According to Statistics Canada, prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), increased 1.3 percent month over month in August and increased 13.5 percent year over year. Prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), rose 3.1 percent from July to August and increased 22.8 percent year over year in August.
The IPPI was up 1.3 percent month over month in August, after edging up 0.3 percent in July.
The IPPI was up 13.5 percent year over year in August 2026, the 23rd consecutive month of year-over-year increase for the index.
In August, the RMPI increased 3.1 percent month over month, mainly driven by higher prices for crude energy products (+7.1 percent) and metal ores, concentrates and scrap (+4.0 percent). Excluding crude energy products, the RMPI was up 1.1 percent.
The RMPI increased 22.8 percent year over year in August, following an 18.2 percent year over year gain in July. Excluding crude energy products, the RMPI increased 17.2 percent year over year in August.
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