USD — Core PPI m/m

US Core PPI m/m measures the percentage change from the previous month in the Producer Price Index for final demand excluding foods and energy. It is published monthly by the U.S. Bureau of Labor Statistics and is normally read on a seasonally adjusted basis. The index tracks prices received by domestic producers, not the prices consumers pay at stores.

Excluding food and energy reduces volatility from those categories, but this calendar measure still includes trade services. Trade-services indexes measure changes in distributor margins and can move sharply, so traders should not confuse “final demand less foods and energy” with the separate BLS measure that also excludes trade services. Services, goods and construction can contribute differently to the monthly result.

Compare Actual with Forecast and Previous, then check the detailed final-demand tables and revisions. A stronger-than-expected core reading can suggest persistent pipeline price pressure and may lift Treasury yields or support the USD if markets infer a more restrictive Federal Reserve path. A softer result can have the opposite effect. Producer-price changes do not automatically pass through to consumer inflation because firms can alter margins, sourcing or productivity.

Recent PPI estimates may be revised as additional survey responses arrive, and seasonal factors can change historical monthly rates. Evaluate the three- and six-month trend and compare this measure with headline PPI, PPI excluding food, energy and trade services, CPI and PCE inflation.

Official source: U.S. Bureau of Labor Statistics (BLS), Producer Price Indexes.