Canada's industrial product prices rise 0.4% in September

By Ovunc Kutlu

ISTANBUL (AA) - Canada's industrial product price index (IPPI) rose 0.4% in September, compared to the previous month, according to figures released Thursday.

The index, which measures the change in the price of domestically produced goods sold by manufacturers, was slightly higher than estimates of a 0.3% increase, after it jumped 1.9% in August.

On an annual basis, the index posted an increase of 0.6% in September, after remaining unchanged in August.

"Prices for energy and petroleum products rose 3.7% month over month in September, leading the increase in the IPPI," Statistics Canada said in a statement.

While the price of diesel fuel increased 7%, rate for gasoline fell 2.3%. Crude oil, the raw input used to make these products, rose 9.9%.

Prices of raw materials purchased by manufacturers operating in Canada, measured by the Raw Materials Price Index (RMPI), increased 3.5% on a monthly basis in September and rose 2.4% year-on-year.