According to Statistics Canada, prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), declined 1.4 percent month over month in June and increased 12.4 percent on a yearly basis. Prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), decreased 6.9 percent from May to June and increased 20.7 percent year over year in June.
The IPPI declined 1.4 percent month over month in June, following five consecutive monthly increases from January through May.
The IPPI was up 12.4 percent year over year in June 2026, the index's 21st consecutive month of year-over-year increase.
In June, the RMPI decreased 6.9 percent month over month, the largest monthly decline for the index since July 2022, mainly driven by lower prices for crude energy products (-13.7 percent) and metal ores, concentrates and scrap (-5.1 percent). Excluding crude energy products, the RMPI decreased 2.7 percent.
The RMPI increased 20.7 percent year on year in June, slowing from a 33.4 percent year over year gain in May. Excluding crude energy products, the RMPI increased 18.6 percent year over year in June.
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