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Canadian producer prices in February posted the largest monthly gain since June 2008, much stronger than expected, led by higher prices for petroleum and coal products.
The industrial product price index jumped 1.4% following a revised 0.1% gain in January, Statistics Canada said Thursday.
consensus call was for a 0.5% increase, according to a report from Royal Bank
Petroleum and coal products prices were up 6.6%, the biggest gain since March 2011, as costs of gasoline and diesel fuel increased.
motor vehicles and other transportation equipment were up 1.0% as the Canadian
dollar weakened against the
Meanwhile, the cost of raw materials used by manufacturers rose a stronger-than-expected 2.2% as crude oil prices increased. The consensus call was for prices to rise 1.8%. January's gain of 3.8% was unrevised.
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