Canada’s industrial producer prices rose 0.7% month-over-month in July, picking up from a 0.5% gain in June and above market expectations of 0.3%. The advance was led by a 2.7% increase in energy and petroleum products, driven by refined petroleum energy products (+2.8%), particularly diesel fuel (+6.6%) amid low distillate stock levels. Primary non-ferrous metal products also rose 2.7%, boosted by higher prices for unwrought gold, silver, and platinum group metals, and their alloys (+3.8%). Unwrought platinum group metals and their alloys (+12.4%) and unwrought silver and silver alloys (+4.8%) drove the gain, while unwrought gold and gold alloys edged lower (-0.3%). Meanwhile, costs for electrical, electronic, audiovisual and telecommunication products climbed 1.2% after two consecutive monthly declines, while meat, fish, and dairy products (+0.6%) extended their run of increases to eight straight months.