Canadian Industrial Product and Raw Materials Price Indices for July
Industrial product and raw materials price indexes, July 2026
On Thursday, Statistics Canada (StatCan) released the Industrial Product and Raw Materials Price Indices for July.
Industrial Product Price Index (IPPI)
The IPPI rose 0.6% in July and was up 12.4% year-over-year, marking the 22nd consecutive month of annual growth. Excluding energy and petroleum products, the IPPI fell 0.2%.
The monthly increase was mainly driven by higher energy and petroleum product prices, as the resumption of the conflict between the US and Iran contributed to higher prices. Lower prices for primary non-ferrous metals and chemicals partially offset the increase.
Year-over-year, energy and petroleum products rose 42.0%, driven by a 50.3% increase in diesel fuel and a 44.7% increase in finished motor gasoline. Other major contributors included unwrought silver and silver alloys, up 60.3%; unwrought gold and gold alloys, up 25.6%; and plastic resins, up 46.3%.
Raw Materials Price Index (RMPI)
The RMPI fell 2.2% in July. Excluding crude energy products, the index declined 1.5%. Crude energy products made the largest contribution to the monthly decline, followed by metal ores, concentrates, and scrap.
Year-over-year, the RMPI was up 18.1%, slowing from a 21.0% increase in June. Excluding crude energy products, the index was up 16.7%.
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