Canada’s Raw Materials Price Index (RMPI) strengthened in February 2026, with year-over-year growth edging up to 8.6%, compared with 8.0% in January 2026. The latest data, updated on 20 March 2026, indicate a continued acceleration in input costs faced by Canadian producers.
The RMPI measures the price change of key raw materials purchased by Canadian manufacturers, and the February reading underscores persistent cost pressures at the early stages of the production chain. On a year-over-year basis, both the January and February figures compare prices for each month to the same month a year earlier, showing that raw material costs have been rising at an increasingly faster pace.
This upward momentum in raw material prices may have implications for producer margins and, potentially, for consumer prices if manufacturers pass higher input costs along the supply chain. Investors and policymakers will be watching upcoming releases closely to assess whether this acceleration in RMPI signals a more prolonged period of input price pressure in Canada’s economy.