Canadian producer prices rose in August on the strength of energy and petroleum products. Meanwhile, the country's raw-materials price index also increased, reversing the previous month's decline, also on higher costs related to crude-energy products.
Canada's industrial product price index advanced 0.3% in August, Statistics Canada said Friday, after a 1.6% decrease in the previous month. Market expectations were for a 0.5% rise.
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The index measures the price manufacturers in Canada receive once their goods leave the plant. It doesn't reflect the final prices consumers pay for goods on store shelves.
Of the 21 commodity groups tracked for the index, six rose and 13 decreased in August.
On a year-over-year basis, producer prices increased 1.9%.
As for raw materials, prices paid by manufacturers in August increased 1%. On a 12-month basis, raw materials prices rose 6.1%.
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(END) Dow Jones Newswires
September 29, 2017 08:45 ET (12:45 GMT)