By Paul Vieira

OTTAWA--Canadian producer prices in October increased just ahead of market expectations, on higher prices for energy and petroleum products.

Prices for raw materials used by manufacturers also advanced in October.

Canada's industrial product price index rose 0.7% in October, Statistics Canada said Wednesday. Market expectations were for the index to rise 0.6%, 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.

On a 12-month basis, producer prices rose 0.8%.

Of the 21 commodity groups tracked for this index, 13 posted increases in October.

Prices for raw materials used by manufacturers in October climbed 3.3%, led by higher prices for conventional crude oil. Market expectations were for a 3.5% increase. On a 12-month basis, the raw-materials index increased 1.5%.

Write to Paul Vieira at

(END) Dow Jones Newswires

November 30, 2016 08:47 ET (13:47 GMT)

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