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Economic News Release
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Producer Price Index News Release summary

Transmission of material in this release is embargoed until                          USDL 22-2267
8:30 a.m. (ET) Friday, December 9, 2022

Technical information:      (202) 691-7705  *  ppi-info@bls.gov  *  www.bls.gov/ppi
Media contact:              (202) 691-5902  *  PressOffice@bls.gov   


                               PRODUCER PRICE INDEXES - NOVEMBER 2022


The Producer Price Index for final demand advanced 0.3 percent in November, seasonally 
adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices also rose 0.3 
percent in both October and September. (See table A.) On an unadjusted basis, the index for final 
demand moved up 7.4 percent for the 12 months ended in November. 

In November, most of the increase in the index for final demand is attributable to a 0.4-percent 
advance in prices for final demand services. The index for final demand goods inched up 0.1 
percent.

Prices for final demand less foods, energy, and trade services moved up 0.3 percent in November 
after rising 0.2 percent in October. For the 12 months ended in November, the index for final 
demand less foods, energy, and trade services increased 4.9 percent. 

Final Demand

Final demand services: The index for final demand services advanced 0.4 percent in November 
after edging up 0.1 percent in October. Leading the November increase, prices for final demand 
services less trade, transportation, and warehousing climbed 0.4 percent. Margins for final demand 
trade services rose 0.7 percent. (Trade indexes measure changes in margins received by wholesalers 
and retailers.) In contrast, prices for final demand transportation and warehousing services declined 
0.9 percent.

Product detail: About one-third of the November rise in the index for final demand services can be 
traced to prices for securities brokerage, dealing, investment advice, and related services, which 
jumped 11.3 percent. The indexes for machinery and vehicle wholesaling, loan services (partial), 
fuels and lubricants retailing, portfolio management, and long-distance motor carrying also moved 
higher. Conversely, prices for transportation of passengers (partial) fell 5.6 percent. The indexes for 
automobile and automobile parts retailing and for traveler accommodation services also decreased. 
(See table 2.) 

Final demand goods: The index for final demand goods inched up 0.1 percent in November 
following a 0.6-percent rise in October. A 3.3-percent increase in prices for final demand foods was a 
major factor in the November advance. The index for final demand goods less foods and energy 
moved up 0.3 percent. In contrast, prices for final demand energy decreased 3.3 percent.

Product detail: The November advance in prices for final demand goods was led by a 38.1-percent 
jump in the index for fresh and dry vegetables. Prices for chicken eggs; meats; canned, cooked, 
smoked, or prepared poultry; and tobacco products also moved higher. Conversely, the gasoline 
index fell 6.0 percent. Prices for diesel fuel, residential natural gas, and primary basic organic 
chemicals also declined.

Table A. Monthly and 12-month percent changes in selected final demand price indexes, seasonally adjusted
Month Total
final
demand
Final
demand
less
foods,
energy,
and
trade
Final demand goods Final demand services Change
in final
demand
from 12
months
ago
(unadj.)
Change
in final
demand
less
foods,
energy,
and
trade
from 12
mo. ago
(unadj.)
Total Foods Energy Less
foods
and
energy
Total Trade Transportation
and
warehousing
Other

2021

Nov.

1.0 0.8 0.9 1.3 0.9 0.8 1.0 1.3 2.8 0.6 9.9 7.0

Dec.

0.6 0.4 -0.1 -0.2 -1.4 0.4 0.9 1.9 1.6 0.3 10.0 7.0

2022

Jan.

1.2 0.8 1.6 1.8 4.1 0.8 0.9 1.3 0.0 0.8 10.1 6.9

Feb.

1.1 0.2 2.2 1.9 7.2 0.8 0.5 1.7 2.0 -0.3 10.4 6.7

Mar.

1.7 1.0 2.4 2.4 6.6 1.1 1.3 2.3 5.6 0.4 11.7 7.1

Apr.

