The Producer Price Index for final demand rose 1.3% in January, seasonally adjusted, according to the U.S. Bureau of Labor Statistics. This follows a 0.3% increase in December. On an unadjusted basis, the final demand index increased 1.7% for the 12 months ended in January.
Prices for final demand less foods, energy, and trade services rose 1.2% in January. For the 12 months ended in January, the index for final demand less foods, energy, and trade services increased 2.0%.
The index for final demand goods rose 1.4% in January, the largest increase since May 2020. Most of the January increase can be traced to to prices for final demand energy, which climbed 5.1%.
The index for final demand services increased 1.3% in January, the largest advance since the index began in December 2009. Prices for final demand services less trade, transportation, and warehousing climbed 1.4%. The indexes for final demand trade services and for final demand transportation and warehousing services also moved higher, 1.0% and 1.3%, respectively.
Read the BLS release.