(Reuters) – Canada’s producer prices increased by 4.0% in March after higher petroleum product prices. Statistics Canada released this information on Friday. It was the biggest monthly increase since January 1956, when the series started.

This was the seventh successive monthly rise in producer price index. It follows a 2.6% downwardly revised gain in February. The raw materials prices increased 11.8% from February to March.

INDUSTRIAL PRODUCT PRICE CHANGES (% Change)

Month-on-month Year-on-year

Mar Feb (rev), February(prev), March Feb(rev), and Feb (2(prev), respectively. Mar Feb, Feb(rev), and Feb (3(prev), respective)

Total +4.0 +2.6+3.1 +18.5 +16.4

ex-petrol +2.3 +2.0 +2.3s+13.9 +13.1

RAW MATERIALS PRICE INDEX (% Change)

Month-on-month Year-on-year

Mar Feb (rev), February(prev), Mar Feb Feb(rev), Mar Feb[rev] Feb(prev), Mar Feb[rev] Feb(prev), Mar Feb[rev] Feb(prev),

Total +11.8 +6.4+6.0+42.7 +30.3+29.8

Ex crude oil +6.8 +3.1+2.6 +24.3+16.8 +16.0