0.5 0.4 1.3 1.5 1.5 1.1 0.0 0.1 2.1 -0.2 11.2 6.8

May

0.8 0.5 1.5 0.4 4.8 0.7 0.4 0.6 2.5 0.1 11.1 6.8

June

0.9 0.3 2.2 -0.1 8.9 0.5 0.3 0.3 0.8 0.2 11.2 6.4

July(1)

-0.4 0.2 -1.8 1.2 -9.1 0.1 0.2 0.7 -0.5 0.0 9.7 5.8

Aug.(1)

0.0 0.2 -1.0 -0.1 -5.4 0.2 0.5 1.1 -1.1 0.3 8.7 5.6

Sept.(1)

0.3 0.3 0.3 1.5 0.3 0.0 0.2 -0.3 -0.3 0.6 8.5 5.6

Oct.(1)

0.3 0.2 0.6 0.8 2.3 0.0 0.1 -0.1 0.4 0.2 8.1 5.4

Nov.

0.3 0.3 0.1 3.3 -3.3 0.3 0.4 0.7 -0.9 0.4 7.4 4.9

Footnotes
(1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for July 2022 through October 2022 have been revised to reflect the availability of late reports and corrections by respondents.

Intermediate Demand by Commodity Type

Within intermediate demand in November, prices for processed goods fell 0.9 percent, the index for 
unprocessed goods declined 3.2 percent, and prices for services increased 0.6 percent. (See tables B 
and C.)

Processed goods for intermediate demand: Prices for processed goods for intermediate demand 
moved down 0.9 percent in November, the fifth consecutive decline. Leading the November 
decrease, the index for processed energy goods fell 3.7 percent. Prices for processed materials less 
foods and energy declined 0.2 percent. In contrast, the index for processed foods and feeds advanced 
0.7 percent. For the 12 months ended in November, prices for processed goods for intermediate 
demand rose 7.7 percent. 

Product detail: Over one-third of the November decline in the index for processed goods for 
intermediate demand can be attributed to prices for diesel fuel, which fell 4.5 percent. The indexes 
for gasoline, steel mill products, utility natural gas, primary basic organic chemicals, and industrial 
electric power also moved lower. Conversely, prices for meats rose 2.3 percent. The indexes for 
primary nonferrous metals and for inedible fats and oils also moved higher. 

Unprocessed goods for intermediate demand: The index for unprocessed goods for intermediate 
demand fell 3.2 percent, the third consecutive decrease. Leading the November decline, prices for 
unprocessed energy materials moved down 7.8 percent. The index for unprocessed nonfood materials 
less energy fell 0.7 percent. In contrast, prices for unprocessed foodstuffs and feedstuffs advanced 
1.1 percent. For the 12 months ended in November, the index for unprocessed goods for intermediate 
demand rose 3.0 percent. 

Product detail: Leading the decrease in prices for unprocessed goods for intermediate demand, the 
index for natural gas dropped 15.8 percent. Prices for crude petroleum, corn, hay and hayseeds, citrus 
fruits, and carbon steel scrap also declined. Conversely, the index for fresh vegetables (except 
potatoes) jumped 43.1 percent. Prices for raw milk and for nonferrous metal ores also advanced. 

Table B. Monthly and 12-month percent changes in selected intermediate demand price indexes for goods by commodity type, seasonally adjusted
Month Processed goods for intermediate demand Unprocessed goods for intermediate demand
Total Foods
and
feeds
Energy
goods
Less
foods
and
energy
Total,
change
from 12
months
ago
(unadj.)
Total Foodstuffs
and
feedstuffs
Energy
materials
Nonfood
materials
less
energy
Total,
change
from 12
months
ago
(unadj.)

2021

Nov.

1.5 0.1 2.5 1.4 26.6 2.3 1.3 2.3 3.4 49.6

Dec.

-0.1 0.1 -2.7 0.6 24.4 -4.8 3.8 -12.1 -1.8 40.0

2022

Jan.

2.2 2.6 4.7 1.5 24.8 3.1 2.9 4.2 1.1 36.4

Feb.

1.5 2.1 5.8 0.4 23.3 9.8 5.4 18.2 1.5 33.5

Mar.

2.3 2.1 7.3 0.9 22.1 2.9 7.7 -4.3 9.7 43.3

Apr.

