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Canadian producer prices rose in July, matching market expectations and the previous month's increase, on higher costs for energy products and motor vehicles, Statistics Canada said Thursday.
The data agency's industrial product price index advanced 0.3% in July, which was in line with market expectations, according to a report from economists at Royal Bank of Canada.
Prices for raw materials used by manufacturers surged 4.2% in July, well above the market consensus for a 0.8% advance and the biggest gain in over two years. The bigger-than-anticipated gain was attributed to a 9.7% rise in crude oil prices.
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