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Producer prices up 2.2 percent from September 2022 to September 2023

October 16, 2023

The Producer Price Index for final demand rose 2.2 percent from September 2022 to September 2023, the largest 12-month increase since April 2023. Producer prices increased 0.8 percent for goods and 2.9 percent for services over the year ended in September 2023.

Producer Price Indexes for final demand, 12-month percent change, September 2018–September 2023
Month Total Goods Foods Energy Goods less foods and energy Services Trade Transportation and warehousing Services less trade, transportation, and warehousing Total less foods, energy, and trade services

Sep 2018

2.7 3.4 -1.2 10.0 2.8 2.5 0.9 6.1 2.8 3.1

Oct 2018

3.1 3.8 -0.6 12.6 2.7 2.6 1.6 6.6 2.7 3.0

Nov 2018

2.6 2.6 0.4 4.1 2.7 2.6 2.0 6.4 2.6 2.9

Dec 2018

2.6 1.6 2.8 -3.1 2.6 3.0 3.1 6.5 2.6 2.8

Jan 2019

1.9 0.6 1.3 -7.4 2.5 2.6 2.5 6.4 2.1 2.6

Feb 2019

1.9 0.7 1.6 -6.5 2.3 2.4 2.4 4.5 2.2 2.4

Mar 2019

2.0 1.2 0.0 -0.9 2.1 2.3 2.7 3.6 2.0 2.2

Apr 2019

2.4 1.7 1.2 1.2 1.9 2.7 3.3 3.9 2.3 2.4

May 2019

2.1 0.8 0.6 -2.2 1.6 2.7 2.7 3.9 2.5 2.4

Jun 2019

1.6 0.0 2.3 -6.8 1.3 2.3 2.2 3.1 2.3 2.1

Jul 2019

1.6 0.3 2.6 -5.3 1.2 2.3 2.7 2.9 2.1 1.9

Aug 2019

1.9 -0.1 2.3 -6.7 1.0 2.7 3.9 2.5 2.2 1.9

Sep 2019

1.5 -0.5 2.7 -8.4 0.9 2.3 3.2 1.1 2.0 1.7

Oct 2019

1.0 -0.6 3.2 -8.8 0.7 1.9 2.2 0.9 1.8 1.5

Nov 2019

1.0 0.2 3.4 -4.4 0.6 1.4 0.8 0.1 1.8 1.4

Dec 2019

1.4 1.0 1.2 2.4 0.6 1.4 0.8 2.2 1.8 1.5

Jan 2020

2.0 1.8 2.8 6.4 0.6 1.9 1.5 0.7 2.2 1.5

Feb 2020

1.1 0.6 1.1 0.1 0.6 1.4 0.7 1.0 1.7 1.4

Mar 2020

0.3 -1.7 0.7 -12.6 0.4 1.3 1.4 -1.8 1.5 1.0

Apr 2020

-1.5 -5.2 0.3 -30.7 0.2 0.3 1.7 -5.7 0.3 -0.1

May 2020

-1.1 -3.6 6.5 -27.5 0.2 0.2 1.5 -4.9 0.1 -0.2

Jun 2020

-0.7 -2.6 0.6 -17.2 0.3 0.3 1.2 -3.9 0.3 0.1

Jul 2020

-0.3 -2.2 -0.4 -14.2 0.5 0.7 1.9 -4.7 0.6 0.3

Aug 2020

-0.3 -1.6 -0.1 -12.3 0.8 0.3 1.1 -5.2 0.7 0.4

Sep 2020

0.3 -1.0 1.3 -11.7 1.1 0.9 1.7 -4.2 1.2 0.8

Oct 2020

0.6 -1.0 2.2 -12.6 1.0 1.3 2.5 -3.4 1.3 0.9

Nov 2020

0.8 -0.8 0.9 -11.0 1.3 1.6 3.1 -3.8 1.4 1.0

Dec 2020

0.8 0.0 -0.2 -6.8 1.7 1.3 1.9 -5.9 1.7 1.3

Jan 2021

1.6 1.3 1.2 -2.7 2.3 1.8 2.3 -4.1 2.3 1.9

Feb 2021

3.0 3.5 4.5 5.9 2.7 2.6 3.4 -2.9 2.8 2.3

Mar 2021

4.1 7.0 5.1 23.7 3.6 2.9 2.6 1.6 3.2 3.1

Apr 2021

6.5 10.9 7.3 48.9 4.8 4.5 3.8 9.0 4.5 4.8

May 2021

7.0 11.1 4.3 46.4 6.1 5.1 5.8 7.8 4.6 5.3

Jun 2021

7.6 11.9 10.9 36.0 7.0 5.5 6.8 8.0 4.8 5.6

