Producer Price Index News Release summary

Transmission of material in this release is embargoed until USDL 26-1576
8:30 a.m. (ET) Thursday, October 15, 2026

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

PRODUCER PRICE INDEXES - SEPTEMBER 2026

The Producer Price Index for final demand increased 1.3 percent in September, seasonally
adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices moved up 0.5
percent in August and 0.2 percent in July. (See table A.) The September increase is the largest
advance since rising 1.7 percent in March 2022. On an unadjusted basis, the index for final
demand climbed 6.3 percent for the 12 months ended in September, the largest 12-month
increase since moving up 6.4 percent in December 2022.

In September, prices for final demand goods rose 2.6 percent, and the index for final demand
services advanced 0.8 percent.

Prices for final demand less foods, energy, and trade services moved up 0.5 percent in September
after increasing 0.3 percent in August. For the 12 months ended in September, the index for final
demand less foods, energy, and trade services rose 5.0 percent.

Final Demand

Final demand goods: Prices for final demand goods advanced 2.6 percent in September, the largest
increase since data were first calculated in December 2009. Over 80 percent of the broad-based rise
in September is attributable to the index for final demand energy, which jumped 10.8 percent. Prices
for final demand foods and for final demand goods less foods and energy advanced 1.2 percent and
0.3 percent, respectively.

Product detail: Half of the September increase in the index for final demand goods can be traced to
prices for gasoline, which jumped 20.3 percent. The indexes for diesel fuel, fresh and dry vegetables,
jet fuel, residential electric power, and crude petroleum also rose. In contrast, prices for chicken eggs
dropped 39.7 percent. The indexes for thermoplastic resins and materials and for commercial electric
power also declined. (See table 2.)

Final demand services: Prices for final demand services moved up 0.8 percent in September, the
largest rise since advancing 0.8 percent in April. Nearly half of the broad-based September increase
can be attributed to a 1.4-percent rise in margins for final demand trade services. The indexes for
final demand transportation and warehousing services and for final demand services less trade,
transportation, and warehousing also advanced, 3.4 percent and 0.3 percent, respectively.

Product detail: Over 20 percent of the September increase in prices for final demand services can be
traced to margins for machinery and vehicle wholesaling, which advanced 3.9 percent. The indexes
for truck transportation of freight, food and alcohol wholesaling, traveler accommodation services,
food retailing, and airline passenger services also rose. Conversely, margins for automotive fuels and
lubricants retailing dropped 30.3 percent. The indexes for securities brokerage, dealing, and
investment advice and for chemicals and allied products wholesaling also fell.

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.)
Month	Total final demand	Final demand less foods, energy, and trade	Total	Foods	Energy	Less foods and energy	Total	Trade	Transportation and warehousing	Other	Change in final demand from 12 months ago (unadj.)
2025
Sept.	0.6	0.2	0.6	0.8	2.0	0.2	0.6	1.6	0.7	0.2	3.0	3.0
Oct.	0.1	0.6	-0.2	-0.4	-2.2	0.5	0.2	-0.9	0.0	0.7	2.8	3.5
Nov.	0.4	0.3	0.8	0.1	3.4	0.2	0.3	0.2	0.8	0.2	3.1	3.6
Dec.	0.4	0.1	-0.1	-0.2	-1.5	0.4	0.6	1.8	0.2	0.0	3.1	3.4
2026
Jan.	0.6	0.5	-0.1	-1.3	-1.7	0.7	0.9	2.0	1.0	0.3	3.1	3.5
Feb.	0.5	0.5	1.0	2.3	2.0	0.4	0.3	-0.3	0.8	0.5	3.4	3.5
Mar.	0.8	0.2	2.0	-0.6	10.5	0.4	0.3	0.5	2.2	0.0	4.3	3.6
Apr.	1.1	0.5	1.9	0.3	7.1	0.7	0.8	1.5	3.7	0.1	5.7	4.4
May(1)	0.5	0.8	2.2	0.6	8.2	0.7	-0.2	-2.7	2.1	0.7	5.9	5.0
June(1)	-0.1	0.2	-1.4	-0.6	-6.8	0.2	0.5	1.3	-0.3	0.2	5.6	5.0
July(1)	0.2	0.5	-0.4	-1.0	-1.7	0.2	0.3	-0.2	-1.1	0.7	4.9	4.9
Aug.(1)	0.5	0.3	1.1	-0.3	4.5	0.4	0.2	0.2	2.2	0.0	5.6	4.8
Sept.	1.3	0.5	2.6	1.2	10.8	0.3	0.8	1.4	3.4	0.3	6.3	5.0
Footnotes (1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for May through August have been revised to reflect the availability of late reports and corrections by respondents.

