Forexpros – Canada’s raw materials price index rose unexpectedly in September, increasing for the first time in five months, official data showed on Monday.
In a report, Statistics Canada said the raw materials purchase price index rose by a seasonally adjusted 1.4% in September, confounding expectations for a 2.4% drop.
The raw material price index fell by an unrevised 3.2% in August.
The RMPI rose at an annualized rate of 15.2% in September, after rising at a rate of 13.3% in the previous month.
The rise in the RMPI was attributed to higher prices for crude oil.
The data also showed that the industrial product price index rose 0.4% in September, beating expectations for a 0.1% increase, after gaining 0.4% in August, whose figure was revised down from a 0.5% increase.
Year-over-year, the IPPI rose at an annualized rate of 5.3% in September, after climbing at a rate of 5.2% in August.
Led by higher motor vehicle prices, the IPPI rose for a second consecutive month.
Following the release of the data, the Canadian dollar remained lower against its U.S. counterpart, with USD/CAD rising 0.42% to trade at 0.9960.
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