Producer Price Index for the entire food manufacturing industry sub-sector, a PCU index priced at the plant gate across processed and packaged food production, distinct from WPU01 (Farm Products), which prices the unprocessed crop or livestock. Index base: December 1984 = 100.
Latest value
273.028
Index · as of Aug 2026
Year-over-year change
-0.6%
BLS
Month-over-month change
-0.2%
Latest value is 1 month old. Next update expected around Sep 2026.
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Price history
Data & insights
Key figures
From Jan 2024 to Aug 2026 the index went from 251.9 to 273.0, a change of +8.4%.
Highest reading in that period: 274.9 in Jun 2026. Lowest: 251.9 in Jan 2024.
Largest one-month rise: +1.1% in Feb 2025. Largest one-month fall: -1.7% in Oct 2025.
The year-over-year change stayed within 10% either way in each of the last 20 months, so a 10% annual cap or floor would not have been reached.
Volatility (12mo)
±0.69%
Std. dev. of month-over-month change
Strongest average month-over-month move historically: October (-1.0% avg).
What this means for your clause
Used as a general escalator in packaged food supply and co-manufacturing agreements that blend many ingredient inputs rather than one single raw ingredient. It is priced at the manufacturing plant gate, so it already reflects some raw ingredient cost pass-through, and pairing it with a raw-material index in the same clause can double-count that movement.
Draft a clause
A starting point citing this series by name and code. Replace the bracketed terms with your contract's actual scope before use.
The [affected portion] of the Contract Price shall be adjusted using US PPI — Food Manufacturing (BLS series PCU311---311---), published by BLS.
Base Period: the index value published for August 2026 (or the month of contract signing, if different) is the Base Value.
Adjustment: at each Adjustment Date, the Current Value is the most recently published three-month average of the index (the Averaging Window). The Escalation Factor equals Current Value divided by Base Value.
Cap: the Escalation Factor applied under this clause shall not exceed 1.10 or fall below 0.90 (a 10% cap and floor) in any single Adjustment Date, regardless of the index's actual movement.
[Replace bracketed terms with your contract's actual affected-portion definition and adjustment-date schedule before use. This is a drafting starting point, not legal advice.]
A food or agricultural escalation clause compares a current-period Producer Price Index value to the value at contract signing (the base period), turns that into a ratio, then applies the ratio to the contract price. BLS splits raw farm commodities (Farm Products, WPU01) from processed food inputs (Processed Foods and Feeds, WPU02); picking the wrong one indexes the contract to the wrong stage of the supply chain, and the series is unusually seasonal, which makes base-period selection especially important.
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