Canada’s industrial producer prices rose 0.9% month-over-month in November, marking the sixth consecutive monthly increase and following an upwardly revised 1.7% gain in October. Energy and petroleum products led the monthly rise (+4.3%), driven by higher refined petroleum prices as diesel jumped 7.9% and finished motor gasoline climbed 1.5% on tighter distillate margins and supply concerns. Primary non-ferrous metal products also rose (0.8%), with unwrought silver and silver alloys up 3.2% and unwrought gold and gold alloys up 1.2% as traders priced in anticipated US rate cuts and supply tightness. Food-related prices increased as well, with fruit, vegetables, feed and other food products up 1.3% month-on-month (led by a 7.3% rise in grain and oilseed products). On a yearly basis, the IPPI was up 6.1% in November, its 14th straight annual increase, with unwrought gold, silver and platinum group metals and their alloys posting outsized year-on-year gains.