Canadian producer prices rose for an eighth straight month in April on higher prices for energy and petroleum products. The country's raw-materials price index rose after a decline in the previous month.
Canada's industrial product price index rose 0.6% in April, Statistics Canada said Tuesday. Market expectations for this indicator were not available.
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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 rose, three fell and four were unchanged.
On a year-over-year basis, producer prices rose 6.3%, which represents the largest one-year gain since October, 2011.
Prices for raw materials used by manufacturers in April advanced 1.6%, largely offsetting the 1.7% decrease recorded in the previous month.
On a 12-month basis, raw materials prices rose 17.7%.
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(END) Dow Jones Newswires
May 30, 2017 08:45 ET (12:45 GMT)