Investing.com - Canada's raw materials price index rose more than expected in June, official data showed on Wednesday.
In a report, Statistics Canada said the raw materials purchase price index advanced by a seasonally adjusted 1.1% in June, above expectations for a 0.6% gain. The raw material price index declined by 0.3% in May.
The RMPI rose at an annualized rate of 9.2% in June, after rising at a rate of 7.7% in the previous month.
The data also showed that the industrial product price index dipped by a seasonally adjusted 0.1%, missing expectations for a 0.3% increase, after falling 0.5% in May.
Year-over-year, the IPPI rose at an annualized rate of 3% in June, after increasing at a rate of 3.4% in the preceding month.
Following the release of the data, the Canadian dollar was lower against its U.S. counterpart, with USD/CAD rising 0.33% to trade at 1.0889.