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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 22-1836
8:30 a.m. (ET) Wednesday, September 14, 2022

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


                              PRODUCER PRICE INDEXES - AUGUST 2022


The Producer Price Index for final demand fell 0.1 percent in August, seasonally adjusted, the 
U.S. Bureau of Labor Statistics reported today. Final demand prices decreased 0.4 percent in July 
and advanced 1.0 percent in June. (See table A.) On an unadjusted basis, the index for final 
demand moved up 8.7 percent for the 12 months ended in August. 

In August, the decrease in the index for final demand is attributable to a 1.2-percent decline in 
prices for final demand goods. In contrast, the index for final demand services advanced 0.4 
percent.

Prices for final demand less foods, energy, and trade services moved up 0.2 percent in August 
following a 0.1-percent rise in July. For the 12 months ended in August, the index for final 
demand less foods, energy, and trade services increased 5.6 percent.

Final Demand

Final demand goods: The index for final demand goods fell 1.2 percent in August after declining 
1.7 percent in July. The August decrease can be traced to a 6.0-percent drop in prices for final 
demand energy. Conversely, the index for final demand goods less foods and energy rose 0.2 percent, 
while prices for final demand foods were unchanged. 

Product detail: In August, over three-quarters of the decrease in prices for final demand goods is 
attributable to the index for gasoline, which fell 12.7 percent. Prices for diesel fuel, jet fuel, chicken 
eggs, primary basic organic chemicals, and home heating oil also declined. In contrast, the index for 
construction machinery and equipment increased 2.6 percent. Prices for beverages and beverage 
materials and for electric power also rose. (See table 2.)

Final demand services: The index for final demand services moved up 0.4 percent in August, the 
fourth consecutive rise. Sixty percent of the August advance can be traced to a 0.8-percent increase 
in margins for final demand trade services. (Trade indexes measure changes in margins received by 
wholesalers and retailers.) Prices for final demand services less trade, transportation, and 
warehousing also moved higher, rising 0.3 percent. Conversely, the index for final demand 
transportation and warehousing services decreased 0.2 percent. 

Product detail: Forty percent of the increase in prices for final demand services can be attributed to 
margins for fuels and lubricants retailing, which rose 14.2 percent. The indexes for securities 
brokerage, dealing, investment advice, and related services; loan services (partial); transportation of 
passengers (partial); portfolio management; and chemicals and allied products wholesaling also 
moved higher. In contrast, prices for truck transportation of freight decreased 1.9 percent. The 
indexes for guestroom rental and for food and alcohol retailing also fell.

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

2021

Aug.

0.9 0.4 1.0 2.1 1.3 0.6 0.8 2.1 0.8 0.2 8.7 6.2

Sept.

0.5 0.3 1.2 2.1 2.5 0.6 0.1 0.0 -1.0 0.3 8.8 6.1

Oct.

0.7 0.4 1.3 -0.1 5.0 0.7 0.2 0.5 1.1 -0.1 8.9 6.2

Nov.

1.0 0.8 0.9 1.3 0.9 0.8 1.0 1.3 2.8 0.6 9.9 7.0

Dec.

0.6 0.4 -0.1 -0.2 -1.4 0.4 0.9 1.9 1.6 0.3 10.0 7.0

2022

Jan.

1.2 0.8 1.6 1.8 4.1 0.8 0.9 1.3 0.0 0.8 10.1 6.9

Feb.

1.1 0.2 2.2 1.9 7.2 0.8 0.5 1.7 2.0 -0.3 10.4 6.7

Mar.

1.7 1.0 2.4 2.4 6.6 1.1 1.3 2.3 5.6 0.4 11.7 7.1

Apr.(1)

0.5 0.4 1.3 1.5 1.5 1.1 0.0 0.1 2.1 -0.2 11.2 6.8

May(1)

0.8 0.5 1.5 0.4 4.8 0.7 0.5 0.7 2.5 0.1 11.1 6.7

June(1)

1.0 0.3 2.2 -0.1 8.9 0.5 0.3 0.6 0.9 0.2 11.3 6.4

July(1)

-0.4 0.1 -1.7 1.3 -9.0 0.2 0.2 0.9 -0.8 0.0 9.8 5.8

Aug.

-0.1 0.2 -1.2 0.0 -6.0 0.2 0.4 0.8 -0.2 0.3 8.7 5.6

Footnotes
(1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for April 2022 through July 2022 have been revised to reflect the availability of late reports and corrections by respondents.

Intermediate Demand by Commodity Type

Within intermediate demand in August, prices for processed goods decreased 1.7 percent, the index 
for unprocessed goods rose 5.7 percent, and prices for services advanced 1.0 percent. (See tables B 
and C.)

Processed goods for intermediate demand: The index for processed goods for intermediate 
demand fell 1.7 percent in August after decreasing 2.2 percent in July. About two-thirds of the 
August decline is attributable to a 5.2-percent drop in prices for processed energy goods. The index 
for processed materials less foods and energy moved down 0.8 percent. Conversely, prices for 
processed foods and feeds inched up 0.1 percent. For the 12 months ended in August, the index for 
processed goods for intermediate demand increased 14.1 percent.

