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.
