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MNI BRIEF: Canada March Factory Gate Prices Up Most Since 1956

(MNI) OTTAWA
(MNI) Ottawa

Prices of goods as they left Canadian factories jumped the most in records back to 1956 on a monthly basis, climbing 4.0% in March, led by petroleum as the Ukraine invasion squeezed global markets.

Statistics Canada's Industrial Price Index climbed 19% from a year earlier, the most since 1974, the agency said Friday. The agency's raw materials index jumped 12% in March and 43% over 12 months.

The results come after BOC Governor Tiff Macklem told reporters Thursday night he wouldn't rule out raising interest rates more than 50bp to fight stubborn inflation.

MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com
MNI Ottawa Bureau | +1 613-314-9647 | greg.quinn@marketnews.com

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