U.S. producer prices rose 6.5% year over year in October, the biggest increase since 2022
Key Facts
U.S. producer prices rose 6.5% in the 12 months through October, the biggest annual increase since November 2022, according to the Associated Press, citing data released on November 13, 2026. The annual reading was above September’s 6.3%, underscoring continued price pressures at the producer level. But the pace of month-to-month increases eased sharply, with the index rising 0.3% from September to October after a 1.4% jump the previous month. The divergence between the annual and monthly rates puts October’s reading in the context of accelerating annual inflation and slower monthly momentum. The Bureau of Labor Statistics scheduled the October data release for November 13 at 08:30 a.m.
The Associated Press attributed the monthly slowdown to stable overall energy prices, which restrained the increase in wholesale prices during the month. Other components, however, showed higher transportation, food and production-input costs. Truck freight prices rose 3.9% in October, while food prices increased 1.3%. Electronic components prices also climbed 4.2%, and industrial chemical prices rose 3.1%. The agency said, "Wholesale inflation cooled considerably because overall energy prices stabilized," indicating that the easing in the monthly index coincided with varied pressures across cost categories.
Excluding food and energy, core producer prices rose 0.3% month over month in October, compared with a 0.7% increase in September. On an annual basis, core prices rose 5% in October, the same rate recorded in September. This means the monthly slowdown was not limited to the overall index, while the annual core rate remained steady at September’s level. For comparison, annual wholesale inflation was 3.1% in October 2025, according to the Associated Press. October 2026’s reading was therefore above its level a year earlier, despite a slower monthly increase than September’s jump.
In markets, the S&P 500 fell 0.4% on Friday, November 13, and the Nasdaq Composite lost 0.9%, while the Dow Jones rose 0.1%. Technology stocks weighed most heavily on the market, with Nvidia down 2%, Broadcom down 4.8% and Advanced Micro Devices down 8.8%. The Associated Press said more than 60% of S&P 500 constituents rose, despite the impact of technology stocks linked to artificial intelligence. The 10-year U.S. Treasury yield rose to 5.15% from 5.10% late Thursday, while the two-year yield climbed to 4.87% from 4.86%. Despite the session’s declines, the S&P 500 posted a weekly gain of 2.5%, its first positive week since October and its biggest weekly gain since August; the Nasdaq also recorded its first weekly gain in five weeks.
Energy prices remained an important backdrop to producer costs. Brent crude was steady at $95.84 a barrel on November 13, compared with about $72 in late February, before the war in Iran began, according to the Associated Press. Against the backdrop of inflation monitored by the Federal Reserve, economists at Morgan Stanley estimated that the core personal consumption expenditures index, the central bank’s preferred inflation gauge, rose 0.3% from September to October. They estimated its annual increase at 3.2% in October, compared with 3.1% in September. These are estimates for the index due later in the month, not a published reading of October data.
Attention now turns to the next producer-price release. The Bureau of Labor Statistics schedule lists the November 2026 data for release on December 15 at 08:30 a.m. The next reading will provide a new monthly comparison following October’s 0.3% increase, which came after a 1.4% rise in September. On monetary policy, the Associated Press reported that economists widely expected a rate increase at the December meeting, with another increase in January 2027 considered likely. Those expectations are attributed to the agency, while the next producer data release is due in mid-December.