September PPI: Results, market reaction, and key takeaway
Final-demand PPI rose 1.3% MoM in September after a revised 0.5% in August, and 6.3% YoY. Goods prices rose 2.6%, led by energy, while services increased 0.8%. Excluding food, energy, and trade services, prices rose 0.5% MoM and 5.0% YoY.
📊 Results
Actual Reading
💡 Key Takeaway
Energy dominated the goods-price increase, while service margins also rose. Near-term cost and interest-rate risks matter for AI infrastructure, but this release does not establish a reversal of long-run productivity-led disinflation.
📖 Why This Matters
Wholesale prices the morning after CPI: pipeline pressure or relief?
September PPI actual vs expected
| Release date | Thursday, October 15, 2026 at 08:30 ET |
|---|---|
| Event type | PPI |
| Actual | 1.3% MoM |
| Prior | 0.5% MoM |
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🔗 Related Events
January PPI
Hot — headline PPI +0.5% MoM (vs +0.3% expected), driven by services costs surging. Core PPI +3.6% YoY. Tariff passthrough showing up in producer prices.
February PPI
Producer prices jumped 0.7% MoM in February, well above the 0.3% consensus. The yearly pace accelerated to 3.4%, showing pipeline inflation was heating up before second-round war effects fully hit.
March PPI
Producer prices rose 0.4% MoM in March, hotter than the 0.2% consensus, with headline PPI accelerating to 3.5% YoY and core measures staying sticky. The report reinforced the idea that pipeline inflation pressure was still building after the war-driven energy shock.