OTTAWA (Reuters) - Canada’s producer price index rose for the first time in several months in September, increasing by 0.5 percent from August on higher prices for metals and energy products, Statistics Canada said on Tuesday.
Market analysts had expected prices to go up by 0.1 percent. The September increase was the largest since the 1.0 percent jump recorded in March 2011.
Of the 21 major commodity groups, five were up, 13 fell, while three were unchanged. Prices for primary metals products increased by 5.1 percent while petroleum and coal products prices grew by 2.7 percent.
Raw material prices rose by 1.3 percent from August on an 8.8 percent jump in non-ferrous metals, which posted their largest gain since April 2009. Analysts had predicted a 1.1 percent advance.
Compared with September 2011, industrial product prices slid by 0.3 percent, the second consecutive year-on-year drop. Raw material prices dropped by 3.9 percent from September 2011, the seventh consecutive year-on-year decline. (Reporting by David Ljunggren; Editing by Jeffrey Hodgson)