U.S. Producer Price Index (PPI) Forecast
U.S. Producer Price Index (PPI) Forecast Summary
The U.S. Producer Price Index for all commodities is projected to rise from 301.4 in October 2026 to a forecast high of 306.9 in January 2027.
The index then declines to 291.4 in April 2027, the lowest projected level in the published eight-month forecast, before recovering to 292.6 in May. The May projection is 8.8 index points below the October projection.
See the monthly forecast and average error estimates, trend chart, downloadable historical and forecast data and forecast methodology.
Values are index levels for all commodities, with 1982 = 100. The series is not seasonally adjusted.
Producer Price Index Forecast Values by Month
Producer Price Index for all commodities. 1982 = 100. Not seasonally adjusted.
| Month | Date | Forecast Value | Avg Error |
|---|---|---|---|
| 0 | Sep 2026 | 295.7 | ±0.0 |
| 1 | Oct 2026 | 301.4 | ±0.5 |
| 2 | Nov 2026 | 305.2 | ±0.7 |
| 3 | Dec 2026 | 306.3 | ±0.8 |
| 4 | Jan 2027 | 306.9 | ±0.8 |
| 5 | Feb 2027 | 301.1 | ±0.9 |
| 6 | Mar 2027 | 293.9 | ±0.9 |
| 7 | Apr 2027 | 291.4 | ±0.9 |
| 8 | May 2027 | 292.6 | ±1.0 |
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Producer Price Index Trend Chart with Forecast
All commodities. 1982 = 100. Not seasonally adjusted. Includes historical and forecast values.
What Influences the Producer Price Index?
The primary cause of the PPI is crude oil prices, both WTI and Brent. As the price of crude oil goes up, the PPI will go up.
Another cause is the price of natural gas (Henry Hub). As the price of natural gas goes up, the PPI will go up.
The Canadian Dollar, Australian Dollar and Singapore Dollar also figure heavily in the causation of the PPI. As the AUD, CAD and SGD strengthen versus the U.S. dollar, the PPI will go up. One of the reasons these currencies are causes of the PPI is because they also figure heavily in the causation of crude oil prices.
Related Producer Price Forecasts and Data
| November 11, 2026 | |
| Indicator | Value |
|---|---|
| S&P 500 | 7619.38 |
| U.S. GDP Growth, YoY % | 2.07 |
| U.S. Inflation Rate, % | 3.94 |
| Gold Price, $/oz-t | 3987.00 |
| Crude Oil Futures, $/bbl | 86.46 |
| U.S. 10 Year Treasury, % | 4.98 |