Canada's IPPI and RMPI for November better than expected

By IBTimes Staff Reporter | January 05 2010 8:49 AM

FXstreet.com (Barcelona) - Canadian industry posted robust numbers for the month of November with the Industrial Product Price Index (IPPI) growing 1.0%, compared to the 0.5% expected by the market, and the Raw Material Price Index (RMPI) increasing by 2.2% over forecasts of more modest growth in the 1.5% range.

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The IPPI showed positive growth for the first time in two months, up from a -0.3% contraction in October, to mark its greatest jump since June, 2008.

The RMPI, for its part, dipped slightly from October's 2.5% but maintained positive growth.

The improvement in the two indexes was primarily due to increased prices for oil and coal products along with primary metals while the depreciation of the Canadian dollar compared to its US counterpart also played a part in the price increases.

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