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US PPI — Industrial Gases

Producer Price Index for industrial gases, a WPU commodity index in the chemicals and allied products group.

446.183−0.5% m/m+5.3% y/y+49.7% 5y

Sep 2026 value · Next print expected around Nov 2026 · Source: BLS

Price history

Sep 2026 · latest446.183+49.7%since Sep 2021
25030035040045050020222023202420252026446.2
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Range
Format

Preview13 rows, newest first. Click a value to copy it.
MonthValueChange m/m
Sep 2026−0.5%
Aug 2026−1.5%
Jul 2026+2.2%
Jun 2026+1.0%
May 2026+1.7%
Apr 2026−2.2%
Mar 2026+0.2%
Feb 2026−1.8%
Jan 2026+5.4%
Dec 2025+4.0%
Nov 2025+1.1%
Oct 2025−3.9%
Sep 2025−1.9%

Same numbers as the chart, straight from BLS. Dates are the first of each period, the way BLS reports them.

How it's built

Industrial gases rose 5.3% over the last 12 months, more than any of its main inputs. Input costs are not adding pressure right now.

Chemicals and allied productsOther chemicals and allied productsMisc. chemical prod. and preparations

WPU067903Industrial Gases446.183Sep 2026 · +5.3% over 12 months

Key figures

Since Dec 2016
+85.7%
240.3 to 446.2
12-month volatility
±2.6%
std. dev. of monthly change
Largest monthly rise
+10.0%
Jan 2025
10% cap would bind
13 of 36
months, annual base reset
  • 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.]
Why contracts cite this index

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.

How this index is used (1 guide)

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