Producer Price Index - Final Demand (PPI-FD) for MAY 2026

Here is the Producer Price Index - Final Demand (PPI-FD) for MAY, 2026:

===============================
Previous Month (revised): +1.1%

• Actual: +1.1%

Change from 12 months previous:  +6.5% 
(prior - unrevised = +6.0%)

===============================

Below is the PPI-FD when Food, Energy and Trade Services are removed:

Previous Month (unrevised): +0.6% 

• Actual: +0.8%

Change from 12 months previous:  +5.1% 
(prior - unrevised = +4.4%)

===============================

• PPI-FD Goods, Year-on-Year: +10.4% (prior = +7.4%)

• PPI-FD Services, Year-on-Year: +4.9% (prior = +5.5%)

 

The above, yellow-highlighted percentages represent the month-to-month change in prices received by domestic producers of goods and services, for goods, services and construction in the United States, for final demand.

Final Demand = personal consumption (consumers), exports, government purchases and capital investment.
 
==============

CHART: Producer Price Index

  Final Demand (PPI-FD)
12-Month Percent Change
MAY 2026 Update

==============

• Click here to view the full Labor Department report.

============== 

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Crude Oil Inventories Report for Week Ending June 5, 2026

Crude Oil Inventories

The U.S. Crude Oil Inventories report for the week that ended on June 5, 2026 was released this morning:

-- Δ from Last Week: -15,100,000 Barrels (-1.9%)

-- Δ from 1-Year Previous: -58,800,000 Barrels (-7.05%)

-- Current U.S. Crude Oil Stocks: 775,700,000 Barrels

• NB: Δ = Change

Diminishing crude oil inventories often translate to higher crude oil and fuel prices (and vice versa), but not always.

The report is produced by the U.S. Energy Information Administration (EIA).

• Click Here for the Weekly Crude Oil Price
  
  

• Click Here for A Crude Oil Price Chart
  
  
• Click Here for the FULL (Extended) Weekly Petroleum Status Report
  
  
• Click Here for the Weekly Petroleum Status Report DATA OVERVIEW
  
  
• Click Here for the Weekly Petroleum Status Report HIGHLIGHTS

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Consumer Price Index (CPI) for MAY 2026

Earlier this morning, the Labor Department's Bureau of Labor Statistics released the Consumer Price Index (CPI) for May, 2026:

=========================================

CPI During May, 2026: 335.123

=========================================

Consumer Price Index (CPI); Headline

Predicted: +0.5%

->  Actual: +0.63 (+2.103 points)

• Year-on-Year Change: +4.25% (+13.658 points)

[Y-o-Y previous = +3.81%]

=========================================

CPI, Minus Food + Energy (Core CPI)

Predicted: +0.3%

 - > Actual: +0.31% (+1.043 points)

• Year-on-Year Change: +2.85% (+9.337 points)

[Y-o-Y previous = +2.75%]

=========================================

The above, yellow- and blue-highlighted figures represent month-to-month and year-on-year changes (not seasonally adjusted) in prices for a specific group of goods and services that consumers buy, and is, therefore, a very important part of the overall inflation picture for the country.

The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

General categories that constitute the CPI are:

• Healthcare
• Housing
• Clothing
• Communications
• Education
• Transportation
• Food and Beverages
• Recreation
• Miscellaneous Goods and Services (grooming expenses, etc.)

========================================

CPI During May, 2025: 321.465

=======================================

CHART: Consumer Price Index

12-Month Percentage Change
MAY 2026 Update

========================================

• Click here to view the full Labor Department report.
  

========================================

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NFIB Small Business Optimism Index (SBOI) for MAY 2026

The National Federation of Independent Business® (NFIB®) released its Small Business Optimism Index (SBOI) for May, 2026:
=========

Predicted: 95.0

• Actual: 95.3

----------------

• Change from Previous Month: -0.63% (-0.6 point.)

• Change from A Year Ago: -3.54% (-3.5 points.)

=========

CHART: NFIB Small Business Optimism Index

MAY 2026 Update 

=========

• The baseline "100" score is associated with 1986 survey data.
  