2.0 3.2 4.4 1.2 22.0 5.5 4.2 9.3 1.3 50.1

May

2.3 1.1 4.5 1.8 21.6 5.4 0.2 14.6 -4.2 46.4

June

2.0 0.0 8.8 0.1 21.9 4.8 -0.4 11.1 -2.0 50.3

July(1)

-2.3 0.3 -8.8 -0.4 17.2 -9.3 -1.9 -14.3 -7.2 32.5

Aug.(1)

-1.4 -0.1 -4.4 -0.6 14.4 4.6 -1.6 10.9 0.4 36.9

Sept.(1)

-0.1 -0.1 2.0 -0.7 13.0 -3.1 1.1 -6.8 0.0 29.0

Oct.(1)

-0.1 -0.1 1.8 -0.7 10.3 -10.5 -1.5 -18.9 -5.2 8.6

Nov.

-0.9 0.7 -3.7 -0.2 7.7 -3.2 1.1 -7.8 -0.7 3.0

Footnotes
(1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for July 2022 through October 2022 have been revised to reflect the availability of late reports and corrections by respondents.

Services for intermediate demand: The index for services for intermediate demand increased 0.6 
percent in November, the fifth consecutive rise. Leading the November advance, prices for services 
less trade, transportation, and warehousing for intermediate demand moved up 1.1 percent. The index 
for trade services for intermediate demand climbed 0.5 percent. In contrast, prices for transportation 
and warehousing services for intermediate demand fell 1.3 percent. For the 12 months ended in 
November, the index for services for intermediate demand increased 6.7 percent, the largest 12-
month advance since rising 7.9 percent in May.

Product detail: Nearly 60 percent of the November rise in the index for services for intermediate 
demand can be traced to an 11.3-percent increase in prices for securities brokerage, dealing, 
investment advice, and related services. The indexes for loan services (partial), portfolio 
management, fuels and lubricants retailing, cable network advertising time sales, and long-distance 
motor carrying also advanced. Conversely, prices for arrangement of freight and cargo transportation 
dropped 15.2 percent. The indexes for broadcast and network television advertising time sales and 
for metals, minerals, and ores wholesaling also decreased.

Table C. Monthly and 12-month percent changes in selected intermediate demand price indexes for services by commodity type, seasonally adjusted
Month Services for intermediate demand
Total Trade Transportation
and
warehousing
Other Total, change
from 12 months
ago (unadj.)

2021

Nov.

0.6 -0.6 1.0 0.9 8.1

Dec.

0.8 1.5 1.6 0.5 8.3

2022

Jan.

0.8 1.4 0.6 0.6 7.9

Feb.

0.2 1.4 0.4 -0.2 7.8

Mar.

1.3 4.4 2.1 0.0 8.4

Apr.

0.9 1.0 1.7 0.6 8.0

May

0.5 0.6 0.6 0.4 7.9

June

-0.3 -0.7 0.1 -0.3 6.3

July(1)

0.3 0.0 1.0 0.2 5.9

Aug.(1)

0.6 -0.9 -0.3 1.4 6.1

Sept.(1)

0.4 -0.2 -0.8 0.9 6.2

Oct.(1)

0.4 -0.1 0.6 0.5 6.6

Nov.

0.6 0.5 -1.3 1.1 6.7

Footnotes
(1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for July 2022 through October 2022 have been revised to reflect the availability of late reports and corrections by respondents.

Intermediate Demand by Production Flow

Stage 4 intermediate demand: Prices for stage 4 intermediate demand advanced 0.2 percent in 
November following no change in the previous month. In November, the index for total services 
inputs to stage 4 intermediate demand increased 0.8 percent. In contrast, prices for total goods inputs 
declined 0.3 percent. (See table D.) Increases in the indexes for securities brokerage, dealing, 
investment advice, and related services; loan services (partial); portfolio management; meats; food 
and alcohol wholesaling; and canned, cooked, smoked, or prepared poultry outweighed declines in 
prices for electric power, gasoline, and gross rents for retail properties. For the 12 months ended in 
November, the index for stage 4 intermediate demand rose 6.9 percent.

