Canada’s Raw Materials Price Index (RMPI) rose 1.6% month over month in October 2025, extending the prior month’s rebound of 1.7%. The increase was mainly driven by higher prices for metal ores, concentrates and scrap (9.0%), led by gold, silver and platinum group metal ores and concentrates (13.8%), which posted their largest gain since August 2020. In contrast, crude energy products fell 4.3%, with synthetic crude down 5.3% and conventional crude down 4.3% as global oversupply from increased OPEC plus and non OPEC production weighed on prices. Excluding crude energy products, the RMPI increased 4.2%.