Industrial Product Price Index: Flash estimates, September 2020
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Released: 2020-10-09
According to flash estimates, the Industrial Product Price Index (IPPI) was flat month over month in September, following a 0.3% gain in August. Excluding energy and petroleum products, the IPPI rose 0.3%. Flash estimates are preliminary and should be used with caution; official September 2020 IPPI estimates will be released on October 30, 2020.
Prices for energy and petroleum products fell 3.1%, led by decreases in prices for refined petroleum products, including light fuel oils (-6.2%), diesel fuel (-5.7%), motor gasoline (-1.7%) and jet fuel (-5.6%). These declines coincided with lower crude oil prices (-6.9%) in September.
Prices for lumber and other wood products increased 5.7% month over month and were up 15.0% year over year. Notably, softwood lumber prices (+14.6%) had their fourth consecutive monthly increase.
Prices for meat, fish and dairy products increased 1.7%, mostly because of higher prices for fresh and frozen pork (+7.9%).
Prices for fruit, vegetables, feed and other food products rose 0.9%, mostly because of increases in the price of canola oil (+8.9%).
Prices for primary non-ferrous metals were down 0.3%. Following a string of monthly increases beginning in April 2020, prices for unwrought silver and silver alloys decreased 4.6% in September. In spite of the decline observed this month, the price of silver was 41.7% higher than in September 2019. Prices for unwrought gold and gold alloys (-2.5%) were also down.
Chart 1
Industrial Product Price Index (January 2018 to September 2020)
Chart 2
Softwood lumber (January 2018 to September 2020)
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