Canada Producer Prices Climb 0.3% in August

By Paul Vieira

OTTAWA--Canadian producer prices climbed for a fourth consecutive month in August, led by higher costs associated with precious metals such as silver.

Canada's industrial product price index climbed 0.3% in August from the previous month, Statistics Canada said Tuesday. Market expectations weren't immediately available.

The index measures the price manufacturers in Canada receive once their goods leave the plant. It doesn't reflect the final prices consumers pay for goods on store shelves.

In August, the steep jump in prices for silver and gold offset declines elsewhere. Of the 21 groups tracked, seven rose, 13 declined and one component remained unchanged.

On a 12-month basis, the producer-price index fell 2.3% in August.

Meanwhile, prices for raw materials, which track prices paid by manufacturers, increased 3.2% in August from the previous month. On a 12-month basis, prices for raw materials dropped 7.6%.

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