From Jan 2017 to Sep 2026 the index went from 115.7 to 125.2, a change of +8.2%.
Highest reading in that period: 224.2 in May 2022. Lowest: 79.3 in Apr 2020.
Largest one-month rise: +14.0% in Jun 2018. Largest one-month fall: -23.8% in Jul 2022.
For a clause that resets its base every year, a 10% cap or floor would have limited the adjustment in 20 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 — Raw Cotton (BLS series WPU015), 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.]
An agricultural commodity series more than an industrial input, relevant to a textile or apparel manufacturing contract that buys raw fiber rather than finished cloth.
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.
Let Escalake run this clause for you
Escalake tracks US PPI — Raw Cotton, applies your formula, and gives both sides a number they can confirm, no spreadsheet required.