OTTAWA (Reuters) - Canada’s industrial product prices rose 0.4 percent in March from February, partly because a lower Canadian currency raises the Canadian price of goods priced in U.S. dollars, Statistics Canada said on Wednesday.
Excluding the measurable effect of the exchange rate, prices rose 0.2 percent. The median forecast in a Reuters survey was for a 0.5 percent overall increase. Higher prices for meat, fish and dairy products were the main reasons. The figures are not seasonally adjusted.
Raw materials prices rose 0.6 percent on the month, less than the 0.8 percent forecast, after February’s 5.7 percent jump.
This was largely due to animals and animal products, especially a 24.3 percent jump in hog prices largely due to the porcine epidemic diarrhea virus.
Reporting by Randall Palmer; Editing by Chizu Nomiyama