Industrial product, raw materials prices rise

The industrial product price index increased one per cent in November, while the raw materials price index rose 2.2 per cent on higher prices for petroleum and metals.

The two indices monitor prices for Canadian exports. Taken together, they are an indicator of wholesale prices for goods before they reach consumers.

The rebound in the industrial index was the strongest since June 2008, Statistics Canada said Tuesday.

The industrial index was mainly pushed up by higher prices for petroleum and coal products (up 4.9 per cent) and primary metal products (up 1.6 per cent), the data agency said .

Excluding petroleum and coal, the index rose 0.5 per cent. Of the 21 major industrial product groups, only one registered a price decline.

The industrial index was down 2.8 per cent in November from a year earlier, its ninth straight year-over-year decrease, but smaller than the 6.4 per cent decrease registered in October.

For its part, the raw materials index has been on the rise since last January, sustained by rising prices for fuel and metals.

Mineral fuels prices rose 2.1 per cent in November, while non-ferrous metals prices increased by 4.8 per cent, which also contributed to the rise.

Raw materials rebounded with a 9.3 per cent hike from November 2008, their first increase after 13 straight declines.