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Economic News Release
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Producer Price Index News Release summary

Transmission of material in this release is embargoed until                          USDL 21-1972
8:30 a.m. (ET), Tuesday, November 9, 2021

Technical information:      (202) 691-7705  *  ppi-info@bls.gov  *  www.bls.gov/ppi
Media contact:              (202) 691-5902  *  PressOffice@bls.gov   


                           PRODUCER PRICE INDEXES - March 2022


The Producer Price Index for final demand increased 0.6 percent in October, seasonally adjusted, 
the U.S. Bureau of Labor Statistics reported today. Final demand prices moved up 0.5 percent in 
September and 0.7 percent in August. (See table A.) On an unadjusted basis, the final demand 
index rose 8.6 percent for the 12 months ended in October. //PPI helen Test 08312022//

Over 60 percent of the October increase in the index for final demand can be traced to a 1.2-
percent rise in prices for final demand goods. The index for final demand services moved up 0.2 
percent, and prices for final demand construction advanced 6.6 percent.

Prices for final demand less foods, energy, and trade services moved up 0.4 percent in October 
after increasing 0.1 percent in September. For the 12 months ended in October, the index for 
final demand less foods, energy, and trade services rose 6.2 percent.

Final Demand

Final demand goods: The index for final demand goods moved up 1.2 percent in October following 
a 1.3-percent increase in September. In October, three-quarters of the advance can be attributed to a 
4.8-percent jump in prices for final demand energy. The index for final demand goods less foods and 
energy moved up 0.5 percent. Conversely, prices for final demand foods decreased 0.1 percent. 

Product detail: One-third of the October advance in the index for final demand goods can be traced 
to prices for gasoline, which rose 6.7 percent. The indexes for diesel fuel, fresh and dry vegetables, 
gas fuels, jet fuel, and plastic resins and materials also moved higher. In contrast, prices for beef and 
veal decreased 10.3 percent. The indexes for light motor trucks and for residential electric power also 
fell. (In accordance with usual practice, most new-model-year passenger cars and light motor trucks 
were introduced into the PPI in October. See Report on Quality Changes for 2022 Model Vehicles at 
www.bls.gov/web/ppi/ppimotveh.htm.)

Final demand services: Prices for final demand services moved up 0.2 percent in October, the tenth 
consecutive advance. Nearly two-thirds of the increase in October can be attributed to the index for 
final demand trade services, which rose 0.4 percent. (Trade indexes measure changes in margins 
received by wholesalers and retailers.) Prices for final demand transportation and warehousing 
services advanced 1.7 percent. Conversely, the index for final demand services less trade, 
transportation, and warehousing fell 0.1 percent. 

Product detail: Over 80 percent of the October increase in prices for final demand services can be 
traced to margins for automobiles and automobile parts retailing, which rose 8.9 percent. The indexes 
for apparel, footwear, and accessories retailing; truck transportation of freight; food and alcohol 
retailing; hospital outpatient care; and machinery and equipment parts and supplies wholesaling also 
moved up. In contrast, prices for securities brokerage, dealing, investment advice, and related 
services fell 6.6 percent. The indexes for fuels and lubricants retailing and for portfolio management 
also declined. (See table 4.)

Table A. Monthly and 12-month percent changes in selected final demand price indexes, seasonally adjusted
Month Total
final
demand
Final
demand
less
foods,
energy,
and
trade
Final demand goods Final demand services Change
in final
demand
from 12
months
ago
(unadj.)
Change
in final
demand
less
foods,
energy,
and
trade
from 12
mo. ago
(unadj.)
Total Foods Energy Less
foods
and
energy
Total Trade Transportation
and
warehousing
Other

2020

Oct.

0.6 0.2 0.5 2.1 0.5 0.0 0.7 1.5 1.1 0.1 0.6 0.9

Nov.

0.0 0.2 0.4 0.2 1.7 0.3 -0.2 -0.7 -0.5 0.2 0.8 1.0

Dec.

0.3 0.4 0.9 -1.4 4.9 0.5 0.0 -0.7 -0.2 0.4 0.8 1.3

2021

Jan.

1.2 1.0 1.6 1.6 5.1 0.8 1.0 0.8 0.7 1.2 1.6 1.9

Feb.

0.7 0.4 1.6 1.4 6.2 0.5 0.3 0.2 0.8 0.2 3.0 2.3

Mar.

0.8 0.6 1.5 0.6 5.0 0.8 0.3 0.2 1.4 0.4 4.1 3.1

Apr.

