In September 2026, prices for manufactured products in Canada rose 2% from August, while raw materials purchased by manufacturers climbed 4.8%. Year over year, the increases were 14.5% and 27%, respectively, Statistics Canada reported.
The Industrial Product Price Index (IPPI) rose for a second consecutive month, after gaining 1.2% in August. Its year-over-year reading has increased for 24 straight months.
Higher prices for crude energy products were the main driver of the monthly rise in raw material costs. Excluding those products, the Raw Materials Price Index (RMPI) fell 0.4% in September. It was still up 13.8% from a year earlier.
The RMPI’s overall annual increase accelerated to 27% in September from 22.9% in August.
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