Investing.com – Canada's raw materials price index rose significantly more-than-expected in March, official data showed on Monday.
In a report, Statistics Canada said the raw materials purchase price index jumped by a seasonally adjusted 5.7% in March, after increasing by 2.1% in February, whose figure was upwardly revised from 1.8%.
Analysts had expected the raw materials purchase price index to rise by 2.5% in March.
The industrial product price index rose in line with expectations in March, climbing by 0.9% after rising by 0.9% in February, whose figure was revised up from 0.7%.
The strong increase in petroleum prices was the main reason for the advance of both indexes.
Following the release of the data, the loonie was down against the U.S. dollar, with USD/CAD rising 0.46% to hit 0.9493.
In a report, Statistics Canada said the raw materials purchase price index jumped by a seasonally adjusted 5.7% in March, after increasing by 2.1% in February, whose figure was upwardly revised from 1.8%.
Analysts had expected the raw materials purchase price index to rise by 2.5% in March.
The industrial product price index rose in line with expectations in March, climbing by 0.9% after rising by 0.9% in February, whose figure was revised up from 0.7%.
The strong increase in petroleum prices was the main reason for the advance of both indexes.
Following the release of the data, the loonie was down against the U.S. dollar, with USD/CAD rising 0.46% to hit 0.9493.