1.0 0.8 0.7 1.8 -1.2 1.0 1.2 2.3 3.6 0.4 6.5 4.8

May

0.9 0.5 1.5 2.7 1.2 1.1 0.6 1.7 0.2 0.2 7.0 5.3

June(1)

0.9 0.6 1.2 0.8 2.9 1.0 0.6 0.9 1.6 0.3 7.6 5.6

July(1)

0.7 0.9 0.5 -2.1 1.9 0.8 0.8 0.8 2.9 0.6 7.8 6.1

Aug.

0.7 0.3 1.0 2.9 0.4 0.6 0.7 1.5 2.8 0.1 8.3 6.3

Sept.

0.5 0.1 1.3 2.0 2.8 0.6 0.2 0.9 -4.0 0.2 8.6 5.9

Oct.

0.6 0.4 1.2 -0.1 4.8 0.5 0.2 0.4 1.7 -0.1 8.6 6.2

Footnotes
(1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for June 2021 have been revised to reflect the availability of late reports and corrections by respondents.

Intermediate Demand by Commodity Type

Within intermediate demand in October, prices for processed goods moved up 2.1 percent, the index 
for unprocessed goods increased 8.4 percent, and prices for services rose 0.2 percent. (See tables B 
and C.)

Processed goods for intermediate demand: The index for processed goods for intermediate 
demand advanced 2.1 percent in October, the largest rise since climbing 2.9 percent in May. About 
two-thirds of the October increase can be traced to prices for processed energy goods, which moved 
up 7.3 percent. The index for processed materials less foods and energy rose 1.1 percent. Conversely, 
prices for processed foods and feeds fell 0.9 percent. For the 12 months ended in October, the index 
for processed goods for intermediate demand advanced 25.4 percent, the largest 12-month increase 
since jumping 26.3 percent in January 1975.

Product detail: Nearly 30 percent of the October increase in the index for processed goods for 
intermediate demand can be attributed to a 14.2-percent rise in prices for diesel fuel. The indexes for 
utility natural gas, cold rolled steel sheet and strip, gasoline, jet fuel, and hot rolled steel sheet and 
strip also moved higher. In contrast, prices for beef and veal fell 10.3 percent. The indexes for 
primary basic organic chemicals and for commercial electric power also decreased. (See table 5.)

Unprocessed goods for intermediate demand: The index for unprocessed goods for intermediate 
demand rose 8.4 percent in October, the seventh consecutive increase. Leading the advance in 
October, prices for unprocessed energy materials jumped 23.3 percent. The index for unprocessed 
nonfood materials less energy moved up 1.1 percent. Conversely, prices for unprocessed foodstuffs 
and feedstuffs fell 3.8 percent. For the 12 months ended in October, the index for unprocessed goods 
for intermediate demand surged 56.6 percent.

Product detail: In October, nearly three-fourths of the rise in prices for unprocessed goods for 
intermediate demand can be traced to a 33.7-percent jump in the index for natural gas. Prices for 
crude petroleum, recyclable paper, raw cotton, coal, and fresh vegetables (except potatoes) also 
moved higher. In contrast, the index for corn decreased 7.6 percent. Prices for slaughter hogs and for 
hides and skins also declined.

Table B. Monthly and 12-month percent changes in selected intermediate demand price indexes for goods by commodity type, seasonally adjusted
Month Processed goods for intermediate demand Unprocessed goods for intermediate demand
Total Foods
and
feeds
Energy
goods
Less
foods
and
energy
Total,
change
from 12
months
ago
(unadj.)
Total Foodstuffs
and
feedstuffs
Energy
materials
Nonfood
materials
less
energy
Total,
change
from 12
months
ago
(unadj.)

2020

Oct.

0.9 1.7 3.1 0.3 -0.9 1.3 5.2 -3.2 0.3 -2.4

Nov.

0.9 2.0 3.4 0.2 -0.2 6.3 2.3 15.3 2.8 0.6

Dec.

1.4 -0.6 2.6 1.4 1.5 2.1 -3.6 6.5 5.3 1.3

2021

Jan.

1.8 0.9 1.9 1.8 3.4 5.3 2.7 5.4 8.6 7.9

Feb.

2.9 2.2 6.7 2.0 7.1 11.9 2.4 33.6 -0.6 29.2

Mar.

3.5 1.5 7.9 2.6 12.4 -4.2 1.6 -13.5 1.9 34.8

Apr.

