Canada's industrial product prices rise 0.1% in March

By Ovunc Kutlu

ISTANBUL (AA) - Canada's industrial product price index (IPPI) rose 0.1% in March, compared to the previous month, according to figures released Wednesday.

The index, which measures the change in the price of domestically produced goods sold by manufacturers, was much lower than estimates of a 1.6% increase, while it declined 0.6% in February.

On an annual basis, on the other hand, the index fell 1.8% in March.

"Prices for energy and petroleum products fell 2.7% month over month in March," Statistics Canada said in a statement.

"Prices for crude energy products fell 3.3% in March, a fifth consecutive monthly decrease. In March, the price of conventional crude oil declined 3.4% month over month and was 28.2% lower compared with March 2022," it added.