OTTAWA, Jan 29 (Reuters) - Canadian producer prices slipped in December for the fifth month in a row, driven mainly by lower prices for energy and petroleum products, data from Statistics Canada showed on Friday.
Prices were down 0.2 percent, a touch shy of economists’ expectations for a decline of 0.3 percent. Since July, the index has lost 1.7 percent.
Energy and petroleum products slumped 5.4 percent, the largest decrease since last January when the drop in crude oil prices was accelerating. Excluding this sector, producer prices were up 0.6 percent.
A 2.1 percent increase in prices for motorized and recreational vehicles helped moderate the decline in the overall index. Higher prices in the sector were linked to the drop in the Canadian dollar against its U.S. counterpart.
Lower prices for crude energy products also weighed on the raw materials price index, which tumbled 5.0 percent, steeper than the 4.0 percent decline that had been forecast.
Reporting by Leah Schnurr; Editing by Phil Berlowitz