U.S. Producer Prices Rise 1.3% in September With Goods Up 2.6%

The U.S. Bureau of Labor Statistics reported on Thursday, October 15, 2026, that the Producer Price Index for final demand increased 1.3 percent in September 2026 on a seasonally adjusted basis, the largest monthly advance since a 1.7-percent rise in March 2022. Final demand prices had moved up 0.5 percent in August and 0.2 percent in July. 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 a 6.4-percent rise in December 2022.

The figures appear in the bureau’s Producer Price Index news release for September 2026 (USDL 26-1576), which was embargoed until 8:30 a.m. Eastern time on Thursday. 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 after increasing 0.3 percent in August; for the 12 months ended in September, that measure rose 5.0 percent.

Final Demand Goods and Services

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

Half of the September increase in final demand goods can be traced to gasoline prices, which jumped 20.3 percent, according to the release. 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, while the indexes for thermoplastic resins and materials and for commercial electric power declined.

Prices for final demand services moved up 0.8 percent in September, the largest rise since a matching 0.8-percent advance in April 2026. Nearly half of the broad-based increase can be attributed to a 1.4-percent rise in margins for final demand trade services. The index for final demand transportation and warehousing services advanced 3.4 percent, and final demand services less trade, transportation, and warehousing rose 0.3 percent.

Over 20 percent of the September increase in 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, and the indexes for securities brokerage, dealing, and investment advice and for chemicals and allied products wholesaling also fell.

Intermediate Demand

Within intermediate demand, BLS reported that September price increases were broad-based. The index for processed goods for intermediate demand moved up 2.5 percent, the largest rise since a 2.8-percent jump in May 2026. Over 80 percent of the advance is attributable to a 10.2-percent increase in prices for processed energy goods, while the indexes for processed materials less foods and energy and for processed foods and feeds rose 0.5 percent and 0.4 percent, respectively. For the 12 months ended in September, processed goods prices rose 14.1 percent, the largest 12-month increase since a 14.3-percent advance in August 2022. Nearly half of the monthly rise can be traced to a 21.0-percent increase in diesel fuel prices; gasoline, jet fuel, lubricating oil base stocks, prepared animal feeds, and fabricated structural metal products also moved higher, while commercial electric power declined 0.6 percent.

Prices for unprocessed goods for intermediate demand moved up 8.4 percent, the largest increase since a 9.2-percent rise in February 2022. Over 80 percent of the advance is attributable to the index for unprocessed energy materials, which jumped 22.2 percent. For the 12 months ended in September, the index rose 21.5 percent, the largest 12-month increase since a 29.2-percent advance in September 2022. Crude petroleum led the September increase with a 28.3-percent jump. Prices for grains; hay, hayseeds, and oilseeds; natural gas; fresh and dry vegetables; and nonferrous metal ores also rose, while the index for raw milk decreased 12.3 percent and prices for slaughter chickens and aluminum base scrap declined.

The index for services for intermediate demand rose 0.9 percent in September, the largest increase since a 0.9-percent advance in April 2026. Over 40 percent of the rise can be traced to margins for trade services for intermediate demand, which jumped 2.0 percent. For the 12 months ended in September, the index rose 6.3 percent, the largest 12-month advance since a 6.3-percent increase in January 2023. Nearly a quarter of the monthly rise can be traced to a 6.7-percent increase in margins for food and alcohol wholesaling, while prices for securities brokerage, dealing, and investment advice fell 2.9 percent.

By production flow, prices for stage 4 intermediate demand rose 1.1 percent in September, the largest advance since a 1.1-percent increase in May 2026, with total goods inputs up 1.2 percent and total services inputs up 0.9 percent; the 12-month increase of 7.9 percent was the largest since a 7.9-percent rise in October 2022. Stage 3 intermediate demand increased 1.1 percent, the largest advance since a 1.7-percent rise in May 2026, and its 12-month advance of 7.7 percent was the largest since an 8.1-percent rise in November 2022. Prices for stage 2 intermediate demand increased 3.9 percent, the largest rise since a 4.2-percent advance in February 2022, as total goods inputs jumped 8.9 percent; the 12-month rise of 13.9 percent was the largest since a 16.1-percent increase in September 2022. Stage 1 intermediate demand increased 2.2 percent, the largest advance since a 2.6-percent rise in May 2026, with goods inputs up 3.1 percent and services inputs up 1.1 percent; its 12-month advance of 13.5 percent was the largest since a 15.6-percent rise in June 2022.

The PPI measures the average change over time in prices received by producers for domestically produced goods, services, and construction, and BLS organizes more than 44,000 price quotations per month into final demand-intermediate demand indexes, commodity indexes, and industry net-output indexes. As of December 2025, final demand goods represented about 29.1 percent of overall final demand, final demand services roughly 68.3 percent, and final demand construction about 2.6 percent.

BLS noted that data for May through August 2026 were revised to reflect the availability of late reports and corrections by respondents, and that all PPIs are subject to monthly revisions up to four months after original publication. The Producer Price Index news release for October 2026 is scheduled to be published on Friday, November 13, 2026, at 8:30 a.m. Eastern time.