Manufacturer Prices Climb to 2022-High Pace
Manufacturers buying inputs and selling finished goods face higher costs and prices as new orders slow.
Updated on Nov. 2, 2026 in Manufacturing
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S&P Global revised its US Manufacturing PMI down to 54.9 for October, from a flash estimate of 56.0 and a September reading of 55.9. Output kept rising for a seventeenth straight month, and manufacturers across the United States expanded hiring at the fastest pace in five and a half years.
Why it matters
Rising input costs from energy, fuel, transportation and metals, plus tariffs, pushed manufacturers to raise selling prices, and output price inflation reached its highest level since September 2022. For manufacturers, the squeeze between higher costs and slowing new orders makes purchasing and pricing decisions harder to time.
The S&P Global Manufacturing PMI was revised down to 54.9 for October from a flash estimate of 56.0, compared with 55.9 in September. Output has risen for seventeen consecutive months and employment expanded at the fastest rate in five and a half years.
The players
S&P Global
A financial data and analytics company whose monthly PMI survey is a widely watched gauge of US manufacturing activity.
The details
Manufacturers stepped up purchasing and built inventories, and stronger order books combined with delayed input deliveries to increase backlogs of work. Ongoing supply-chain disruptions lengthened delivery times, and input cost inflation reached its highest level since May's near four-year peak. Manufacturers responded by raising selling prices, which lifted output price inflation to its highest level since September 2022.
Timeline
September: PMI reading of 55.9 recorded.
March: New orders last grew at this slower pace.
May: Input cost inflation peaked near a four-year high.
October: PMI revised down to 54.9 while output growth continued.
Market Landscape
Output price inflation has returned to its highest level since the September 2022 peak recorded in the same S&P Global PMI series. Manufacturers are again raising selling prices as tariffs and input costs rise, even as new orders slow.
Operators should budget for continued input cost increases and price pass-through in the near term. Procurement teams should watch delivery lead times, which supply-chain disruptions are lengthening, when planning inventory.
The takeaway
Manufacturers face a push-pull of rising prices and slowing new orders, so track the next PMI release for whether output price inflation keeps climbing. Review supplier contracts for energy, metal and transportation cost clauses before committing to new purchases.
Further reading
For more context on the wider sector, see Manufacturing coverage on We are Main Street.
Source note: This article includes information reported by RobotFX Trading News.
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