Released: 2026-09-17
Industrial Product Price Index
August 2026
1.3% 
(monthly change)
Industrial Product Price Index, excluding energy and petroleum products
August 2026
0.8%
(monthly change)
Raw Materials Price Index
August 2026
3.1%
(monthly change)
Raw Materials Price Index, excluding crude energy products
August 2026
1.1%
(monthly change)
Prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), rose 1.3% month over month in August and gained 13.5% year over year. Meanwhile, prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), rose 3.1% month over month and increased 22.8% year over year.
Chart 1 
Prices for industrial products increase in August
Industrial Product Price Index
The IPPI rose 1.3% month over month in August after edging up 0.3% in July. The resumption of the conflict between the United States and Iran contributed to higher prices for energy and petroleum products in August. Excluding energy and petroleum products, the IPPI gained 0.8% in August as prices notably rose for primary non-ferrous metal products and chemicals and chemical products.
Prices for energy and petroleum products were the main contributor to the IPPI‘s monthly increase in August, rising 4.0% following a 6.2% gain in July. Higher prices for refined petroleum energy products (+4.6%) drove the increase in August. Diesel fuel prices (+9.6%) made the biggest impact on this increase, followed to a lesser extent by light fuel oils (+8.5%).
The prices of primary non-ferrous metal products gained 4.4% month over month in August. The increase comes after two consecutive monthly declines for the commodity group in June and July. In August, there was a notable gain for the unwrought gold, silver, and platinum group metals, and their alloys (+8.0%) product group, the first increase since January. Unwrought silver and silver alloys (+9.6%) was the largest contributor of the three precious metal subgroups, followed by unwrought gold and gold alloys (+6.7%) and unwrought platinum group metals, and their alloys (+7.1%).
Prices for chemicals and chemical products rose 2.8% from July to August. Previously, the commodity group recorded a 6.9% decline from June to July, reversing some of the substantial price gains from earlier in 2026. The increase in August was primarily the result of rising prices for plastic resins (+10.7%). Fertilizers, pesticides and other chemical products (+3.0%) and dyes and pigments, and petrochemicals (+2.3%) also made significant contributions to the higher prices for chemicals.
Year over year
The IPPI rose 13.5% year over year in August 2026, the 23rd consecutive month of year-over-year increase for the index.
In August, most IPPI product groups increased year over year. Unwrought gold, silver and platinum group metals, and their alloys (+46.3%) had the largest contribution to the IPPI‘s year-over-year increase. Several subgroups in the energy and petroleum products commodity group were also noteworthy contributors. Diesel fuel increased 75.0%, finished motor gasoline was up 42.1%, and light fuel oils rose 74.5% year over year. Unwrought copper and copper alloys (+49.3%) and unwrought aluminum and aluminum alloys (+27.6%) also made significant impacts on the IPPI‘s year-over-year gain.
Raw Materials Price Index
The RMPI rose 3.1% month over month in August. The crude energy products commodity group was the main driver of the increase, followed by metal ores, concentrates and scrap. Lower prices for animals and animal products slightly moderated the RMPI‘s monthly increase. Excluding crude energy products, the RMPI was up 1.1% from July.
Prices for crude energy products (+7.1%) increased in August following consecutive declines during the three previous months. The unravelling of the ceasefire agreement between Iran and the United States was associated with the increase in August. Both synthetic crude oil (+21.6%) and conventional crude oil (+2.8%) recorded monthly increases.
Metal ores, concentrates and scrap increased 4.0% month over month in August, following two straight monthly declines. In August, higher prices for gold, silver, and platinum group metal ores and concentrates (+8.1%) drove the increase. This was the first month-over-month increase for this product group since January 2026. Silver ores, concentrates and mill bullion gained 9.8% in August, while gold ores, concentrates and mill bullion gained 6.9%.
Prices for animals and animal products fell 3.4% in August. This was the largest monthly downturn for this commodity group since July 2020 and was mainly driven by price movements for cattle and calves (-9.6%).
Year over year
The RMPI increased 22.8% year over year in August 2026, following an 18.2% year-over-year gain in July. Excluding crude energy products, the RMPI increased 17.2% year over year in August.
Most RMPI product groups posted year-over-year increases in August. Gold, silver, and platinum group metal ores and concentrates (+47.1%) was the product group that made the largest contribution to the RMPI‘s year-over-year increase. Conventional crude oil (+29.8%) and synthetic crude oil (+55.3%) also exerted notable upward pressure on the RMPI on a year-over-year basis.
Chart 2
Prices for raw materials increase in August
Note to readers
The Industrial Product Price Index (IPPI) and the Raw Materials Price Index (RMPI) are available at the Canada level. Selected commodity groups within the IPPI are also available by region. The indexes are not seasonally adjusted.
The IPPI reflects the prices that producers in Canada receive as goods leave the factory gate. The IPPI does not reflect what the consumer pays. Unlike the Consumer Price Index, the IPPI excludes indirect taxes, such as sales taxes and tariffs, and all costs that occur between the time a good leaves the plant and the time the final user takes possession of the good. This includes transportation, wholesale and retail costs. Although the IPPI does not measure the direct effect of tariffs on prices, tariffs may indirectly influence prices measured in the IPPI. For example, inputs used in the production process that are imported and on which Canada imposes a tariff may raise the prices charged by Canadian producers. Tariffs on Canadian imports or exports may also indirectly influence prices in the IPPI through their impact on supply and demand dynamics.
The RMPI reflects the prices paid by Canadian manufacturers for key raw materials. The RMPI includes all charges purchasers incur to bring a commodity to the establishment gate, including transportation charges, net taxes paid and customs duties and tariffs paid on imported raw materials.
A sample transition is planned for the IPPI and RMPI, beginning in the September 2026 reference month. The new sample was drawn based on annual sales of manufactured products and purchase values of raw materials to be used in manufacturing by establishments selected for the 2022 Annual Survey of Manufacturing and Logging Industries. The indexes will be transitioned from the current sample to the new one in stages. Each month, a subset of the indexes’ sample strata will be transitioned, with all strata transitioning by the December 2026 reference month. Index values computed using the existing sample will not be revised with data from the new sample. For more information on sampling procedures for the IPPI and RMPI, please consult the Technical Guide for the Industrial Product Price Index.
Products
Statistics Canada launched the Producer Price Indexes Portal as part of a suite of portals for prices and price indexes. This webpage provides Canadians with a single point of access to a variety of statistics and measures related to producer prices.
Next release
The industrial product and raw materials price indexes for September 2026 will be released on October 22.
Contact information
For more information, or to enquire about the concepts, methods or data quality of this release, contact us (toll-free 1-800-263-1136; 514-283-8300; infostats@statcan.gc.ca) or Media Relations (statcan.mediahotline-ligneinfomedias.statcan@statcan.gc.ca).
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