FX.co ★ Canada’s Raw Material Price Growth Surges to 8.0% YoY in January

Canada’s Raw Materials Price Index (RMPI) accelerated sharply in January 2026, with year-over-year growth rising to 8.0%, up from 3.5% in December 2025. The figures, updated on 20 February 2026, highlight a significant strengthening in input cost pressures compared with the same month a year earlier.

On a year-over-year basis, the January reading indicates that raw material costs are increasing at more than double the pace seen in the previous month’s comparison. The “previous” figure of 3.5% reflected December 2025 prices versus December a year earlier, while the latest 8.0% result compares January 2026 with January 2025.

The jump in RMPI suggests rising cost pressures for Canadian producers, which could eventually filter through to factory-gate prices and, potentially, consumer inflation, depending on how businesses manage higher input costs in the months ahead.