October PPI Rises 0.3% as the Annual Rate Hits 6.5%

The U.S. Bureau of Labor Statistics reported on Friday, November 13, 2026, that the Producer Price Index for final demand rose 0.3 percent in October, seasonally adjusted, after advances of 1.4 percent in September and 0.4 percent in August. The official news release, USDL 26-1687, was embargoed until 8:30 a.m. Eastern Time. 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 the index moved up 7.4 percent in November 2022. This article records those official post-results figures and the accompanying goods, services, and intermediate-demand detail. It is not a rewrite of the November 11 preview of Friday’s report.

Prices for final demand goods led the October advance, increasing 0.5 percent, while prices for final demand services moved up 0.2 percent. The Bureau’s closely watched index for final demand less foods, energy, and trade services rose 0.5 percent in October, the same as in September, and was up 4.9 percent for the 12 months ended in October. A broader special grouping, final demand less foods and energy, rose 0.3 percent in October and was up 5.0 percent over the same 12 months, according to official Table 1. Those two series are not interchangeable, and neither should be confused with a private forecast.

The same week already included the official October Consumer Price Index, published at 8:30 a.m. Eastern Time on Tuesday, November 10, in USDL-26-1685. That report showed the CPI for All Urban Consumers rising 0.4 percent seasonally adjusted after a 0.6 percent increase in September. Because of a lapse in appropriations, the Bureau did not collect October 2025 CPI survey data and could not publish most October 2026 12-month CPI percent changes. The PPI release, by contrast, does publish unadjusted 12-month percent changes for final demand and for the major groupings reviewed below. Readers who want the official CPI scorecard can consult the earlier recap of the October CPI print. A calendar-style guide to reading CPI, PPI, and Federal Open Market Committee dates remains in the earlier CPI, PPI, and FOMC calendar.

Key official takeaways from USDL 26-1687

• Final demand rose 0.3 percent seasonally adjusted in October, after 1.4 percent in September and 0.4 percent in August.
• The unadjusted 12-month increase in final demand was 6.5 percent, the largest since 7.4 percent in November 2022.
• Final demand goods rose 0.5 percent; final demand services rose 0.2 percent, the fifth consecutive advance in services.
• Final demand less foods, energy, and trade services rose 0.5 percent in October, matching September, and was up 4.9 percent over 12 months.
• Final demand goods less foods and energy rose 0.5 percent and accounted for over 60 percent of the October advance in final demand goods, according to the official narrative.
• Final demand foods increased 1.3 percent; final demand energy edged down 0.1 percent.
• The 12-month increase in final demand goods was 10.2 percent, the largest since 10.5 percent in October 2022.
• Three-fourths of the October rise in final demand services came from transportation and warehousing services, which increased 2.0 percent. Truck transportation of freight rose 3.9 percent and accounted for over 80 percent of the October increase in final demand services.
• Processed goods for intermediate demand rose 0.4 percent in October and 14.6 percent over 12 months, the largest 12-month rise since 17.2 percent in July 2022. Unprocessed goods fell 3.1 percent in October but were up 16.9 percent over 12 months.
• The next official PPI news release, covering November 2026, is scheduled for Tuesday, December 15, 2026, at 8:30 a.m. Eastern Time. October figures are preliminary.

The official headline path in Table A

Official Table A in the November 13 release reports seasonally adjusted one-month percent changes for selected final-demand indexes, plus unadjusted 12-month changes for total final demand and for final demand less foods, energy, and trade services. A footnote states that some figures may differ from those previously reported because data for June through September have been revised to reflect late reports and corrections by respondents. The October column is the new official print. The table below reproduces the official monthly cells from October 2025 through October 2026.

The official 12-month column shows how the headline unadjusted rate climbed from 2.8 percent in the 12 months ended October 2025 to 6.5 percent in the 12 months ended October 2026. It first reached 5.7 percent in April 2026 and 5.9 percent in May, eased to 4.9 percent in July, then moved back up through 5.5 percent in August and 6.3 percent in September before the October print. The companion 12-month series for final demand less foods, energy, and trade services peaked at 5.1 percent in June 2026 in this table, stood at 5.0 percent in September, and was 4.9 percent in October. The October monthly slowdown in total final demand, from 1.4 percent to 0.3 percent, therefore sits on top of a still-elevated 12-month rate and a 0.5 percent monthly reading in the less-foods-energy-and-trade grouping, which did not slow from September.

