Canada Industrial Prices Rose 0.3% in January
By Kim Mackrael
OTTAWA--Canadian producer prices rose in January on higher prices for energy and petroleum products. Meanwhile, the country's raw-materials price index also increased.
Canada's industrial product price index rose 0.3% in January, Statistics Canada said Wednesday, following a 0.1% decline in December. Market expectations were for a 0.5% increase in January, 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, 7 increased, 10 declined, and 4 were unchanged, Statistics Canada said.
On a 12-month basis, the producer-price index increased 2%.
As for raw materials, prices paid by manufacturers in January rose 3.3%, after falling 0.9% in the previous month. January's increase was mostly because of higher prices for crude energy products.
On a 12-month basis, prices for raw materials rose 7.7%.
Write to Kim Mackrael at firstname.lastname@example.org
(END) Dow Jones Newswires
February 28, 2018 09:06 ET (14:06 GMT)Copyright (c) 2018 Dow Jones & Company, Inc.