OTTAWA, July 29 (Reuters) – Canadian producer prices rose in June as the cost of energy and petroleum products increased for a fourth month in a row, data from Statistics Canada showed on Friday.
The 0.6 percent increase was a touch above economists’ expectations for a 0.5 percent gain. Overall, 14 of the index’s 21 major components were higher.
Energy and petroleum products were the biggest contributor, climbing 3.9 percent due to higher prices for motor gasoline and other fuels.
Meat, fish and dairy products also contributed to the month’s gain, rising 1.5 percent on higher prices for fresh and frozen pork.
The gauge of raw materials prices increased by 1.8 percent on higher prices for crude energy products, including a 3.6 percent increase in conventional crude oil. Excluding crude products, the raw materials index was up just 0.6 percent.