Producer Price Index News Release summary

Transmission of material in this release is embargoed until USDL 25-0788
8:30 a.m. (ET) Thursday, May 15, 2025

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

PRODUCER PRICE INDEXES - APRIL 2025

The Producer Price Index for final demand fell 0.5 percent in April, seasonally adjusted, the U.S.
Bureau of Labor Statistics reported today. Final demand prices were unchanged in March and
increased 0.2 percent in February. (See table A.) On an unadjusted basis, the index for final
demand rose 2.4 percent for the 12 months ended in April.

The April decline in the index for final demand is attributable to prices for final demand services,
which decreased 0.7 percent. The index for final demand goods was unchanged.

Prices for final demand less foods, energy, and trade services edged down 0.1 percent in April,
the first decline since falling 0.8 percent in April 2020. For the 12 months ended April 2025, the
index for final demand less foods, energy, and trade services advanced 2.9 percent.

Final Demand

Final demand services: Prices for final demand services moved down 0.7 percent in April, the
largest decline since the index began in December 2009. Over two-thirds of the broad-based decrease
can be traced to margins for final demand trade services, which dropped 1.6 percent. (Trade indexes
measure changes in margins received by wholesalers and retailers.) Prices for final demand services
less trade, transportation, and warehousing and for final demand transportation and warehousing
services fell 0.3 percent and 0.4 percent, respectively.

Product detail: Over 40 percent of the April decline in the index for final demand services is
attributable to margins for machinery and vehicle wholesaling, which dropped 6.1 percent. The
indexes for portfolio management, food and alcohol wholesaling, system software publishing,
traveler accommodation services, and airline passenger services also fell. Conversely, prices for
outpatient care (partial) advanced 0.3 percent. The indexes for furniture retailing and for inpatient
care also moved up. (See table 2.)

Final demand goods: Prices for final demand goods were unchanged in April following a 0.9-
percent decrease in March. In April, the index for final demand goods less foods and energy
increased 0.4 percent. In contrast, prices for final demand foods and for final demand energy declined
1.0 percent and 0.4 percent, respectively.

Product detail: Among final demand goods in April, the index for general purpose machinery and
equipment advanced 1.1 percent. Prices for residential electric power, fresh and dry vegetables, non-
electronic cigarettes, and utility natural gas also moved up. Conversely, the index for chicken eggs
dropped 39.4 percent. Prices for gasoline, gas fuels, diesel fuel, and primary basic organic chemicals
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.)
2024
Apr.	0.5	0.5	0.3	-0.1	1.0	0.3	0.6	0.5	-0.6	0.7	2.3	3.2
May	0.0	0.2	-0.6	-0.3	-3.5	0.3	0.3	0.6	-0.6	0.3	2.5	3.4
June	0.4	0.2	-0.2	0.2	-1.6	0.1	0.7	1.8	-0.1	0.2	2.9	3.4
July	0.0	0.4	0.4	0.2	1.5	0.2	-0.2	-1.7	1.2	0.4	2.4	3.5
Aug.	0.3	0.2	0.0	0.7	-1.5	0.2	0.5	1.1	-0.7	0.4	2.1	3.5
Sept.	0.3	0.2	-0.2	0.5	-2.0	0.1	0.5	1.2	0.0	0.3	2.1	3.4
Oct.	0.3	0.3	0.1	-0.6	0.3	0.2	0.4	0.7	0.3	0.3	2.8	3.6
Nov.	0.1	0.1	0.6	2.1	0.4	0.2	-0.1	-0.6	-0.2	0.1	2.9	3.6
Dec.(1)	0.5	0.4	0.5	0.3	2.2	0.1	0.5	0.5	2.5	0.3	3.5	3.6
2025
Jan.(1)	0.7	0.4	0.7	1.0	2.0	0.2	0.7	1.2	0.5	0.4	3.8	3.5
Feb.(1)	0.2	0.4	0.3	1.7	-1.4	0.3	0.1	-0.7	0.0	0.5	3.4	3.6
Mar.(1)	0.0	0.2	-0.9	-2.1	-3.8	0.3	0.4	1.2	-1.1	0.3	3.4	3.5
Apr.	-0.5	-0.1	0.0	-1.0	-0.4	0.4	-0.7	-1.6	-0.4	-0.3	2.4	2.9
Footnotes (1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for December through March have been revised to reflect the availability of late reports and corrections by respondents.

