Canada’s industrial producer prices rose 1.5% month-over-month in October, marking the fifth consecutive monthly increase, following an upwardly revised 1.0% gain in September. Non-ferrous metal products (+9.8%) led the increase, with unwrought silver and silver alloys up 17.2% and unwrought gold and gold alloys up 12.0%, posting exceptionally large monthly gains as safe-haven demand and supply tightness pushed precious-metal prices higher. Energy and petroleum products fell 1.0%, with finished motor gasoline down 4.6%, moderating the overall increase. Meat, fish and dairy-related items also contributed, with fresh and frozen beef and veal and poultry registering notable gains. Offsetting some of the upside, lumber and other sawmill products rose 4.3%, led by softwood lumber (+6.9%) after operational curtailments and pre-tariff buying boosted prices. On a yearly basis, producer prices increased 6.0% in October, marking the 13th straight gain, following a 3.7% increase in September.