The Producer Price Index measures the average change over time in the selling prices received by domestic producers for their output, capturing price changes from the seller's perspective before they reach the retail consumer. Compiled monthly in the United States by the Bureau of Labor Statistics since 1902 (originally called the Wholesale Price Index until its 1978 renaming), the PPI covers virtually the entire output of US goods-producing industries plus a large and growing portion of services, utilities and construction, organized by industry, commodity and, since the mid-2010s, a final-demand/intermediate-demand structure. Because producer price changes often precede retail price changes as costs work their way through supply chains, the PPI is widely watched as a leading indicator of future consumer inflation.
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