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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.
United States Department of Labor
