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UPDATE 1-Canada Aug producer prices fall as energy declines

Published 2015-09-29, 08:35 a/m
© Reuters. UPDATE 1-Canada Aug producer prices fall as energy declines

(Adds details from report)
OTTAWA, Sept 29 (Reuters) - Canadian producer prices fell
slightly more than expected in August after three consecutive
months of gains, driven by the lower cost of energy and
petroleum products, data from Statistics Canada showed on
Tuesday.
The 0.3 percent decline exceeded analysts' forecasts for a
decrease of 0.2 percent. Still, the declines were not
widespread, with just two of the 21 major commodity groups down
on the month.

Prices for energy and petroleum products dropped 4.7
percent, the largest decline since January as the price of crude
oil has slumped. Excluding the energy group, producer prices
rose 0.4 percent.
Lower prices for chemicals and chemical products also
weighed on overall producer prices. That was moderated by a 1.4
percent increase in the price of motorized and recreational
vehicles due to the depreciation of the Canadian dollar.
Raw materials prices saw their largest decline since January,
falling 6.6 percent on lower prices for crude energy products.
Compared to a year ago, raw materials costs were down 24.7
percent, the largest yearly decline since August 2009.

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