UPDATE 1-Canada January producer prices gain 0.3 pct

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OTTAWA, March 1 (BestGrowthStock) – A recovery in oil prices pushed
up Canadian producer prices by 0.3 percent in January from
December, Statistics Canada said on Monday. Raw materials
prices jumped 3.3 percent in the month following a December
decline.

Analysts surveyed by Reuters had expected industrial prices
to climb 0.5 percent in the month and had forecast a 2.5
percent increase in raw materials prices.

Petroleum and coal prices contributed most to the rise in
the producer price index with a 4.4 percent jump in January,
Statscan said.

Compared with a year earlier, prices slipped 0.3 percent,
pulled down mainly by the appreciation of the Canadian dollar
against the U.S. currency.

Oil prices were also the main factor pushing up raw
materials in the month of January. Raw materials prices rose
29.3 percent year-on-year thanks to sharply higher prices for
mineral fuels and nonferrous
metals.
Investing Research

(Reporting by Louise Egan; Editing by Theodore d’Afflisio)

UPDATE 1-Canada January producer prices gain 0.3 pct