Canadian industrial product and raw materials prices recovered in October from their September declines, the country's statistical agency said.
The industrial product price index advanced 1.0% in October, compared to a 0.3% decline in September. The monthly gain is attributed to higher prices for motorized and recreational vehicles, up 1.5%, and energy and petroleum products, up 1.5%. Prices for primary non-ferrous metal products and chemicals and chemical products also rose during the month.
Year over year, October industrial product prices climbed by 1.8%, compared with a 1.5% increase in the prior month.
October's raw materials price index rose 3.8% after retreating by a revised 0.2% in September. The main upward pressure came from higher prices for crude energy products, up 6.9%. Another significant contribution came from prices of metal ores, concentrates and scrap, which increased by 3.7%.
In annual terms, raw materials prices climbed 6.6% in October, from a revised 6.2% increase in September.
