Investing.com - Canada''s raw materials price index rose less than expected in March, official data showed on Wednesday.
In a report, Statistics Canada said the raw materials purchase price index advanced by a seasonally adjusted 0.6% in March, below expectations for a 1.2% gain. The raw material price index rose by 5.7% in February.
The RMPI rose at an annualized rate of 6.1% in March, after rising at a rate of 3.9% in the previous month.
The data also showed that the industrial product price index rose by a seasonally adjusted 0.4%, missing expectations for a 0.6% increase, after rising 1.2% in February.
Year-over-year, the IPPI rose at an annualized rate of 2.7% in March, after increasing at a rate of 2.1% in the preceding month.
Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD rising 0.14% to trade at 1.0960.