Canada’s raw materials prices surged 31.6% year-over-year in April 2026, accelerating from a revised 23.4% increase in March to mark the steepest yearly gain since June 2022. The rise was primarily driven by sharp increases in gold, silver, and platinum group metal ores and concentrates (+76.7%), conventional crude oil (+51.5%), and synthetic crude oil (+57.5%). Meanwhile, other miscellaneous crop products declined 22.3% and natural gas fell 37.4%. Excluding crude energy products, raw materials prices rose 22.7%.