Producer Price Index News Release summary - Bureau of ...

... OCTOBER 2021 The Producer Price Index for final demand increased 0.6 percent in October, seasonally adjusted, the U.S. Bureau of Labor ... 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Over60percentoftheOctoberincreaseintheindexforfinaldemandcanbetracedtoa1.2- percentriseinpricesforfinaldemandgoods.Theindexforfinaldemandservicesmovedup0.2 percent,andpricesforfinaldemandconstructionadvanced6.6percent. Pricesforfinaldemandlessfoods,energy,andtradeservicesmovedup0.4percentinOctober afterincreasing0.1percentinSeptember.Forthe12monthsendedinOctober,theindexfor finaldemandlessfoods,energy,andtradeservicesrose6.2percent. FinalDemand Finaldemandgoods:Theindexforfinaldemandgoodsmovedup1.2percentinOctoberfollowing a1.3-percentincreaseinSeptember.InOctober,three-quartersoftheadvancecanbeattributedtoa 4.8-percentjumpinpricesforfinaldemandenergy.Theindexforfinaldemandgoodslessfoodsand energymovedup0.5percent.Conversely,pricesforfinaldemandfoodsdecreased0.1percent. Productdetail:One-thirdoftheOctoberadvanceintheindexforfinaldemandgoodscanbetraced topricesforgasoline,whichrose6.7percent.Theindexesfordieselfuel,freshanddryvegetables, gasfuels,jetfuel,andplasticresinsandmaterialsalsomovedhigher.Incontrast,pricesforbeefand vealdecreased10.3percent.Theindexesforlightmotortrucksandforresidentialelectricpoweralso fell.(Inaccordancewithusualpractice,mostnew-model-yearpassengercarsandlightmotortrucks wereintroducedintothePPIinOctober.SeeReportonQualityChangesfor2022ModelVehiclesat www.bls.gov/web/ppi/ppimotveh.htm.) Finaldemandservices:Pricesforfinaldemandservicesmovedup0.2percentinOctober,thetenth consecutiveadvance.Nearlytwo-thirdsoftheincreaseinOctobercanbeattributedtotheindexfor finaldemandtradeservices,whichrose0.4percent.(Tradeindexesmeasurechangesinmargins receivedbywholesalersandretailers.)Pricesforfinaldemandtransportationandwarehousing servicesadvanced1.7percent.Conversely,theindexforfinaldemandserviceslesstrade, transportation,andwarehousingfell0.1percent. Productdetail:Over80percentoftheOctoberincreaseinpricesforfinaldemandservicescanbe tracedtomarginsforautomobilesandautomobilepartsretailing,whichrose8.9percent.Theindexes forapparel,footwear,andaccessoriesretailing;trucktransportationoffreight;foodandalcohol retailing;hospitaloutpatientcare;andmachineryandequipmentpartsandsupplieswholesalingalso movedup.Incontrast,pricesforsecuritiesbrokerage,dealing,investmentadvice,andrelated servicesfell6.6percent.Theindexesforfuelsandlubricantsretailingandforportfoliomanagement alsodeclined.(Seetable4.) TableA.Monthlyand12-monthpercentchangesinselectedfinaldemandpriceindexes,seasonallyadjusted Month Totalfinaldemand Finaldemandlessfoods,energy,andtrade Finaldemandgoods Finaldemandservices Changeinfinaldemandfrom12monthsago(unadj.) Changeinfinaldemandlessfoods,energy,andtradefrom12mo.ago(unadj.) Total Foods Energy Lessfoodsandenergy Total Trade Transportationandwarehousing 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)SomeofthefiguresshownaboveandelsewhereinthisreleasemaydifferfromthosepreviouslyreportedbecausedataforJune2021havebeenrevisedtoreflecttheavailabilityoflatereportsandcorrectionsbyrespondents. IntermediateDemandbyCommodityType WithinintermediatedemandinOctober,pricesforprocessedgoodsmovedup2.1percent,theindex forunprocessedgoodsincreased8.4percent,andpricesforservicesrose0.2percent.