Canadian producer prices fall in July from June

TORONTO (Reuters) - Canadian producer prices fell 0.2 percent in July from June on lower prices for primary non-ferrous metal products, Statistics Canada said on Friday.

It was the first decline for the agency’s industrial producer price index this year. It followed an upwardly revised 0.7 percent gain in June.

Primary non-ferrous metal products fell 3.3 percent, which was the largest decline since July 2017. A 0.5 percent drop in chemicals and chemical products was also a drag on the index.

Of the 21 major commodity groups, prices were down in seven, up in 10, leaving four unchanged.

Over the 12 months ended in July, producer prices rose 6.6 percent.

Raw materials prices grew by 0.7 percent in July, boosted by higher prices for crude energy prices. On the year, the raw materials price index was up 22.0 percent.

Reporting by Fergal Smith; Editing by David Gregorio