From the Bureau of Labor Statistics
producer price index updates
The Producer Price Index for final demand increased 1.4 percent in April, seasonally adjusted,
the U.S. Bureau of Labor Statistics reported today (Wednesday) Final demand prices advanced 0.7 percent in
March and 0.6 percent in February. (See table A.) The April increase is the largest advance since
rising 1.7 percent in March 2022. On an unadjusted basis, the index for final demand rose 6.0
percent for the 12 months ended in April, the largest 12-month increase since moving up 6.4
percent in December 2022.
Nearly 60 percent of the April rise in final demand prices can be attributed to a 1.2-percent
advance in the index for final demand services. Prices for final demand goods moved up 2.0
percent.
The index for final demand less foods, energy, and trade services increased 0.6 percent in April,
the largest advance since rising 0.6 percent in October 2025. For the 12 months ended in April,
prices for final demand less foods, energy, and trade services moved up 4.4 percent, the largest
12-month increase since jumping 4.5 percent in February 2023.
Final Demand
Final demand services: The index for final demand services rose 1.2 percent in April, the largest
increase since moving up 1.3 percent in March 2022. Two-thirds of the broad-based advance in April
can be traced to a 2.7-percent jump in margins for final demand trade services. (Trade indexes
measure changes in margins received by wholesalers and retailers). The indexes for final demand
transportation and warehousing services and for final demand services less trade, transportation, and
warehousing also rose, 5.0 percent and 0.1 percent, respectively.
Product detail: A major factor in the April advance in prices for final demand services was a 3.5-
percent increase in margins for machinery and equipment wholesaling. The indexes for truck
transportation of freight; fuels and lubricants retailing; health, beauty, and optical goods retailing;
chemicals and allied products wholesaling; and legal services also moved higher. Conversely, prices
for portfolio management fell 2.4 percent. Margins for food retailing and for metals, minerals, and
ores wholesaling also decreased. (See table 2.)
Final demand goods: The index for final demand goods advanced 2.0 percent in April after rising
1.9 percent in March. More than three-quarters of the broad-based increase in April can be traced to a
7.8-percent jump in prices for final demand energy. The indexes for final demand goods less foods
and energy and for final demand foods also moved up, 0.7 percent and 0.2 percent, respectively.
Product detail: Over 40 percent of the April advance in prices for final demand goods can be
attributed to a 15.6-percent increase in the index for gasoline. Prices for jet fuel, diesel fuel, fresh and
dry vegetables, industrial chemicals, and residual fuels also rose. In contrast, the index for chicken
eggs dropped 49.7 percent. Prices for nonferrous scrap and for residential natural gas also fell.
Intermediate Demand by Commodity Type
Within intermediate demand in April, prices for processed goods increased 2.7 percent, the index for
unprocessed goods rose 4.1 percent, and prices for services advanced 1.1 percent. (See tables B and
C.)
Processed goods for intermediate demand: The index for processed goods for intermediate
demand increased 2.7 percent in April, the sixth straight advance. More than half of the broad-based
April rise can be traced to prices for processed energy goods, which moved up 7.8 percent. The
indexes for processed materials less foods and energy and for processed foods and feeds also
advanced, 1.5 percent and 0.4 percent, respectively. For the 12 months ended in April, prices for
processed goods for intermediate demand moved up 9.4 percent, the largest 12-month rise since
jumping 10.1 percent in October 2022.
Product detail: Nearly a quarter of the April advance in the index for processed goods for
intermediate demand is attributable to prices for diesel fuel, which jumped 12.6 percent. The indexes
for jet fuel, gasoline, industrial chemicals, electronic components and accessories, and plastic resins
and materials also increased. Conversely, prices for natural gas to electric utilities declined 3.5
percent. The indexes for beef and veal and for industrial gases also fell.
Unprocessed goods for intermediate demand: Prices for unprocessed goods for intermediate
demand rose 4.1 percent in April, the sixth consecutive increase. More than 80 percent of the April
advance can be traced to the index for unprocessed energy materials, which moved up 9.2 percent.
Prices for unprocessed foodstuffs and feedstuffs rose 2.7 percent. In contrast, the index for
unprocessed nonfood materials less energy declined 1.0 percent. For the 12 months ended in April,
prices for unprocessed goods for intermediate demand advanced 20.9 percent, the largest 12-month
increase since jumping 29.2 percent in September 2022.
