Prices for Canadian manufactured goods rose 0.6 percent in July, driven by higher diesel and gasoline prices, while the cost of raw materials fell 2.2 percent, Statistics Canada reported Thursday.
The increase in the Industrial Product Price Index followed a 1.4 percent decline in June. Excluding energy and petroleum products, industrial prices fell 0.2 percent.
Energy and petroleum product prices rose 6.4 percent in July. Refined petroleum products gained 6.9 percent, with diesel up 10.4 percent and finished motor gasoline increasing 4.7 percent.
Lower metal and chemical prices partly offset the increase in fuel products.
Prices for primary non-ferrous metal products fell 5.2 percent. Unwrought gold, silver and platinum group metals and their alloys declined 6.9 percent, while unwrought aluminum and aluminum alloys dropped 7.0 percent. It was the largest monthly decrease in aluminum prices since April 2025.
Chemical and chemical product prices declined 3.4 percent. Fertilizers, pesticides and related chemical products fell 10.8 percent, while plastic resins were down 4.3 percent.
Industrial product prices were 12.4 percent higher than in July 2025, extending the index’s run of annual increases to 22 months. Energy and petroleum products rose 42.0 percent over the year, including gains of 50.3 percent for diesel and 44.7 percent for finished motor gasoline.
Silver prices increased 60.3 percent from a year earlier, gold rose 25.6 percent and plastic resin prices gained 46.3 percent.
The Raw Materials Price Index fell 2.2 percent in July, led by lower crude energy and metal prices. Excluding crude energy products, the index declined 1.5 percent.
Crude energy prices dropped 3.6 percent for a third consecutive month. Synthetic crude fell 8.9 percent and conventional crude declined 1.5 percent as shipments through the Strait of Hormuz temporarily increased.
Prices for metal ores, concentrates and scrap decreased 4.7 percent for a second straight month. Precious metal ores and concentrates fell 7.2 percent, while nickel ores and concentrates declined 4.8 percent.
Crop prices moved higher, rising 4.8 percent after falling 0.8 percent in June. It was the largest monthly increase for the group since March 2022. Miscellaneous crop products gained 9.9 percent and canola prices rose 4.6 percent.
Raw material prices remained 18.1 percent above their July 2025 level, down from an annual increase of 21.0 percent in June. Precious metal ores and concentrates rose 39.0 percent over the year. Conventional crude increased 21.7 percent, synthetic crude gained 21.2 percent and cattle and calf prices rose 14.6 percent.