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Canada industrial product and raw materials price indexes, January 2026
Prices of products manufactured in Canada, as measured by the Industrial Product Price Index (IPPI), increased 2.7% month over month in January and were up 5.4% year over year. Prices of raw materials purchased by manufacturers operating in Canada, as measured by the Raw Materials Price Index (RMPI), increased by 7.7% month over month in January and rose 8.0% year over year. The IPPI increased 2.7% month over month in January, following a 0.9% decline in the previous month. A significant increase was recorded in primary non-ferrous metal products (+18.2%), driving the monthly gain in the IPPI. Other groups ... (full story)
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*TRUMP’S GLOBAL TARIFFS STRUCK DOWN BY US SUPREME COURT 
Supreme Court of the United States: Learning Resources, Inc. v. Trump, President of the United States The question presented is whether the International Emergency Economic Powers Act (IEEPA) authorizes the President to impose tariffs. See 91 Stat. 1626. Shortly after taking office, President Trump sought to address two foreign threats: the influx of illegal drugs from Canada, Mexico, and China, Presidential Proclamation No. 10886, 90 Fed. Reg. 8327; Exec. Order No. 14193, 90 Fed. Reg. 9113; Exec. Order No. 14194, 90 Fed. Reg. 9117; Exec. Order No. 14195, 90 Fed. Reg. 9121, and “large and persistent” trade deficits, Exec. Order No. 14257, 90 Fed. Reg. 15041. The President determined that the drug influx had “created a public health crisis,” 90 Fed. Reg. 9113, and that the trade deficits had “led to the hollowing out” of the American manufacturing base and “undermined critical supply chains,” id., at 15041. The President declared a national emergency as to both threats, deeming them “unusual and extraordinary,” and invoked his authority under IEEPA to respond. He imposed tariffs to deal with each threat. As to the drug trafficking tariffs, the Pre *SUPREME COURT RULES 6-3 AGAINST TRUMP ON TARIFFS Supreme Court does not address eligibility for tariff refunds.
Supreme Court of the United States: Learning Resources, Inc. v. Trump, President of the United States The question presented is whether the International Emergency Economic Powers Act (IEEPA) authorizes the President to impose tariffs. See 91 Stat. 1626. Shortly after taking office, President Trump sought to address two foreign threats: the influx of illegal drugs from Canada, Mexico, and China, Presidential Proclamation No. 10886, 90 Fed. Reg. 8327; Exec. Order No. 14193, 90 Fed. Reg. 9113; Exec. Order No. 14194, 90 Fed. Reg. 9117; Exec. Order No. 14195, 90 Fed. Reg. 9121, and “large and persistent” trade deficits, Exec. Order No. 14257, 90 Fed. Reg. 15041. The President determined that the drug influx had “created a public health crisis,” 90 Fed. Reg. 9113, and that the trade deficits had “led to the hollowing out” of the American manufacturing base and “undermined critical supply chains,” id., at 15041. The President declared a national emergency as to both threats, deeming them “unusual and extraordinary,” and invoked his authority under IEEPA to respond. He imposed tariffs to deal with each threat. As to the drug trafficking tariffs, the Pre *SUPREME COURT RULES 6-3 AGAINST TRUMP ON TARIFFS Supreme Court does not address eligibility for tariff refunds.
Initial estimates show that the public sector recorded a £30.4 billion surplus in January 2026, £15.9 billion higher than, or double that of January 2025, and £6.3 billion above the Office for Budget Responsibility’s November 2025 forecast; the highest surplus in any month since records began in 1993 (not adjusted for inflation). In January, tax receipts ...
The quantity of goods bought (volume) in retail sales is estimated to have risen by 0.1% in the three months to January 2026, compared with the three months to October 2025. The rise was because of better automotive fuel sales over the three months to January 2026, and a good start to the year for non-food stores, which was only partly offset by falls in ...
