Source: The Canadian Press

The Industrial Product Price Index and the Raw Materials Price Index rose 0.5% and 1.7% respectively in October.

Statistics Canada attributed both increases largely to increases in petroleum and metal product prices.

The agency says the gain in the industrial index was led by higher prices for petroleum and coal products (up 4.5%), primary metal products (1.3) and, to a lesser extent, chemical products (0.9).

October’s industrial advance was moderated by a 0.9% decline in motor vehicles and other transportation equipment along with lower prices for pulp-and-paper products (down 0.8%) and electrical and communication products (down 0.9) — all due to the advancing Canadian dollar.

The industrial index was up 2.3% in October from a year earlier.

StatsCan says the raw materials index rose primarily because of higher prices for mineral fuels (up 2%), non-ferrous metals (2.8) and vegetable products (5.1), while crude oil prices were up 2.5%.

In October, lower prices for animal and animal products (down 1.4%) slightly moderated the raw materials increase.

Compared with the same month a year earlier, the raw materials index was up 5%.