=========

 

From the Report:

 

"...CREDIT MARKETS

In May, the net percent of owners expecting easier credit conditions rose 1 point to a net -3% (seasonally adjusted). A net 4% reported their last loan was harder to get than in previous attempts, up 1 point from April. In May, a net 6% of owners reported paying a higher interest rate on their most recent loan, up 4 points from April. The average interest rate paid on short-maturity loans was 7.8% in May, down 0.5 points from April. Twenty-seven percent of all owners reported borrowing regularly, up 5 points from April’s lowest level since November 2021.

INFLATION

In May, reports of both actual and planned price increases rose significantly. The net percent of owners raising average selling prices rose 6 points from April to a net 36% (seasonally adjusted), marking the highest reading since March 2023. Actual price increases are well above the historical average of net 13%. Unadjusted, 46% reported higher average prices (up 5 points), and 7% reported lower average selling prices (down 1 point). Looking forward to the next three months, a net 34% (seasonally adjusted) plan to increase prices, up 7 points from April and marking the highest reading since July 2022. Reports of inflation as the single most important problem rose for the third consecutive month in May. Eighteen percent of business owners cited inflation as their single most important business problem, up 2 points from April and marking the highest reading since December 2024. Inflation ranks as the second top problem..."

=========

• Previous Month's SBOI: 95.9

• SBOI, 12-Months Previous: 98.8

=========

• Click here to view the full NFIB report

=========

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Crude Oil Inventories Report for Week Ending May 29, 2026

Crude Oil Inventories

The U.S. Crude Oil Inventories report for the week that ended on May 29, 2026 was released this morning:

-- Δ from Last Week: -16,000,000 Barrels (-1.98%)

-- Δ from 1-Year Previous: -47,100,000 Barrels (-5.62%)

-- Current U.S. Crude Oil Stocks: 790,800,000 Barrels

• NB: Δ = Change

Diminishing crude oil inventories often translate to higher crude oil and fuel prices (and vice versa), but not always.

The report is produced by the U.S. Energy Information Administration (EIA).

• Click Here for the Weekly Crude Oil Price
  
  

• Click Here for A Crude Oil Price Chart
  
  
• Click Here for the FULL (Extended) Weekly Petroleum Status Report
  
  
• Click Here for the Weekly Petroleum Status Report DATA OVERVIEW
  
  
• Click Here for the Weekly Petroleum Status Report HIGHLIGHTS

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ISM Manufacturing Index for MAY 2026

The Institute for Supply Management® (ISM®) released their Manufacturing Purchasing Manager's Index (PMI®) for May, 2026:

=========

Predicted: 54.0%

• Actual: 54.0% (+1.3 points month-on-month)

=========

Previous month: 52.7%

=========

Every month, the ISM surveys purchasing and supply executives at hundreds of companies across the country who are involved in manufacturing in some form. The resulting index is watched closely by academics, economists and investors because manufacturing accounts for about 12% of U.S. Gross Domestic Product (GDP).

The PMI is a reliable barometer of U.S. manufacturing: A PMI above 50% implies that U.S. manufacturing expanded during the month specified, while a reading below 50% implies that the made-in-the-USA sector contracted.

=========

From Today's Report:

"...Economic activity in the manufacturing sector expanded in May for the fifth consecutive month, say the nation’s supply executives in the latest ISM® Manufacturing PMI® Report..."

=========

The Following Is A Sampling Of Quotes
From A Diverse Pool Of U.S. Manufacturers:

• “Continued dynamic random-access memory (DRAM) volatility, increased gas prices and tariffs are causing long lead constraints and price hikes that customers are not willing to bear. Panic is starting within our industry.”
   [Electrical Equipment, Appliances + Components] 

• “Impact of Iran invasion starting to directly and negatively impact cost of supply chain. Oil and related commodities are escalating in price.”
   [Transportation Equipment] 

• “The Middle East conflict is triggering shipment delays and uncertainties. Elevated gas prices and inflation will surely impact our purchases. However, over the last quarter, we’ve seen increased demand that was unexpected.”
   [Machinery] 

