Overview
Canada’s industrial producer price index rose 0.6% in July 2026 compared with June, ending a 1.4% month‑on‑month decline recorded in the previous month, according to Statistics Canada. The increase was primarily driven by higher prices for energy and petroleum products as well as primary non‑ferrous metals.
On an annual basis, the industrial product price index was up 12.4% in July, unchanged from the June year‑over‑year rate. When energy and petroleum products are excluded, the index fell 0.2% month‑on‑month but still posted an 8.8% increase compared with July 2025.
Raw material prices experienced a 2.2% month‑on‑month decline in July after a 6.7% drop in June. Despite the monthly fall, raw material prices remained 18.1% higher than a year earlier. Prices that exclude crude energy fell 1.5% month‑on‑month and rose 16.7% year‑over‑year.
The industrial price movements followed Canada’s consumer inflation rate, which accelerated to 3% in July, largely due to higher gasoline prices, while underlying core inflation measures stayed relatively stable.
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