Manufacturing Business Outlook Survey: Prices paid: Current (increase vs decrease; diffusion index; percentage points; seasonally unadjusted) - United States - Philly FED - Monthly
This series is part of the dataset: Manufacturing Business Outlook Survey (Philly FED)
Download Full Dataset (.xlsx)Latest updates. According to recent survey data about manufacturing firms in the Third Federal Reserve District, the seasonally unadjusted diffusion index for prices paid (share of CEOs seeing a recent increase minus share reporting a decrease) was 42.9 in September 2025, versus 65.4 in August 2025.
Sample. There are 689 observations in the monthly time series shown in the plot above. The time span covered by the series goes from May 1968 to September 2025.
History. Here’s a quick look at some statistics computed on the entire sample: the diffusion index hit a minimum of -39.5 in December 2008; it peaked at 91.0 in March 1974; it had a mean value of 29.3.
Latest values
| Date | Value - Percentage points |
|---|---|
| 2025-07-31 | 53.3 |
| 2025-08-31 | 65.4 |
| 2025-09-30 | 42.9 |
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Series Metadata
| Field | Value |
|---|---|
| Description | Diffusion index for the question: Did prices paid increase or decrease in the past month? |
| Country | United States |
| Economic concept | Business survey response |
| Data type | Coincident indicator of the business cycle |
| Deflation method | Not applicable |
| Seasonally adjusted | No |
| Rescaling | None |
| Frequency | Monthly |
| Unit | Percentage points |
| Source | Federal Reserve Bank of Philadelphia |
| Source type | Central bank |
| Data licence | Not copyrightable under U.S. law |
| Measure type | Diffusion index (share of respondents reporting an increase minus share reporting a decrease) |
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