Statistics Canada released its industrial product and raw materials price indexes on Thursday. The Industrial Product Price Index (IPPI) fell 0.9% in April, missing expectations for a 0.1% decline, after a 0.2% increase in March. March's figure was revised up from a 0.3% gain.

The decrease was driven by lower prices for energy and petroleum products. Energy and petroleum products were down 3.2% in April.

17 of the 21 commodity groups declined, 2 increased and 2 were unchanged.

The Raw Materials Price Index (RMPI) climbed 3.8% in April, after a 1.5% drop in March. March's figure was revised down from a 0.9% decrease.

The increase was driven by higher prices for crude energy products. Crude energy products soared 9.9% in April.

2 of the 6 commodity groups rose, 3 decreased and 1 were unchanged.