UPDATE 1-Dollar strength boosts Canadian July producer prices

* Producer prices edge up 0.1 percent in July from June

* Raw materials gain 1.8 percent in the month
(Adds details)

OTTAWA, Aug 30 (BestGrowthStock) – Strong prices for primary metals
products and a strengthening Canadian dollar helped nudge up
overall producer prices by 0.1 percent in July following a
sharp 0.9 percent drop in the previous month, Statistics Canada
said.

Raw materials prices climbed 1.8 percent on a monthly basis
in July on the strength of crude oil prices. They had declined
0.2 percent in June.

Analysts surveyed by Reuters had expected 0.4 percent
increases in both the industrial product price index and the
raw materials price index.

Primary metals products jumped 1.4 percent in value,
outweighing the 0.9 percent drop in energy prices. The Canadian
dollar appreciated against the U.S. dollar by 0.5 percent in
July, boosting prices for exports like autos and pulp and paper
products.

But the overall impact of the exchange rate was modest,
Statscan said. Without the effect of currency swings, producer
prices would have been flat.

Raw materials prices were lifted by a 1.8 percent jump in
mineral fuels, as well as by lesser increases in nonferrous
metals and vegetable products.
(Reporting by Louise Egan, Editing by Chizu Nomiyama)

UPDATE 1-Dollar strength boosts Canadian July producer prices