FX.co ★ Canada’s Raw Material Price Growth Cools Sharply in June, Easing from May’s Surge

Canada’s Raw Materials Price Index (RMPI) recorded a marked slowdown in June 2026, with year-over-year growth easing to 20.7%, down from a previously heated 33.4% in May 2026. The data, updated on 24 July 2026, highlight a significant deceleration in input cost pressures for Canadian producers.

The RMPI figures are calculated on a year-over-year basis, comparing each month’s price change to the same month a year earlier. May’s reading of 33.4% reflected a strong surge in raw material costs compared with May of the prior year, while June’s 20.7% indicates that, although prices remain higher than a year ago, the pace of increase has cooled considerably.

This easing in raw material price growth may offer some relief to manufacturers and other resource-intensive sectors that have been grappling with elevated input costs. However, with RMPI still firmly positive, higher-than-normal price levels continue to be a factor in Canada’s broader cost environment.