CANADA ECONOMICS: Producer Prices Rise Less Than Expected

By Midnight Trader,  April 30, 2012, 09:05:13 AM EDT

Canadian producer prices rose by 0.2% in March from February, pushed up by higher prices for petroleum and coal products, Statistics Canada said on Monday, according to a Reuters report. The increase was less than the 0.3% advance predicted by market operators, it said.

Raw material prices plunged by 1.6% on weaker mineral fuels, a far cry from the 0.3% growth expected by analysts.

Industrial prices were boosted by a 1.8% increase in the prices of petroleum and coal products, in particular a 4.7% jump in gasoline.

The advance was moderated by a 1% drop in the prices of primary metal products in the wake of weaker economic activity in Asia that cut demand for nickel and aluminum.

Raw material prices dropped for the second month in a row, pulled lower by a 3.6% drop in the price of mineral fuels. Crude petroleum prices fell 3.8%, the fourth consecutive monthly drop.




The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of The NASDAQ OMX Group, Inc.


This article appears in: Investing, Commodities

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