Canada producer prices drop 0.8 percent in November on cheaper energy

Canada producer prices drop 0.8 percent in November on cheaper energyCanada producer prices drop 0.8 percent in November on cheaper energy

OTTAWA (Reuters) – Canadian producer prices fell by 0.8 percent in November from October, the largest drop in almost two years, thanks largely to cheaper energy and petroleum products, Statistics Canada said on Friday.

Of the 21 major commodity groups tracked by the agency, 17 rose, three fell and one was unchanged.

Prices for energy and petroleum products fell by 6.6 percent, the greatest month-over-month drop since the 7.5 percent decline recorded in January 2016. Gas prices plummeted by 10.7 percent, the biggest plunge since the 12.0 percent seen in January 2015.

Prices for chemicals and chemical products slipped by 1.6 percent on weaker demand for petrochemicals.

Raw materials prices fell 11.7 percent, the largest drop in at least eight years, on lower price for crude energy products amid a global supply glut.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.