Statistics Canada released its industrial product and raw materials price indexes on Friday. The Industrial Product Price Index (IPPI) dropped 0.6% in March, missing expectations for a 0.1% rise, after a 1.0% decline in February. February's figure was revised up from a 1.1% fall.

The decrease was mainly driven by lower prices for motorized and recreational vehicles, which plunged 2.9% in March.

18 of the 21 commodity groups decreased, while 3 rose.

The Raw Materials Price Index (RMPI) climbed 4.5% in March, after a 0.7% increase in February. February's figure was revised up from a 2.6% drop.

The rise was driven by higher prices for crude energy products. Crude energy products jumped by 14.3% in March.

3 of the 6 commodity groups rose and 3 decreased.