FX.co ★ Canada Producer Inflation Accelerates in January

Canadian producer prices rose 2.7% month-over-month in January 2026, sharply rebounding from a 0.9% decline in December and far exceeding market expectations of a 0.2% increase. The headline gain was led by an 18.2% surge in prices for primary non-ferrous metal products. Additional upward pressure came from energy and petroleum products (+1.7%), chemicals and chemical products (+2.2%), motorized and recreational vehicles (+0.7%), and lumber and other wood products (+1.4%). On a yearly basis, the Producer Price Index advanced 5.4% in January, marking the 16th consecutive month of year-on-year increases.