Producer Price Index (All Commodities): 261.5 in Jan 2026
The ppi all commodities moved to 261.5 in Jan 2026, up 0.70 from 260.8 in Dec 2025. Year-over-year, the reading is up 4.16 from 257.4.
PPI All Commodities - Historical Chart
Producer Price Index by Commodity: All Commodities. Gray shaded areas indicate U.S. recessions.
Source: Federal Reserve Bank of St. Louis (FRED), Series PPIACO. Shaded areas = NBER recession dates. Updated 2026-03-10.
What the Jan 2026 Data Shows
At 261.5, the ppi all commodities in Jan 2026 is above the 10-year average of 224.4 by 37.12. The reading has been mixed recently, fluctuating without a clear directional trend over the past 6 months.
The Producer Price Index for All Commodities (FRED series PPIACO) measures price changes at the wholesale level before they reach retail. It covers raw materials (crude oil, metals, agricultural products), intermediate goods (chemicals, plastics, components), and finished goods ready for sale.
PPI is a leading indicator: it shows where CPI is headed. When producers pay more for inputs, those costs eventually show up in consumer prices. The lag varies by industry -- commodity-heavy sectors pass through quickly, while service sectors absorb costs longer before raising prices.
Monthly data from BLS, seasonally adjusted. Base period is 1982 = 100.
What This Metric Measures
This page tracks the average change over time in selling prices received by domestic producers for their output, covering all commodities including crude materials, intermediate goods, and finished goods. The data comes from the Federal Reserve Bank of St. Louis FRED database, series PPIACO, updated monthly.
Historical Context
The all-time peak was 280.2 in Jun 2022 — roughly 1.1x the current level. The all-time trough was 10.3 in Feb 1933. During COVID-19 in 2020, the reading hit 200.5 (Dec 2020). Year-over-year, the metric has moved 1.6%.
Why It Matters
PPI is your early warning system. If PPI is rising while your customers resist price increases, your margins are about to compress. If PPI is falling while your prices hold steady, margins will expand. Watching PPI gives you a 1-3 month head start on pricing decisions compared to waiting for CPI or your own invoice costs to change.
What This Means for Business Owners
Understanding where this metric stands relative to historical norms helps business owners make better borrowing decisions. Metrics far from their 10-year average often signal turning points that affect the cost and availability of credit.
Producer Price Index (All Commodities) - Frequently Asked Questions
The PPI for all commodities is 261.52 as of Jan 2026, per FRED series PPIACO. It measures wholesale price changes across all commodities before they reach consumers. Base period: 1982 = 100.
PPI leads CPI by 1-6 months. Producer cost increases flow through to consumer prices as businesses pass along higher input costs. The pass-through is not one-to-one because businesses absorb some costs and productivity gains offset others.
Energy prices (crude oil, natural gas) are the biggest driver. Metal prices, agricultural commodity prices, and chemical/plastics costs also have significant impact. Supply chain disruptions (port closures, semiconductor shortages) create temporary PPI spikes.
PPI tells you what is happening to your suppliers' costs. If PPI is rising, expect your input costs to rise soon. If you cannot pass costs to customers, your margins will shrink. PPI gives you a head start on pricing and inventory decisions.
PPI measures prices received by producers (wholesale/factory gate). CPI measures prices paid by consumers (retail). PPI includes industrial and agricultural commodities not in CPI. CPI includes services like rent and healthcare that are not in the commodity-based PPI.
FRED series PPIACO from the Bureau of Labor Statistics. Monthly, based on price surveys of approximately 25,000 establishments providing about 100,000 price quotations. Available since 1913.
Related Data & Guides
Data sourced from the Federal Reserve Economic Data (FRED) maintained by the Federal Reserve Bank of St. Louis. Updated monthly when new data is released.