According to Statistics Canada, prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), increased 0.5 percent month over month in March and increased 4.7 percent on a yearly basis. Prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), decreased 1.0 percent from February to March and increased 3.9 percent year over year in March.
The IPPI was up 0.5 percent month over month in March, the index’s sixth consecutive month-over-month increase.
The IPPI was 4.7 percent higher on a year-over-year basis in March 2025. This was the IPPI’s sixth consecutive year-over-year increase.
In March, the RMPI decreased 1.0 percent on a monthly basis after three straight monthly increases.
The RMPI was up 3.9 percent year over year in March, the fifth consecutive year-over-year increase. Excluding crude energy products, the RMPI was up 14.7 percent in March 2025.