Canada's industrial prices annually rise 2.8% in June

By Ovunc Kutlu

ISTANBUL (AA) - Canada's industrial product price index (IPPI) annually rose 2.8% in June, marking the third straight year-on-year increase last month, according to figures released Friday.

The annual figure for May was revised up to a gain of 2.1%, from an increase of 1.8%.

The biggest contributors to the year-on-year increase in June were unwrought silver and silver alloys that gained 30.5%, and unwrought gold and gold alloys, which increased 23.6%.

On a monthly basis, however, IPPI remained unchanged in June compared to the previous month, coming lower than market expectations of a 0.2% increase.

The monthly IPPI figure for May was also revised up to a gain of 0.2%, from no change.

Prices for meat, fish and dairy products were the largest contributor to the IPPI for the month of June, with a gain of 2.4%, posting its fourth consecutive month-on-month increase, Statistics Canada said in a statement.