• “As with all companies, we have felt the effects of fuel-related inflation and general market uncertainty due to overall economic variability and geopolitical events that have impacted such markets as construction, automotive and agriculture, as well as the general industrial sector.”
   [Chemical Products] 

• “Continuing trends of 15-percent sales increase in April, cost increases on a majority of raw materials, and fuel charges on many inbound and outbound deliveries. We remain cautiously optimistic that if global economic factors stabilize and the Iran invasion ends, we can continue with increased sales and maintain acceptable margins.”
   [Chemical Products] 

• “Cost of diesel is having huge impacts on our profitability. Confusion abounds around tariff refunds. We purchase many imported goods but in most cases are not the importer of record, so it is currently unclear to what we may be entitled.”
   [Food, Beverage + Tobacco Products] 

• “Prices continue to rise for many products -- some due to increase in data center creation for electronic components, others as a result of the Iran invasion and reductions in availability of oil/petroleum.”
   [Computer + Electronic Products] 

• “Supply constraints continue to propagate and are a key headwind to supporting increased aerospace and defense demand. Semiconductors, critical minerals and certain types of raw materials are illustrative examples of sales plans at risk. Corporate risk mitigation actions are underway to secure supply in the midst of constraints.”
   [Transportation Equipment] 

• “The current atmosphere is one of extreme uncertainty and concern for the future in terms of both price stability and longer-term supply continuity related to the  Iran invasion and Strait of Hormuz closure. We have a lot of negotiations in process related to requested price increases, some related to oil prices and some still fallout from the 2025 tariff/geopolitical climate.”
   [Miscellaneous Manufacturing] 

• “Business appears to be weakening -- uncertainty surrounding the Iran invasion, rising energy prices and customers unwilling to commit to expenditures beyond a very short term.”
   [Fabricated Metal Products]
  

==========

CHART: ISM Manufacturing Index

MAY 2026 Update

=========

DATA: ISM Manufacturing Index

12-Month History
MAY 2026 Update

=========

=========

• Click here to view the complete ISM report

=========

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Crude Oil Inventories Report for Week Ending May 22, 2026

Crude Oil Inventories

The U.S. Crude Oil Inventories report for the week that ended on May 22, 2026 was released this morning:

-- Δ from Last Week: -12,400,000 Barrels (-1.51%)

-- Δ from 1-Year Previous: -34,900,000 Barrels (-4.15%)

-- Current U.S. Crude Oil Stocks: 806,800,000 Barrels

• NB: Δ = Change

Diminishing crude oil inventories often translate to higher crude oil and fuel prices (and vice versa), but not always.

The report is produced by the U.S. Energy Information Administration (EIA).

• Click Here for the Weekly Crude Oil Price
  
  

• Click Here for A Crude Oil Price Chart
  
  
• Click Here for the FULL (Extended) Weekly Petroleum Status Report
  
  
• Click Here for the Weekly Petroleum Status Report DATA OVERVIEW
  
  
• Click Here for the Weekly Petroleum Status Report HIGHLIGHTS

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PCE Price Index + Personal Income + Consumer Spending Report for APRIL 2026

The Commerce Department's Bureau of Economic Analysis (BEA) released its report on The PCE Price Index, Consumer Spending and Personal Income for April, 2026:

=============

Consumer Spending (Personal Consumption Expenditures [PCE])

Previous Reading (revised): +1.0%

• Actual: +0.5%
  
  
• > Real PCE: +0.1%*

=============

Personal Income

Previous Reading (revised): +0.5%

• Actual: FLAT
  
  
• > Disposable Personal Income (DPI): -0.1% 
  
  
• >> Real DPI: -0.5%* 

=============

The above highlighted percentages represent the month-to-month change in Consumer Spending (aka Personal Consumption Expenditures), Personal Income and Disposable Personal Income for the entire United States.

