Investing.com - Canada's raw materials price index rose more than expected in February, largely as a result of higher prices for energy and petroleum products, official data showed on Monday.
In a report, Statistics Canada said the raw materials purchase price index jumped by 6.1% last month, compared to expectations for a gain of 5.1%. The raw material price index fell by 7.8% in January.
The RMPI dropped at an annualized rate of 21.8% in February, after slumping at a rate of 21.9% in the previous month.
The data also showed that the industrial product price index rose by 1.8%, compared to forecasts for a 0.6% increase, after falling 0.3% in January.
Year-over-year, the IPPI declined at an annualized rate of 1.6% in February, after decreasing at a rate of 2.1% in the preceding month.
USD/CAD was trading at 1.2642 from around 1.2649 ahead of the release of the data.