(SeetablesB andC.) Processedgoodsforintermediatedemand:Theindexforprocessedgoodsforintermediate demandadvanced2.1percentinOctober,thelargestrisesinceclimbing2.9percentinMay.About two-thirdsoftheOctoberincreasecanbetracedtopricesforprocessedenergygoods,whichmoved up7.3percent.Theindexforprocessedmaterialslessfoodsandenergyrose1.1percent.Conversely, pricesforprocessedfoodsandfeedsfell0.9percent.Forthe12monthsendedinOctober,theindex forprocessedgoodsforintermediatedemandadvanced25.4percent,thelargest12-monthincrease sincejumping26.3percentinJanuary1975. Productdetail:Nearly30percentoftheOctoberincreaseintheindexforprocessedgoodsfor intermediatedemandcanbeattributedtoa14.2-percentriseinpricesfordieselfuel.Theindexesfor utilitynaturalgas,coldrolledsteelsheetandstrip,gasoline,jetfuel,andhotrolledsteelsheetand stripalsomovedhigher.Incontrast,pricesforbeefandvealfell10.3percent.Theindexesfor primarybasicorganicchemicalsandforcommercialelectricpoweralsodecreased.(Seetable5.) Unprocessedgoodsforintermediatedemand:Theindexforunprocessedgoodsforintermediate demandrose8.4percentinOctober,theseventhconsecutiveincrease.Leadingtheadvancein October,pricesforunprocessedenergymaterialsjumped23.3percent.Theindexforunprocessed nonfoodmaterialslessenergymovedup1.1percent.Conversely,pricesforunprocessedfoodstuffs andfeedstuffsfell3.8percent.Forthe12monthsendedinOctober,theindexforunprocessedgoods forintermediatedemandsurged56.6percent. Productdetail:InOctober,nearlythree-fourthsoftheriseinpricesforunprocessedgoodsfor intermediatedemandcanbetracedtoa33.7-percentjumpintheindexfornaturalgas.Pricesfor crudepetroleum,recyclablepaper,rawcotton,coal,andfreshvegetables(exceptpotatoes)also movedhigher.Incontrast,theindexforcorndecreased7.6percent.Pricesforslaughterhogsandfor hidesandskinsalsodeclined. TableB.Monthlyand12-monthpercentchangesinselectedintermediatedemandpriceindexesforgoodsbycommoditytype,seasonallyadjusted Month Processedgoodsforintermediatedemand Unprocessedgoodsforintermediatedemand Total Foodsandfeeds Energygoods Lessfoodsandenergy Total,changefrom12monthsago(unadj.) Total Foodstuffsandfeedstuffs Energymaterials Nonfoodmaterialslessenergy Total,changefrom12monthsago(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)SomeofthefiguresshownaboveandelsewhereinthisreleasemaydifferfromthosepreviouslyreportedbecausedataforJune2021havebeenrevisedtoreflecttheavailabilityoflatereportsandcorrectionsbyrespondents. Servicesforintermediatedemand:Theindexforservicesforintermediatedemandmovedup0.2 percentinOctober,theeleventhconsecutiveadvance.Overthree-fourthsoftheOctoberincreasecan beattributedtoa0.7-percentriseinmarginsfortradeservicesforintermediatedemand.Theindex fortransportationandwarehousingservicesforintermediatedemandclimbed0.8percent. Conversely,pricesforserviceslesstrade,transportation,andwarehousingforintermediatedemand edgeddown0.1percent.Forthe12monthsendedinOctober,theindexforservicesforintermediate demandadvanced7.4percent. Productdetail:OverhalfoftheOctoberriseinpricesforservicesforintermediatedemandcanbe tracedtoa1.7-percentadvanceinmarginsformachineryandequipmentpartsandsupplies wholesaling.Theindexesforbuildingmaterials,paint,andhardwarewholesaling;staffingservices; businessloans(partial);trucktransportationoffreight;andpaperandplasticsproductswholesaling