Investing.com – Canada's raw materials price index rose more-than-expected in October, official data showed on Monday.
In a report, Statistics Canada said the raw materials purchase price index rose by a seasonally adjusted 1.7% in October, after declining by 0.5% in September, whose figure was revised from a decline of 0.4%.
Analysts had expected the raw materials purchase price index to rise by 0.8% in October.
The report said the increase was due to higher prices for mineral fuels, non-ferrous metals and vegetable products, while crude oil prices were up 2.5% in October.
The industrial product price index also rose more-than-expected in October, increasing by 0.5%, after rising by 0.3% in September, whose figure was revised up from 0.2%.
Analysts had expected the index to rise by 0.2% in October.
The index rose as a result of higher prices for petroleum and coal products, which rose by 4.5% in October.
Following the release of the data, the loonie was down against the U.S. dollar, with USD/CAD advancing 0.08% to hit 1.0209.
In a report, Statistics Canada said the raw materials purchase price index rose by a seasonally adjusted 1.7% in October, after declining by 0.5% in September, whose figure was revised from a decline of 0.4%.
Analysts had expected the raw materials purchase price index to rise by 0.8% in October.
The report said the increase was due to higher prices for mineral fuels, non-ferrous metals and vegetable products, while crude oil prices were up 2.5% in October.
The industrial product price index also rose more-than-expected in October, increasing by 0.5%, after rising by 0.3% in September, whose figure was revised up from 0.2%.
Analysts had expected the index to rise by 0.2% in October.
The index rose as a result of higher prices for petroleum and coal products, which rose by 4.5% in October.
Following the release of the data, the loonie was down against the U.S. dollar, with USD/CAD advancing 0.08% to hit 1.0209.