 

Personal Consumption Expenditures (PCE) Price Index
Previous Reading (unrevised): +0.7%

• Actual: +0.4% 

• Change from 12-months previous: +3.8%
  (prior - unrevised = +3.5%)

=====================

Core PCE Price Index
( = PCE Price Index minus food and energy)
Previous Reading (unrevised): +0.3%

• Actual: +0.2%

• Change from 12-months previous: +3.3%
  (prior - unrevised = +3.2%)

=====================

The PCE Price Index is different from the Consumer Price Index (CPI) in that it is a very broad measure of the prices associated with domestic products and services, while the CPI measures a more limited fixed basket of goods and services.

The broad nature of the PCE Price Index is key to why it is the Federal Reserve's preferred measure of inflation.  The Federal Open Market Committee (FOMC) pays very close attention to it.

=====================

 

CHART: Changes In Monthly Consumer Spending
APRIL 2026 UPDATE

=====================

 Click here to view the full
Commerce Department report (PDF). 

=====================

* =  Chained dollars is a method of adjusting real dollar amounts for inflation over time, so as to allow comparison of figures from different years. The Commerce Department introduced the chained-dollar measure in 1996. Chained dollars generally reflect dollar figures computed with 2012 as the base year.

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Leading Economic Index for APRIL 2026

The Conference Board® released its Leading Economic Index® (LEI) for April, 2026:

==============

Index for April, 2026: 97.4 (The baseline 100 score is associated with 2016 data.)

==============

• Actual: +0.1% (+0.1 point Month-on-Month)
  
  
• Change from 12 Months Ago: -1.72% (-1.7 points)

============== 

• LEI for March, 2026: 97.3
  
  
• LEI for February, 2026: 97.9
  
  
• LEI for January, 2026: 97.6
      
• LEI for December, 2025: 97.6   
  
  
• LEI for November, 2025: 97.9  
  
  
• LEI for October, 2025: 98.1
   
• LEI for September, 2025: 98.3 
   
• LEI for August, 2025: 98.5 
  
  
• LEI for July, 2025: 98.8
  
  
• LEI for June, 2025: 98.8
  
  
• LEI for May, 2025: 99.1
   
• LEI for April, 2025: 99.1
  
  
• LEI for March, 2025: 100.4
  
  
• LEI for February, 2025: 101.2
  
  
• LEI for January, 2025: 101.4
  
  
• LEI for December, 2024: 101.6
  
  

==============

The yellow-highlighted percentage is the month-to-month change for the index.  The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

The LEI is a composite of 10 of the nation's economic data releases that's put together by The Conference Board. Statistically, the components listed below have shown a significant increase or decrease before national economic upturns or downturns:

1. The Standard + Poor's 500 Index
   
   
2. Average weekly claims for unemployment insurance
   
   
3. Building permits for new private housing
   
   
4. The interest rate spread between the yield on the benchmark 10-Year Treasury Note and Federal Funds
   
   
5. ISM® Index of New Orders
   
   
6. Manufacturer's new orders for consumer goods or materials
   
   
7. Manufacturer's new orders, non-defense capital goods excluding aircraft orders
   
   
8. Average weekly manufacturing hours
   
   
9. Average consumer expectations for business conditions
   
   
10. Leading Credit Index™

==============

CHART: Leading Economic Index
6-Month Growth Rate
with Warning + Recession Signal
APRIL 2026 UPDATE

==============

 

From Today's Report:

"...'The US LEI increased slightly in April, driven mainly by a rebound in stock prices and an increase in building permits only for two and more units,' said Justyna Zabinska-La Monica, Senior Manager, Business Cycle Indicators, at The Conference Board.

'The leading index rose in two of the past three months, but the gains did not offset the steep fall registered in March. As a result, the LEI’s six- and twelve-month growth rates were negative, signaling fragile economic conditions ahead.

Strong investment in AI infrastructure, data centers, and energy production likely will have a positive impact on growth and sustain business spending, but may only partially offset weakness on the consumer side.

Higher gasoline and energy costs -- paired with weak hiring -- will likely erode household purchasing power in the months ahead, particularly for lower- and middle-income consumers. The Conference Board is currently projecting 1.7% y/y GDP growth in 2026, revised up slightly from last update of 1.6%.'..."

==============
 

• Click Here to view the Conference Board report.
  