Final demand goods: a 0.5 percent rise with food up and energy slightly down

The official narrative says the index for final demand goods increased 0.5 percent in October following a 2.5 percent rise in September. Over 60 percent of the October advance is attributable to prices for final demand goods less foods and energy, which moved up 0.5 percent. The index for final demand foods increased 1.3 percent. In contrast, prices for final demand energy edged down 0.1 percent. For the 12 months ended in October, the index for final demand goods increased 10.2 percent, the largest 12-month rise since an advance of 10.5 percent in October 2022.

Official Table 1 supplies the December 2025 relative-importance weights that sit behind those groupings, along with the same monthly and 12-month percent changes. Final demand goods carry a weight of 29.028 out of 100.000 for total final demand. Within goods, foods are 5.452, energy is 5.061, and goods less foods and energy are 18.515. Adding those three official weight cells, 5.452 plus 5.061 plus 18.515, equals 29.028, which matches the official goods total; that arithmetic is a calculation from official cells, not a separate labeled total invented beyond Table 1. The 12-month rates on the same rows are 1.7 percent for final demand foods, 37.0 percent for final demand energy, and 5.2 percent for goods less foods and energy. The energy grouping’s 12-month rate remains far larger than the monthly dip of 0.1 percent would suggest if a reader looked only at October.

Product detail in the official narrative, cross-checked to official Table 2 where the selected commodity list includes a matching cell, helps explain the goods mix. Prices for basic organic chemicals advanced 3.9 percent in October and were up 19.3 percent over 12 months. The Bureau also lists official October increases, without a narrative percent, for fresh and dry vegetables; gas fuels; aeronautical, nautical, and navigational instruments; jet fuel; and processed young chickens. Table 2 does publish selected cells for several of those series: fresh and dry vegetables rose 26.7 percent in October and 36.0 percent over 12 months; jet fuel, which Table 2 flags as not seasonally adjusted, rose 7.0 percent in October and 106.5 percent over 12 months; processed young chickens rose 10.8 percent in October and 2.1 percent over 12 months. This article does not invent October percent changes for gas fuels or for aeronautical, nautical, and navigational instruments, because those series are named in the narrative and are not given a matching percent in the Table 2 extract used here.

Offsetting declines were also official. Diesel fuel prices fell 7.9 percent in October. Table 2 identifies that series as No. 2 diesel fuel and shows a 12-month increase of 115.2 percent, plus earlier monthly swings of a 17.9 percent decline in June, a 4.8 percent decline in July, a 24.4 percent rise in August, and a 19.9 percent rise in September. The indexes for pork and for passenger cars also declined, according to the narrative. Table 2 reports pork down 5.8 percent in October and down 23.5 percent over 12 months, and passenger cars down 0.6 percent in October and up 0.7 percent over 12 months. Light motor trucks, listed separately, rose 0.1 percent in October and 1.9 percent over 12 months. Other official Table 2 food and energy cells around the same block include beef and veal up 1.3 percent in October and 6.0 percent over 12 months; processed turkeys, not seasonally adjusted, up 5.6 percent in October but down 37.6 percent over 12 months; dairy products, not seasonally adjusted, up 0.7 percent in October and 1.6 percent over 12 months; gasoline up 0.5 percent in October and 75.9 percent over 12 months; home heating oil and distillates up 4.5 percent in October and 118.5 percent over 12 months; natural gas liquids, not seasonally adjusted, up 21.4 percent in October and 79.9 percent over 12 months; residential electric power down 0.8 percent in October and up 3.1 percent over 12 months; and residential natural gas up 0.4 percent in October and 5.1 percent over 12 months.

Table 2 also places industrial chemicals up 3.1 percent in October and 17.1 percent over 12 months, while pharmaceutical preparations, not seasonally adjusted, were unchanged in October and up 1.0 percent over 12 months. Those goods-less-foods-and-energy details sit under the official 0.5 percent rise in that grouping and help show why the Bureau attributed more than 60 percent of the goods advance to that category even as diesel prices fell sharply and energy overall edged down.