Intermediate Demand by Commodity Type

Within intermediate demand in April, prices for processed goods rose 0.2 percent, the index for
unprocessed goods fell 3.2 percent, and prices for services were unchanged. (See tables B and C.)

Processed goods for intermediate demand: The index for processed goods for intermediate
demand moved up 0.2 percent in April after edging down 0.1 percent in March. The advance can be
traced to a 0.5-percent increase in prices for processed materials less foods and energy. In contrast,
the indexes for processed foods and feeds and for processed energy goods declined 1.0 percent and
0.2 percent, respectively. For the 12 months ended in April, prices for processed goods for
intermediate demand moved up 0.5 percent.

Product detail: A 9.4-percent advance in the index for cold rolled steel sheet and strip was a major
factor in the April increase in prices for processed goods for intermediate demand. The indexes for
electric power, confectionery materials, utility natural gas, general purpose machinery and
equipment, and steel pipe and tube also rose. Conversely, prices for formula feeds declined 1.8
percent. The indexes for primary basic organic chemicals and for diesel fuel also moved lower.

Unprocessed goods for intermediate demand: Prices for unprocessed goods for intermediate
demand moved down 3.2 percent in April after falling 3.4 percent in March. Nearly 60 percent of the
April decline is attributable to a 5.0-percent decrease in the index for unprocessed energy materials.
Prices for unprocessed foodstuffs and feedstuffs moved down 3.8 percent. In contrast, the index for
unprocessed nonfood materials less energy advanced 0.7 percent. For the 12 months ended in April,
prices for unprocessed goods for intermediate demand rose 1.7 percent.

Product detail: Over one-third of the April decrease in prices for unprocessed goods for intermediate
demand can be traced to a 4.9-percent decline in the index for crude petroleum. Prices for ungraded
chicken eggs, natural gas, raw milk, slaughter poultry, and copper base scrap also fell. Conversely,
the index for nonferrous metal ores increased 7.5 percent. Prices for hay, hayseeds, and oilseeds and
for slaughter cattle also moved higher.

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.)
2024
Apr.	0.5	-0.1	1.2	0.4	-0.6	2.4	0.0	6.0	0.7	-5.0
May	-1.2	0.4	-6.6	0.1	-0.6	-0.3	2.0	-3.9	1.8	-0.1
June	-0.1	0.6	-0.9	0.0	-0.2	0.5	-1.2	3.1	-0.9	1.7
July	0.5	1.0	2.4	0.0	0.8	2.0	1.6	3.2	0.8	1.4
Aug.	-0.1	0.2	-0.8	0.1	-1.3	-3.2	-0.9	-6.7	-0.9	-3.9
Sept.	-0.8	0.7	-4.1	-0.1	-2.7	-1.9	3.1	-9.6	1.5	-8.2
Oct.	0.3	-0.2	1.0	0.2	-1.4	2.3	-1.5	7.6	1.1	-4.2
Nov.	0.1	0.6	-0.5	0.1	-0.6	0.0	2.6	-3.0	0.2	-2.2
Dec.(1)	0.2	0.3	1.1	-0.1	0.1	2.9	1.2	8.0	-1.7	4.5
2025
Jan.(1)	1.1	0.8	3.8	0.4	1.0	5.7	2.4	12.3	1.1	8.2
Feb.(1)	0.4	2.0	-0.1	0.3	0.3	0.6	4.0	-3.3	1.6	9.7
Mar.(1)	-0.1	-0.5	-2.7	0.7	0.7	-3.4	-5.9	-3.2	0.3	7.4
Apr.	0.2	-1.0	-0.2	0.5	0.5	-3.2	-3.8	-5.0	0.7	1.7
Footnotes (1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for December through March 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 was unchanged 
in April after moving up 0.3 percent in March. In April, prices for services less trade, transportation, 
and warehousing for intermediate demand and for transportation and warehousing services for 
intermediate demand advanced 0.3 percent and 0.2 percent, respectively. In contrast, the index for 
trade services for intermediate demand fell 1.2 percent. For the 12 months ended in April, prices for 
services for intermediate demand rose 2.4 percent.