alsoincreased.Incontrast,pricesforsecuritiesbrokerage,dealing,investmentadviceandrelated servicesfell6.6percent.Theindexesforfuelsandlubricantsretailingandforservicesrelatedtoair transportationalsodeclined. TableC.Monthlyand12-monthpercentchangesinselectedintermediatedemandpriceindexesforservicesbycommoditytype,seasonallyadjusted Month Servicesforintermediatedemand Total Trade Transportationandwarehousing Other Total,changefrom12monthsago(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)SomeofthefiguresshownaboveandelsewhereinthisreleasemaydifferfromthosepreviouslyreportedbecausedataforJune2021havebeenrevisedtoreflecttheavailabilityoflatereportsandcorrectionsbyrespondents. IntermediateDemandbyProductionFlow Stage4intermediatedemand:Theindexforstage4intermediatedemandincreased0.7percentin Octoberfollowinga0.4-percentriseinSeptember.InOctober,pricesfortotalgoodsinputstostage4 intermediatedemandadvanced1.2percent,andtheindexfortotalservicesinputsinchedup0.1 percent.(SeetableD.)Increasesintheindexesfordieselfuel;machineryandequipmentpartsand supplieswholesaling;gasoline;ornamentalandarchitecturalmetalwork;buildingmaterials,paint, andhardwarewholesaling;andutilitynaturalgasoutweigheddecreasingpricesforsecurities brokerage,dealing,investmentadvice,andrelatedservices;portfoliomanagement;andbeefand veal.(Seetable6.)Forthe12monthsendedinOctober,pricesforstage4intermediatedemand jumped11.8percent. Stage3intermediatedemand:Theindexforstage3intermediatedemandmovedup0.9percentin Octoberafterrising1.0percentinSeptember.InOctober,pricesfortotalgoodsinputstostage3 intermediatedemandclimbed1.1percent,andtheindexfortotalservicesinputsadvanced0.6 percent.Risingpricesfordieselfuel,jetfuel,coldrolledsteelsheetandstrip,hotrolledsteelsheet andstrip,plasticresinsandmaterials,andstaffingservicesoutweigheddecliningindexesfor slaughterhogs,primarybasicorganicchemicals,andservicesrelatedtoairtransportation.Forthe12 monthsendedinOctober,pricesforstage3intermediatedemandjumped20.2percent. Stage2intermediatedemand:Theindexforstage2intermediatedemandadvanced4.7percentin October,thelargestincreasesincerising5.4percentinFebruary.InOctober,pricesfortotalgoods inputstostage2intermediatedemandjumped9.8percent,andtheindexfortotalservicesinputs inchedup0.1percent.Risingpricesforgasfuels,crudepetroleum,businessloans(partial),staffing services,paperboard,andrecyclablepaperoutweighedfallingindexesforprimarybasicorganic chemicals,fuelsandlubricantsretailing,andoilseeds.Forthe12monthsendedinOctober,pricesfor stage2intermediatedemandincreased27.8percent,thelargestadvancesince12-monthdatawere firstcalculatedinNovember2010. Stage1intermediatedemand:Pricesforstage1intermediatedemandmovedup1.0percentin Octoberfollowinga0.2-percentincreaseinSeptember.InOctober,theindexfortotalgoodsinputs tostage1intermediatedemandrose2.1percent.Conversely,pricesfortotalservicesinputsfell0.2 percent.Advancesintheindexesfordieselfuel;utilitynaturalgas;coldrolledsteelsheetandstrip; buildingmaterials,paint,andhardwarewholesaling;plasticproducts;andornamentaland architecturalmetalworkoutweighedlowerpricesforsecuritiesbrokerage,dealing,investment advice,andrelatedservices;primarybasicorganicchemicals;andinternetadvertisingsales (excludingprintpublishers).Forthe12monthsendedinOctober,theindexforstage1intermediate