Intermediate Demand by Commodity Type

Within intermediate demand in September, price increases were broad-based, with the index for processed
goods rising 2.5 percent, prices for unprocessed goods moving up 8.4 percent, and the index for services
advancing 0.9 percent. (See tables B and C.)

Processed goods for intermediate demand: The index for processed goods for intermediate demand
moved up 2.5 percent in September, the largest rise since jumping 2.8 percent in May. Over 80 percent of
the September advance is attributable to a 10.2-percent increase in prices for processed energy goods. The
indexes for processed materials less foods and energy and for processed foods and feeds also moved up,
0.5 percent and 0.4 percent, respectively. For the 12 months ended in September, prices for processed
goods for intermediate demand rose 14.1 percent, the largest 12-month increase since advancing 14.3
percent in August 2022.

Product detail: Nearly half of the September rise in the index for processed goods for intermediate
demand can be traced to a 21.0-percent increase in prices for diesel fuel. The indexes for gasoline, jet
fuel, lubricating oil base stocks, prepared animal feeds, and fabricated structural metal products also
moved higher. In contrast, prices for commercial electric power declined 0.6 percent. The indexes for
thermoplastic resins and materials and for dry sausage also fell.

Unprocessed goods for intermediate demand: Prices for unprocessed goods for intermediate demand
moved up 8.4 percent in September, the largest increase since rising 9.2 percent in February 2022. Over
80 percent of the September advance is attributable to the index for unprocessed energy materials, which
jumped 22.2 percent. Prices for unprocessed nonfood materials less energy and for unprocessed foodstuffs
and feedstuffs also moved up, 2.5 percent and 0.8 percent, respectively. For the 12 months ended in
September, the index for unprocessed goods for intermediate demand rose 21.5 percent, the largest 12-
month increase since advancing 29.2 percent in September 2022.

Product detail: Leading the September increase in prices for unprocessed goods for intermediate demand,
the index for crude petroleum jumped 28.3 percent. Prices for grains; hay, hayseeds, and oilseeds; natural
gas; fresh and dry vegetables; and nonferrous metal ores also rose. Conversely, the index for raw milk
decreased 12.3 percent. Prices for slaughter chickens and for aluminum base scrap also declined.

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
Month	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.)
2025
Sept.	0.2	0.7	0.1	0.2	3.7	-0.5	0.4	-2.8	1.2	3.6
Oct.	-0.1	-1.6	-0.6	0.2	3.1	-1.3	-1.8	-4.1	3.3	-0.6
Nov.	0.6	-0.3	3.0	0.1	3.6	2.4	-0.3	3.9	4.5	2.0
Dec.	0.1	-1.0	-2.4	0.8	3.5	2.1	-2.2	6.9	2.2	1.0
2026
Jan.	0.1	-0.3	-1.2	0.5	2.8	4.3	-3.0	13.4	3.8	-0.1
Feb.	1.5	0.2	5.0	0.8	4.0	5.9	4.4	11.5	1.0	5.4
Mar.	3.0	0.6	12.8	0.8	6.9	-0.2	0.8	-1.2	0.8	9.5
Apr.	2.6	0.4	7.3	1.6	9.5	1.9	0.3	5.4	-0.4	15.2
May(1)	2.8	0.6	7.5	1.7	12.4	3.0	4.0	2.5	2.4	20.5
June(1)	-1.1	0.1	-7.1	0.7	11.2	-6.5	-3.7	-13.0	-1.7	10.1
July(1)	-0.4	-0.5	-1.8	0.0	10.1	-0.2	0.7	-2.8	1.6	8.6
Aug.(1)	1.8	-0.5	7.3	0.6	11.6	0.9	0.7	0.2	1.9	11.5
Sept.	2.5	0.4	10.2	0.5	14.1	8.4	0.8	22.2	2.5	21.5
Footnotes (1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for May through August 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 rose 0.9 percent 
in September, the largest increase since moving up 0.9 percent in April. Over 40 percent of the 
advance in September can be traced to margins for trade services for intermediate demand, which 
jumped 2.0 percent. Prices for transportation and warehousing services for intermediate demand and 
for services less trade, transportation, and warehousing for intermediate demand also increased, 1.8 
percent and 0.3 percent, respectively. For the 12 months ended in September, the index for services 
for intermediate demand rose 6.3 percent, the largest 12-month advance since moving up 6.3 percent 
in January 2023.

