September 2026 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 increased 1.3 percent in September, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices moved up 0.5 percent in August and 0.2 percent in July. (See table A.) The September increase is the largest advance since rising 1.7 percent in March 2022. On an unadjusted basis, the index for final demand climbed 6.3 percent for the 12 months ended in September, the largest 12-month increase since moving up 6.4 percent in December 2022.

In September, prices for final demand goods rose 2.6 percent, and the index for final demand services advanced 0.8 percent.

Prices for final demand less foods, energy, and trade services moved up 0.5 percent in September after increasing 0.3 percent in August. For the 12 months ended in September, the index for final demand less foods, energy, and trade services rose 5.0 percent.

Final Demand

Final demand goods: Prices for final demand goods advanced 2.6 percent in September, the largest increase since data were first calculated in December 2009. Over 80 percent of the broad-based rise in September is attributable to the index for final demand energy, which jumped 10.8 percent. Prices for final demand foods and for final demand goods less foods and energy advanced 1.2 percent and 0.3 percent, respectively.

Product detail: Half of the September increase in the index for final demand goods can be traced to prices for gasoline, which jumped 20.3 percent. The indexes for diesel fuel, fresh and dry vegetables, jet fuel, residential electric power, and crude petroleum also rose. In contrast, prices for chicken eggs dropped 39.7 percent. The indexes for thermoplastic resins and materials and for commercial electric power also declined. (See table 2.)

Final demand services: Prices for final demand services moved up 0.8 percent in September, the largest rise since advancing 0.8 percent in April. Nearly half of the broad-based September increase can be attributed to a 1.4-percent rise in margins for final demand trade services. The indexes for final demand transportation and warehousing services and for final demand services less trade, transportation, and warehousing also advanced, 3.4 percent and 0.3 percent, respectively.

Product detail: Over 20 percent of the September increase in prices for final demand services can be traced to margins for machinery and vehicle wholesaling, which advanced 3.9 percent. The indexes for truck transportation of freight, food and alcohol wholesaling, traveler accommodation services, food retailing, and airline passenger services also rose. Conversely, margins for automotive fuels and lubricants retailing dropped 30.3 percent. The indexes for securities brokerage, dealing, and investment advice and for chemicals and allied products wholesaling also fell.

Intermediate Demand by Commodity Type

Within intermediate demand in September, price increases were broad-based, with the index for processed goods rising 2.5 percent, prices for unprocessed goods moving up 8.4 percent, and the index for services advancing 0.9 percent. (See tables B and C.)

Processed goods for intermediate demand: The index for processed goods for intermediate demand moved up 2.5 percent in September, the largest rise since jumping 2.8 percent in May. Over 80 percent of the September advance is attributable to a 10.2-percent increase in prices for processed energy goods. The indexes for processed materials less foods and energy and for processed foods and feeds also moved up, 0.5 percent and 0.4 percent, respectively. For the 12 months ended in September, prices for processed goods for intermediate demand rose 14.1 percent, the largest 12-month increase since advancing 14.3 percent in August 2022.

Product detail: Nearly half of the September rise in the index for processed goods for intermediate demand can be traced to a 21.0-percent increase in prices for diesel fuel. The indexes for gasoline, jet fuel, lubricating oil base stocks, prepared animal feeds, and fabricated structural metal products also moved higher. In contrast, prices for commercial electric power declined 0.6 percent. The indexes for thermoplastic resins and materials and for dry sausage also fell.

Unprocessed goods for intermediate demand: Prices for unprocessed goods for intermediate demand moved up 8.4 percent in September, the largest increase since rising 9.2 percent in February 2022. Over 80 percent of the September advance is attributable to the index for unprocessed energy materials, which jumped 22.2 percent. Prices for unprocessed nonfood materials less energy and for unprocessed foodstuffs and feedstuffs also moved up, 2.5 percent and 0.8 percent, respectively. For the 12 months ended in September, the index for unprocessed goods for intermediate demand rose 21.5 percent, the largest 12- month increase since advancing 29.2 percent in September 2022.

Product detail: Leading the September increase in prices for unprocessed goods for intermediate demand, the index for crude petroleum jumped 28.3 percent. Prices for grains; hay, hayseeds, and oilseeds; natural gas; fresh and dry vegetables; and nonferrous metal ores also rose. Conversely, the index for raw milk decreased 12.3 percent. Prices for slaughter chickens and for aluminum base scrap also declined.