demandjumped20.4percent. TableD.Monthlypercentchangesinselectedintermediatedemandpriceindexesbyproductionflow,seasonallyadjusted Month Stage4intermediatedemand Stage3intermediatedemand Stage2intermediatedemand Stage1intermediatedemand Total Goodsinputs Servicesinputs Total Goodsinputs Servicesinputs Total Goodsinputs Servicesinputs Total Goodsinputs Servicesinputs 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)SomeofthefiguresshownaboveandelsewhereinthisreleasemaydifferfromthosepreviouslyreportedbecausedataforJune2021havebeenrevisedtoreflecttheavailabilityoflatereportsandcorrectionsbyrespondents. ________________ TheProducerPriceIndexforNovember2021isscheduledtobereleasedonTuesday,December14,2021 at8:30a.m.(ET). ***** ResamplingofIndustries EffectivewiththereleaseofdataforOctober2021,theProducerPriceIndex(PPI)includesdata for11resampledindustriesclassifiedaccordingtothe2017NorthAmericanIndustry ClassificationSystem(NAICS).TheBureauofLaborStatisticsperiodicallyupdatesthesample ofproducersprovidingdataforthePPItoreflectcurrentconditionsmoreaccuratelywhenthe structure,membership,technology,orproductmixofanindustryshifts.Thefirstresultsofthis systematicprocesswerepublishedinJuly1986.Subsequenteffortshavebeencompletedat regularintervals. Forinformationonindexadditions,deletions,andrecodeseffectiveOctober2021,seethe currentissueofthePPIDetailedReportonlineatwww.bls.gov/ppi/detailed-report/ppi-detailed- report-october-2021.pdf,orcontactthePPISectionofIndexAnalysisandPublicInformationat [email protected](202)691-7705. NAICS CodeIndustry 313210Broadwovenfabricmills 314994Rope,twine,tirecord,andtirefabricmills 325130Syntheticdyeandpigmentmanufacturing 325620Toiletpreparationmanufacturing 332322Sheetmetalworkmanufacturing 333912Airandgascompressormanufacturing 334511Search,detection,andnavigationinstrumentmanufacturing 334516Analyticallaboratoryinstrumentmanufacturing 339112Surgicalandmedicalinstrumentmanufacturing 424400Groceryandrelatedproductmerchantwholesalers 541810Advertisingagencies ***** PPItoPublishInterimIndexValuesandPublishAllIndexesto3DecimalPlaces EffectivewiththereleaseofNovember2021ProducerPriceIndex(PPI)data,onDecember14, 2021,theBureauofLaborStatisticswillpublishinterimindexvaluesforallpreliminaryPPI data,startingwithvaluesforAugustthroughOctober2021.WithinPPI,interimindexesare definedasrecalculatedindexesforthe3monthsbetweentheinitialpublicationandfinalrevision ofPPIdata.Withthismodification,datawithinthe3-monthinterimrevisionperiodwillbe updatedandpublishedonamonthlybasis.Thisreplacesthecurrentpolicyofonlypublishing reviseddataonce,whenthedatahavebeenfinalized4monthsafteroriginalpublication.PPI datawillcontinuetobefinalized4monthsafterinitialpublication. ThepublicationofinterimindexvalueswillallowforgreatertransparencyregardingPPI revisions,andwillalignPPIofficialindexpublicationwithBureauofEconomicAnalysisuseof PPIinterimindexdataasaninputtoGrossDomesticProductcalculations. Inaddition,effectivewiththeNovember2021datareleaseinDecember2021,thePPIwillbegin publishingindexvaluesto3decimalplacesofprecision,startingwithfinalizeddataforJuly 2021.Thepublicationofindexlevelsto3decimalplaceswillallowdatausersgreaterprecision inpercentchangecalculations.PublishedPPIpercentchangecalculationswillcontinuetobe roundedtoonedecimalplace.Thechangeto3decimalprecisionforindexeswillapplytoallPPI