Industrial Prices, Raw Material Figures Out

Canada’s industrial product price index fell more than expected last month, according to data released Tuesday morning by Statistics Canada.

The agency noted the index fell to -1.1%, from 0.5% in January. Analysts were bracing for a fall of 0.2%. The drop was attributed mostly to lower prices for energy and petroleum products.

The index declined 1.4% over the 12-month period ending in February, after increasing 1.7% in January.

StatsCan also reported that its raw materials price index (RMPI) went south 2.6% in February, mainly as a result of lower prices for crude energy products.

The RMPI declined 15.1% over the 12-month period ending in February.