Product detail: Over 40 percent of the August decline in the index for processed goods for 
intermediate demand can be traced to an 11.4-percent decrease in diesel fuel prices. The indexes for 
primary basic organic chemicals; gasoline; steel mill products; jet fuel; and natural, processed, and 
imitation cheese also moved lower. In contrast, prices for prepared animal feeds advanced 1.2 
percent. The indexes for natural gas to electric utilities and for paper boxes and containers also rose.

Unprocessed goods for intermediate demand: The index for unprocessed goods for intermediate 
demand moved up 5.7 percent in August, the largest advance since increasing 9.8 percent in 
February. Leading the August rise, prices for unprocessed energy materials jumped 13.5 percent. The 
index for unprocessed nonfood materials less energy advanced 1.0 percent. Conversely, prices for 
unprocessed foodstuffs and feedstuffs declined 1.9 percent. For the 12 months ended in August, the 
index for unprocessed goods for intermediate demand rose 36.1 percent.

Product detail: Leading the August increase in prices for unprocessed goods for intermediate 
demand, the natural gas index surged 35.3 percent. Prices for livestock, corn, oilseeds, nonferrous 
metal ores, and nonferrous scrap also moved higher. In contrast, the index for raw milk fell 8.8 
percent. Prices for crude petroleum and for iron and steel scrap also decreased.

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.)

2021

Aug.

1.0 1.5 0.0 1.1 23.0 1.4 3.0 0.2 1.4 52.5

Sept.

1.2 1.5 2.1 0.9 23.8 2.8 0.8 8.0 -1.8 48.5

Oct.

2.4 -0.4 6.7 1.6 25.7 6.0 -2.2 17.7 -1.5 55.5

Nov.

1.5 0.1 2.5 1.4 26.6 2.3 1.3 2.3 3.4 49.6

Dec.

-0.1 0.1 -2.7 0.6 24.4 -4.8 3.8 -12.1 -1.8 40.0

2022

Jan.

2.2 2.6 4.7 1.5 24.8 3.1 2.9 4.2 1.1 36.4

Feb.

1.5 2.1 5.8 0.4 23.3 9.8 5.4 18.2 1.5 33.5

Mar.

2.3 2.1 7.3 0.9 22.1 2.9 7.7 -4.3 9.7 43.3

Apr.(1)

2.0 3.2 4.4 1.2 22.0 5.5 4.2 9.3 1.3 50.1

May(1)

2.3 1.1 4.5 1.8 21.6 5.4 0.2 14.6 -4.2 46.4

June(1)

2.0 0.0 8.7 0.1 21.9 4.8 -0.4 11.2 -2.3 50.2

July(1)

-2.2 0.2 -8.6 -0.2 17.4 -10.7 -0.8 -17.8 -7.0 30.4

Aug.

-1.7 0.1 -5.2 -0.8 14.1 5.7 -1.9 13.5 1.0 36.1

Footnotes
(1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for April 2022 through July 2022 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 rose 1.0 percent 
in August, the largest advance since moving up 1.3 percent in March. Leading the August increase, 
prices for services less trade, transportation, and warehousing for intermediate demand climbed 1.3 
percent. Margins for trade services for intermediate demand moved up 0.6 percent. Conversely, the 
index for transportation and warehousing services for intermediate demand declined 0.1 percent. For 
the 12 months ended in August, prices for services for intermediate demand advanced 6.3 percent.

Product detail: Thirty percent of the August increase in the index for services for intermediate 
demand is attributable to a 5.5-percent rise in prices for nonresidential real estate rents. The indexes 
for securities brokerage, dealing, investment advice, and related services; loan services (partial); fuels 
and lubricants retailing; machinery and equipment parts and supplies wholesaling; and arrangement 
of freight and cargo transportation also moved higher. In contrast, prices for warehousing, storage, 
and related services fell 5.3 percent. The indexes for television advertising time sales and for metals, 
minerals, and ores wholesaling also decreased. 

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.)

2021

Aug.

0.4 1.9 0.8 -0.2 9.0

Sept.

0.3 -1.2 2.5 0.4 8.2

Oct.

0.0 0.6 0.5 -0.3 7.4

Nov.

0.6 -0.6 1.0 0.9 8.1

Dec.

0.8 1.5 1.6 0.5 8.3

2022

Jan.

0.8 1.4 0.6 0.6 7.9

Feb.

0.2 1.4 0.4 -0.2 7.8

Mar.

1.3 4.4 2.1 0.0 8.4

Apr.(1)

0.9 1.0 1.7 0.6 8.0

May(1)

0.5 0.6 0.6 0.4 7.8

June(1)

-0.4 -1.1 0.1 -0.3 6.2

July(1)

0.2 -0.1 1.0 0.2 5.8

Aug.

