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Canadian industrial product and raw materials prices drifted lower in December, impacted by lower petroleum prices, official data showed Friday.
The Industrial Product Price Index (IPPI) and the Raw Materials Price Index (RMPI) fell 0.1% and 1.7% respectively, according to Statistics Canada.
Economists expected both to edge higher.
The IPPI edged down 0.1% after the 0.9% upturn in November. The movement of the index has remained relatively stable since May 2009.
In December, petroleum and coal prices (-1.4%) contributed the most to the decline in the IPPI, while rising prices for primary metal products (+1.2%) tempered the decline in the IPPI.
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