UPDATE 1-Canada Dec producer prices unchanged, raw materials fall
* Industrial product price index unchanged from Nov
* Excluding stronger C$, prices would have risen 0.2 pct
* Raw material prices fall 2.0 percent, mostly crude oil
* Excluding mineral fuels, raw materials rose 0.9 pct
OTTAWA, Jan 31 (Reuters) - Canadian industrial product prices were unchanged in December from November, partly because of a stronger Canadian dollar, while cheaper crude oil helped push raw materials prices down by 2.0 percent, Statistics Canada said on Thursday.
The industrial prices matched analysts' predictions in a Reuters survey, though the median forecast for raw materials was for a 0.2 percent rise from November.
Excluding an appreciation of 0.7 percent in the Canadian dollar in December, industrial prices would have risen 0.2 percent. Some exporters price their products in U.S. dollars, so when the U.S. dollar falls, the corresponding prices in Canadian dollars drop, too.
Primary metal and lumber products rose while motor vehicles prices fell, largely because of the stronger currency.
On the raw materials side, Statscan said the decrease was almost entirely attributable to lower mineral fuel prices, specifically crude oil, which fell 5.9 percent. Excluding mineral fuels, the index rose by 0.9 percent.
- Malaysia air probe finds scant evidence of attack: sources |
- Search widened as Malaysia air probe finds scant evidence of attack |
- Confrontation in Ukraine as diplomacy stalls |
- Exclusive: Chinese raw materials also found on U.S. B-1 bomber, F-16 jets
- Freescale loss in Malaysia tragedy leads to travel policy questions