April 2025 Producer Price Index

Historical release narrative reproduced from the official public-domain source. Statistical tables, standard technical appendices, administrative material and attendance rosters are omitted; formatting is adapted for reading. Figures retain the release's historical context and may have been revised. Consult the linked source for the complete document.

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.

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.

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.

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.

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.