1.9 2.8 -2.8 3.0 18.7 2.0 8.7 -4.8 2.2 59.2

May

2.9 3.0 3.8 2.7 22.3 7.2 5.0 8.3 8.9 57.8

June(1)

1.8 1.8 1.1 2.0 23.0 1.8 -0.8 5.6 0.5 52.9

July(1)

1.4 -2.0 3.1 1.3 22.9 2.2 -2.3 8.2 0.5 55.0

Aug.

1.0 2.1 -0.6 1.3 23.0 1.0 3.8 -0.2 0.0 50.1

Sept.

1.3 1.9 2.0 1.1 23.9 2.4 0.1 8.5 -3.5 45.9

Oct.

2.1 -0.9 7.3 1.1 25.4 8.4 -3.8 23.3 1.1 56.6

Footnotes
(1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for June 2021 have been revised to reflect the availability of late reports and corrections by respondents.

Services for intermediate demand: The index for services for intermediate demand moved up 0.2 
percent in October, the eleventh consecutive advance. Over three-fourths of the October increase can 
be attributed to a 0.7-percent rise in margins for trade services for intermediate demand. The index 
for transportation and warehousing services for intermediate demand climbed 0.8 percent. 
Conversely, prices for services less trade, transportation, and warehousing for intermediate demand 
edged down 0.1 percent. For the 12 months ended in October, the index for services for intermediate 
demand advanced 7.4 percent.

Product detail: Over half of the October rise in prices for services for intermediate demand can be 
traced to a 1.7-percent advance in margins for machinery and equipment parts and supplies 
wholesaling. The indexes for building materials, paint, and hardware wholesaling; staffing services; 
business loans (partial); truck transportation of freight; and paper and plastics products wholesaling 
also increased. In contrast, prices for securities brokerage, dealing, investment advice and related 
services fell 6.6 percent. The indexes for fuels and lubricants retailing and for services related to air 
transportation also declined.

Table C. Monthly and 12-month percent changes in selected intermediate demand price indexes for services by commodity type, seasonally adjusted
Month Services for intermediate demand
Total Trade Transportation
and
warehousing
Other Total, change
from 12 months
ago (unadj.)

2020

Oct.

0.7 1.0 1.3 0.5 1.7

Nov.

0.0 -0.2 -0.2 0.0 1.8

Dec.

0.7 2.4 -0.3 0.4 2.1

2021

Jan.

1.1 1.3 0.5 1.2 3.0

Feb.

0.3 0.1 1.2 0.1 3.6

Mar.

0.6 1.2 0.9 0.5 4.3

Apr.

1.3 2.7 2.3 0.6 7.3

May

0.6 2.1 0.9 0.1 8.4

June(1)

1.2 2.4 2.0 0.6 9.3

July(1)

0.4 -0.1 0.9 0.6 9.2

Aug.

0.3 1.1 1.1 -0.2 8.6

Sept.

0.5 0.6 0.8 0.2 8.0

Oct.

0.2 0.7 0.8 -0.1 7.4

Footnotes
(1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for June 2021 have been revised to reflect the availability of late reports and corrections by respondents.

Intermediate Demand by Production Flow

Stage 4 intermediate demand: The index for stage 4 intermediate demand increased 0.7 percent in 
October following a 0.4-percent rise in September. In October, prices for total goods inputs to stage 4 
intermediate demand advanced 1.2 percent, and the index for total services inputs inched up 0.1 
percent. (See table D.) Increases in the indexes for diesel fuel; machinery and equipment parts and 
supplies wholesaling; gasoline; ornamental and architectural metal work; building materials, paint, 
and hardware wholesaling; and utility natural gas outweighed decreasing prices for securities 
brokerage, dealing, investment advice, and related services; portfolio management; and beef and 
veal. (See table 6.) For the 12 months ended in October, prices for stage 4 intermediate demand 
jumped 11.8 percent.

Stage 3 intermediate demand: The index for stage 3 intermediate demand moved up 0.9 percent in 
October after rising 1.0 percent in September. In October, prices for total goods inputs to stage 3 
intermediate demand climbed 1.1 percent, and the index for total services inputs advanced 0.6 
percent. Rising prices for diesel fuel, jet fuel, cold rolled steel sheet and strip, hot rolled steel sheet 
and strip, plastic resins and materials, and staffing services outweighed declining indexes for 
slaughter hogs, primary basic organic chemicals, and services related to air transportation. For the 12 
months ended in October, prices for stage 3 intermediate demand jumped 20.2 percent.