==============

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Crude Oil Inventories Report for Week Ending May 15, 2026

Crude Oil Inventories

The U.S. Crude Oil Inventories report for the week that ended on May 15, 2026 was released this morning:

-- Δ from Last Week: -17,800,000 Barrels (-2.13%)

-- Δ from 1-Year Previous: -24,500,000 Barrels (-2.90%)

-- Current U.S. Crude Oil Stocks: 819,200,000 Barrels

• NB: Δ = Change

Diminishing crude oil inventories often translate to higher crude oil and fuel prices (and vice versa), but not always.

The report is produced by the U.S. Energy Information Administration (EIA).

• Click Here for the Weekly Crude Oil Price
  
  

• Click Here for A Crude Oil Price Chart
  
  
• Click Here for the FULL (Extended) Weekly Petroleum Status Report
  
  
• Click Here for the Weekly Petroleum Status Report DATA OVERVIEW
  
  
• Click Here for the Weekly Petroleum Status Report HIGHLIGHTS

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Import and Export Price Indexes for APRIL 2026

The Labor Department's Bureau of Labor Statistics released its report on U.S. Import and Export Price Indexes for April, 2026:

===============

Import Prices
Previous Reading, revised: +0.9%
Actual: +1.9%

• Change From 12 Months Previous: +4.2%

    -- Year-on-year previous reading = +2.1%

===============

Export Prices
Previous Reading, revised: +1.5%
Actual: +3.3%

• Change From 12 Months Previous: +8.8%

    -- Year-on-year previous reading = +5.6%

===============
 
The above percentages, highlighted in yellow, represent the month-to-month change in prices for:

• Imports: the cost of goods produced in other countries and sold in the United States.
• Exports: the cost of goods produced in the USA and sold in other countries.

Together, these indexes offer insight into the status of inflation in the United States, and for the global economy as well. The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.

=================

CHART: Import Price Index

APRIL 2026 Update

================= 

CHART: Export Price Index

APRIL 2026 Update

===============

• Click here to view the full Labor Department report.

===============

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Crude Oil Inventories Report for Week Ending May 8, 2026

Crude Oil Inventories

The U.S. Crude Oil Inventories report for the week that ended on May 8, 2026 was released this morning:

-- Δ from Last Week: -12,900,000 Barrels (-1.52%)

-- Δ from 1-Year Previous: -4,500,000 Barrels (-0.53%)

-- Current U.S. Crude Oil Stocks: 837,000,000 Barrels

• NB: Δ = Change

Diminishing crude oil inventories often translate to higher crude oil and fuel prices (and vice versa), but not always.

The report is produced by the U.S. Energy Information Administration (EIA).

• Click Here for the Weekly Crude Oil Price
  
  

• Click Here for A Crude Oil Price Chart
  
  
• Click Here for the FULL (Extended) Weekly Petroleum Status Report
  
  
• Click Here for the Weekly Petroleum Status Report DATA OVERVIEW
  
  
• Click Here for the Weekly Petroleum Status Report HIGHLIGHTS

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Producer Price Index - Final Demand (PPI-FD) for APRIL 2026

Here is the Producer Price Index - Final Demand (PPI-FD) for APRIL, 2026:

===============================
Previous Month (revised): +0.7%

• Actual: +1.4%

Change from 12 months previous:  +6.0% 
(prior - revised = +4.3%)

=============

Below is the PPI-FD when Food, Energy and Trade Services are removed:

Previous Month (unrevised): +0.2% 

• Actual: +0.6%

Change from 12 months previous:  +4.4% 
(prior - revised = +3.7%)

===============================

• PPI-FD Goods, Year-on-Year: +7.4% (prior = +4.9%)

• PPI-FD Services, Year-on-Year: +5.5% (prior = +3.7%)

 

The above, yellow-highlighted percentages represent the month-to-month change in prices received by domestic producers of goods and services, for goods, services and construction in the United States, for final demand.

Final Demand = personal consumption (consumers), exports, government purchases and capital investment.
 
==============

CHART: Producer Price Index

  Final Demand (PPI-FD)
12-Month Percent Change
APRIL 2026 Update

==============

• Click here to view the full Labor Department report.

============== 

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