Canada March producer prices rise on energy, petroleum

OTTAWA: Producer prices in Canada grew by 1.3 percent in March, the second consecutive month-on-month increase, on higher prices for energy and petroleum products, Statistics Canada said on Tuesday.

Analysts in a Reuters poll expected a 0.7 percent increase from February. The gain in the industrial product price index was widespread, with 16 commodity groups up, one down and four unchanged.

Prices for energy and petroleum products as a whole jumped by 6.0 percent, with gasoline gaining 11.4 percent. Motorized and recreational vehicles and meat, fish and dairy products also contributed to the increase.

Prices for raw materials climbed by 2.8 percent, the fourth consecutive increase, thanks largely to higher prices for crude energy products.