Product detail: Nearly three-quarters of the April advance in the index for unprocessed goods for
intermediate demand can be attributed to prices for crude petroleum, which moved up 11.3 percent.
The indexes for raw milk, slaughter steers and heifers, natural gas, iron and steel scrap, and fresh
vegetables (except potatoes) also rose. Conversely, prices for nonferrous scrap decreased 4.4 percent.
The indexes for corn and for hay, hayseeds, and oilseeds also declined.
Services for intermediate demand: The index for services for intermediate demand increased 1.1
percent in April, the largest advance since moving up 1.3 percent in March 2022. Half of the broad-
based rise in April is attributable to prices for transportation and warehousing services for
intermediate demand, which jumped 3.7 percent. The indexes for services less trade, transportation,
and warehousing for intermediate demand and for trade services for intermediate demand also
increased, 0.5 percent and 0.9 percent, respectively. For the 12 months ended in April, prices for
services for intermediate demand moved up 4.4 percent, the largest 12-month advance since rising
4.7 percent in July 2023.
Product detail: Over one-fifth of the April rise in the index for services for intermediate demand can
be traced to an 8.1-percent increase in prices for truck transportation of freight. The indexes for
internet advertising sales; chemicals and allied products wholesaling; courier, messenger, and U.S.
postal services; freight forwarding; and fuels and lubricants retailing also moved higher. In contrast,
margins for metals, minerals, and ores wholesaling fell 8.2 percent. Prices for portfolio management
and for services related to air transportation also decreased.
Intermediate Demand by Production Flow
Stage 4 intermediate demand: Prices for stage 4 intermediate demand advanced 0.9 percent in
April, the largest increase since rising 0.9 percent in January 2023. In April, the index for total goods
inputs to stage 4 intermediate demand climbed 1.2 percent, and prices for total services inputs moved
up 0.7 percent. (See table D.) Advances in the indexes for gasoline, transportation of freight and mail,
chemicals and allied products wholesaling, diesel fuel, electronic components and accessories, and
internet advertising sales outweighed declines in the indexes for portfolio management; metals,
minerals, and ores wholesaling; and beef and veal. For the 12 months ended in April, prices for stage
4 intermediate demand rose 5.4 percent, the largest 12-month increase since moving up 5.4 percent in
January 2023.
Stage 3 intermediate demand: The index for stage 3 intermediate demand increased 2.3 percent in
April, the largest rise since advancing 3.2 percent in March 2022. In April, prices for total goods
inputs to stage 3 intermediate demand jumped 3.3 percent, and the index for total services inputs
moved up 1.4 percent. Higher prices for raw milk; diesel fuel; truck transportation of freight; courier,
messenger, and U.S. postal services; industrial chemicals; and asphalt outweighed decreases in the
indexes for slaughter chickens, corn, and paper and plastics products wholesaling. For the 12 months
ended in April, prices for stage 3 intermediate demand increased 5.9 percent, the largest 12-month
rise since advancing 8.1 percent in November 2022.
Stage 2 intermediate demand: Prices for stage 2 intermediate demand rose 2.8 percent in April, the
largest advance since moving up 3.1 percent in August 2022. In April, the index for total goods
inputs to stage 2 intermediate demand climbed 5.1 percent, and prices for total services inputs
increased 1.3 percent. Advances in the indexes for crude petroleum, fuels and lubricants retailing,
freight forwarding, natural gas, internet advertising sales, and plastic resins and materials outweighed
declines in the indexes for metals, minerals, and ores wholesaling; hay, hayseeds, and oilseeds; and
portfolio management. For the 12 months ended in April, prices for stage 2 intermediate demand rose
11.1 percent, the largest 12-month increase since jumping 16.1 percent in September 2022.
Stage 1 intermediate demand: The index for stage 1 intermediate demand increased 2.1 percent in
April, the largest advance since jumping 2.9 percent in March 2022. In April, prices for total goods
inputs to stage 1 intermediate demand moved up 2.7 percent, and the index for total services inputs
rose 1.2 percent. Higher prices for industrial chemicals, diesel fuel, truck transportation of freight,
gasoline, jet fuel, and internet advertising sales outweighed decreases in the indexes for nonferrous
scrap; metals, minerals, and ores wholesaling; and corn. For the 12 months ended in April, prices for
stage 1 intermediate demand advanced 8.9 percent, the largest 12-month increase since rising 9.2
percent in October 2022.