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Producer prices up 8.0 percent from October 2021 to October 2022

November 22, 2022

The Producer Price Index for final demand increased 8.0 percent from October 2021 to October 2022, the smallest 12-month advance since July 2021. Producer prices for goods rose 10.5 percent for the year ended October 2022, while prices for services rose 6.3 percent. Prices for construction increased 19.6 percent.

12-month percent change in Producer Price Indexes for final demand, January 2011–October 2022
Month Total Goods Services Construction

Jan 2011

2.4% 4.6% 1.2% 0.8%

Feb 2011

3.3 6.6 1.4 0.8

Mar 2011

4.0 6.7 2.3 1.0

Apr 2011

4.2 7.6 2.2 1.5

May 2011

4.2 8.0 2.0 1.5

Jun 2011

4.3 8.2 2.3 1.6

Jul 2011

4.5 8.3 2.3 2.6

Aug 2011

4.4 7.6 2.7 2.8

Sep 2011

4.5 7.9 2.6 2.7

Oct 2011

3.7 6.4 2.2 3.7

Nov 2011

3.7 5.8 2.4 3.9

Dec 2011

3.2 4.7 2.3 3.8

Jan 2012

3.1 4.0 2.4 4.0

Feb 2012

2.8 3.3 2.4 4.0

Mar 2012

2.4 2.8 2.0 4.2

Apr 2012

2.0 1.6 2.1 3.7

May 2012

1.6 0.5 2.2 3.7

Jun 2012

1.3 0.1 1.9 3.7

Jul 2012

1.0 -0.1 1.6 2.6

Aug 2012

1.2 1.4 1.0 2.6

Sep 2012

1.5 1.7 1.3 2.6

Oct 2012

1.9 2.1 1.8 1.4

Nov 2012

1.7 1.1 2.0 1.3

Dec 2012

1.9 1.4 2.2 1.4

Jan 2013

1.6 1.3 1.8 1.3

Feb 2013

1.6 1.5 1.6 1.3

Mar 2013

1.3 0.7 1.6 1.1

Apr 2013

0.9 0.1 1.4 1.1

May 2013

0.9 1.1 0.9 1.2

Jun 2013

1.7 1.9 1.4 1.2

Jul 2013

2.0 1.8 2.0 1.7

Aug 2013

1.7 0.7 2.2 1.7

Sep 2013

1.1 -0.2 1.8 2.0

Oct 2013

1.3 -0.2 2.0 3.0

Nov 2013

1.1 0.4 1.5 3.1

Dec 2013

1.2 0.8 1.3 3.2

Jan 2014

1.3 1.1 1.3 3.2

Feb 2014

1.2 0.6 1.6 3.3

Mar 2014

1.6 1.2 1.8 3.4

Apr 2014

1.8 2.5 1.6 3.3

May 2014

2.1 2.0 2.2 3.2

Jun 2014

1.8 2.2 1.7 3.3

Jul 2014

1.9 2.0 2.0 3.2

Aug 2014

1.9 1.7 2.0 3.2

Sep 2014

1.6 1.5 1.6 3.0

Oct 2014

1.5 1.0 1.9 2.2

Nov 2014

1.3 0.4 1.8 2.1

Dec 2014

0.9 -1.2 2.1 2.2

Jan 2015

0.0 -3.6 2.0 2.0

Feb 2015

-0.5 -4.1 1.2 2.0

Mar 2015

-0.9 -4.5 0.9 1.9

Apr 2015

-1.1 -5.5 1.2 1.6

May 2015

-0.8 -4.0 0.8 1.7

Jun 2015

-0.5 -3.7 1.1 1.6

Jul 2015

-0.7 -3.8 0.8 1.8

Aug 2015

-1.0 -4.3 0.7 1.8

Sep 2015

-1.1 -5.1 0.9 1.8

Oct 2015

-1.4 -4.8 0.3 2.2

Nov 2015

-1.3 -4.4 0.4 2.2

Dec 2015

-1.1 -3.8 0.2 2.1

Jan 2016

0.0 -2.4 1.2 1.3

Feb 2016

0.1 -2.8 1.6 1.2

Mar 2016

-0.1 -2.8 1.3 1.1

Apr 2016

0.2 -2.0 1.2 2.1

May 2016

0.0 -2.5 1.4 2.0

Jun 2016

0.2 -2.2 1.5 2.0

Jul 2016

0.0 -2.2 1.1 0.7

Aug 2016

0.0 -1.9 1.0 0.7

Sep 2016

0.6 -0.4 1.4 0.7

Oct 2016

1.1 0.4 1.6 0.6

Nov 2016

1.3 0.5 1.7 0.7

Dec 2016

1.7 1.9 1.6 0.5

Jan 2017

1.7 3.1 1.1 1.3

Feb 2017

2.0 4.0 1.0 1.3

Mar 2017

2.2 4.1 1.3 1.5

Apr 2017

2.5 4.1 1.7 1.0

