Since 2017, this index has followed the hot rolled steel price index in the same month and moved about a third as far as it over a year.
Over the 12 months to Sep 2026, the hot rolled steel price index rose 15.0% and this index rose 11.2%.
Key figures
Since Jan 2017
+83.4%
223.5 to 410.0
12-month volatility
±2.2%
std. dev. of monthly change
Largest monthly rise
+8.3%
Mar 2026
10% cap would bind
7 of 36
months, annual base reset
From Jan 2017 to Sep 2026 the index went from 223.5 to 410.0, a change of +83.4%.
Highest reading in that period: 410.0 in Sep 2026. Lowest: 223.5 in Jan 2017.
Largest one-month rise: +8.3% in Mar 2026. Largest one-month fall: -4.2% in Jan 2023.
For a clause that resets its base every year, a 10% cap or floor would have limited the adjustment in 7 of the last 36 months.
Use it in a contract
Draft clause citing this series
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 — Other Fabricated Wire Product Manufacturing (BLS series PCU332618332618), published by BLS.
Base Period: the index value published for September 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.]
Covers wire mesh, fencing, and similar fabricated wire goods, a narrow line most relevant to site fencing or reinforcement mesh in a construction contract.
Divide the current value of BLS series WPU1074051 (Fabricated Steel Bar Joists and Concrete Reinforcing Bars) by its value at contract signing, then apply that ratio to the rebar part of the price. A usable clause also names an averaging window, a rule for revised values and missing months, and a cap.
Let Escalake run this clause for you
Escalake tracks US PPI — Other Fabricated Wire Product Manufacturing, applies your formula, and gives both sides a number they can confirm, no spreadsheet required.