Final demand services: a fifth consecutive advance, led by trucking

The index for final demand services moved up 0.2 percent in October, the fifth consecutive advance. Official Table A shows the prior four monthly services readings as 0.5 percent in June, 0.2 percent in July, 0.1 percent in August, and 1.0 percent in September. Three-fourths of the October rise can be traced to a 2.0 percent increase in prices for final demand transportation and warehousing services. The index for final demand services less trade, transportation, and warehousing advanced 0.2 percent. In contrast, margins for final demand trade services decreased 0.2 percent. Official Table 1 assigns final demand services a December 2025 relative importance of 68.338. Within that total, trade services are 19.755, transportation and warehousing services are 4.857, and services less trade, transportation, and warehousing are 43.725. Adding those three official weight cells, 19.755 plus 4.857 plus 43.725, equals 68.337, which is 0.001 below the official services total of 68.338; Table 1 already warns that individual items and subtotals may not add exactly to totals because of rounding differences, so that 0.001 gap is treated as a rounding difference in a calculation from official cells, not as a missing official category.

The 12-month rates on those official service rows are 5.0 percent for final demand services, 5.7 percent for trade services, 18.5 percent for transportation and warehousing services, and 3.2 percent for services less trade, transportation, and warehousing. Transportation and warehousing is a much smaller weight than trade or the residual services grouping, but its 18.5 percent 12-month rate and 2.0 percent October increase are the official reason it dominated the monthly services story.

Product detail is equally concentrated. Over 80 percent of the October increase in the index for final demand services is attributable to prices for truck transportation of freight, which rose 3.9 percent. Official Table 2 reports the same 3.9 percent October increase, flags the series as not seasonally adjusted, and shows a 12-month increase of 24.6 percent, with monthly changes of -0.4 percent in June, -0.6 percent in July, 2.9 percent in August, and 3.8 percent in September. The Bureau also says the indexes for fuels and lubricants retailing; health, beauty, and optical goods retailing; food and alcohol wholesaling; hospital outpatient care; and traveler accommodation services moved higher. Table 2 cells for those named series show fuels and lubricants retailing up 22.2 percent in October after declines of 11.1 percent in August and 18.9 percent in September, and down 2.6 percent over 12 months; health, beauty, and optical goods retailing, not seasonally adjusted, up 4.2 percent in October and 7.6 percent over 12 months; food and alcohol wholesaling, not seasonally adjusted, up 4.2 percent in October and 8.6 percent over 12 months; hospital outpatient care up 0.8 percent in October and 2.3 percent over 12 months; and traveler accommodation services up 2.5 percent in October and 4.9 percent over 12 months.

Conversely, margins for machinery and vehicle wholesaling fell 4.2 percent. Table 2 confirms that 4.2 percent October decline, flags the series as not seasonally adjusted, and shows a 12-month increase of 1.5 percent, after a 4.0 percent rise in September. Prices for system software publishing and for airline passenger services also declined, according to the official narrative. Table 2 reports airline passenger services down 1.2 percent in October and up 15.0 percent over 12 months. This article does not invent a percent change for system software publishing, which is named in the narrative but is not treated here as identical to the separately listed Table 2 series for application software publishing.

Final demand construction, a smaller official grouping with a December 2025 relative importance of 2.634 in Table 1, rose 1.8 percent in October and 5.5 percent over 12 months. Adding the official goods, services, and construction weights, 29.028 plus 68.338 plus 2.634, equals 100.000 and matches the official final-demand total. That arithmetic is a calculation from official Table 1 cells. Construction is easy to overlook in a headline discussion of goods and services, but it is part of the official final-demand structure and posted one of the larger October monthly increases among major groupings.

Two official “less foods and energy” series, and why they differ

Market commentary often collapses several official PPI series into a single word, “core.” The Bureau publishes more than one special grouping, and the October release is a reminder to keep the names straight. Final demand less foods, energy, and trade services — the series featured in the opening paragraphs of USDL 26-1687 and in Table A — rose 0.5 percent in October, the same as in September, and was up 4.9 percent over 12 months. Official Table 1 gives that series a December 2025 relative importance of 69.732. A different official grouping, final demand less foods and energy, rose 0.3 percent in October and was up 5.0 percent over 12 months, with a relative importance of 89.487. The second series is broader because it still includes trade services. In October, official trade margins declined 0.2 percent, so including trade pulls the 0.5 percent reading down to the 0.3 percent reading. Other official special groupings in Table 1 include final demand less foods, up 0.3 percent in October and 6.8 percent over 12 months; final demand less energy, up 0.4 percent and 4.9 percent over 12 months; and final demand less trade services, up 0.5 percent and 6.7 percent over 12 months.

