Released: 2026-10-22
Industrial Product Price Index
September 2026
2.0% 
(monthly change)
Industrial Product Price Index, excluding energy and petroleum products
September 2026
0.3%
(monthly change)
Raw Materials Price Index
September 2026
4.8%
(monthly change)
Raw Materials Price Index, excluding crude energy products
September 2026
-0.4% 
(monthly change)
Prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), rose 2.0% month over month in September and gained 14.5% year over year. Meanwhile, prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), rose 4.8% month over month and increased 27.0% year over year.
Chart 1 
Prices for industrial products increase in September
Industrial Product Price Index
The IPPI rose 2.0% month over month in September after a 1.2% increase in August. The resumption of the conflict between the United States and Iran in August continued to contribute to higher prices for energy and petroleum products in September. Excluding energy and petroleum products, the IPPI edged up 0.3% in September. Prices notably rose for chemicals and chemical products.
Prices for energy and petroleum products were the main contributor to the IPPI‘s monthly increase in September, rising 12.1%, following a 3.7% gain in August. Higher prices for refined petroleum energy products (+13.7%) drove the increase in September. Diesel fuel prices (+18.4%) made the biggest impact on this increase, followed by prices for finished motor gasoline (+7.8%) and light fuel oils (+15.4%).
Prices for chemicals and chemical products rose 3.8% from August to September. Previously, the commodity group recorded a 0.3% decline from July to August. September’s increase was primarily due to rising prices for dyes and pigments, and petrochemicals (+9.7%). Plastic resins (+11.0%) and fertilizers, pesticides and other chemical products (+4.1%) also made significant contributions to the higher prices for chemicals.
Prices for fruit, vegetables, feed and other food products rose 1.1% in September. This was the largest monthly increase since May (+1.0%), and it was driven by an increase in prices for oilseed cake and meal (+11.6%).
Year over year
The IPPI rose 14.5% year over year in September, the index’s 24th consecutive month of year-over-year increase.
In September, most IPPI product groups increased year over year. The energy and petroleum products commodity group made the largest contribution to the IPPI‘s year-over-year increase: diesel fuel increased 106.1%, finished motor gasoline was up 45.3% and light fuel oils rose 99.4%. The next largest contributions came from unwrought gold, silver and platinum group metals, and their alloys (+31.9%), unwrought copper and copper alloys (+46.3%) and unwrought aluminum and aluminum alloys (+26.9%).
Raw Materials Price Index
The RMPI gained 4.8% month over month in September, led by increasing prices for crude energy products. Excluding crude energy products, the RMPI decreased 0.4%.
Prices for crude energy products (+14.4%) increased substantially in September, following a 7.1% increase in August. Both conventional crude oil (+16.8%) and synthetic crude oil (+9.0%) recorded monthly increases in September.
Metal ores, concentrates and scrap decreased 0.7% month over month in September. The decrease was driven by lower prices for gold, silver, and platinum group metal ores and concentrates (-1.2%). Gold ores, concentrates and mill bullion fell 1.5%, while silver ores, concentrates and mill bullion decreased 0.7%.
Prices for crop products rose 2.1% in September after a slight decrease of 0.7% in August. The September increase was driven by price movements from canola (+3.7%) and other crop products (+1.2%).
Prices for animals and animal products fell 1.1% in September, decreasing for a second consecutive month. The September decrease was driven by price movement for hogs (-8.8%).
Year over year
The RMPI increased 27.0% year over year in September after recording a 22.9% year-over-year gain in August. Excluding crude energy products, the RMPI increased 13.8% year over year in September.
Most RMPI product groups posted year-over-year increases in September. Crude energy products was the product group that made the largest contribution to the RMPI‘s year-over-year increase. Conventional crude oil (+52.2%) recorded the largest increase year over year, followed by synthetic crude oil (+73.2%). Gold, silver, and platinum group metal ores and concentrates (+32.7%) also exerted notable upward pressure on the RMPI on a year-over-year basis.
Chart 2
Prices for raw materials increase in September
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 transition to a new sample for the IPPI and RMPI has begun with this release for 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 October 2026 will be released on November 19.
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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