Jul 2021

8.0 12.1 10.4 33.9 7.6 6.0 7.6 11.4 4.8 6.0

Aug 2021

8.7 12.7 13.0 33.0 8.0 6.8 10.0 13.2 4.7 6.2

Sep 2021

8.8 13.4 13.3 36.2 8.3 6.7 10.4 11.3 4.5 6.1

Oct 2021

8.9 14.3 10.6 43.0 8.9 6.2 9.4 10.9 4.3 6.2

Nov 2021

9.9 14.9 11.8 42.9 9.4 7.5 11.8 14.6 4.8 7.0

Dec 2021

10.0 13.4 13.1 31.6 9.3 8.4 14.2 17.0 4.8 7.0

Jan 2022

10.1 13.6 13.2 31.3 9.4 8.2 14.8 15.9 4.3 6.9

Feb 2022

10.4 14.4 14.0 33.0 9.7 8.4 16.4 16.8 3.8 6.7

Mar 2022

11.7 15.8 16.1 37.4 10.0 9.4 18.9 21.8 3.8 7.1

Apr 2022

11.2 16.4 16.3 39.8 10.2 8.3 16.7 20.6 3.1 6.8

May 2022

11.1 16.7 13.6 44.9 9.8 8.0 15.3 23.4 3.0 6.8

Jun 2022

11.2 17.6 12.5 52.9 9.2 7.8 14.8 22.9 2.8 6.4

Jul 2022

9.7 14.7 15.1 35.8 8.5 6.9 13.8 19.1 2.3 5.8

Aug 2022

8.7 12.3 12.8 26.6 8.1 6.5 12.5 16.8 2.5 5.6

Sep 2022

8.5 11.3 12.0 24.0 7.5 6.7 12.4 17.8 2.7 5.6

Oct 2022

8.2 10.5 13.0 21.3 6.7 6.7 11.9 16.9 3.0 5.5

Nov 2022

7.4 9.6 15.3 16.3 6.1 6.0 10.7 12.9 2.9 4.9

Dec 2022

6.4 7.9 14.3 9.4 5.8 5.3 9.2 10.8 2.8 4.7

Jan 2023

5.7 7.7 11.2 11.1 5.6 4.5 6.9 10.5 2.6 4.4

Feb 2023

4.7 5.3 6.7 4.6 5.1 4.2 5.0 7.8 3.3 4.5

Mar 2023

2.7 1.9 4.5 -7.3 4.3 2.7 2.1 1.2 3.2 3.7

Apr 2023

2.3 0.7 2.5 -8.3 3.3 2.8 2.2 -3.2 3.9 3.4

May 2023

1.1 -2.3 0.6 -18.3 2.7 2.6 2.5 -6.1 3.7 2.9

Jun 2023

0.2 -4.3 0.5 -23.9 2.0 2.4 1.3 -6.8 4.0 2.8

Jul 2023

1.1 -2.4 -0.3 -16.1 1.9 3.0 2.2 -6.3 4.5 2.9

Aug 2023

2.0 0.5 -0.7 -2.9 1.8 2.7 1.4 -5.6 4.4 2.9

Sep 2023

2.2 0.8 -1.2 -1.0 2.0 2.9 2.3 -5.7 4.2 2.8

Within goods, producer prices for foods declined 1.2 percent over the period. This was the largest 12-month decrease since September 2018, when prices also fell 1.2 percent. Energy prices decreased 1.0 percent for the year ended in September 2023.

Producer prices for trade services rose 2.3 percent from September 2022 to September 2023, while prices for transportation and warehousing services fell 5.7 percent. Annual decreases in transportation and warehousing prices have occurred in each of the last six months.

These data are from the Producer Price Indexes program and are not seasonally adjusted. To learn more, see "Producer Price Indexes — September 2023." 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 more 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 2.2 percent from September 2022 to September 2023 at https://www.bls.gov/opub/ted/2023/producer-prices-up-2-2-percent-from-september-2022-to-september-2023.htm (visited May 18, 2024).

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