Canadian Industrial Product and Raw Materials Price Indexes for March
Industrial product and raw materials price indexes, March 2025
On Tuesday, Statistics Canada (StatCan) released its Industrial Product and Raw Materials Price Indexes for March.
Industrial Product Price Index
The Industrial Product Price Index (IPPI) rose 0.5%, marking the sixth consecutive monthly increase for the index.
Prices for lumber and other wood products rose 3.1% March, following two months of declines. This was the largest monthly growth for this commodity group since November 2024, when it was up 4.7%, and it was mainly driven by higher prices for softwood lumber, up 6.4%. Uncertainty driven by tariff threats, combined with growing demand heading into spring, put upward pressure on prices, StatCan said.
Year-over-year, the IPPI increased 4.7%, the sixth consecutive annual increase.
Raw Materials Price Index
The Raw Materials Price Index (RMPI) declined 1.0% in March, following three straight monthly increases. Excluding crude energy products, the RMPI rose 0.4%.
Year-over-year, the RMPI increased 3.9%, the fifth consecutive annual increase. Excluding crude energy products, the RMPI posted a 14.7% year-over-year gain.
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