June 28, 2013 / 12:58 PM / 6 years ago

Canada producer prices flat in May, raw material prices up

OTTAWA (Reuters) - Canadian producer prices were unchanged in May from April as higher prices for petroleum and coal products offset declines in primary metal product and lumber prices, Statistics Canada said on Friday.

Analysts had predicted a 0.1 percent advance in May over April. Statscan revised April’s month-on-month decline to 0.9 percent from an initial 0.8 percent drop.

Of the 21 major product groups, seven increased, eight fell and six were unchanged. Petroleum and coal products climbed by 1.1 percent after two consecutive declines, pushed higher by a 3.6 percent jump in the price of gasoline.

Primary metal products slipped by 1.1 percent in part due to lower prices for gold, gold alloys, silver and platinum. With the exception of February, prices for primary metal products have been falling since the start of 2013.

Raw materials prices rose by 0.2 percent as animals and animal product advanced 2.8 percent on higher prices for hogs and cattle destined for slaughter.

Reporting by David Ljunggren; Editing by Bernadette Baum

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