November 28, 2013 / 1:57 PM / in 4 years

Cheaper gas, crude cuts Canada industrial, raw prices

A gasoline station in Montreal advertises the price of regular gas at C$1.34.9 ($1.14) a litre, August 31, 2005. REUTERS/Shaun Best

OTTAWA (Reuters) - Cheaper gasoline and crude oil pushed Canadian industrial and raw materials prices lower in October from September’s levels, Statistics Canada said on Thursday.

Gasoline showed its biggest fall since November 2012, of 4.5 percent, as industrial product prices declined 0.3 percent. This followed a 0.2 percent fall in September. Year on year, prices were only 0.8 percent higher, evidence of low inflationary pressures in Canada.

The raw materials price index fell 2.3 percent, as crude oil fell 4.2 percent.

The median forecasts in a Reuters survey of analysts were for a 0.5 percent fall in industrial product prices and a 1.5 percent fall in raw materials prices.

Reporting by Randall Palmer; Editing by Dan Grebler

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