Producer Prices Up 0.3% in November
CBJ — Canadian producer prices increased by 0.3% in November from October on higher costs for vehicles and primary non-ferrous metal products.
According to figures released by Statistics Canada, prices rose in 14 of the 21 major commodity groups, fell in two and were unchanged in the other five.
Prices for motorized and recreational vehicles climbed by 1.1%, largely due to a 1.4% decline in the Canadian dollar against the greenback. Many vehicles are priced in U.S. dollars and become more expensive when the Canadian currency weakens.
Prices for primary non-ferrous metal products advanced by 2.3%, pushed up by gains for un-wrought copper and copper alloys. The prices for energy and petroleum products fell by 2.2%, in part due to cheaper gasoline.
Raw material prices dropped by 2.0% from October, pulled down by declines for crude energy products. Higher prices for metal ores, concentrates and scrap – which jumped by 4.0% – helped moderate the decrease.