US Final demand core Producer Price Index (PPI)
US Final demand core Producer Price Index (PPI) stood at 155.92 in Sep 2026, according to FRED (Federal Reserve Bank of St. Louis). It is one of the indicators in the PPI table (Value · Monthly), with a complete series running from Apr 2010 to Sep 2026. The complete series with an interactive chart, free to download.
This indicator in the PPI table
| Indicator | 09-2026 | 08-2026 | 07-2026 | 06-2026 | 05-2026 | 04-2026 | 03-2026 | 02-2026 | 01-2026 | 12-2025 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Final demand | 159.61 | 157.86 | 157.3 | 157.16 | 157.22 | 156.44 | 154.68 | 153.16 | 152.15 | 150.77 | |
| Final demand less foods and energy (core) | 155.92 | 155.02 | 154.74 | 154.39 | 153.72 | 153.84 | 152.74 | 152.11 | 151.54 | 149.94 | |
| Final demand less foods, energy, and trade services | 143.93 | 143.49 | 143.34 | 142.67 | 142.26 | 141.29 | 140.64 | 140.2 | 139.54 | 138.43 |
Understanding US Final demand core Producer Price Index (PPI)
After removing food and energy groups from total final demand, the remaining series covers prices of goods, services, and construction sold to final users. This exclusion aims to reduce the impact of items that are typically volatile, while retaining trade services and other groups whose prices can fluctuate significantly. Hence, it is broader than measures that additionally exclude trade services and should not be viewed as a goods-only index.
This is a price level index, so the direction of change matters more than absolute level figures, which depend on the base period. Month-on-month comparisons help identify recent price pressures; year-on-year comparisons provide a more stable view and limit seasonal noise, especially around early-year holidays. Excluding food and energy does not mean these two groups have no impact: their costs can still transmit indirectly via transport, raw materials, or distribution margins. The latest period may be revised, and changes in weights or classifications can cause components' contributions to shift.
Frequently asked questions
- What components are excluded from the core index here?
- The chain strips food and energy out of final demand while retaining many other commodities, services, and construction.
- Does a rising core index guarantee that consumer prices will follow suit?
- No. Producer output prices are only one source of pressure, while retail margins, imports, and demand also influence consumer prices.
- Why can trade services still cause volatility in the chain?
- Distribution margins can shift sharply with supply, demand, and pricing policies even after food and energy are removed.