Nov 18 (Reuters) – Producer prices in Canada rose by 2.4% in October from September on higher prices for refined petroleum energy products, Statistics Canada said on Friday. The depreciating Canadian dollar continued to affect prices.
The increase followed a downwardly revised 0.0% change September. Raw materials prices were up 1.3% in October, and were up 9.0% on the year.
“If the CAD-USD exchange rate had remained the same from September to October, the overall IPPI would have increased 1.7% instead of 2.4%,” Statscan said.
INDUSTRIAL PRODUCT PRICES (pct change)
Month-on-month Year-on-year
Oct Sep(rev) Sep(prev) Oct Sep(rev) Sep(prev)
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total +2.4 0.0 +0.1 +10.1 +9.1 +9.0
ex energy/petrol +0.9 +0.7 +0.4 +6.1 +5.9 +5.7
RAW MATERIALS PRICE INDEX (pct change)
Month-on-month Year-on-year
Sep Aug(rev) Aug(prev) Sep Aug(rev) Aug(prev)
total +1.3 -3.1 -3.2 +9.0 +12.7 +11.0
ex crude energy +0.6 -3.1 -2.8 +1.8 +1.2 +1.5
NOTE: Analysts surveyed by Reuters forecast a 0.4% increase in producer prices in October from September.
(Reporting by Dale Smith)