The FINANCIAL — Canadian producer prices rose in May on higher prices for energy and petroleum products, mainly gasoline. The country’s raw materials price index, meanwhile, was up on stronger crude prices, according to Nasdaq.
Canada’s industrial product price index advanced 0.5% in May following a 0.9% decline in April, Statistics Canada said on June 29. This index measures the price manufacturers receive once their goods leave the plant, and doesn’t reflect the final prices consumers pay for goods on store shelves.
Of the 21 commodity groups tracked for the index, only three were up, while 15 fell and three were unchanged.
Prices for energy and petroleum products rose 5.0% overall, driven by a 7.1% increase in gasoline prices as well as increases for diesel fuel and heavy fuels oils. If energy products are excluded, the industrial product price index slipped 0.2%.
Prices for raw materials used by manufacturers rose 4.4% in May, following a 4.0% increase in April.
On a 12-month basis, raw material prices fell 17.0%, reflecting lower crude prices.
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