§1The reading
The BLS wood pallet PPI (WPU084101) was 335.273 in August 2024, down 0.1% on the month and down 9.3% on the year.
Over three months the index moved −1.5%.
It was the lowest reading since April 2021.
Across the five years to August 2024, the index ranged from 279.3 (May 2020) to 444.2 (April 2022).
Lumber (WPU081) was −1.6% on the year, softwood −6.3% and hardwood +5.6%; lumber ran 7.7 points ahead of pallets over twelve months.
The industry-basis index for wood container and pallet manufacturing (PCU321920321920) was −8.8% on the year.
U.S. retail diesel averaged $3.700 a gallon over the month (EIA, 4 weekly readings), −15.3% on a year earlier.
These notes are generated from the published figures, not written by an analyst. The method is on the methodology page.
§2All eight series for August 2024
| Series | Base | Index | Month | Year |
|---|---|---|---|---|
| Wood pallets WPU084101 | 1982 = 100 | 335.273 | −0.1% | −9.3% |
| Pallets incl. wood/metal combination WPU0841 | 1982 = 100 | 335.273 | −0.1% | −9.3% |
| Wood container & pallet mfg (industry) PCU321920321920 | Dec 2003 = 100 | 178.888 | −0.1% | −8.8% |
| Pallets, industry basis PCU3219203219205 | Dec 2003 = 100 | 185.347 | −0.1% | −9.3% |
| Industry primary products PCU321920321920P | Dec 2003 = 100 | 172.662 | −0.2% | −9.1% |
| Lumber WPU081 | 1982 = 100 | 251.601 | +1.6% | −1.6% |
| Softwood lumber WPU0811 | 1982 = 100 | 249.891 | +2.9% | −6.3% |
| Hardwood lumber WPU0812 | 1982 = 100 | 264.787 | −0.1% | +5.6% |
p = preliminary. BLS revises the latest four months.
§3What it means for an index clause
A pallet bought at $10.00 twelve months earlier, escalated in full with this index, would be $9.07 in August 2024. Method: $10.00 × (index in August 2024 ÷ index twelve months before). Most clauses only move the price when the change passes a band, and some pass through only part of it.
Under the model clause's quarterly review, which compares the index for the second month before each quarter with the base, the August 2024 reading is the one used for the review on 1 October 2024.
Run your own numbers with the escalator, or read the model escalator clause.
§4Freight context
U.S. retail on-highway diesel averaged $3.700 a gallon across 4 weekly EIA readings in August 2024 (−15.3% on a year earlier). Delivery charges and fuel surcharges are separate from the producer index, so price them as their own lines in the bid-leveling sheet.