May 2017

2.3 2.9 2.0 1.1

Jun 2017

1.9 2.2 1.7 1.2

Jul 2017

2.0 2.3 1.9 3.3

Aug 2017

2.4 3.1 2.2 3.3

Sep 2017

2.6 3.4 2.1 3.2

Oct 2017

2.8 3.2 2.4 3.0

Nov 2017

3.0 4.2 2.3 2.9

Dec 2017

2.5 3.5 2.1 3.1

Jan 2018

2.6 3.2 2.2 3.6

Feb 2018

2.8 3.1 2.7 3.6

Mar 2018

2.9 3.3 2.8 3.6

Apr 2018

2.7 3.0 2.5 4.2

May 2018

3.1 4.3 2.4 4.1

Jun 2018

3.3 4.4 2.7 4.2

Jul 2018

3.4 4.4 2.7 3.3

Aug 2018

3.0 3.9 2.5 3.4

Sep 2018

2.7 3.4 2.5 3.5

Oct 2018

3.1 3.8 2.6 4.9

Nov 2018

2.6 2.6 2.6 5.2

Dec 2018

2.6 1.6 3.0 5.2

Jan 2019

1.9 0.6 2.6 5.0

Feb 2019

1.9 0.7 2.4 5.0

Mar 2019

2.0 1.2 2.3 5.1

Apr 2019

2.4 1.7 2.7 5.4

May 2019

2.1 0.8 2.7 5.5

Jun 2019

1.6 0.0 2.3 5.3

Jul 2019

1.6 0.3 2.3 5.6

Aug 2019

1.9 -0.1 2.7 5.5

Sep 2019

1.5 -0.5 2.3 5.6

Oct 2019

1.0 -0.6 1.9 3.9

Nov 2019

1.0 0.2 1.4 3.8

Dec 2019

1.4 1.0 1.4 3.9

Jan 2020

2.0 1.8 1.9 3.7

Feb 2020

1.1 0.6 1.4 3.8

Mar 2020

0.3 -1.7 1.3 3.5

Apr 2020

-1.5 -5.2 0.3 2.7

May 2020

-1.1 -3.6 0.2 2.4

Jun 2020

-0.7 -2.6 0.3 2.4

Jul 2020

-0.3 -2.2 0.7 2.2

Aug 2020

-0.3 -1.6 0.3 1.9

Sep 2020

0.3 -1.0 0.9 1.7

Oct 2020

0.6 -1.0 1.3 1.2

Nov 2020

0.8 -0.8 1.6 1.3

Dec 2020

0.8 0.0 1.3 1.2

Jan 2021

1.6 1.3 1.8 0.8

Feb 2021

3.0 3.5 2.6 0.9

Mar 2021

4.1 7.0 2.9 1.4

Apr 2021

6.5 10.9 4.5 2.1

May 2021

7.0 11.1 5.1 2.8

Jun 2021

7.6 11.9 5.5 3.2

Jul 2021

8.0 12.1 6.0 4.4

Aug 2021

8.7 12.7 6.8 5.0

Sep 2021

8.8 13.4 6.7 5.3

Oct 2021

8.9 14.3 6.2 11.8

Nov 2021

9.9 14.9 7.5 12.0

Dec 2021

10.0 13.4 8.4 12.2

Jan 2022

10.1 13.6 8.2 15.7

Feb 2022

10.4 14.4 8.4 16.2

Mar 2022

11.7 15.8 9.4 16.4

Apr 2022

11.2 16.4 8.3 19.1

May 2022

11.1 16.7 8.0 18.9

Jun 2022

11.2 17.6 7.8 19.3

Jul 2022

9.7 14.7 6.9 23.3

Aug 2022

8.7 12.3 6.5 23.1

Sep 2022

8.4 11.3 6.6 23.2

Oct 2022

8.0 10.5 6.3 19.6

Within goods, foods prices increased 12.7 percent and energy prices increased 21.8 percent from October 2021 to October 2022. Producer prices for goods less foods and energy rose 6.6 percent, as prices increased for industrial chemicals (4.9 percent), pharmaceutical preparations (2.3 percent), passenger cars (2.2 percent), trucks, 14,000 lbs. and under (6.2 percent), aircraft and aircraft equipment (4.3 percent), and cigarettes, including nontobacco (10.2 percent).

12-month percent change in Producer Price Indexes for final demand components, October 2022
Commodity 12-month percent change

Goods

10.5%

Foods

12.7

Fresh fruits and melons

34.5

Fresh and dry vegetables

45.8

Meats

-6.0

Processed poultry

-2.1

Dairy products

17.9

Soft drinks

14.7

Energy

21.8

Residential electric power

14.1

Residential natural gas

