Canadian producer prices rose in January for the first time in six months as higher costs for vehicles offset lower energy prices, data from Statistics Canada showed on Monday.
Prices were up 0.5 per cent, against economists’ expectations for no change. December’s figures were revised down slightly to a decline of 0.3 per cent from an initially reported 0.2 per cent decrease. January’s gain was the first increase since July. Among the 21 major commodity groups, 18 were up, including a 2.7 per cent increase in the cost of motorized and recreational vehicles. The higher prices were closely linked to a recent drop in the Canadian dollar against the greenback, the agency said.
Read the full article at: www.theglobeandmail.com
