The Canadian Transportation Agency (CTA) has set its determination of the Volume-Related Composite Price Index (VRCPI) for CN at 1.9734 and Canadian Pacific Kansas City (CPKC) at 1.9349 for the 2025-2026 crop year beginning Aug. 1. This is an increase in the VRCPI over the prior crop year of 1.72% for CN and 3.11% for CPKC.
The VRCPIs will be used in determining CN’s and CPKC’s Maximum Revenue Entitlement (MRE) for the movement of western Canadian grain in the 2025–2026 crop year. The MRE limits the overall revenue earned by CN and CPKC for shipping regulated grain. CTA said the VRCPIs will be applied when the agency makes its MRE determinations by Dec. 31, 2026, for the 2025–2026 crop year.
The determination of the VRCPIs is based on detailed submissions from CN and CPKC on their historical price information for railway inputs involving labor, fuel, material, and other capital items, as well as forecasted future changes in these railway price components. CTA describes the VRCPI as an “inflation factor” that reflects a composite of the forecasted prices.
