The Industrial Product Price Index (IPPI) declined 0.3% in September, mainly due to lower prices for motorized and recreational vehicles and meat, fish, and dairy products. Higher prices for energy and petroleum products mostly offset the declines observed elsewhere.
The Raw Materials Price Index (RMPI) edged down 0.1%, primarily due to lower prices for animals and animal products. Higher prices for crude energy products mostly offset the decline.
The IPPI was down 0.3% in September, following a 0.4% increase in August. Of the 21 major commodity groups, 16 were down, 4 were up and 1 was unchanged.
Among the four major commodity groups that saw higher prices in September, energy and petroleum products (+4.4%) posted the largest increase. This growth was primarily due to higher prices for motor gasoline (+3.8%), light fuel oil (+5.7%) and diesel fuel (+4.8%). This was the largest increase for energy and petroleum products since December 2016, when prices rose 5.5%. The IPPI excluding energy and petroleum products decreased 0.9%.