July 31, 2018 / 12:58 PM / in 2 years

UPDATE 1-Canadian producer prices rise in June for sixth month in row

(Adds details of release, background)

OTTAWA, July 31 (Reuters) - Canadian producer prices rose 0.5 percent in June from May, the sixth consecutive increase, on higher prices for non-ferrous metal products and motorized and recreational vehicles, Statistics Canada said on Tuesday.

Of the 21 major commodity groups, prices were up in 16, down in four, leaving one unchanged.

Over the 12 months ended in June, the agency’s industrial producer price index rose 5.1 percent, the most since May 2017.

Primary non-ferrous metal products gained 1.5 percent on higher prices for unwrought copper and precious metals and their alloys.

Prices for motorized and recreational vehicles rose by 0.7 percent, thanks largely to a 1.9 percent fall in the value of the Canadian dollar in June. Many vehicles are priced in U.S. dollars and become more expensive when the Canadian currency weakens.

The raw materials price index rose by 0.5 percent on higher prices for animals and animal products, with hogs increasing 23 percent.

Reporting by David Ljunggren; Editing by Steve Orlofsky

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