Statistics Canada released its industrial product and raw materials price indexes on Monday. The Industrial Product Price Index (IPPI) climbed 0.5% in May, after a 0.9% drop in April.

The increase was driven by higher prices for energy and petroleum products. Energy and petroleum products rose 5.0% in May.

15 of the 21 commodity groups declined, 3 increased and 3 were unchanged.

The Raw Materials Price Index (RMPI) climbed 4.4% in May, after a 4.0% rise in April. April's figure was revised up from a 3.8% increase.

The increase was driven by higher prices for crude energy products. Crude energy products soared 8.8% in May.

3 of the 6 commodity groups rose and 3 decreased.