Mucahithan Avcioglu
13 November 2026•Update: 13 November 2026
US producer prices rose 6.5% year-on-year in October, marking their largest annual increase since November 2022, according to Labor Department data released Friday.
Annual producer inflation accelerated from 6.3% in September, the Bureau of Labor Statistics reported.
On a monthly basis, the Producer Price Index (PPI) for final demand increased 0.3%, easing from a 1.4% gain in September and a 0.4% rise in August.
Goods prices drove the monthly increase, climbing 0.5%, while services prices rose 0.2%.
Excluding food, energy and trade services, producer prices increased 0.5% for the second consecutive month. The measure rose 4.9% year-on-year, slowing from 5% in September.
Goods excluding food and energy accounted for more than 60% of the monthly increase in goods prices, rising 0.5%. Food prices climbed 1.3%, while energy prices edged down 0.1%.
Diesel fuel prices fell 7.9%, while basic organic chemicals rose 3.9%. Prices also increased for vegetables, gas fuels, jet fuel and processed young chickens.
On an annual basis, goods prices surged 10.2%, their largest increase since October 2022.
Services prices rose for the fifth consecutive month, with transportation and warehousing costs climbing 2% and accounting for three-quarters of the overall increase in services prices.
Freight trucking prices jumped 3.9%, while margins for machinery and vehicle wholesaling declined 4.2%.
Meanwhile, prices for processed goods used in intermediate production rose 0.4% month-on-month and 14.6% year-on-year, marking their largest annual increase since July 2022.
Prices for unprocessed goods fell 3.1% in October, driven by a 7.7% decline in energy materials. Crude petroleum prices dropped 10.3%.