Macro

Producer prices rose 6.5% in the year through October, the largest 12-month increase since November 2022

The index rose 0.3 percent in October, seasonally adjusted, after a 1.4 percent advance in September. That was against a Dow Jones consensus for a 0.4 percent increase, CNBC said.

By James Mitchell · Nov 13, 2026, 12:40 PM EST

Why it matters: Prices less foods, energy, and trade services were up 4.9% over 12 months. A Chicago Fed president said progress has stalled in categories not driven by oil or tariffs.

For information only, not investment advice.

The Producer Price Index for final demand rose 0.3 percent in October, seasonally adjusted, after advancing 1.4 percent in September.¹ That was against the Dow Jones consensus for a 0.4 percent increase, CNBC said.² The report comes just a few weeks ahead of the Federal Reserve's next policy meeting Dec. 8-9.²

On an unadjusted basis, the index for final demand increased 6.5 percent for the 12 months ended in October, the largest 12-month rise since moving up 7.4 percent in November 2022, the U.S. Bureau of Labor Statistics said.¹ The October advance was led by a 0.5 percent increase in final demand goods, while prices for final demand services moved up 0.2 percent.¹

The index for final demand less foods, energy, and trade services rose 0.5 percent in October, the same as in September, and advanced 4.9 percent for the 12 months ended in October.¹

For the 12 months ended in October, the index for final demand goods increased 10.2 percent, the largest 12-month rise since advancing 10.5 percent in October 2022.¹

Final demand services posted a fifth consecutive advance.¹ Three-fourths of the October rise was traced to a 2.0 percent increase in prices for final demand transportation and warehousing services.¹ Truck transportation of freight rose 3.9 percent.¹

For the 12 months ended in October, prices for processed goods for intermediate demand increased 14.6 percent, the largest 12-month rise since jumping 17.2 percent in July 2022.¹

"We've had some signs of trouble now for several months in a row," Chicago Fed President Austan Goolsbee said in a CNBC interview Friday. He said inflation progress had stalled, or reversed, in categories not driven by oil prices or tariffs.²

"Today's PPI data – which shows some signs of improving, albeit still too-high – is unlikely to change the Fed's approach in December because the CPI data was already outside their comfort zone," said Chris Zaccarelli, chief investment officer for Northlight Asset Management, according to CNBC.²

Tags: inflation · fed · interest-rates