US wholesale prices hit 5.4% yearly as diesel surges

The U.S. Bureau of Labor Statistics, in its Producer Price Index news release for August 2026 (USDL 26-1495, 10 September), said the index for final demand rose 0.4% in August, seasonally adjusted. On an unadjusted basis, final demand was up 5.4% for the 12 months ended in August.

This is the official BLS PPI news release for final demand. It is not a consumer CPI print, and it is not a Federal Reserve rate decision.

Final-demand goods rose 1.1% on the month, and services rose 0.1%. Energy was the main goods driver at +4.2%. Diesel fuel jumped 24.1% and, BLS said, accounted for over a third of the August increase in final-demand goods. Transportation and warehousing services rose 2.3% and did most of the services work.

July's monthly reading now stands at +0.1%. CNBC (Jeff Cox, 10 September 2026) said that was an upward revision from an initial estimate of unchanged. BLS notes that figures for April through July were revised for late reports and corrections.

Excluding food and energy, final demand rose 0.2% on the month and 4.6% over 12 months. Final demand less foods, energy, and trade services rose 0.3% and 4.7%. CNBC said the +0.4% monthly print matched the Dow Jones consensus, while the 5.4% yearly figure was 0.1 percentage point above estimate.

The print feeds the inflation-pipeline debate ahead of the Fed's next policy meeting. It does not by itself decide that meeting.

Wholesale and official-sector tape this week also includes the ECB deposit-rate lift to 2.50%, UK GDP up 0.4% in July, Oracle's $664 billion remaining performance obligations, and Treasury's $6 billion debt buyback.

If you model goods inflation, freight, or a September policy call, mark diesel at +24.1% and the July revision to +0.1% before you treat 5.4% yearly wholesale as the whole story. Keep this book separate from consumer CPI and from any Fed vote that has not been taken.