1.0 0.6 -0.1 1.3 6.3

Footnotes
(1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for April 2022 through July 2022 have been revised to reflect the availability of late reports and corrections by respondents.

Intermediate Demand by Production Flow

Stage 4 intermediate demand: Prices for stage 4 intermediate demand rose 0.5 percent in August 
following a 0.4-percent decline in July. In August, the index for total services inputs to stage 4 
intermediate demand advanced 1.2 percent. Conversely, prices for total goods inputs declined 0.2 
percent. (See table D.) Increases in the indexes for nonresidential real estate rents; securities 
brokerage, dealing, investment advice, and related services; loan services (partial); machinery and 
equipment parts and supplies wholesaling; portfolio management; and electric power outweighed 
falling prices for gasoline; diesel fuel; and warehousing, storage, and related services. For the 12 
months ended in August, the index for stage 4 intermediate demand rose 8.7 percent.

Stage 3 intermediate demand: Prices for stage 3 intermediate demand moved down 1.8 percent in 
August, the largest decrease since falling 5.4 percent in April 2020. In August, the index for total 
goods inputs to stage 3 intermediate demand declined 3.6 percent. In contrast, prices for total 
services inputs rose 0.3 percent. Declines in the indexes for diesel fuel, primary basic organic 
chemicals, raw milk, jet fuel, steel mill products, and television advertising time sales outweighed 
increasing prices for loan services (partial), livestock, and corn. For the 12 months ended in August, 
the index for stage 3 intermediate demand advanced 12.1 percent. 

Stage 2 intermediate demand: Prices for stage 2 intermediate demand moved up 3.7 percent in 
August, the largest increase since rising 4.3 percent in February. In August, the index for total goods 
inputs to stage 2 intermediate demand climbed 6.0 percent, and prices for total services inputs 
advanced 1.3 percent. Increases in the indexes for natural gas; loan services (partial); fuels and 
lubricants retailing; oilseeds; securities brokerage, dealing, investment advice, and related services; 
and arrangement of freight and cargo transportation outweighed falling prices for crude petroleum, 
primary basic organic chemicals, and guestroom rental. For the 12 months ended in August, the 
index for stage 2 intermediate demand jumped 20.4 percent.

Stage 1 intermediate demand: Prices for stage 1 intermediate demand moved down 0.4 percent in 
August after decreasing 1.7 percent in July. In August, the index for total goods inputs to stage 1 
intermediate demand fell 1.7 percent. Conversely, prices for total services inputs increased 1.1 
percent. Declines in the indexes for diesel fuel, primary basic organic chemicals, iron and steel, 
gasoline, residual fuels, and guestroom rental outweighed rising prices for securities brokerage, 
dealing, investment advice, and related services; nonresidential real estate rents; and natural gas to 
electric utilities. For the 12 months ended in August, the index for stage 1 intermediate demand 
advanced 10.4 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

2021

Aug.

0.7 0.9 0.6 1.0 1.6 0.4 0.7 0.9 0.5 0.8 1.3 0.5

Sept.

0.4 0.8 0.1 1.1 1.2 1.0 2.2 3.6 0.9 0.2 0.7 -0.3

Oct.

0.6 1.3 0.0 1.0 1.9 0.2 3.7 7.9 -0.1 1.1 2.5 -0.3

Nov.

1.1 1.5 0.7 0.8 1.2 0.4 1.2 1.7 0.7 1.3 2.0 0.5

Dec.

0.7 0.5 0.8 0.8 0.7 0.9 -2.2 -5.6 1.2 0.4 0.0 0.8

2022

Jan.

1.5 2.1 1.0 1.6 2.6 0.7 1.4 2.7 0.1 1.4 1.8 1.0

Feb.

0.6 1.2 0.0 1.4 2.6 0.1 4.3 8.4 0.3 1.0 1.6 0.2

Mar.

1.2 1.6 0.8 3.1 4.5 1.6 0.8 0.3 1.3 2.8 3.3 2.2

Apr.(1)

1.0 1.2 0.7 2.5 3.7 1.3 2.8 4.7 0.7 1.7 2.4 0.9

May(1)

0.9 1.4 0.4 1.6 2.6 0.5 3.6 6.8 0.2 1.5 2.3 0.6

June(1)

0.3 1.0 -0.5 0.5 1.4 -0.5 3.0 5.4 0.1 0.9 2.3 -0.8

July(1)

-0.4 -0.9 0.0 -1.2 -2.5 0.4 -5.2 -10.2 0.9 -1.7 -2.9 -0.3

Aug.

0.5 -0.2 1.2 -1.8 -3.6 0.3 3.7 6.0 1.3 -0.4 -1.7 1.1

Footnotes
(1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for April 2022 through July 2022 have been revised to reflect the availability of late reports and corrections by respondents.

________________
The Producer Price Index for September 2022 is scheduled to be released on Wednesday, October 12, 2022, 
at 8:30 a.m. (ET).


Last Modified Date: September 14, 2022