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Data from U.S. Bureau of Labor Statistics. Forecasts by Sigmanomics Forecast Engine.
United StatesUS PPI climbed to 146.84 in December 2024
U.S. Bureau of Labor StatisticsMonthlyReleased January 2025
US PPI climbed to 146.84 in December 2024, released January 2025, up 0.32 from November's 146.52 reading. The reading matched expectations. PPI has now risen for 8 consecutive months. Over the past 3 months, PPI averaged 146.05, vs 144.9 in the prior 3-month window. PPI is now the highest in 9 months.
Latest Release
146.842
Actual
146.8
Consensus
146.521
Previous
Median Absolute Error
±0.3
across last 10 releases
Last Call
Jan 2025
Predicted: 147.03
Actual: 146.84
Error: +0.19
Sigmacast Σ-direction model: consensus + ½ × mean(surprise, trailing 90d).
CORRELATED SYMBOLS— markets that historically move with this indicator
| Symbol | Direction | Correlation | Asset Class | Co-movement | Action |
|---|---|---|---|---|---|
| USD/CAD | ▲ Direct | +0.67 | FOREX | Moves with | → View |
| AUD/USD | ▼ Inverse | −0.64 | FOREX | Moves against | → View |
| EUR/USD | ▼ Inverse | −0.58 | FOREX | Moves against | → View |
| USD/CHF | ▲ Direct | +0.47 | FOREX | Moves with | → View |
| NZD/USD | ▼ Inverse | −0.45 | FOREX | Moves against | → View |
Correlation based on 12-month rolling window. Click any symbol to view its Sigmanomics forecast page.
THE RELEASE
PPI (United States) was reported at 146.84 in January 2025. This beat the market consensus of 146.80 by 0.04. The reading rose from the previous value of 146.52. Trailing 12-month context per ETL data through August 2026. Over the past 12 months, the indicator has averaged 154.20 Index Nov 2009=100, ranging from 150.44 Index Nov 2009=100 to 157.41 Index Nov 2009=100 across 11 releases. This is classified as a high-impact indicator released on a monthly basis.
WHY IT MATTERS
The indicator has been trending upward over the last three releases. The trailing three releases averaged 156.93 Index Nov 2009=100, up from the prior three at 155.79 Index Nov 2009=100. Volatility over the past year (σ 2.57 Index Nov 2009=100) is higher than the prior year (σ 1.38 Index Nov 2009=100). In August readings over the past 3 years, PPI Final Demand has averaged 149.21 Index Nov 2009=100.
THE MODEL'S TAKE
Historically, this indicator is positively correlated with USD/CAD (Bullish USD). A secondary relationship exists with AUD/USD, negatively correlated (Bearish AUD). Over the last 10 releases, the Sigmacast model's median absolute error is 0.30 Index Nov 2009=100.
WHAT TO WATCH NEXT
Same-country events in the next 14 days include Housing Starts MoM (Sep 17) and Building Permits MoM (Sep 17).
Auto-generated from current model state · Refreshes on each release · Last update August 2026.
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PPI - US
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About PPI — United States
DEFINITION
US PPI Final Demand for July registered at 156.563, slightly below June’s 156.607, indicating a marginal decline in producer prices. This marks a subtle cooling after May’s peak at 157.001, maintaining a near-flat trend in inflation pressures. Market focus remains on upcoming CPI data and Federal Reserve policy signals amid steady price dynamics. Updated 8/14/26
WHY THIS INDICATOR MATTERS
Inflation prints feed directly into central-bank policy expectations and real-yield calculations, and are among the most rate-sensitive releases on the calendar. The release is more useful as part of a longer-run signal than as a single-print catalyst. Released monthly.
WHAT CHANGED THIS MONTH
Latest reading (Aug 2026): actual 157.4 Index Nov 2009=100. Prior reading (Jul 2026): 156.8 Index Nov 2009=100. Before that (Jun 2026): 156.6 Index Nov 2009=100.
WHAT'S NEXT
Sigmacast's 1-month forecast points to a similar reading versus the latest print, with the 3-month outlook reinforcing that direction. Both horizons are aligned bullish for this indicator, suggesting a consistent trend signal. Trend-driven dynamics are the primary tailwind in the current projection. This indicator correlates most strongly with USD/CAD (Bullish USD, r=0.67) — a useful reference for forex-focused traders.