Stage 2 intermediate demand: The index for stage 2 intermediate demand advanced 4.7 percent in 
October, the largest increase since rising 5.4 percent in February. In October, prices for total goods 
inputs to stage 2 intermediate demand jumped 9.8 percent, and the index for total services inputs 
inched up 0.1 percent. Rising prices for gas fuels, crude petroleum, business loans (partial), staffing 
services, paperboard, and recyclable paper outweighed falling indexes for primary basic organic 
chemicals, fuels and lubricants retailing, and oilseeds. For the 12 months ended in October, prices for 
stage 2 intermediate demand increased 27.8 percent, the largest advance since 12-month data were 
first calculated in November 2010.

Stage 1 intermediate demand: Prices for stage 1 intermediate demand moved up 1.0 percent in 
October following a 0.2-percent increase in September. In October, the index for total goods inputs 
to stage 1 intermediate demand rose 2.1 percent. Conversely, prices for total services inputs fell 0.2 
percent. Advances in the indexes for diesel fuel; utility natural gas; cold rolled steel sheet and strip; 
building materials, paint, and hardware wholesaling; plastic products; and ornamental and 
architectural metal work outweighed lower prices for securities brokerage, dealing, investment 
advice, and related services; primary basic organic chemicals; and internet advertising sales 
(excluding print publishers). For the 12 months ended in October, the index for stage 1 intermediate 
demand jumped 20.4 percent. 

Table D. Monthly percent changes in selected intermediate demand price indexes by production flow, seasonally adjusted
Month Stage 4 intermediate
demand
Stage 3 intermediate
demand
Stage 2 intermediate
demand
Stage 1 intermediate
demand
Total Goods
inputs
Services
inputs
Total Goods
inputs
Services
inputs
Total Goods
inputs
Services
inputs
Total Goods
inputs
Services
inputs

2020

Oct.

0.4 0.5 0.5 1.1 1.4 0.7 0.5 0.3 0.8 0.7 0.9 0.5

Nov.

0.2 0.4 0.0 0.7 1.3 0.2 1.8 5.3 -0.4 1.1 2.3 -0.2

Dec.

0.9 0.7 1.1 1.1 1.7 0.7 1.8 3.9 0.3 2.8 4.2 1.1

2021

Jan.

1.4 1.5 1.3 1.8 1.9 1.5 2.6 4.9 0.9 1.7 2.3 1.2

Feb.

0.8 1.5 0.3 2.2 4.2 0.5 5.4 12.4 0.2 1.6 3.1 0.2

Mar.

1.4 2.1 0.8 2.4 4.5 0.6 -1.5 -3.9 0.6 2.2 3.7 0.9

Apr.

1.5 1.7 1.2 3.0 4.9 1.3 0.4 -0.5 1.2 1.7 1.9 1.7

May

1.2 2.2 0.5 2.2 3.6 0.9 3.0 6.4 0.2 2.7 4.0 1.3

June(1)

1.3 1.5 1.1 1.6 1.7 1.4 2.1 3.1 1.3 1.5 1.6 1.5

July(1)

0.6 0.9 0.4 0.7 1.2 0.5 1.5 3.1 0.2 1.4 1.9 0.9

Aug.

0.8 0.9 0.7 1.0 1.9 0.0 0.4 0.5 0.3 0.9 1.3 0.5

Sept.

0.4 0.5 0.4 1.0 1.2 0.8 2.5 4.0 1.1 0.2 0.9 -0.5

Oct.

0.7 1.2 0.1 0.9 1.1 0.6 4.7 9.8 0.1 1.0 2.1 -0.2

Footnotes
(1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for June 2021 have been revised to reflect the availability of late reports and corrections by respondents.

________________
The Producer Price Index for November 2021 is scheduled to be released on Tuesday, December 14, 2021 
at 8:30 a.m. (ET).

                                               *****


                                      Resampling of Industries

Effective with the release of data for October 2021, the Producer Price Index (PPI) includes data 
for 11 resampled industries classified according to the 2017 North American Industry 
Classification System (NAICS). The Bureau of Labor Statistics periodically updates the sample 
of producers providing data for the PPI to reflect current conditions more accurately when the 
structure, membership, technology, or product mix of an industry shifts. The first results of this 
systematic process were published in July 1986. Subsequent efforts have been completed at 
regular intervals.  