Product Detail: Within the index for services for intermediate demand in April, prices for gross rents 
for retail properties rose 4.8 percent. The indexes for machinery and equipment parts and supplies 
wholesaling, staffing services, business loans (partial), and pipeline transportation also advanced. 
Conversely, margins for food and alcohol wholesaling decreased 3.7 percent. The indexes for 
portfolio management; metals, minerals, and ores wholesaling; chemicals and allied products 
wholesaling; and airline passenger services also moved lower.

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.)
2024
Apr.	0.2	-0.4	0.4	0.4	3.4
May	0.3	0.6	0.5	0.1	3.5
June	0.5	0.8	-0.3	0.5	4.0
July	0.3	0.4	0.7	0.2	3.6
Aug.	0.1	0.2	-0.2	0.2	3.8
Sept.	0.2	0.3	0.1	0.2	3.6
Oct.	0.1	0.2	0.3	0.0	3.8
Nov.	-0.2	0.7	0.1	-0.4	3.0
Dec.(1)	0.6	-0.1	1.2	0.6	3.1
2025
Jan.(1)	0.1	0.9	0.3	-0.2	2.4
Feb.(1)	0.1	0.6	0.1	-0.1	2.5
Mar.(1)	0.3	2.9	-0.3	-0.2	2.6
Apr.	0.0	-1.2	0.2	0.3	2.4
Footnotes (1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for December through March 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 0.2 percent in April, the
seventh consecutive increase. In April, the index for total goods inputs to stage 4 intermediate
demand advanced 0.5 percent, while prices for total services inputs were unchanged. (See table D.)
Increases in the indexes for electric power; machinery and equipment parts and supplies wholesaling;
gross rents for retail properties; securities brokerage, dealing, investment advice, and related services;
staffing services; and confectionery materials outweighed declines in the indexes for portfolio
management, food and alcohol wholesaling, and paving mixtures and blocks. For the 12 months
ended in April, prices for stage 4 intermediate demand rose 2.4 percent.

Stage 3 intermediate demand: Prices for stage 3 intermediate demand decreased 0.4 percent in
April following a 0.5-percent decline in March. In April, the index for total goods inputs to stage 3
intermediate demand fell 1.1 percent. In contrast, prices for total services inputs edged up 0.1
percent. Declines in the indexes for ungraded chicken eggs; raw milk; slaughter poultry; primary
basic organic chemicals; slaughter hogs; and metals, minerals, and ores wholesaling outweighed
advances in prices for staffing services; hay, hayseeds, and oilseeds; and slaughter cattle. For the 12
months ended in April, the index for stage 3 intermediate demand rose 1.1 percent.

Stage 2 intermediate demand: Prices for stage 2 intermediate demand moved down 0.8 percent in
April, the largest decline since falling 0.8 percent in November 2024. In April, the index for total
goods inputs to stage 2 intermediate demand decreased 2.0 percent. Conversely, prices for total
services inputs inched up 0.1 percent. Declines in the indexes for crude petroleum, gas fuels, food
and alcohol wholesaling, primary basic organic chemicals, portfolio management, and formula feeds
outweighed increases in prices for business loans (partial), nonferrous metal ores, and staffing
services. For the 12 months ended in April, the index for stage 2 intermediate demand rose 0.9
percent.

