Canadian Industrial Product and Raw Materials Price Indices for October
Industrial product and raw materials price indexes, October 2025
On Thursday, Statistics Canada (StatCan) released the Industrial Product and Raw Materials Price Indices for October.
Industrial Product Price Index (IPPI)
The IPPI rose 1.5% in October and was up 6.0% year-over-year. The monthly gain marked the fifth consecutive increase, while the annual rise was the index’s 13th straight year-over-year advance.
The monthly increase was mainly driven by higher prices for primary non-ferrous metal products. Excluding energy and petroleum products, the IPPI increased 1.9% in October.
Lumber and other sawmill product prices rose 4.3% month-over-month, led by a 6.9% increase in softwood lumber. StatCan noted that operational curtailments reduced supply, allowing prices to partially rebound after a 9.0% decline in September. Furthermore, the US announced an additional 10% tariff on Canadian lumber, effective October 14. In the first two weeks of October, buyers increased their purchases of Canadian lumber in anticipation of the increase.
Raw Materials Price Index (RMPI)
The RMPI rose 1.6% in October. Excluding crude energy products, the index increased 4.2%.
Year-over-year, the RMPI was up 5.8% in October. Excluding crude energy products, the index increased 19.3%.
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