Energy, petro products drive producer prices up 0.1%
Canadian producer prices edged up 0.1 per cent in September from August on higher prices for chemicals and energy and petroleum products, Statistics Canada said on Wednesday.
Analysts in a Reuters poll had predicted no change from August, when prices dropped by 0.5 per cent. Of the 21 major commodity groups, 10 rose, seven fell and four were unchanged.
Chemicals and chemical products posted a 1.6-per cent gain as petrochemical prices jumped by 6.3 per cent on higher demand for ethylene on the U.S. Gulf Coast, where domestic production has been hit by hurricanes.
Energy and petroleum product prices broke a three-month stretch of declines, rising by 0.8 per cent on higher demand for diesel fuel and light fuels.
Raw materials prices fell by 0.9 per cent on less demand for conventional fuel oils. Metal ores, concentrates and scrap also posted declines.