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UPDATE 1-Canadian July producer prices up 0.7 pct on vehicles, aircraft

Published 2015-08-28, 08:38 a/m
© Reuters. UPDATE 1-Canadian July producer prices up 0.7 pct on vehicles, aircraft

(Adds details of release, background)
OTTAWA, Aug 28 (Reuters) - Canadian producer prices
unexpectedly rose 0.7 percent in July, the third consecutive
monthly gain, on higher prices for motorized vehicles and
aircraft, Statistics Canada data indicated on Friday.
Analysts had forecast no change from June. Seventeen of the
21 commodity groups advanced, with two falling and two remaining
unchanged.
A weaker Canadian dollar helped produce a 2.5 percent
increase in prices for motorized and recreational vehicles as
well as aircraft. The value of the currency fell by 4.0 percent
relative to the U.S. greenback in July.
Some exporters price their goods in U.S. dollars, which
means they get more Canadian dollars as the domestic currency
loses value. Had the exchange rate remained constant, producer
prices would have fallen by 0.2 percent from June.
Prices for energy and petroleum products dropped by 1.1
percent.
Raw material prices fell by 5.9 percent in July following a
0.2 percent increase in June, pulled down by a 13.0 percent
slump in crude energy product prices.

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