According to Statistics Canada, prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), increased 1.2 percent month over month in May and increased 13.6 percent on a yearly basis. Prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), gained 0.7 percent from April to May and increased 33.4 percent year over year in May.
The IPPI was up 1.2 percent month over month in May, marking its fifth consecutive monthly increase.
The IPPI was up 13.6 percent year over year in May 2026, the index's 20th consecutive month of year-over-year increase.
In May, the RMPI increased 0.7 percent month over month, mainly driven by higher prices for crop products (+2.2 percent) and metal ores, concentrates and scrap (+0.5 percent). Excluding crude energy products, the RMPI increased 1.4 percent.
The RMPI increased 33.4 percent year on year in May. Excluding crude energy products, the RMPI posted a 22.9 percent year over year rise in May.
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