Product detail: Nearly a quarter of the September rise in prices for services for intermediate demand 
can be traced to a 6.7-percent increase in margins for food and alcohol wholesaling. The indexes for 
truck transportation of freight; machinery and equipment parts and supplies wholesaling; airline 
passenger services; courier, messenger, and U.S. postal services; and traveler accommodation 
services also moved higher. In contrast, prices for securities brokerage, dealing, and investment 
advice fell 2.9 percent. The indexes for automotive fuels and lubricants retailing and for chemicals 
and allied products 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
Month	Total	Trade	Transportation and warehousing	Other	Total, change from 12 months ago (unadj.)
2025
Sept.	0.3	1.5	0.4	-0.1	2.0
Oct.	0.4	0.2	0.3	0.4	2.2
Nov.	0.2	1.0	0.6	-0.1	2.5
Dec.	0.6	1.6	0.7	0.3	2.7
2026
Jan.	0.6	2.2	0.5	0.2	3.2
Feb.	0.3	-0.1	0.7	0.4	3.3
Mar.	0.1	0.2	0.6	-0.1	3.0
Apr.	0.9	0.9	3.1	0.4	4.3
May(1)	0.5	-0.6	1.0	0.7	4.7
June(1)	0.8	2.4	-0.2	0.5	5.4
July(1)	0.2	-0.1	-0.2	0.4	5.1
Aug.(1)	0.7	2.7	1.2	0.0	5.7
Sept.	0.9	2.0	1.8	0.3	6.3
Footnotes (1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for May through August 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 rose 1.1 percent in
September, the largest advance since increasing 1.1 percent in May. In September, the index for total
goods inputs to stage 4 intermediate demand jumped 1.2 percent, and prices for total services inputs
moved up 0.9 percent. (See table D.) Advances in the indexes for gasoline, diesel fuel, food and
alcohol wholesaling, machinery and equipment parts and supplies wholesaling, truck transportation
of freight, and grains outweighed declines in the indexes for securities brokerage, dealing, and
investment advice; chemicals and allied products wholesaling; and commercial electric power. For
the 12 months ended in September, prices for stage 4 intermediate demand rose 7.9 percent, the
largest 12-month increase since moving up 7.9 percent in October 2022.

Stage 3 intermediate demand: The index for stage 3 intermediate demand increased 1.1 percent in
September, the largest advance since rising 1.7 percent in May. In September, prices for total goods
inputs to stage 3 intermediate demand moved up 1.3 percent, and the index for total services inputs
climbed 0.8 percent. Higher prices for diesel fuel; grains; gasoline; truck transportation of freight;
courier, messenger, and U.S. postal services; and lubricating oil base stocks outweighed decreases in
the indexes for raw milk, slaughter chickens, and automotive fuels and lubricants retailing. For the 12
months ended in September, prices for stage 3 intermediate demand advanced 7.7 percent, the largest
12-month rise since moving up 8.1 percent in November 2022.

