June 29, 2018 / 12:49 PM / 3 months ago

Canada May producer prices rise 1 percent, the most in six months

OTTAWA (Reuters) - Canadian producer prices rose by 1.0 percent in May from April, the fifth consecutive increase, on higher prices for energy and petroleum products, Statistics Canada said on Friday.

Of the 21 major commodity groups, prices were up in 17, down in one, leaving three unchanged. The advance was the greatest since the 1.5 percent jump seen in November 2017.

Energy and petroleum products prices posted a 4.0 percent gain on higher prices and increased demand for crude oil. Prices for lumber climbed by 3.1 percent on increased housing construction in the United States.

The three major metal commodity groups all posted gains, with fabricated metal products and construction materials rising by 1.9 percent.

The raw materials price index rose by 3.8 percent on higher prices for crude energy products.

Reporting by David Ljunggren; Editing by Chizu Nomiyama

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