By Kim Mackrael
OTTAWA--Canadian producer prices rose in November, led by higher prices for vehicles and non-ferrous metal products. The country's raw materials price index declined on lower prices for crude oil.
Canada's industrial product price index rose 0.3% in November, Statistics Canada said Thursday. The report follows a 0.7% increase in the previous month.
The producer price 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, 14 posted increases in November. Price gains for motorized and recreational vehicles, which led the month-over-month increase, were linked to the depreciation of the Canadian dollar, Statistics Canada said. Higher prices for primary non-ferrous metal products also contributed to the November increase.
On a year-over-year basis, producer prices rose 1.4%.
Prices for raw materials used by manufacturers in November fell 2.0%, mostly because of lower prices for crude energy products.
On a 12-month basis, raw materials prices rose 4.1%.
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(END) Dow Jones Newswires
January 05, 2017 08:45 ET (13:45 GMT)
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