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Final demand producer prices up 8.6 percent for the 12 months ended September 2021

October 21, 2021

The Producer Price Index for final demand increased 8.6 percent for the 12 months ended September 2021, the largest 12-month increase on record. Prices for final demand goods, which account for 32.1 percent of the Producer Price Index, increased 13.3 percent over the year ended September 2021. Final demand services, with a weight of 66.2 percent, increased 6.4 percent from September 2020 to September 2021.

12-month percent change in the Final Demand Producer Price Index, and relative importance weight, by category, September 2021
Category 12-month percent change, Sept. 2020 to Sept. 2021 Relative importance weight, December 2020

Final demand, total

8.6% 100.000%

Final demand goods

13.3 32.135

Final demand foods

12.9 5.590

Final demand energy

36.3 4.993

Final demand goods less foods and energy

8.3 21.553

Final demand services

6.4 66.160

Final demand trade services

9.7 19.686

Final demand transportation and warehousing services

10.7 4.137

Final demand services less trade, transportation, and warehousing

4.4 42.337

Final demand construction

5.2 1.705

Within the goods category, final demand foods, which have a weight of 5.6 percent, increased 12.9 percent. Prices for final demand energy, with a weight of 5.0 percent, increased 36.3 percent over the year. Prices for final demand goods less food and energy, which have a weight of 21.5 percent, increased 8.3 percent.

Within the services category, prices for final demand trade services (with a weight of 19.7 percent) increased 9.7 percent over the year. Prices for final demand transportation and warehousing services (weight of 4.1 percent) increased 10.7 percent. Prices for final demand services less trade, transportation, and warehousing (weight of 42.3 percent) increased 4.4 percent during this 12-month period.

Prices for final demand construction, which makes up 1.7 percent of total producer prices, increased 5.2 percent.

These data are from the Producer Price Indexes program and are not seasonally adjusted. To learn more, see "Producer Price Indexes — September 2021." Also see Charts related to the latest "U.S. Producer Price Indexes" news release. Producer price indexes measure prices U.S. producers receive for goods, services, and construction. All producer price data are subject to revision 4 months after initial publication. The relative importance weight of each component represents its share of the total final demand, expressed as a percentage, with the total equal to 100 percent.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Final demand producer prices up 8.6 percent for the 12 months ended September 2021 at https://www.bls.gov/opub/ted/2021/final-demand-producer-prices-up-8-6-percent-for-the-12-months-ended-september-2021.htm (visited November 29, 2021).

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