Canada Producer Prices Unexpectedly Rise

2026-09-17 12:43 By Larissa Caser 1 min. read

Producer prices in Canada rose 1.3% month-on-month in August 2026, accelerating from a downwardly revised 0.3% increase in July and contrasting with market expectations of a flat reading.

Renewed tensions in the conflict between the US and Iran pushed energy and petroleum prices higher, which increased 4% over the month, albeit at a slower pace than the 6.2% gain in July.

The increase reflected higher prices for refined products (4.6%), particularly diesel (9.6%), followed by light fuel oils (8.5%).

Excluding energy and petroleum products, producer prices rose 0.8%.

Meanwhile, prices for primary non-ferrous metal products rebounded, rising 4.4% after two consecutive months of declines, driven by gains in unwrought gold, silver and platinum group metals and their alloys (8%).

Prices for chemicals and related products rose 2.8%, rebounding from a 6.9% decline in July, led by increases in plastic resins (10.7%) and fertilizers, pesticides and other chemical products (3.0%).



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Canada Producer Prices Unexpectedly Rise
Producer prices in Canada rose 1.3% month-on-month in August 2026, accelerating from a downwardly revised 0.3% increase in July and contrasting with market expectations of a flat reading. Renewed tensions in the conflict between the US and Iran pushed energy and petroleum prices higher, which increased 4% over the month, albeit at a slower pace than the 6.2% gain in July. The increase reflected higher prices for refined products (4.6%), particularly diesel (9.6%), followed by light fuel oils (8.5%). Excluding energy and petroleum products, producer prices rose 0.8%. Meanwhile, prices for primary non-ferrous metal products rebounded, rising 4.4% after two consecutive months of declines, driven by gains in unwrought gold, silver and platinum group metals and their alloys (8%). Prices for chemicals and related products rose 2.8%, rebounding from a 6.9% decline in July, led by increases in plastic resins (10.7%) and fertilizers, pesticides and other chemical products (3.0%).
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The industrial producer price index in Canada fell by 1.4% from the previous month in June of 2026, the sharpest decline since December of 2023, to erase part of the surge in producer prices since January. The brief restoration of energy supply from the Middle East after the memorandum of understanding between Iran and the US drove fuel prices to slide in the month. The energy and petroleum sector of the CPI slid by 9.1%. Meanwhile, prices also fell for non-ferrous metal products (-4.7%) and meat, fish, and dairy products (-0.2%). The Canadian IPPI surged by 13.6% annually, the highest since 2022, as fuel prices remained elevated despite the monthly pullback. Energy and petroleum prices were 36.8% higher, while those for chemical products were 18% up.
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