Prices for Canada's industrial products and raw materials rebound in January after posting declines in December 2017, Statistics Canada's latest report showed.
The industrial product price index edged up 0.3% in January after retreating 0.1% in the prior month, mainly driven by a 3.4% increase in prices for energy and petroleum products.
Prices for primary non-ferrous metal products, and meat, fish and dairy products also posted increases, while prices for motorized and recreational vehicles, and electrical, electronic and audio-visual telecommunications products decreased.
Meanwhile, the raw materials price index climbed 3.3% in January after declining by 0.9% in the prior month, driven by a 5.9% increase in prices for crude energy products. Gains were also posted for prices in animals and animal products, and metal ores, concentrates and scrap.
Over the 12-month period ended January, the industrial product price index rose 2.0%, down from a 2.3% increase in December 2017, while the raw materials price index climbed 7.7%, compared to a 6.2% gain a month earlier.