19.0

Gasoline

17.9

Jet fuel

54.1

Home heating oil and distillates

62.2

No. 2 diesel fuel

61.5

Goods less foods and energy

6.6

Industrial chemicals

4.9

Pharmaceutical preparations

2.3

Passenger cars

2.2

Trucks, 14,000 lbs. and under

6.2

Aircraft and aircraft equipment

4.3

Cigarettes, including nontobacco

10.2

Services

6.3

Trade services

11.1

Machinery and equipment and parts and supplies wholesaling

12.7

Food and alcohol retailing

20.5

Health and beauty retailing, including optical goods

2.3

Apparel, jewelry, footwear, and accessories retailing

2.6

Automobiles and automobile parts retailing

8.7

Fuels and lubricants retailing

20.9

Transportation and warehousing services

16.1

Rail transportation of freight and mail

8.7

Truck transportation of freight

11.8

Water transportation of freight

26.2

Air transportation of freight

5.0

Courier, messenger, and U.S. postal service

8.3

Airline passenger services

30.9

Less trade, transportation, and warehousing

3.0

Loan services (partial)

29.5

Securities brokerage, dealing, investment advice, and related services

15.8

Portfolio management

-12.6

Outpatient care (partial)

1.7

Inpatient care

4.5

Traveler accommodation services

16.8

Within services, producer prices for trade services rose 11.1 percent for the year ended October 2022, while producer prices for transportation and warehousing services rose 16.1 percent.

Producer prices for services less trade, transportation, and warehousing rose 3.0 percent, as prices advanced for loan services (29.5 percent), securities brokerage, dealing, investment advice, and related services (15.8 percent), outpatient care (1.7 percent), inpatient care (4.5 percent), and traveler accommodation services (16.8 percent). Producer prices for portfolio management decreased 12.6 percent from October 2021 to October 2022.

These data are from the Producer Price Indexes program and are not seasonally adjusted. To learn more, see "Producer Price Indexes — October 2022." Producer price indexes measure prices that U.S. producers receive for goods, services, and construction. All producer price data are subject to revision in each month after initial publication before becoming final 4 months after initial publication. We also have charts related to the latest "U.S. Producer Price Indexes" news release.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Producer prices up 8.0 percent from October 2021 to October 2022 at https://www.bls.gov/opub/ted/2022/producer-prices-up-8-0-percent-from-october-2021-to-october-2022.htm (visited November 29, 2022).

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