A CNBC report on the October PPI said the 0.3 percent headline increase came in against a Dow Jones consensus for a 0.4 percent rise, and that a measure stripping out food and energy posted a 0.3 percent gain, meeting expectations. Those consensus figures are not official Bureau of Labor Statistics numbers. The official 0.3 percent reading on final demand less foods and energy is the Bureau series that matches the description “stripping out food and energy.” The official 0.5 percent reading on final demand less foods, energy, and trade services is a different series and should not be described as having “missed” or “beaten” that 0.3 percent consensus figure. This article does not use third-party aggregators that have displayed a monthly PPI decline, because those displays contradict the official Bureau print of a 0.3 percent increase in final demand.

Intermediate demand: processed goods still up, unprocessed goods down

The Bureau’s FD-ID system also tracks intermediate demand — prices for inputs sold to businesses, rather than to final demand. Within intermediate demand in October, the index for processed goods increased 0.4 percent, prices for unprocessed goods fell 3.1 percent, and the index for services rose 0.6 percent. Official Tables B and C, and the detailed weights in Table 1, fill in that pipeline.

Prices for processed goods for intermediate demand advanced 0.4 percent in October, the third consecutive rise after official Table B readings of 1.8 percent in August and 2.4 percent in September. Leading the October increase, the index for processed materials less foods and energy moved up 0.9 percent. Prices for processed foods and feeds advanced 1.0 percent. In contrast, the index for processed energy goods declined 1.6 percent. For the 12 months ended in October, prices for processed goods for intermediate demand increased 14.6 percent, the largest 12-month rise since a 17.2 percent jump in July 2022. Official Table B shows that 12-month processed-goods rate moving from 3.1 percent in October 2025 to 13.9 percent in September 2026 and then to 14.6 percent in October. Table 1’s special groupings give processed materials less foods and energy a relative importance of 73.488 inside processed goods, processed energy goods 17.275, and processed foods and feeds 9.237. The 0.9 percent October increase in the large less-foods-and-energy block is the official reason processed goods stayed positive even with a 1.6 percent drop in processed energy goods.

More than 40 percent of the October advance in processed goods for intermediate demand can be traced to prices for basic organic chemicals, which moved up 3.9 percent, the same official October rate reported on the final-demand side. The indexes for jet fuel, electronic components and accessories, natural gas liquids, fabricated structural metal products, and prepared animal feeds also increased. Table 2 cells include electronic components and accessories up 4.2 percent in October and 31.7 percent over 12 months; fabricated structural metal products up 1.7 percent and 8.1 percent over 12 months; and prepared animal feeds up 2.5 percent and 10.0 percent over 12 months. Conversely, prices for diesel fuel fell 7.9 percent, and the indexes for pork and for lumber also decreased. Table 2 shows lumber down 2.0 percent in October and up 6.4 percent over 12 months, with softwood lumber down 3.1 percent in October and up 10.6 percent over 12 months.

Prices for unprocessed goods for intermediate demand fell 3.1 percent in October, the largest decline since a 6.6 percent decrease in June. Leading the broad-based October decrease, the index for unprocessed energy materials dropped 7.7 percent. Prices for unprocessed nonfood materials less energy and for unprocessed foodstuffs and feedstuffs also fell, 0.9 percent and 0.2 percent, respectively. For the 12 months ended in October, the index for unprocessed goods for intermediate demand rose 16.9 percent, down from the 19.0 percent 12-month rate in September on official Table B. A major factor in the October decline was a 10.3 percent decrease in prices for crude petroleum. Table 2 flags crude petroleum as not seasonally adjusted and shows a 12-month increase of 52.0 percent, after monthly changes that included a 17.6 percent decline in June, a 5.3 percent decline in July, a 2.9 percent rise in August, and a 19.9 percent rise in September. The indexes for corn, slaughter hogs, wheat, aluminum base scrap, and hay and hayseeds also moved down. Table 2 reports corn down 9.6 percent in October and up 19.0 percent over 12 months; slaughter hogs down 9.9 percent and down 23.4 percent over 12 months; wheat, not seasonally adjusted, down 9.5 percent and up 38.5 percent over 12 months; aluminum base scrap down 2.6 percent and up 15.3 percent over 12 months; and hay and hayseeds, not seasonally adjusted, down 3.4 percent and up 32.1 percent over 12 months. In contrast, prices for raw milk advanced 8.2 percent and were down 0.4 percent over 12 months. The official narrative also says the indexes for natural gas and for carbon steel scrap increased. Table 2 reports natural gas, not seasonally adjusted, up 3.7 percent in October and 5.0 percent over 12 months. This article does not invent a separate October percent change for carbon steel scrap beyond that narrative mention.

