Canada March producer prices up 4.0%, biggest monthly gain in 66 years

(Reuters) – Producer prices in Canada rose by a record 4.0% in March from February, on higher prices for energy and petroleum products, Statistics Canada said on Friday. This was the largest monthly gain since the series began in January 1956.

It was the seventh consecutive monthly increase for the producer price index and followed a downwardly revised 2.6% gain in February. Raw materials prices were up 11.8% in March from February.

INDUSTRIAL PRODUCT PRICES (% change)

Month-on-month Year-on-year

Mar Feb(rev) Feb(prev) Mar Feb(rev) Feb(prev)

total +4.0 +2.6 +3.1 +18.5 +15.8 +16.4

ex energy/petrol +2.3 +2.0 +2.3 +13.9 +13.1 +13.5

RAW MATERIALS PRICE INDEX (% change)

Month-on-month Year-on-year

Mar Feb(rev) Feb(prev) Mar Feb(rev) Feb(prev)

total +11.8 +6.4 +6.0 +42.7 +30.3 +29.8

ex crude energy +6.8 +3.1 +2.6 +24.3 +16.8 +16.0

(Reporting by Dale Smith)