Canada’s Raw Materials Price Index (RMPI) jumped 7.7% month-over-month in January 2026, a sharp acceleration from the modest 0.3% increase recorded in December 2025, according to data updated on 20 February 2026.
The January figure reflects a significant pickup in input cost pressures at the earliest stage of the production chain, following a relatively stable period at the end of last year. On a month-over-month basis, the latest reading shows that raw material costs are now rising far more quickly than in the previous comparison period, when December’s 0.3% gain was measured against November 2025.
The RMPI tracks price changes for raw materials purchased by Canadian manufacturers, and the strong January increase may signal building cost pressures that could filter through to producer and consumer prices in the months ahead. Investors and policymakers will be watching upcoming releases closely to determine whether January’s spike is a one-off move or the start of a more sustained upward trend in input prices.