Intermediate services, and the four production-flow stages

The index for services for intermediate demand rose 0.6 percent in October after increasing 1.0 percent in September. Over half of the broad-based October advance can be attributed to margins for trade services for intermediate demand, which moved up 1.6 percent. The indexes for transportation and warehousing services for intermediate demand and for services less trade, transportation, and warehousing for intermediate demand also increased, 1.2 percent and 0.2 percent, respectively. For the 12 months ended in October, prices for services for intermediate demand rose 6.8 percent, the largest 12-month advance since 6.9 percent in November 2022. Official Table 1 weights inside intermediate services are 18.420 for trade, 14.557 for transportation and warehousing, and 67.023 for services less trade, transportation, and warehousing. The 12-month rates on those rows are 15.1 percent, 11.9 percent, and 3.5 percent, respectively.

Thirty percent of the October increase in intermediate services can be traced to a 9.2 percent jump in margins for metals, minerals, and ores wholesaling. Official Table 2 flags that series as not seasonally adjusted, confirms the 9.2 percent October increase, and shows a 12-month increase of 92.6 percent, with earlier monthly increases of 1.7 percent in June, 9.8 percent in July, 7.1 percent in August, and 14.3 percent in September. The indexes for food and alcohol wholesaling; truck transportation of freight; courier, messenger, and U.S. postal services; fuels and lubricants retailing; and internet advertising sales also rose. Table 2 reports courier, messenger, and U.S. postal services up 1.7 percent in October and 11.1 percent over 12 months, and internet advertising sales, not seasonally adjusted, up 1.5 percent in October and 8.1 percent over 12 months. Conversely, prices for nonresidential property management fees decreased 5.9 percent; Table 2 flags that series as not seasonally adjusted and shows a 12-month increase of 0.4 percent. The indexes for securities brokerage, dealing, and investment advice and for services related to air transportation also declined. Table 2 reports securities brokerage, dealing, investment advice, and related services, not seasonally adjusted, down 0.3 percent in October and up 6.2 percent over 12 months. This article does not invent a percent change for services related to air transportation beyond the official narrative’s direction.

The Bureau also publishes intermediate demand by production flow, in four stages, with official October monthly changes in Table D and 12-month rates in the narrative and in Table 1. Prices for stage 4 intermediate demand increased 0.4 percent in October after moving up 1.1 percent in September, and the index rose 8.0 percent for the 12 months ended in October, the largest 12-month advance since 8.5 percent in September 2022. In October, total services inputs to stage 4 advanced 0.6 percent, and total goods inputs rose 0.3 percent. Increases in metals, minerals, and ores wholesaling; food and alcohol wholesaling; fabricated structural metal products; truck transportation of freight; electronic components and accessories; and chemicals and allied products wholesaling outweighed falling prices for diesel fuel, industrial electric power, and nonresidential property management fees. Table 2 shows industrial electric power down 4.2 percent in October and down 2.0 percent over 12 months, and chemicals and allied products wholesaling, not seasonally adjusted, up 2.1 percent in October and 11.4 percent over 12 months.

Prices for stage 3 intermediate demand rose 0.3 percent in October after increasing 1.1 percent in September, and were up 8.4 percent over 12 months, the largest 12-month advance since 9.5 percent in October 2022. Services inputs to stage 3 moved up 0.5 percent, and goods inputs advanced 0.2 percent. Rising prices for raw milk; iron and steel; truck transportation of freight; courier, messenger, and U.S. postal services; electronic components and accessories; and basic organic chemicals outweighed declines in diesel fuel, corn, and nonresidential property management fees.

