FX.co ★ Canada’s Raw Material Price Growth Cools Sharply in February, Signaling Input Cost Relief

Canada’s Raw Material Price Index (RMPI) growth slowed dramatically in February 2026, offering a potential breather on input cost pressures for producers. Month-over-month, the RMPI rose just 0.6% in February, a steep deceleration from the 7.7% gain recorded in January 2026, according to data updated on 20 March 2026.

The indicator, which measures price changes for raw materials purchased by Canadian manufacturers, now reflects a much more moderate pace of increase compared with the previous month’s surge. On a month-over-month basis, the “actual” February reading of 0.6% is benchmarked against January’s 7.7% change, which in turn captured the shift from December 2025 to January 2026.

The sharp cooling in February suggests that some of the acute upward pressure on raw material costs seen at the start of the year may be easing, a development that could support margins for manufacturers if the trend persists in the coming months.