Stage 2 intermediate demand: Prices for stage 2 intermediate demand increased 3.9 percent in
September, the largest rise since advancing 4.2 percent in February 2022. In September, the index for
total goods inputs to stage 2 intermediate demand jumped 8.9 percent, and prices for total services
inputs moved up 0.5 percent. Increases in the indexes for crude petroleum; diesel fuel; gas fuels; food
and alcohol wholesaling; hay, hayseeds, and oilseeds; and gasoline outweighed declines in the
indexes for automotive fuels and lubricants retailing; securities brokerage, dealing, and investment
advice; and thermoplastic resins and materials. For the 12 months ended in September, prices for
stage 2 intermediate demand advanced 13.9 percent, the largest 12-month rise since moving up 16.1
percent in September 2022.

Stage 1 intermediate demand: The index for stage 1 intermediate demand increased 2.2 percent in
September, the largest advance since rising 2.6 percent in May. In September, prices for total goods
inputs to stage 1 intermediate demand moved up 3.1 percent, and the index for total services inputs
climbed 1.1 percent. Higher prices for diesel fuel, gasoline, grains, crude petroleum, truck
transportation of freight, and jet fuel outweighed decreases in the indexes for securities brokerage,
dealing, and investment advice; chemicals and allied products wholesaling; and aluminum base
scrap. For the 12 months ended in September, prices for stage 1 intermediate demand advanced 13.5
percent, the largest 12-month rise since moving up 15.6 percent in June 2022.

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
Month	Total	Goods inputs	Services inputs	Total	Goods inputs	Services inputs	Total	Goods inputs	Services inputs	Total	Goods inputs	Services inputs
2025
Sept.	0.3	0.4	0.2	0.1	-0.1	0.3	-0.1	-0.6	0.2	0.4	0.5	0.4
Oct.	0.3	0.2	0.5	-0.2	-0.9	0.3	-0.2	-1.0	0.3	0.3	0.0	0.5
Nov.	0.4	0.4	0.4	0.2	0.3	0.1	0.6	2.2	-0.4	0.4	0.5	0.4
Dec.	0.6	0.2	0.9	0.1	-0.5	0.6	1.7	3.2	0.6	0.4	-0.1	0.7
2026
Jan.	0.6	0.2	1.0	0.2	-0.4	0.7	1.9	4.5	0.3	0.9	0.8	0.9
Feb.	0.7	0.9	0.6	0.8	1.8	-0.2	2.2	5.0	0.4	1.1	1.8	0.3
Mar.	0.4	0.9	-0.1	1.4	2.4	0.5	0.8	1.9	0.0	1.7	3.0	0.2
Apr.	0.9	1.1	0.6	1.6	2.3	1.0	2.1	3.8	1.0	2.3	3.1	1.1
May(1)	1.1	1.4	0.8	1.7	2.8	0.5	1.6	3.5	0.3	2.6	4.0	0.8
June(1)	0.4	-0.1	0.8	-0.1	-0.9	0.7	-1.8	-5.6	0.8	-0.3	-1.2	0.9
July(1)	0.4	0.4	0.5	-0.2	-0.2	-0.1	-0.4	-1.1	0.1	-0.1	-0.6	0.4
Aug.(1)	0.6	0.6	0.7	1.0	1.4	0.5	0.9	1.4	0.5	1.7	2.3	1.1
Sept.	1.1	1.2	0.9	1.1	1.3	0.8	3.9	8.9	0.5	2.2	3.1	1.1
Footnotes (1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for May through August have been revised to reflect the availability of late reports and corrections by respondents.

________________
The Producer Price Index news release for October 2026 is scheduled to be published on Friday, 
November 13, 2026, at 8:30 a.m. (ET).

Technical notes

Table 1. Producer price index percent changes and weights for Final Demand - Intermediate Demand groupings, seasonally adjusted

Table 2. Producer price index percent changes for selected commodity groupings by Final Demand - Intermediate Demand category, seasonally adjusted

Table 3. Producer price indexes Final Demand - Intermediate Demand groupings, seasonally adjusted

HTML version of the entire news release

The PDF version of the news release

News release charts

Supplemental Files Table of Contents

Table of Contents

Last Modified Date: October 15, 2026