The index for stage 2 intermediate demand decreased 0.2 percent in October, the first decline since a 0.3 percent decrease in July. Prices for total goods inputs to stage 2 dropped 1.4 percent, while total services inputs rose 0.7 percent. Declining prices for crude petroleum; diesel fuel; services related to air transportation; securities brokerage, dealing, and investment advice; waste collection; and legal services outweighed advances in fuels and lubricants retailing; gas fuels; and metals, minerals, and ores wholesaling. For the 12 months ended in October, stage 2 prices moved up 13.3 percent, the largest 12-month increase since 16.1 percent in September 2022. Table 2 reports waste collection down 1.4 percent in October and up 4.4 percent over 12 months, and legal services down 0.2 percent in October and up 6.3 percent over 12 months.

The index for stage 1 intermediate demand rose 0.6 percent in October after advancing 2.2 percent in September. Services inputs increased 0.9 percent, and goods inputs moved up 0.3 percent. Advances in metals, minerals, and ores wholesaling; basic organic chemicals; carbon steel scrap; truck transportation of freight; jet fuel; and steel mill products outweighed declines in diesel fuel; corn; and securities brokerage, dealing, and investment advice. For the 12 months ended in October, stage 1 increased 13.9 percent, the largest 12-month rise since 15.6 percent in June 2022. Table 2 reports steel mill products, not seasonally adjusted, up 2.7 percent in October and 32.9 percent over 12 months.

How the official October CPI compares — and what it does not show

The official October CPI, USDL-26-1685, was released at 8:30 a.m. Eastern Time on November 10, three days before the PPI. The CPI for All Urban Consumers increased 0.4 percent seasonally adjusted in October after rising 0.6 percent in September. The food index increased 0.5 percent, as food at home rose 0.4 percent and food away from home increased 0.5 percent. The energy index increased 0.7 percent over the month following a 5.2 percent increase in September. The index for all items less food and energy rose 0.3 percent in October, as it did in September and August. The shelter index rose 0.3 percent and accounted for over 30 percent of the monthly all-items increase, according to the official CPI narrative. Official CPI Table A also shows gasoline (all types) up 1.0 percent in October, electricity up 0.9 percent, utility piped gas service down 0.8 percent, new vehicles up 0.2 percent, used cars and trucks down 1.2 percent, transportation services up 0.8 percent, and medical care services up 0.3 percent, all seasonally adjusted except where Table A flags a series as not seasonally adjusted.

The CPI release includes a boxed official note that the Bureau did not collect survey data for October 2025 because of a lapse in appropriations, could not publish October 2025 indexes for most CPI series, and therefore cannot publish 12-month percent changes for October 2026 for indexes where October 2025 data are unavailable. Official CPI Table A prints a dash, not a number, in the unadjusted 12-month column for all items, food, energy, and all items less food and energy. A smaller set of series still carries a 12-month figure, including gasoline at 37.4 percent, new vehicles at 0.7 percent, and used cars and trucks at -3.3 percent. This article does not invent a headline CPI year-over-year rate. The official PPI, by contrast, does publish an unadjusted 12-month final-demand increase of 6.5 percent and a 10.2 percent 12-month increase for final demand goods. Those PPI 12-month figures should not be substituted for the missing CPI 12-month figures, because the two surveys measure different prices at different stages of the distribution chain.

Policy calendar, market color, and what this release does not decide

The official Federal Open Market Committee calendar, last updated November 12, 2026, lists the next scheduled meeting as December 8-9, 2026, a meeting associated with a Summary of Economic Projections. The same calendar lists a statement, an implementation note, and a press conference for the October 27-28 meeting, but it does not yet list minutes of that meeting as released. The official rule on that calendar page is that the minutes of regularly scheduled meetings are released three weeks after the date of the policy decision. This article does not invent a release clock time for those minutes and does not treat the December meeting as a completed decision. The Federal Reserve’s H.15 selected interest rates release dated November 13, 2026, still shows a daily effective federal funds rate of 3.88 percent on each displayed business day through November 12, with the bank prime loan rate at 7.00 percent and the discount window primary credit rate at 4.00 percent. The H.15 table’s daily columns end on November 12 and do not include a November 13 Treasury column.

