From Dec 2016 to Sep 2026 the index went from 240.3 to 446.2, a change of +85.7%.
Highest reading in that period: 455.5 in Jul 2026. Lowest: 240.3 in Dec 2016.
Largest one-month rise: +10.0% in Jan 2025. Largest one-month fall: -4.7% in Feb 2024.
For a clause that resets its base every year, a 10% cap or floor would have limited the adjustment in 13 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 — Industrial Gases (BLS series WPU067903), 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.]
Used in supply contracts for welding, steelmaking and food freezing. It combines oxygen, nitrogen, argon, hydrogen and other gases, which the catalog also lists separately. Check whether the contract already passes power cost through before adding this index.
Divide the current value of BLS series WPU067903 (Industrial Gases) by its value at contract signing, then apply that ratio to the industrial gases 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 — Industrial Gases, applies your formula, and gives both sides a number they can confirm, no spreadsheet required.