Investing.com – Canada's raw materials price index fell unexpectedly in July, dropping for the third consecutive month, official data showed on Monday.
In a report, Statistics Canada said the raw materials purchase price index declined by a seasonally adjusted 1.2% in July, after dropping by 2.4% in June, whose figure was revised down from a 2.2% decline.
Analysts had expected the raw materials purchase price index to rise by 0.2%.
The RMPI rose at an annualized rate of 19.4% in July, after rising at a rate of 23.1% in the previous month.
The industrial product price index declined 0.3% in July, confounding expectations for a flat reading, after dropping by 0.2% in June.
Year-over-year, the IPPI rose at an annualized rate of 5.1% in July, after climbing at a rate of 5.3% in June.
The largest contributors to the IPPI's decline were chemical products and motor vehicles, while mineral fuels were the major factor in the decrease of the RMPI.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD gaining 0.21% to trade at 0.9792.
In a report, Statistics Canada said the raw materials purchase price index declined by a seasonally adjusted 1.2% in July, after dropping by 2.4% in June, whose figure was revised down from a 2.2% decline.
Analysts had expected the raw materials purchase price index to rise by 0.2%.
The RMPI rose at an annualized rate of 19.4% in July, after rising at a rate of 23.1% in the previous month.
The industrial product price index declined 0.3% in July, confounding expectations for a flat reading, after dropping by 0.2% in June.
Year-over-year, the IPPI rose at an annualized rate of 5.1% in July, after climbing at a rate of 5.3% in June.
The largest contributors to the IPPI's decline were chemical products and motor vehicles, while mineral fuels were the major factor in the decrease of the RMPI.
Following the release of the data, the Canadian dollar was down against its U.S. counterpart, with USD/CAD gaining 0.21% to trade at 0.9792.