The Canadian Press

The Industrial Products Price Index and the Raw Materials Price Index rose 0.3% and 3.3% respectively in January, led by a rebound in petroleum prices.

Petroleum and coal prices rebounded 4.4% in January, the biggest contributor to the industrial products increase, followed by primary metal products, which rose 1.7%.

Excluding petroleum and coal prices, Statistics Canada reports the industrial index edged down 0.1% after two straight monthly gains.

The increase in primary metal products was offset mainly by a decline in motor vehicles and other transportation equipment, down 0.7%, partly due to a 1.1% appreciation in the Canadian dollar.

The industrial index was down 0.3% in January compared with the same month a year earlier.

The raw materials index was pushed up by rising prices for mineral fuels, particularly crude oil, which rose 5.6%.

Raw materials prices jumped 29.3% from a year earlier, as a result of sharply higher prices for mineral fuels (up 62.3%) and non-ferrous metals (up 39.6%). All other groups posted declines.