Stage 1 intermediate demand: Prices for stage 1 intermediate demand were unchanged in April
after rising 0.2 percent in March. In April, a 0.2-percent advance in the index for total goods inputs to
stage 1 intermediate demand offset a 0.2-percent decline in prices for total services inputs. Increases
in the indexes for electric power; gross rents for retail properties; data processing and related
services; securities brokerage, dealing, investment advice, and related services; and machinery and
equipment parts and supplies wholesaling offset decreases in the indexes for portfolio management;
primary basic organic chemicals; diesel fuel; metals, minerals, and ores wholesaling; and traveler
accommodation services. For the 12 months ended in April, prices for stage 1 intermediate demand
rose 1.5 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
Month	Total	Goods inputs	Services inputs	Total	Goods inputs	Services inputs	Total	Goods inputs	Services inputs	Total	Goods inputs	Services inputs
2024
Apr.	0.4	0.4	0.4	0.2	0.3	0.1	1.3	2.8	0.2	0.3	0.4	0.1
May	-0.1	-0.2	0.0	-0.3	-1.2	0.4	-0.2	-1.3	0.5	-0.5	-1.3	0.2
June	0.1	-0.1	0.3	0.0	-0.3	0.3	0.7	1.2	0.5	0.1	-0.3	0.5
July	0.5	0.1	0.8	0.7	1.2	0.3	0.6	1.5	-0.1	0.6	0.7	0.5
Aug.	0.0	0.0	0.1	-0.2	-0.4	0.0	-1.1	-2.9	0.2	0.1	-0.1	0.2
Sept.	0.0	0.1	-0.1	-0.1	-0.5	0.3	-1.2	-3.7	0.6	-0.5	-0.9	-0.1
Oct.	0.2	0.1	0.3	0.0	-0.1	0.0	1.3	3.3	0.0	0.1	0.2	0.0
Nov.	0.1	0.3	-0.1	0.1	0.6	-0.3	-0.8	-1.4	-0.4	-0.1	0.0	-0.1
Dec.(1)	0.5	0.2	0.7	0.3	0.2	0.5	1.4	2.7	0.5	0.4	0.0	0.8
2025
Jan.(1)	0.4	0.5	0.4	1.0	2.0	0.3	1.9	5.5	-0.6	0.9	1.2	0.6
Feb.(1)	0.2	0.3	0.2	0.5	1.4	-0.2	-0.5	-1.2	-0.1	0.2	0.5	-0.1
Mar.(1)	0.2	0.0	0.4	-0.5	-1.7	0.5	-0.3	-1.3	0.4	0.2	0.1	0.3
Apr.	0.2	0.5	0.0	-0.4	-1.1	0.1	-0.8	-2.0	0.1	0.0	0.2	-0.2
Footnotes (1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for December through March have been revised to reflect the availability of late reports and corrections by respondents.

________________
The Producer Price Index for May 2025 is scheduled to be released on Thursday, June 12, 2025, 
at 8:30 a.m. (ET). 

                                               *****

                                    BLS to Discontinue Selected PPIs

With the release of Producer Price Index (PPI) data for July 2025 on August 14, 2025, BLS will 
end calculation and publication of 5 Final Demand-Intermediate Demand (FD-ID) indexes, 
listed below.     

FD-ID code                                 FD-ID Title
FD49103        Final demand less foods, food and nonalcoholic beverages for immediate consumption, 
               and energy
FD49105        Final demand less foods and food and nonalcoholic beverages for immediate 
               consumption
FD49202        Total finished less foods, food and nonalcoholic beverages for immediate 
               consumption, and energy
FD49204        Total finished less foods and food and nonalcoholic beverages for immediate 
               consumption
ID69215        Nonfood materials excluding fuel for manufacturing, excluding selected items

In addition, with the release of July 2025 PPI data, BLS will stop calculation and publication of 
about 350 PPIs from the industry, commodity, and special index categories. Details of these 
index eliminations are available at www.bls.gov/ppi/notices/2025/bls-to-discontinue-selected-
ppis.htm.

For further information, contact the PPI Section of Index Analysis and Public Information at 
ppi-info@bls.gov or (202) 691-7705.

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

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Last Modified Date: May 15, 2025