Business

Canada's industrial index increases in Nov.

The industrial products price index increased 0.5 per cent in November, while the raw materials price index was up 3.5.

Raw materials index up 3.5%

The industrial products price index increased 0.5 per cent in November, while the raw materials price index was up 3.5 per cent.

Statistics Canada said the upward pressure on both indexes came mainly from petroleum and metals prices.

The agency said prices of petroleum and coal products were up 3.9 per cent and primary metal products rose 0.7.

Statistics Canada attributed those increases largely to strong demand in emerging countries and colder weather in Europe.

The industrial products increase was moderated by a 0.4 per cent decline in prices for motor vehicles and other transportation equipment, largely due to a rise in the Canadian dollar.

The industrial index was 2.1 per cent higher in November than it was a year earlier as 14 of 21 major commodity aggregations were up and seven declined.

Statistics Canada said the advance in the raw materials index was moderated by lower prices for animals and animal products, down 2.5 per cent.

The raw materials index was up 6.8 per cent over the same month a year earlier.