October 31, 2016 / 12:37 PM / 3 years ago

Canadian September producer prices rise 0.4 percent on energy, autos

Cars drive in heavy traffic on the Gardiner Expressway in Toronto, June 29, 2015. REUTERS/Mark Blinch

OTTAWA (Reuters) - Canadian producer prices rose by 0.4 percent in September from August, pushed up by higher prices for energy and petroleum products as well as motorized vehicles, Statistics Canada said on Monday.

Analysts polled by Reuters had forecast a 0.2 percent month-on-month gain. Of the 21 major commodity groups, 15 rose, five fell, and one was unchanged.

Prices for energy and petroleum products advanced by 0.9 percent on higher prices for light fuel oils, motor gasoline. Prices for motorized and recreational vehicles increased by 0.6 percent, largely due to a 0.9 percent depreciation of the Canadian dollar against the greenback in September.

Many vehicles are priced in U.S. dollars, which means prices go up when the Canadian currency weakens. The overall industrial product price index fell by 0.5 percent from September 2015 compared to a 1.3 percent year-on-year decline in August.

Raw materials prices dipped by 0.1 percent on weaker prices for cattle and calves as well as hogs. Of the index’s six major commodity groups, three rose and three fell.

Reporting by David Ljunggren; Editing by Chizu Nomiyama

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