Canadian producer prices fell in May, the first month-over-month decline since August of last year, as lower prices for energy and petroleum products offset a broad-based increase in other categories. The country's raw-materials price index also fell.
Canada's industrial product price index decreased 0.2% in May, Statistics Canada said Friday. Market expectations were for a 0.4% gain.
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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, 17 rose, three fell and one was unchanged.
On a year-over-year basis, producer prices rose 4.9%.
Prices for raw materials used by manufacturers in April declined 1.8%, following a 1.6% advance in the previous month. Market expectations were for prices to remain unchanged from the previous month.
On a 12-month basis, raw materials prices rose 8%.
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(END) Dow Jones Newswires
June 30, 2017 08:46 ET (12:46 GMT)