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UPDATE 1-Canada Feb producer prices fall by most in over a year

Published 2016-03-29, 08:38 a/m
© Reuters. UPDATE 1-Canada Feb producer prices fall by most in over a year

OTTAWA, March 29 (Reuters) - Canadian producer prices saw
their largest drop in over a year in February, pulled down by
cheaper energy and petroleum products, as well as lower prices
for vehicles, data from Statistics Canada showed on Tuesday.
Prices fell 1.1 percent, far exceeding economists'
expectations for a decline of 0.2 percent. It was the largest
decline since December 2014.
The decrease was driven by a 4.1 percent drop in prices for
energy and petroleum products. February's recovery of the
Canadian dollar against its U.S. counterpart helped to drive
prices for vehicles down 1.8 percent.
Overall, the decline in prices was broad-based, with 15 of
the 21 major commodity groups lower.
The decline in the cost of crude energy products also sent
raw materials prices down 2.6 percent, surpassing expectations
for a drop of 0.9 percent. A decrease in the cost of crop
products, such as canola and wheat, also weighed on raw
materials prices.

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