Statistics Canada released its industrial product and raw materials price indexes on Wednesday. The Industrial Product Price Index (IPPI) rose 0.3% in March, after a 1.8% increase in February. January's figure was revised up from a 0.4% decline.

The increase was driven by higher prices for energy and petroleum products. Energy and petroleum products gained 1.8% in March.

11 of the 21 commodity groups rose, 7 decreased and 3 were unchanged.

The Raw Materials Price Index (RMPI) fell 0.9% in March, missing expectations for a 4.5% rise, after a 5.9% gain in February. February's figure was revised down from a 6.1% increase.

The decline was driven by lower prices for crude energy products. Crude energy products were down 2.8% in March.

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