Stage 3 intermediate demand: The index for stage 3 intermediate demand declined 0.4 percent in 
November after edging down 0.1 percent in October. In November, prices for total goods inputs to 
stage 3 intermediate demand fell 0.9 percent. Conversely, the index for total services inputs rose 0.2 
percent. Decreases in prices for diesel fuel, arrangement of freight and cargo transportation, steel mill 
products, primary basic organic chemicals, corn, and thermoplastic resins and materials outweighed 
advances in the indexes for loan services (partial), raw milk, and cable network advertising time 
sales. For the 12 months ended in November, prices for stage 3 intermediate demand rose 8.4 
percent.

Stage 2 intermediate demand: The index for stage 2 intermediate demand declined 1.4 percent in 
November, the third consecutive decrease. In November, prices for total goods inputs to stage 2 
intermediate demand fell 3.4 percent. In contrast, the index for total services inputs advanced 0.6 
percent. Decreases in prices for natural gas, crude petroleum, arrangement of freight and cargo 
transportation, broadcast and network television advertising time sales, primary basic organic 
chemicals, and transportation of passengers (partial) outweighed increases in the indexes for loan 
services (partial); securities brokerage, dealing, investment advice, and related services; and oilseeds. 
For the 12 months ended in November, prices for stage 2 intermediate demand rose 3.8 percent.

Stage 1 intermediate demand: The index for stage 1 intermediate demand declined 0.3 percent in 
November following a 0.1-percent rise in October. In November, prices for total goods inputs to 
stage 1 intermediate demand fell 1.2 percent. Conversely, the index for total services inputs advanced 
0.7 percent. Decreases in prices for diesel fuel, utility natural gas, steel mill products, transportation 
of passengers (partial), primary basic organic chemicals, and gasoline outweighed increases in the 
indexes for securities brokerage, dealing, investment advice, and related services; fuels and lubricants 
retailing; and inedible fats and oils. For the 12 months ended in November, prices for stage 1 
intermediate demand moved up 7.6 percent.

Table D. Monthly percent changes in selected intermediate demand price indexes by production flow, seasonally adjusted
Month Stage 4 intermediate
demand
Stage 3 intermediate
demand
Stage 2 intermediate
demand
Stage 1 intermediate
demand
Total Goods
inputs
Services
inputs
Total Goods
inputs
Services
inputs
Total Goods
inputs
Services
inputs
Total Goods
inputs
Services
inputs

2021

Nov.

1.1 1.5 0.7 0.8 1.2 0.4 1.2 1.7 0.7 1.3 2.0 0.5

Dec.

0.7 0.5 0.8 0.8 0.7 0.9 -2.2 -5.6 1.2 0.4 0.0 0.8

2022

Jan.

1.5 2.1 1.0 1.6 2.6 0.7 1.4 2.7 0.1 1.4 1.8 1.0

Feb.

0.6 1.2 0.0 1.4 2.6 0.1 4.3 8.4 0.3 1.0 1.6 0.2

Mar.

1.2 1.6 0.8 3.1 4.5 1.6 0.8 0.3 1.3 2.8 3.3 2.2

Apr.

1.0 1.2 0.7 2.5 3.7 1.3 2.8 4.7 0.7 1.7 2.4 0.9

May

0.9 1.4 0.4 1.7 2.6 0.6 3.6 6.8 0.3 1.5 2.3 0.7

June

0.4 1.1 -0.3 0.5 1.4 -0.5 2.9 5.4 0.0 1.0 2.4 -0.6

July(1)

-0.4 -0.9 0.0 -1.4 -3.0 0.4 -4.2 -8.4 1.0 -1.9 -3.2 -0.5

Aug.(1)

0.3 0.0 0.7 -1.6 -3.1 0.1 3.1 4.7 1.4 -0.5 -1.4 0.5

Sept.(1)

0.4 0.1 0.6 0.0 -0.1 0.0 -1.8 -3.9 0.5 0.3 0.4 0.2

Oct.(1)

0.0 -0.2 0.2 -0.1 -0.7 0.5 -4.9 -10.2 0.7 0.1 -0.1 0.4

Nov.

