Statistics Canada reported today that the Industrial Product Price Index increased 0.4% in August, led by primary metal products.
The Raw Materials Price Index rose 2.2%, primarily based on higher prices for non-ferrous metals.
Also reported was that among the 21 major product groups, 10 posted gains while five decreased and the rest remained unchanged.
The industrial advance was mostly led by higher prices of primary metal products, which advanced 3.3% and minor increases in the cost of petroleum and oil (up .4%).
The price of pulp and paper products decreased by .4% while rubber, leather and plastic products were down by .5%.
The industrial index rose 0.6% from a year earlier, as raw-material prices climbed 5%.
Contributing to the rise in raw materials, prices for non-ferrous metals rose by 6.3% and mineral fuels were up 1.3%.
Higher prices of vegetable products (up 3.1%) and animal and animal products (up 1.5%) also contributed to the raw materials increase according to StatsCan.