The official U.S. Treasury daily par yield curve does publish a November 13 row. On that official table, the 10-year par yield was 5.15 percent on November 13, compared with 5.10 percent on November 12 and 4.98 percent on November 10, the CPI release date. Those closes are official Treasury figures, not H.15 prints for November 13, and they are not treated here as proof that the PPI “caused” the move. A fuller reading of the November 12 close is already in the earlier article on the 5.10 percent 10-year close. The CNBC report on the PPI said stock-market futures added to gains after the release while Treasury yields were mixed. That sentence is attributed market color from a secondary source, not an official exchange close, and this article does not invent equity or bitcoin prices.

This package also does not claim that the Federal Reserve will raise interest rates in December. A secondary news report discussed market pricing around the December meeting; market pricing is not a policy decision, and the December 8-9 meeting has not occurred. Crypto and other risk-asset readers who used the November 11 preview as a checklist can now replace that preview’s unanswered questions with the official cells above, rather than treating the preview itself as a results article. The preview remains available at the October PPI preview published after the hot CPI print, and it should be read as a pre-release guide, not as a substitute for USDL 26-1687.

What else the official release disclosed, and what comes next

October PPI figures are preliminary, marked (p) in the official tables. The Bureau’s Table 1 footnote states that all indexes are subject to revision for four months after their originally scheduled publication to incorporate late reports and corrections by survey respondents, and that seasonally adjusted indexes are subject to change for up to five years because of the recalculation of seasonal factors published each January. The same release says the Bureau will post recalculated relative-importance figures and seasonal adjustment factors on February 12, 2027, at 8:30 a.m. eastern time, in conjunction with PPI data for January 2027.

In a separate official note, the Bureau typically announces the value of quality changes associated with new-model-year passenger cars and light motor trucks with the October PPI. Quality changes are incorporated into PPI data as they occur. To protect respondent confidentiality, because of relatively few model updates for passenger cars in the PPI sample through October, the Bureau is not publishing information on passenger-car quality changes for the 2027 model year. For light trucks, the value of quality changes for a sample of 2027-model-year domestically produced light trucks included in the October PPI averaged $27.88, representing 5.7 percent of the average $492.58 increase in manufacturer invoice prices for 2027 models compared with models from the prior year. The retail equivalent value of those quality changes averaged $30.69, representing 5.9 percent of the average $522.01 over-the-year increase in manufacturer suggested list prices. The Bureau breaks the $30.69 estimated retail value into $2.80 for improvements to safety equipment and $27.89 for other changes such as improvements to powertrains, improvements to infotainment systems, and changes in levels of standard or optional equipment.

Effective with October 2026 data, the PPI also includes data for nine resampled industries classified according to the 2022 North American Industry Classification System: construction sand and gravel mining (212321); support activities for oil and gas operations (213112); meat processed from carcasses (311612); apparel accessories and other apparel manufacturing (315990); fertilizer, mixing only, manufacturing, including compost (325314); concrete pipe manufacturing (327332); motor vehicle and parts merchant wholesalers (423100); tire dealers (441340); and directory and mailing list publishers (513140). The Bureau points readers to the current issue of the PPI Detailed Report for index additions, deletions, and recodes.

The Producer Price Index news release for November 2026 is scheduled to be published on Tuesday, December 15, 2026, at 8:30 a.m. Eastern Time. That November report is unreleased and is not treated as a fact in this article. Until that date, the official October cells in USDL 26-1687, including the 0.3 percent monthly rise in final demand, the 6.5 percent 12-month rise, the 0.5 percent increase in final demand less foods, energy, and trade services, and the 14.6 percent 12-month increase in processed goods for intermediate demand, are the figures that replace the preview.

Frequently asked questions

What did the official October 2026 PPI show?

The Producer Price Index for final demand rose 0.3 percent in October, seasonally adjusted, after 1.4 percent in September and 0.4 percent in August, according to USDL 26-1687, embargoed until 8:30 a.m. Eastern Time on Friday, November 13, 2026. On an unadjusted basis, final demand increased 6.5 percent for the 12 months ended in October, the largest 12-month rise since 7.4 percent in November 2022.