0.2 -0.3 0.8 -0.4 -0.9 0.2 -1.4 -3.4 0.6 -0.3 -1.2 0.7

Footnotes
(1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for July 2022 through October 2022 have been revised to reflect the availability of late reports and corrections by respondents.

________________
The Producer Price Index for December 2022 is scheduled to be released on Wednesday, January 18, 2023, 
at 8:30 a.m. (ET).

                                            *****

            Recalculated Seasonal Adjustment Factors and Relative Importance Figures to be 
                                 Available on February 14, 2023

Each year with the release of PPI data for January, seasonal adjustment factors and relative 
importance figures are recalculated to reflect price movements from the just-completed calendar 
year. The following information relating to the seasonal-factor update will be available on 
February 14, 2023 (2 workdays prior to the release of PPI data for January 2023 on February 16, 
2023):

*  Direct seasonal factors for PPI commodity indexes for the year 2023,
*  Recalculated seasonal factors for the last 5 years (2018-2022) for PPI commodity indexes, 
*  Recalculated seasonal factors for the last 5 years (2018-2022) for PPI Final Demand-
   Intermediate Demand indexes, 
*  Recalculated seasonal index data for the last 5 years (2018-2022) for Final Demand-
   Intermediate Demand and commodity indexes. This revision to seasonally adjusted indexes 
   for the previous 5 years will be posted to the PPI database on the BLS website. 

In addition, the following relative importance tables, which include values for December 2022, 
will be available on February 14, 2023:  

*  Final demand by individual commodities
*  Final demand by component series
*  Individual commodities of intermediate demand by commodity type
*  Component series of intermediate demand by commodity type
*  Individual commodities of intermediate demand by production flow
*  Component series of intermediate demand by production flow
*  Commodities, all levels
*  Wherever-provided services and construction

This information will be available on the PPI website at www.bls.gov/ppi or by contacting the 
PPI Section of Index Analysis and Public Information at ppi-info@bls.gov or (202) 691-7705.


                                            *****

             PPI Weights to be Updated to Reflect 2017 Census Shipment Values

With the release of January 2023 Producer Price Index (PPI) data on February 16, 2023, the 
Bureau of Labor Statistics will update PPI value weights to more accurately reflect recent 
production and marketing patterns. The updated weights will be constructed using 2017 value of 
shipments data from the Census of Manufactures, the Census of Mining, the Census of Services, 
and the Census of Agriculture. These data were collected in accordance with the North American 
Product Classification System (NAPCS). From January 2018 through December 2022, PPI 
weights have been based on 2012 North American Industry Classification System (NAICS) 
shipment values.

All PPIs will be affected by this weight update, including all industry net output indexes, as well 
as indexes for traditional commodity groupings. In addition, weights will be updated from the 
2012 to the 2017 Economic Census for all Final Demand-Intermediate Demand (FD-ID) indexes, 
special commodity-grouping indexes, and inputs to industry indexes. This weight revision will 
not result in changes to the reference base for indexes, the dates when PPIs are set to 100.

It is important to note that the basic structures of the PPI commodity and FD-ID classification 
systems will not change as a result of the weight revision. However, PPIs classified according to 
the NAICS will be updated to reflect 2022 NAICS definitions established by the U.S. Census 
Bureau. The weight update also will result in shifting relative importance values. These shifts 
will impact aggregate indexes in a manner commensurate with the relative gains and losses in 
value weights from 2012 to 2017.

In addition, PPI sample updates normally occurring with the release of October 2022 and 
February 2023 data will be combined and released in conjunction with the release of January 
2023 PPI data in February 2023. 

Commodity and FD-ID relative importance figures for December 2022 will be released on 
February 14, 2023, two business days prior to the release of January 2023 PPI data. This 
information will be available on the PPI website at www.bls.gov/ppi/tables/. Following the 
January 2023 PPI data release, a concordance between Census product codes and PPI commodity 
codes will be available upon request by contacting the PPI Section of Index Analysis and Public 
Information at ppi-info@bls.gov or (202) 691-7705.

Last Modified Date: December 09, 2022