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Economic Calendar - US Events
| Wednesday, September 16, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
|---|---|---|---|---|---|---|---|
| 12:30 | US | Retail Sales MoM | 1.2 | -0.5 | 0.8 | 1.00 | High |
| 12:30 | US | Retail Sales Ex Autos MoM | 1.4 | -0.2 | 0.5 | 0.95 | High |
| 12:30 | US | Import Prices YoY | 7 | 6.1 | 6.4 | 6.70 | Low |
| 12:30 | US | Retail Sales Ex Gas/Autos MoM | 1.2 | -0.3 | 0.2 | 0.70 | High |
| 12:30 | US | Retail Sales YoY | 6 | 5.03 | 4.7 | 5.35 | High |
| 12:30 | US | Export Prices MoM | 0.6 | -1.4 | 0.5 | 0.55 | Medium |
| 12:30 | US | Import Prices MoM | 0.7 | -0.3 | 0.4 | 0.55 | Medium |
| 12:30 | US | Export Prices YoY | 8.6 | 8.1 | 8.5 | 8.55 | Low |
| 14:00 | US | Business Inventories MoM | 0.8 | 0.1 | 0.3 | 0.55 | Medium |
| 14:00 | US | NAHB Housing Market Index | 32 | 35 | 34 | 33.00 | Medium |
| 14:00 | US | Retail Inventories Ex Autos MoM | 0.8 | -0.5 | 0.7 | 0.75 | Low |
| 14:30 | US | EIA Crude Oil Stocks Change | -0.64 | -0.391 | -1.6 | -1.12 | Medium |
| 14:30 | US | EIA Gasoline Stocks Change | 0.794 | 1.269 | -1 | -0.10 | Medium |
| 14:30 | US | EIA Distillate Stocks Change | 1.585 | 2.087 | 0.1 | 0.84 | Low |
| 16:00 | US | Atlanta Fed GDPNow | 5.1 | 4.4 | 4.4 | 4.75 | Medium |
| 18:00 | US | Fed Interest Rate Decision | 4 | 3.75 | 4 | 4.00 | High |
| 20:00 | US | Net Long-Term TIC Flows | -27.9 | 174.4 | 146.3 | 109.78 | Medium |
| Thursday, September 17, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 12:30 | US | Housing Starts MoM | -12.4 | 9 | 9.00 | Medium | |
| 12:30 | US | Building Permits MoM | 4.3 | -1.6 | -1.60 | Medium | |
| 12:30 | US | Building Permits | 1.433 | 1.41 | 1.41 | High | |
| 12:30 | US | Housing Starts | 1.239 | 1.31 | 1.31 | High | |
| 12:30 | US | Continuing Jobless Claims | 1774 | 1780 | 1785.00 | High | |
| 12:30 | US | Initial Jobless Claims | 206 | 208 | 208.50 | High | |
| 12:30 | US | Philadelphia Fed Manufacturing Index | 47.4 | 30.5 | 30.65 | Medium | |
| 12:30 | US | Jobless Claims 4-Week Average | 206 | 206 | 206.13 | High | |
| 14:00 | US | Pending Home Sales YoY | -2.2 | -0.7 | -0.70 | Medium | |
| 14:00 | US | Pending Home Sales MoM | -2.3 | 2 | 2.00 | Medium | |
| 14:30 | US | EIA Natural Gas Stocks Change | 40 | 49 | 48.00 | Low | |
| Friday, September 18, 2026 | Actual | Previous | Consensus | Sigmanomics Rolling-Surprise Forecast | Impact | ||
| 13:15 | US | Industrial Production MoM | 0.2 | 0.3 | 0.30 | Medium | |
| 13:15 | US | Capacity Utilization | 76.3 | 76.4 | 76.40 | Low | |
| 13:15 | US | Manufacturing Production MoM | 0.2 | 0.3 | 0.30 | Low | |
| 13:15 | US | Manufacturing Production YoY | 1.2 | 1.1 | 1.10 | Low | |
| 13:15 | US | Industrial Production YoY | 1.1 | 1 | 1.00 | Low | |
| 14:00 | US | Leading Index MoM | 0.2 | 0.1 | 0.10 | Low | |