The FINANCIAL — Canadian producer prices rose for a second straight month in March, exceeding expectations for a small decline, due to higher prices for energy and petroleum products, according to Nasdaq.
The country’s raw materials price index declined in March, but at a slower pace compared with market expectations.
Canada’s industrial product price index rose 0.3% in March, Statistics Canada said on April 29. Market expectations were for a 0.1% decline, according to economists at Royal Bank of Canada. This index measures the price manufacturers in Canada receive once their goods leave the plant, and does not reflect the final prices consumers pay for goods on store shelves.
Of the 21 commodity groups tracked for the index, 11 reported increases in March, led by a 1.8% advance in energy and petroleum products.
On a year-over-year basis, producer prices fell 1.8% in March.
Prices for raw materials used by manufacturers fell 0.9% in March, or the eighth month-over-month decline in nine months. Market expectations were for a drop of 2%. On a 12-month basis, raw material prices plunged fell 23.3%.