Canada Producer Prices Rise More Than Expected

2026-05-22 12:38 By Joana Ferreira 1 min. read

Canada’s producer prices rose 2.0% month-over-month in April 2026, following a 2.4% increase in March and exceeding market expectations of 1.3%.

Shipping disruptions in the Strait of Hormuz, a critical global route for petroleum and other commodities, pushed several commodity prices higher for the second consecutive month.

Energy and petroleum products surged 7.7%, after a 26.9% jump in March, driven by higher refined petroleum product prices (+8.1%).

Key components included finished motor gasoline (+12.8%), diesel fuel (+3.9%), light fuel oils (+2.7%), and jet fuel (+2.5%).

Prices for chemicals and chemical products rose 7.3%, the largest monthly increase on record (data since January 1981), led by plastic resins (+35.7%), dyes and pigments, and petrochemicals (+15.0%).

Fertilizers, pesticides, and other chemical products added 5.7%.

Excluding energy and petroleum, producer prices increased 1.1%.

Annually, producer price inflation reached 11.4% in April, the highest since July 2022.



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Canada Producer Prices Rise More Than Expected
Canada’s producer prices rose 2.0% month-over-month in April 2026, following a 2.4% increase in March and exceeding market expectations of 1.3%. Shipping disruptions in the Strait of Hormuz, a critical global route for petroleum and other commodities, pushed several commodity prices higher for the second consecutive month. Energy and petroleum products surged 7.7%, after a 26.9% jump in March, driven by higher refined petroleum product prices (+8.1%). Key components included finished motor gasoline (+12.8%), diesel fuel (+3.9%), light fuel oils (+2.7%), and jet fuel (+2.5%). Prices for chemicals and chemical products rose 7.3%, the largest monthly increase on record (data since January 1981), led by plastic resins (+35.7%), dyes and pigments, and petrochemicals (+15.0%). Fertilizers, pesticides, and other chemical products added 5.7%. Excluding energy and petroleum, producer prices increased 1.1%. Annually, producer price inflation reached 11.4% in April, the highest since July 2022.
2026-05-22
Canada Producer Prices Above Forecasts
Producer prices in Canada jumped 2.4% month-over-month in March 2026, following a 0.6% increase in February and above forecasts of 1.6%. The closure of the Strait of Hormuz was the main event impacting price movements across multiple commodities in March, including energy and petroleum products and chemicals and chemical products. The largest impact came from a record 27.4% surge in prices of energy and petroleum products, particularly refined petroleum energy products (+29.3%) and diesel fuel (+33.2%) and finished motor gasoline (+28.8%) also increased substantially. In addition, prices for chemicals and chemical products rose 4.1%, the largest gain since February 2021, driven primarily by higher prices for plastic resins (+15.4%) and petrochemicals (+8.9%). Excluding energy and petroleum products, producer prices were down 0.5%, with cost falling for primary non-ferrous metal products (-1.7%). Year-on-year, producer prices went up 7.8%.
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Canada Producer Prices Rise Less than Anticipated
Canadian producer prices rose by 0.4% month-over-month in February 2026, slowing from an upwardly revised 2.8% advance in January and below market forecasts of a 1.1% increase. A significant increase in energy and petroleum products (+7.8%), of which diesel fuel (+10.5%) and finished motor gasoline (+5.7%), was offset by lower prices for primary non-ferrous metals (-3.7%) and meat, fish and dairy products (-5.9%). On a yearly basis, producer prices advanced by 5.4%, after an upwardly revised 5.6% surge in the prior month. Meanwhile, prices of raw materials purchased by manufacturers operating in Canada, increased by 0.6% month over month and rose 8.6% year over year.
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