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Manufactured goods cost slightly more in March

Published by Steve Coleman on May 07, 2012

Canadian prices for goods were 0.9 per cent higher in March compared to the same time a year earlier.

Statistics Canada's Industrial Product Price Index was up 0.2 per cent for the month of March, led by higher prices for petroleum and coal products.

The cost of buying fuel rose 1.8 per cent for the month, while fruit vegetables and livestock feeds were 0.8 per cent pricier. Wood products cost an addition 0.7 per cent by the end of the month.

Primary metal products turned out to be an anchor on prices, falling a full percentage point during the month.

The government agency's Raw Materials Price Index (RMPI) was 1.6 per cent lower in March, its second-consecutive monthly decrease. The decline was mostly the result of mineral fuels (3.6 per cent less), particularly crude petroleum (a 3.8 per cent decrease).

Compared with the same month a year earlier, the RMPI was down 5.6 per cent, its first decrease since October 2009.

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