Canada’s Raw Materials Price Index rose 4.8% month over month in September 2026, exceeding forecasts of a 3.1% increase and accelerating from a 3.3% rise in August. Prices for crude energy products surged 14.4%, following a 7.1% increase in August, with conventional crude oil and synthetic crude oil prices rising 16.8% and 9.0%, respectively. Crop product prices increased 2.1%, rebounding from a 0.7% decline in August, driven by higher prices for canola (+3.7%) and other crop products (+1.2%). In contrast, prices for metal ores, concentrates and scrap fell 0.7%, reflecting lower prices for gold, silver and platinum group metal ores and concentrates (-1.2%). Gold ores, concentrates and mill bullion prices declined 1.5%. Prices for animals and animal products decreased 1.1%. Year over year, the Raw Materials Price Index climbed 27%.