Investing.com – Canada's raw materials price index fell unexpectedly in June, down for the second consecutive month, official data showed on Thursday.
In a report Statistics Canada said the raw materials purchase price index fell by 0.3% in June, after declining 7.2% in May.
Analysts had expected the index to rise by 1.1% in June.
The report said the decline was due to lower metal and animal feed prices.
The industrial product price index also declined unexpectedly in June, down 0.9% after rising 0.3% in May.
Analysts had expected the index to remain unchanged in June.
The index fell as a result of lower prices for petroleum and coal products which fell 2.3%.
Following the release of the data the Canadian dollar was up against its U.S. counterpart, with USD/CAD shedding 0.40% to hit 1.0346.
In a report Statistics Canada said the raw materials purchase price index fell by 0.3% in June, after declining 7.2% in May.
Analysts had expected the index to rise by 1.1% in June.
The report said the decline was due to lower metal and animal feed prices.
The industrial product price index also declined unexpectedly in June, down 0.9% after rising 0.3% in May.
Analysts had expected the index to remain unchanged in June.
The index fell as a result of lower prices for petroleum and coal products which fell 2.3%.
Following the release of the data the Canadian dollar was up against its U.S. counterpart, with USD/CAD shedding 0.40% to hit 1.0346.