Washington DC [US], November 13 (ANI): Producer prices in the United States rose 6.5 per cent on an annual basis in October 2026, marking the highest 12-month increase since November 2022, according to data released by the US Bureau of Labor Statistics (BLS) on Friday.
The latest Producer Price Index (PPI) report showed that prices for final demand increased 0.3 per cent in October on a seasonally adjusted basis, following a 1.4 per cent rise in September and a 0.4 per cent increase in August.
"The Producer Price Index for final demand rose 0.3 percent in October, seasonally adjusted," the BLS stated in its release.
The report highlighted that the 6.5 per cent annual increase was the largest since November 2022, when producer prices had risen 7.4 per cent.
The increase in October was primarily driven by higher prices for goods, with the index for final demand goods rising 0.5 per cent, while prices for final demand services advanced 0.2 per cent.
According to the release, more than 60 per cent of the monthly increase in goods prices was attributable to final demand goods excluding food and energy, which rose 0.5 per cent.
Food prices increased 1.3 per cent during the month, while energy prices edged down 0.1 per cent.
On an annual basis, final demand goods prices surged 10.2 per cent, marking their largest 12-month increase since October 2022.
The report further noted that prices for basic organic chemicals increased 3.9 per cent in October, while prices for fresh and dry vegetables, gas fuels, jet fuel and processed young chickens also moved higher.
In contrast, diesel fuel prices declined 7.9 per cent, while prices for pork and passenger cars also decreased.
Meanwhile, the index for final demand services rose 0.2 per cent in October, recording its fifth consecutive monthly increase.
"Three-fourths of the October rise can be traced to a 2.0-percent increase in prices for final demand transportation and warehousing services," the release stated.
Prices for truck transportation of freight increased 3.9 per cent, accounting for more than 80 per cent of the monthly rise in the final demand services index.
However, margins for machinery and vehicle wholesaling declined 4.2 per cent, while prices for system software publishing and airline passenger services also fell.
The report also showed that the index for final demand excluding foods, energy and trade services increased 0.5 per cent in October, matching September's rise. On an annual basis, this measure increased 4.9 per cent.
In intermediate demand, prices for processed goods increased 0.4 per cent, while prices for unprocessed goods declined 3.1 per cent, largely reflecting a 10.3 per cent fall in crude petroleum prices. (ANI)
US producer prices rise 6.5 pc annually in October, highest since November 2022
