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Canadian Industrial Product And Raw Materials Prices Fall In June

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07/29/2010 08:59

Canadian industrial product and raw materials prices unexpectedly fell in June, official data showed Thursday.

Statistics Canada's Industrial Product Price Index (IPPI) fell 0.9% in June, led by petroleum and metals.

The Raw Materials Price Index (RMPI) declined 0.3%, largely because of lower prices for non-ferrous metals and animal products.

Economists were looking for raw materials prices to rise 1% after a revised decrease of 7.3% in May. Industrials product prices were expected to rise 0.5%, following a revised 0.4% gain in May.

June's downturn in the IPPI came after two consecutive monthly advances. The IPPI decrease was mainly driven by lower prices for petroleum and coal products

The Raw Materials Price Index (RMPI) was down 0.3% in June following a 7.3% drop in May. It was the second consecutive monthly decrease after four successive gains.

In June, the decline in the RMPI was mainly a result of lower prices for non-ferrous metals (-6.7%) and, to a lesser degree, animals and animal products (-2.2%).

(Market News Provided by RTTNews)

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