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 2023
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 Test for training Kamal 05182023//
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 |
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 |
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 |
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 |
1.8 |
1.8 |
1.1 |
2.0 |
23.0 |
1.8 |
-0.8 |
5.6 |
0.5 |
52.9 |
July |
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 |
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 |
1.2 |
2.4 |
2.0 |
0.6 |
9.3 |
July |
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 |
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 |
1.3 |
1.5 |
1.1 |
1.6 |
1.7 |
1.4 |
2.1 |
3.1 |
1.3 |
1.5 |
1.6 |
1.5 |
July |
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 |
________________
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.
*****
United States Department of Labor
