INDUSTRIAL PRODUCTS PRICE INDEX UP 7.8 PERCENT ON YEAR IN CANADA

INDUSTRIAL PRODUCTS PRICE INDEX UP 7.8 PERCENT ON YEAR IN CANADA

Canada's July industrial products price index declined by 0.1 percent from June but rose by 7.8 percent on the year, Statistics Canada said Tuesday.

Canada's July raw materials price index declined by 1.5 percent from June but rose by 4.2 percent year-on-year.In June, the industrial product price index rose by a revised 0.8 percent on the month and by a revised 8.4 percent year on year, compared to up 0.7 percent on the month and up 8.3 percent on the year originally posted.

In June, the raw materials price index rose by a revised 0.1 percent on the month and rose by a revised 7.1 percent on the year, compared to down 0.2 percent on the month and up 6.9 percent on the year originally posted.

In July, "the 12-month change in industrial prices continued to slow for a fourth consecutive month," Statistics Canada said.

However, the relatively high year-on-year rise for industrial prices was prompted by a "combination of exchange rate movements, the relatively large role of non-ferrous metals, paper and allied products in the Canadian economy, and a relatively low rate of wage and consumer price inflation."