FX.co ★ Canada’s Raw Materials Price Slump Eases in July, But RMPI Remains in Negative Territory

Canada’s Raw Materials Price Index (RMPI) remained in decline in July 2026, but the pace of the downturn moderated notably compared with the previous month, according to data updated on 20 August 2026.

On a month-over-month basis, the RMPI stood at -2.2% in July, an improvement from June 2026, when the index fell by -6.9%. The figures reflect how the change in July compares with June, while the June reading captured the shift from May to June. Although still negative, the smaller drop suggests that downward pressure on raw material costs has eased somewhat after a sharper fall earlier in the summer.

The continued negative readings indicate that raw material prices are still under strain on a month-to-month basis, which may influence input costs for Canadian producers and, by extension, broader inflation dynamics in the months ahead.