Producer prices in Canada increased by 1.4 per cent in November, the most in almost three years, thanks mainly to higher prices for energy and energy products, Statistics Canada said on Thursday.

Analysts polled by Reuters had forecast prices would grow by 0.8 per cent from October. The advance was the largest since the 1.9 percent recorded in February 2015.

Of the 21 major commodity groups, 16 were up, four fell and one remained unchanged.

Prices for energy and petroleum products strengthened for the fifth straight month, jumping by 6.3 per cent on higher demand for gasoline, light fuel oils and diesel fuel. The increase was the largest since May 2016.

Prices for motorized and recreational vehicles grew by 0.7 per cent thanks largely to a 1.3 per cent fall in the value of the Canadian dollar against the greenback in November.

Many vehicles are priced in U.S. dollars and become more expensive when the Canadian currency weakens. The producer price index would have increased by 1.1 per cent had the exchange rate stayed constant.

Raw material prices rose by 5.5 per cent, pushed up by higher prices for crude energy products. Analysts had expected a 4.5 per cent gain.