Canada Factory Material Costs Rise Fastest in Two Years on FuelGreg Quinn
Canadian manufacturers’ raw material costs rose at the fastest pace in more than two years in July, government figures showed.
The raw-materials price index increased 4.2 percent as fuel costs jumped 9.1 percent, Statistics Canada said today from Ottawa. Economists predicted a 0.8 percent increase, according to the median estimate in a Bloomberg survey with seven responses.
The industrial product price index, which measures the prices received by manufacturers for their goods, rose 0.3 percent, matching the median economist forecast.
Over the 12 months ending in July, raw material costs rose 7.6 percent and industrial prices rose 1.4 percent, suggesting factory profit margins narrowed.