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Canadian industrial products, raw materials prices rise in April

Prices for Canada's industrial products and raw materials rose in April after posting gains in the previous month, according to the latest report from Statistics Canada.

Prices for industrial products rose for the fourth straight month, with the industrial product price index gaining 0.5% in April after a 0.9% increase in the previous month. Higher prices for energy and petroleum products drove the gain with an increase of 4.5%.

The index excluding energy and petroleum products slipped 0.1% in April.

Raw materials prices edged up 0.7% in April, following a 2.1% gain in the previous month, driven by higher prices for crude energy products, which rose 3.2%. A 2.9% decline in prices for animals and animal products moderated the gain in the index.

For the 12-month period that ended in April, the industrial product price index rose 2.4%, matching the gain in March, while the raw materials price index jumped 8.9%, compared to a 10.0% year-over-year gain a month earlier.