Industrial product and raw materials price indexes, June 2026
Released: 2026-07-24
June 2026
-1.4% 
(monthly change)
June 2026
-0.1%
(monthly change)
June 2026
-6.9%
(monthly change)
June 2026
-2.7%
(monthly change)
Prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), declined 1.4% month over month in June and gained 12.4% year over year. Meanwhile, prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), decreased 6.9% month over month and increased 20.7% year over year.
Chart 1
Prices for industrial products decrease in June
Industrial Product Price Index
The IPPI declined 1.4% month over month in June, following five consecutive monthly increases from January through May. In June, the announcement of a tentative deal between the United States and Iran improved prospects for shipping through the Strait of Hormuz, contributing to a decline in the IPPI, as energy prices fell on the news. Excluding energy and petroleum products, the IPPI edged down 0.1%, mainly due to declining prices for primary non-ferrous metal products.
Prices for energy and petroleum products (-9.1%) declined in June after five straight month-over-month increases. Lower prices for refined petroleum energy products (-10.3%) contributed the most to the price decline. Finished motor gasoline fell 11.0% on a monthly basis, while diesel fuel declined 9.7%. Prices for crude energy products (-13.7%) declined for a second straight month in June, resulting in a drop in input costs, which caused refined petroleum product prices to fall.
The prices of primary non-ferrous metal products fell 4.7% month over month in June. This was the largest monthly decline for the commodity group since July 2022. A substantial decline in prices for unwrought gold, silver, and platinum group metals, and their alloys (-9.8%) was behind the decline in non-ferrous metal prices in June 2026. This marked the fifth consecutive month-over-month decline for the precious metal product group, and it was the largest decline for the product group since October 2011. In June 2026, price decreases were observed for unwrought silver and silver alloys (-12.9%), unwrought gold and gold alloys (-5.5%) and unwrought platinum group metals, and their alloys (-10.8%). The declines occurred after a substantial precious metal price rally from 2025 into early 2026.
Higher prices for lumber and other wood products (+2.6%), which recorded its sixth consecutive monthly gain, were the main moderator of the IPPI's monthly decline in June 2026. Rising prices for softwood lumber (+6.1%) drove the June increase, with the product group registering its largest month-over-month increase since November 2024.
Year over year
The IPPI gained 12.4% year over year in June 2026, the index's 21st straight month of year-over-year increase.
The main contributors to the year-over-year gain in the IPPI were unwrought gold, silver, and platinum group metals, and their alloys (+52.1%), diesel fuel (+45.1%) and finished motor gasoline (+38.0%). Though each of these three product groups experienced month-over-month price declines in June, significant month-over-month price increases in previous months led to year-over-year gains over the 12 months ending in June 2026. Other large contributors to the IPPI's year-over-year increase included plastic resins (+70.8%), unwrought aluminum and aluminum alloys (+41.7%) and unwrought copper and copper alloys (+41.6%).
Raw Materials Price Index
The RMPI decreased 6.9% month over month in June, the largest monthly decline for the index since July 2022 and the first since August 2025. Crude energy products made the largest contribution to the decline in June 2026, followed by metal ores, concentrates and scrap. Excluding crude energy products, the RMPI decreased 2.7%.
Prices for crude energy products (-13.7%) declined for the second consecutive month in June. Both conventional crude oil (-15.7%) and synthetic crude oil (-9.8%) posted monthly decreases as a tentative deal between the United States and Iran was announced in June.
In June, metal ores, concentrates and scrap (-5.1%) posted its largest monthly decline since June 2023. The driver of the decrease in June 2026 was the gold, silver, and platinum group metal ores and concentrates product group (-8.4%), which registered its largest month-over-month drop since July 2017. Lower prices for nickel ores and concentrates (-4.3%) made an impact as well in June 2026, albeit to a much lesser extent.
Year over year
The RMPI increased 20.7% year over year in June 2026, slowing from a 33.4% year-over-year gain in May. Excluding crude energy products, the RMPI increased 18.6% year over year in June.
The gold, silver, and platinum group metal ores and concentrates product group (+50.6%) made the largest contribution by a large margin to the RMPI's year-over-year increase in June. Conventional crude oil (+23.6%) and synthetic crude oil (+34.4%) also exerted notable upward pressure on the RMPI on a year-over-year basis.
Grains (except wheat) (-16.3%), hogs (-6.3%) and other miscellaneous crop products (-9.7%) were among the main moderators of the RMPI's year-over-year increase in June. However, these product groups have a much smaller weight in the RMPI than gold, silver and crude oil.
Chart 2
Prices for raw materials decrease in June
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.
A Technical Guide for the Industrial Product Price Index is now available. This guide provides additional details regarding the methodology used to calculate the index.
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.
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 July 2026 will be released on August 20.
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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