What were the official goods and services splits?

Final demand goods increased 0.5 percent, and final demand services moved up 0.2 percent. Goods less foods and energy rose 0.5 percent and accounted for over 60 percent of the goods advance. Foods rose 1.3 percent, and energy edged down 0.1 percent. Services posted a fifth consecutive advance, with transportation and warehousing services up 2.0 percent and trade margins down 0.2 percent.

Is 0.3 percent or 0.5 percent the official “core” PPI?

The Bureau’s featured special grouping, final demand less foods, energy, and trade services, rose 0.5 percent in October and 4.9 percent over 12 months. A broader official grouping, final demand less foods and energy, rose 0.3 percent in October and 5.0 percent over 12 months. The two series are both official and are not the same. A CNBC report attributed a Dow Jones consensus of 0.4 percent for the headline and 0.3 percent for a measure stripping out food and energy; those forecasts are not Bureau figures.

How does this compare with the official October CPI?

The CPI-U rose 0.4 percent seasonally adjusted in October after 0.6 percent in September, with food up 0.5 percent, energy up 0.7 percent, and all items less food and energy up 0.3 percent. The Bureau could not publish most October 2026 12-month CPI percent changes because it did not collect October 2025 survey data during a lapse in appropriations. The PPI 12-month final-demand rate of 6.5 percent should not be used as a stand-in for a missing CPI year-over-year headline.

Does this article say the Federal Reserve will hike rates in December?

No. The next scheduled Federal Open Market Committee meeting is December 8-9, 2026, and that meeting has not occurred. Minutes of the October 27-28 meeting were not posted as released on the official calendar as last updated November 12, 2026. This article does not treat a rate change as a historical fact.

When is the next official PPI release?

The Bureau scheduled the Producer Price Index news release for November 2026 for Tuesday, December 15, 2026, at 8:30 a.m. Eastern Time. October data are preliminary and can be revised.

Where can readers place this print on a macro calendar?

The earlier guide on how to follow crypto trading around CPI, PPI, and FOMC dates explains the sequence of official releases. This article supplies the official October PPI results that the calendar was waiting for; it is not a second calendar and not a rewrite of the November 11 preview.

Sources and research limits

Primary sources are the official Bureau of Labor Statistics Producer Price Index news release for October 2026, USDL 26-1687, embargoed until 8:30 a.m. Eastern Time on Friday, November 13, 2026, including the narrative and official Tables A, B, C, and D, at https://www.bls.gov/news.release/ppi.nr0.htm and the full release at https://www.bls.gov/news.release/ppi.htm; official Table 1 at https://www.bls.gov/news.release/ppi.t01.htm; official Table 2 at https://www.bls.gov/news.release/ppi.t02.htm; and official Table 3 at https://www.bls.gov/news.release/ppi.t03.htm. Official CPI comparisons use USDL-26-1685, embargoed until 8:30 a.m. Eastern Time on Tuesday, November 10, 2026, at https://www.bls.gov/news.release/cpi.nr0.htm. The Federal Open Market Committee calendar, last updated November 12, 2026, is at https://www.federalreserve.gov/monetarypolicy/fomccalendars.htm. The H.15 release dated November 13, 2026, is at https://www.federalreserve.gov/releases/h15/. Official November 13 Treasury par yields are from the U.S. Treasury daily par yield curve, 2026 table, at the Treasury daily par yield curve for 2026. Dow Jones consensus figures and the sentence on futures and mixed Treasury yields are attributed solely to the CNBC report at https://www.cnbc.com/2026/11/13/ppi-inflation-report-october-2026.html and are not official Bureau numbers.

This article does not invent missing Table 2 percent changes for series named only in the narrative, does not invent a headline CPI 12-month percent change, does not treat the November 2026 PPI as released, does not invent an H.15 November 13 Treasury column, does not treat Federal Open Market Committee minutes of the October 27-28 meeting as posted, and does not claim that the December 8-9 policy meeting has produced a rate decision. Weight additions and one 0.001 rounding difference among official Table 1 service weights are labeled as calculations from official cells. No bitcoin, ether, or equity closing prices are used here, because this article does not substitute third-party market prints for official sources. The piece is not investment advice.