Services for intermediate demand: The index for services for intermediate demand rose 0.9 percent in September, the largest increase since moving up 0.9 percent in April. Over 40 percent of the advance in September can be traced to margins for trade services for intermediate demand, which jumped 2.0 percent. Prices for transportation and warehousing services for intermediate demand and for services less trade, transportation, and warehousing for intermediate demand also increased, 1.8 percent and 0.3 percent, respectively. For the 12 months ended in September, the index for services for intermediate demand rose 6.3 percent, the largest 12-month advance since moving up 6.3 percent in January 2023.

Product detail: Nearly a quarter of the September rise in prices for services for intermediate demand can be traced to a 6.7-percent increase in margins for food and alcohol wholesaling. The indexes for truck transportation of freight; machinery and equipment parts and supplies wholesaling; airline passenger services; courier, messenger, and U.S. postal services; and traveler accommodation services also moved higher. In contrast, prices for securities brokerage, dealing, and investment advice fell 2.9 percent. The indexes for automotive fuels and lubricants retailing and for chemicals and allied products wholesaling also decreased.

Intermediate Demand by Production Flow

Stage 4 intermediate demand: Prices for stage 4 intermediate demand rose 1.1 percent in September, the largest advance since increasing 1.1 percent in May. In September, the index for total goods inputs to stage 4 intermediate demand jumped 1.2 percent, and prices for total services inputs moved up 0.9 percent. (See table D.) Advances in the indexes for gasoline, diesel fuel, food and alcohol wholesaling, machinery and equipment parts and supplies wholesaling, truck transportation of freight, and grains outweighed declines in the indexes for securities brokerage, dealing, and investment advice; chemicals and allied products wholesaling; and commercial electric power. For the 12 months ended in September, prices for stage 4 intermediate demand rose 7.9 percent, the largest 12-month increase since moving up 7.9 percent in October 2022.

Stage 3 intermediate demand: The index for stage 3 intermediate demand increased 1.1 percent in September, the largest advance since rising 1.7 percent in May. In September, prices for total goods inputs to stage 3 intermediate demand moved up 1.3 percent, and the index for total services inputs climbed 0.8 percent. Higher prices for diesel fuel; grains; gasoline; truck transportation of freight; courier, messenger, and U.S. postal services; and lubricating oil base stocks outweighed decreases in the indexes for raw milk, slaughter chickens, and automotive fuels and lubricants retailing. For the 12 months ended in September, prices for stage 3 intermediate demand advanced 7.7 percent, the largest 12-month rise since moving up 8.1 percent in November 2022.

Stage 2 intermediate demand: Prices for stage 2 intermediate demand increased 3.9 percent in September, the largest rise since advancing 4.2 percent in February 2022. In September, the index for total goods inputs to stage 2 intermediate demand jumped 8.9 percent, and prices for total services inputs moved up 0.5 percent. Increases in the indexes for crude petroleum; diesel fuel; gas fuels; food and alcohol wholesaling; hay, hayseeds, and oilseeds; and gasoline outweighed declines in the indexes for automotive fuels and lubricants retailing; securities brokerage, dealing, and investment advice; and thermoplastic resins and materials. For the 12 months ended in September, prices for stage 2 intermediate demand advanced 13.9 percent, the largest 12-month rise since moving up 16.1 percent in September 2022.

Stage 1 intermediate demand: The index for stage 1 intermediate demand increased 2.2 percent in September, the largest advance since rising 2.6 percent in May. In September, prices for total goods inputs to stage 1 intermediate demand moved up 3.1 percent, and the index for total services inputs climbed 1.1 percent. Higher prices for diesel fuel, gasoline, grains, crude petroleum, truck transportation of freight, and jet fuel outweighed decreases in the indexes for securities brokerage, dealing, and investment advice; chemicals and allied products wholesaling; and aluminum base scrap. For the 12 months ended in September, prices for stage 1 intermediate demand advanced 13.5 percent, the largest 12-month rise since moving up 15.6 percent in June 2022.

The Producer Price Index news release for October 2026 is scheduled to be published on Friday, November 13, 2026, at 8:30 a.m. (ET).