UPDATE 2-Canada factory prices fall, rate hike still seen

Newswire

(Adds analysts, detail throughout) By Louise Egan OTTAWA, June 28 (Reuters) - Canadian producer prices fell unexpectedly in May as the currency rose sharply, but analysts said the good news on the inflation front was unlikely to stop the Bank of Canada from hiking interest rates in July. Statistics Canada reported on Thursday that factory prices fell 0.5 percent in May from April, largely as a result of a drop in motor vehicle sales, which are priced in U.S. dollars. Higher prices ...

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