Manufactured goods, raw materials prices hit record highs in April

Mineral Raw Materials A second straight rise in petroleum prices droveindexes for manufactured goods and raw materials prices to recordlevels in April. Prices charged by manufacturers, as measured by the IndustrialProduct Price Index, rose 1.4 per cent after rising 1.8 in March. Statistics Canada reports the increase was almost entirely drivenby petroleum and coal products, which continued their upward climbwith an increase of 7.9 per cent. Prices of non-energy products grew 0.5 per cent, largely on thestrength of chemical products and motor vehicles and othertransport equipment. The index was up one per cent over a year earlier. The Raw Materials Price Index hit a new high with a monthlyincrease of 5.1 per cent in April, after a 6.7 per cent rise inMarch. Statistics Canada attributed the rise mainly to strong prices formineral fuels, without which the index would have fallen 1.2 percent. Raw materials cost plants 23 per cent more than a year earlier,primarily due to higher prices for mineral fuels and vegetableproducts.