OTTAWA (Reuters) - High demand for precious metals offset the dampening effect of a strong Canadian dollar on motor vehicle exports to lift the country's producer prices in September, Statistics Canada said on Friday.
The industrial product price index rose 0.2 percent in the month, falling short of market forecasts for a 0.3 percent gain, and climbed 1.4 percent in the year to September.
Raw materials prices unexpectedly fell 0.4 percent in the month versus forecasts of a 1 percent jump, dragged down by lower crude oil prices. Raw materials prices were up 5.8 percent from a year earlier.
Primary metals products, which includes precious metals, and to a lesser extent petroleum and coal products largely explained the rise in producer prices, Statscan said.
Prices for motor vehicles and other transport equipment, the weightiest group in the index, fell 0.5 percent in part because of the Canadian dollar's 0.8 percent appreciation against the U.S. dollar.
