OTTAWA (Reuters) - Canada’s industrial product prices unexpectedly fell 0.2 percent in April, Statistics Canada said on Friday, mainly because of a decline in primary non-ferrous metal products and the impact of a strengthening Canadian dollar.
Analysts in a Reuters poll had expected producer prices to be flat in the month. The decline in the index in April was the first since October.
Prices for primary non-ferrous metal products fell 1.9 percent, pulled down mostly by unwrought precious metals and precious metal alloys.
Overall, prices fell for 15 major product groups, rose in two, and were unchanged in four.
Excluding the effect of the exchange rate, prices rose 0.1 percent.
Raw materials prices rose 0.1 percent on the month, after a 0.7 percent jump in March, as higher prices for animals and animal products were offset by a drop in crude energy product prices.
On a 12-month basis, industrial product prices rose 3.9 percent and raw materials prices increased 9.1 percent.
Reporting by Louise Egan and Alex Paterson; Editing by Bernadette Baum