Can exercise increase metabolism?

It does but the: Effects are rather transient and not particularly vigorous. Walking for an hour or jogging for thirty minutes may yield an extra 10-30 kcals burned after completing the actual exercise itself.

Exercise&Metabolism.: Exercise does increase the metabolic rate. Weight training increases lean body mass, and lean muscle is metabolically active. And aerobic exercise burns calories, also increasing the metabolic rate during exercise and for up to 48 hours thereafter.