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- Canadian industrial product and raw materials price indexes increased in February
Canadian industrial product and raw materials price indexes increased in February
Statistics Canada released its industrial product and raw materials price indexes on Monday. The Industrial Product Price Index (IPPI) rose 1.8% in February, beating forecasts for a 0.6% gain, after a 0.3% decrease in January. January's figure was revised up from a 0.4% decline.
It was the first increase since August 2014. The increase was driven by higher prices for energy and petroleum products.
Energy and petroleum products soared 8.8% in February, the first rise since June 2014 and the largest increase since June 2009.
The Raw Materials Price Index (RMPI) jumped 6.1% in February, exceeding expectations for a 5.1% rise, after a 7.8% drop in January. January's figure was revised down from a 7.7% decrease.
It was the first gain since June 2014.
The rise was driven by higher prices for crude energy products. Crude energy products jumped 16.0% in February, the largest rise since March 2009.
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