Canada Producer-Price Index Declines 0.1% in December
By Paul Vieira
OTTAWA--Canadian producer prices edged downward in December after strong increases in the previous two months on weaker prices for energy products. Meanwhile, the country's raw-materials price index also fell, but at a slower-than-expected pace.
Canada's industrial product price index declined 0.1% in December, Statistics Canada said Wednesday, following a 1.4% increase in November and a 1.1% rise in October. Market expectations were for a 0.2% decrease in December, according to economists at Royal Bank of Canada.
The index measures the price manufacturers in Canada receive once their goods leave the plant. It doesn't reflect the final prices consumers pay for goods on store shelves.
Of the 21 commodity groups tracked for the index, nine declined in December, whereas eight rose and four were unchanged.
On a 12-month basis, the producer-price index rose 2.2%.
As for raw materials, prices paid by manufacturers in December declined 0.9%. Market expectations were for a 2.3% decline. December's drop was largely attributed to weakness in conventional crude oil. On a 12-month basis, prices for raw materials rose 6.2%.
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(END) Dow Jones Newswires
January 31, 2018 08:45 ET (13:45 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.