agency’s overall Machinery and Equipment Price Index was down 5.4 per cent in the second quarter – up 4 per cent on the year.
Statscan says the biggest increases, year-over-year, were for imported machinery and equipment.
That’s being blamed on the year-over-year depreciation of the Canadian dollar against the U-S currency.