Canada's raw materials prices jump 7.5% in June

On monthly basis, however, prices declined 1.4%

By Ovunc Kutlu

ISTANBUL (AA) - Prices of raw materials purchased by manufacturers operating in Canada, measured by the Raw Materials Price Index (RMPI), jumped 7.5% in June, compared to the same month of last year, according to official figures released Friday.

This marked the fourth consecutive year-on-year increase for the figure.

The annual figure for May was revised down to an increase of 6.9% from a gain of 7.6%.

On a monthly basis, however, the RMPI declined 1.4% in June, following a 1.5% decrease in May that was revised from a fall of 1%.

Prices for crude energy products were the largest driver of the RMPI's monthly decline in June, by falling 1%, and marking its second monthly decrease in a row, Statistics Canada said in a statement.

"Synthetic crude oil prices fell 3.1% month over month in June while conventional crude oil prices edged down 0.1%," it added.

Prices for crop products decreased 1.9% on a monthly basis in June, after increasing over the previous three months.

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