US ISM Manufacturing Prices (Feb) 70.5 vs. Exp. 59.5 (Prev. 59.0, Low. 58, High. 61.5)

The ISM® Prices Index registered 70.5 percent in February, an increase of 11.5 percentage point over its January reading (59 percent) and indicating raw materials prices increased for the 17th straight month.
The last time the Prices Index registered a higher reading was June 2022 when the index registered 78.5 percent.
Of the six largest manufacturing industries, all (Petroleum & Coal Products; Computer & Electronic Products; Transportation Equipment; Machinery; Food, Beverage & Tobacco Products; and Chemical Products) reported price increases in February.
“The Prices Index reading continues to be driven by increases in steel and aluminum prices that impact the entire value chain, as well as tariffs applied to many imported goods.
Higher prices were reported by 45.4 percent of respondents in February, up 16.4 percentage points from January’s 29 percent but lower compared to the 49.2 percent in April 2025, which was the highest share since June 2022 (65.2 percent),” says Spence.
A Prices Index above 52.8 percent, over time, is generally consistent with an increase in the Bureau of Labor Statistics (BLS) Producer Price Index for Intermediate Materials.