Producer prices rose 0.5 percent in June, seasonally adjusted, after rising 0.4 percent in May, according to the U.S. Bureau of Labor Statistics. The majority of June’s increase was attributable to an increase in prices for final demand services. Producer prices have increased 0.3 percent over the last 12 months.
Prices for final demand services increased for the third consecutive month, rising 0.4 percent in June. Much of the rise was due to an increase in the index for services related to securities brokerage and dealing, which rose 7.7 percent. In contrast, margins for apparel, footwear, and accessories retailing declined 2.6 percent.
The index for final demand goods rose 0.8 percent in June, the largest increase since May 2015. Three quarters of the increase was attributable to final demand energy, which rose 4.1 percent amid a 9.9 percent increase in gasoline prices. Prices for final demand foods also increased, rising 0.9 percent.
Read the BLS release.
