Updated: 10-Sep-26 09:14 ET

August PPI

Updated: 10-Sep-26 09:14 ET

Highlights

• Total PPI was up 0.4% month-over-month in August (Briefing.com consensus 0.4%) after a revised 0.1% increase (from 0.0%) in July.
• Core PPI, which excludes food and energy, was up 0.2% month-over-month (Briefing.com consensus 0.3%) after increasing a revised 0.3% (from 0.2%) in July.
• Total PPI was up 5.4% year-over-year, up from 4.8% in July. Core PPI was up 4.6% year-over-year versus 4.3% in July.

Key Factors

• The index for final demand goods rose 1.1%, paced by a 4.2% increase in prices for final demand energy.
• The index for final demand services was up 0.1%, led by a 2.3% increase in final demand transportation and warehousing services.
• The index for processed goods for intermediate demand rose 1.8%, paced by a 7.3% jump in prices for processed energy goods.
• The index for unprocessed goods for intermediate demand rose 1.1%, mostly due to a 2.1% increase in prices for unprocessed nonfood materials less energy.

Big Picture

• The key takeaway from the report is that while the slightly cooler-than-expected core PPI was a positive sight, it was essentially masked by the upward revisions to readings for July, so this report reinforces the market's expectations for a rate hike as early as next week.

Category	AUG	JUL	JUN	MAY	APR
Final Demand	0.4%	0.1%	-0.1%	0.5%	1.1%
Core (excluding ...)
Food and Energy	0.2%	0.3%	0.4%	0.0%	0.7%
Food, Energy, and Trade	0.3%	0.4%	0.2%	0.8%	0.5%
Final Demand Goods
Total	1.1%	-0.4%	-1.4%	2.2%	1.9%
Energy	4.2%	-1.8%	-6.8%	8.2%	7.1%
Finished Goods		-0.7%	-1.4%	2.4%`	1.6%
Final Demand Services
Total	0.1%	0.2%	0.5%	-0.2%	0.8%
Trade	-0.2%	-0.1%	1.2%	-2.7%	1.5%
Intermediate Demand
Processed	1.8%	-0.4%	-1.0%	2.7%	2.6%
Unprocessed	1.1%	0.7%	-6.5%	3.0%	1.9%
Services	0.3%	0.1%	0.8%	0.4%	0.9%