By Kim Mackrael
OTTAWA--Canadian producer prices rose in September, led by higher prices for energy and petroleum products. The country's raw materials price index edged down, as lower prices for animals and animal products were mostly offset by higher prices for crude energy products.
Canada's industrial product price index increased 0.4% in September, Statistics Canada said Monday. Market expectations were for the index to rise by 0.5%, according to economists at Royal Bank of Canada. The 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.
The previous month's data were revised and now indicate producer prices fell by 0.4%, compared with the previous estimate of a 0.5% decline, Statistics Canada said.
Of the 21 commodity groups tracked for the index, 15 posted increases in September from August, led by a 0.9% advance in energy and petroleum product prices.
On a year-over-year basis, producer prices fell 0.5% in September.
Prices for raw materials used by manufacturers in September declined 0.1%. Prices for animals and animal products were down 3.7% in the month, while prices for crude energy products increased 2.4%.
On a 12-month basis, raw material prices fell 1.9%. Excluding crude energy products, the raw materials price index fell 3.0% on an annual basis.
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(END) Dow Jones Newswires
October 31, 2016 08:45 ET (12:45 GMT)
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