data:Industry,Commodity,FD-ID,andInputindexes. Thischangetothelevelofpublishedprecisionwillimpactonlythepresentationofindex numbers.Indexvalueswillcontinuetobecalculatedfromunderlyingpriceinformationinthe samemannerasinthepast,andnosystematicupwardordownwardeffectonthedatawillbe introduced.Withtheimplementationofthischange,officialPPIdatapriortoJuly2021willnot berevisedtoreflectgreaterprecision. Asaresultofthepublicationofinterimindexvaluesandindexdatato3decimalplacesof precision,effectivewiththepublicationofNovember2021PPIdatainDecember2021,PPIwill introduceredesignedpublicationtablesforboththePPINewsReleaseandthePPIDetailed Report.Forfurtherinformationonthesepublicationtablechangessee: www.bls.gov/ppi/notices/2021/ppi-to-publish-interim-index-values-to-3-decimal-places.htm,or contactthePPISectionofIndexAnalysisandPublicInformationatppi-info@bls.govor(202) 691-7705. ***** RecalculatedSeasonalAdjustmentFactorsandRelativeImportanceFigurestobe AvailableonFebruary11,2022 EachyearwiththereleaseofPPIdataforJanuary,seasonaladjustmentfactorsandrelative importancefiguresarerecalculatedtoreflectpricemovementsfromthejust-completedcalendar year.ThefollowingseasonalinformationwillbeavailableonFebruary11,2022(2workdays priortothereleaseofPPIdataforJanuary2022onFebruary15,2022): *DirectseasonalfactorsforPPIcommodityindexesfortheyear2022, *Recalculatedseasonalfactorsforthelast5years(2017-2021)forPPIcommodityindexes, *Recalculatedseasonalfactorsforthelast5years(2017-2021)forPPIFinalDemand- IntermediateDemandindexes, *Recalculatedseasonalindexdataforthelast5years(2017-2021)forFinalDemand- IntermediateDemandandcommodityindexes.Thisrevisiontoseasonallyadjustedindexes fortheprevious5yearswillbepostedtothePPIdatabaseontheBLSwebsite. Inaddition,thefollowingrelativeimportancetables,whichincludevaluesforDecember2021, willbeavailableonFebruary11,2022: *Finaldemandbyindividualcommodities *Finaldemandbycomponentseries *Individualcommoditiesofintermediatedemandbycommoditytype *Componentseriesofintermediatedemandbycommoditytype *Individualcommoditiesofintermediatedemandbyproductionflow *Componentseriesofintermediatedemandbyproductionflow *Commodities,alllevels *Wherever-providedservicesandconstruction ThisinformationwillbeavailableonthePPIwebsiteatwww.bls.gov/ppiorbycontactingthe PPISectionofIndexAnalysisandPublicInformationatppi-info@bls.govor(202)691-7705. ***** Technicalnotes Table1.Producerpriceindexesandpercentchangesforfinaldemand Table2.Producerpriceindexesandpercentchangesforintermediatedemandbycommoditytype Table3.Producerpriceindexesandpercentchangesforintermediatedemandbyproductionflow Table4.Producerpriceindexesandpercentchangesforselectedcommoditygroupingsbyfinaldemandcategory Table5.Producerpriceindexesandpercentchangesforselectedcommoditygroupingsofintermediatedemandbycommoditytypecategory Table6.Producerpriceindexesandpercentchangesforselectedcommoditygroupingsofintermediatedemandbyproductionflowcategory Table7.Producerpriceindexesforselectedfinaldemandandintermediatedemandcategories,seasonallyadjusted Table8.Producerpriceindexesforselectedcommoditygroupings,notseasonallyadjusted HTMLversionoftheentirenewsrelease ThePDFversionofthenewsrelease Newsreleasecharts SupplementalFilesTableofContents TableofContents LastModifiedDate:November09,2021   Recommendthispageusing: Facebook Twitter LinkedIn