For information on index additions, deletions, and recodes effective October 2021, see the 
current issue of the PPI Detailed Report online at www.bls.gov/ppi/detailed-report/ppi-detailed-
report-october-2021.pdf, or contact the PPI Section of Index Analysis and Public Information at 
ppi-info@bls.gov or (202) 691-7705.

NAICS
Code                    Industry
313210        Broadwoven fabric mills
314994        Rope, twine, tire cord, and tire fabric mills
325130        Synthetic dye and pigment manufacturing
325620        Toilet preparation manufacturing
332322        Sheet metal work manufacturing
333912        Air and gas compressor manufacturing
334511        Search, detection, and navigation instrument manufacturing
334516        Analytical laboratory instrument manufacturing
339112        Surgical and medical instrument manufacturing
424400        Grocery and related product merchant wholesalers
541810        Advertising agencies


                                               *****


        PPI to Publish Interim Index Values and Publish All Indexes to 3 Decimal Places
      
Effective with the release of November 2021 Producer Price Index (PPI) data, on December 14, 
2021, the Bureau of Labor Statistics will publish interim index values for all preliminary PPI 
data, starting with values for August through October 2021. Within PPI, interim indexes are 
defined as recalculated indexes for the 3 months between the initial publication and final revision 
of PPI data. With this modification, data within the 3-month interim revision period will be 
updated and published on a monthly basis. This replaces the current policy of only publishing 
revised data once, when the data have been finalized 4 months after original publication. PPI 
data will continue to be finalized 4 months after initial publication. 
      
The publication of interim index values will allow for greater transparency regarding PPI 
revisions, and will align PPI official index publication with Bureau of Economic Analysis use of 
PPI interim index data as an input to Gross Domestic Product calculations. 

In addition, effective with the November 2021 data release in December 2021, the PPI will begin 
publishing index values to 3 decimal places of precision, starting with finalized data for July 
2021. The publication of index levels to 3 decimal places will allow data users greater precision 
in percent change calculations. Published PPI percent change calculations will continue to be 
rounded to one decimal place. The change to 3 decimal precision for indexes will apply to all PPI 
data: Industry, Commodity, FD-ID, and Input indexes. 

This change to the level of published precision will impact only the presentation of index 
numbers. Index values will continue to be calculated from underlying price information in the 
same manner as in the past, and no systematic upward or downward effect on the data will be 
introduced. With the implementation of this change, official PPI data prior to July 2021 will not 
be revised to reflect greater precision.

As a result of the publication of interim index values and index data to 3 decimal places of 
precision, effective with the publication of November 2021 PPI data in December 2021, PPI will 
introduce redesigned publication tables for both the PPI News Release and the PPI Detailed 
Report. For further information on these publication table changes see: 
www.bls.gov/ppi/notices/2021/ppi-to-publish-interim-index-values-to-3-decimal-places.htm, or 
contact the PPI Section of Index Analysis and Public Information at ppi-info@bls.gov or (202) 
691-7705.  


                                               *****


             Recalculated Seasonal Adjustment Factors and Relative Importance Figures to be 
                                   Available on February 11, 2022

Each year with the release of PPI data for January, seasonal adjustment factors and relative 
importance figures are recalculated to reflect price movements from the just-completed calendar 
year. The following seasonal information will be available on February 11, 2022 (2 workdays 
prior to the release of PPI data for January 2022 on February 15, 2022):

*  Direct seasonal factors for PPI commodity indexes for the year 2022,
*  Recalculated seasonal factors for the last 5 years (2017-2021) for PPI commodity indexes, 
*  Recalculated seasonal factors for the last 5 years (2017-2021) for PPI Final Demand-
   Intermediate Demand indexes, 
*  Recalculated seasonal index data for the last 5 years (2017-2021) for Final Demand-
   Intermediate Demand and commodity indexes. This revision to seasonally adjusted indexes 
   for the previous 5 years will be posted to the PPI database on the BLS website. 

In addition, the following relative importance tables, which include values for December 2021, 
will be available on February 11, 2022:  

*  Final demand by individual commodities
*  Final demand by component series
*  Individual commodities of intermediate demand by commodity type
*  Component series of intermediate demand by commodity type
*  Individual commodities of intermediate demand by production flow
*  Component series of intermediate demand by production flow
*  Commodities, all levels
*  Wherever-provided services and construction

This information will be available on the PPI website at www.bls.gov/ppi or by contacting the 
PPI Section of Index Analysis and Public Information at ppi-info@bls.gov or (202) 691-7705.


                                               *****

Last Modified Date: August 31, 2022