The Producer Price Index for final demand increased 0.6% in April, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. On an unadjusted basis, the final demand index moved up 6.2% for the 12 months ended in April, the largest advance since 2010.
Prices for final demand less foods, energy, and trade services rose 0.7% in April. For the 12 months ended in April, the index moved up 4.6%, the largest advance since August 2014.
The index for final demand goods rose 0.6% in April. Most of the April increase can be traced to the index for steel mill products, which jumped 18.4%.
The index for final demand services increased 0.6% for the month, the fourth consecutive advance. Nearly half of the increase in April is attributable e to the index for final demand services less trade, transportation, and warehousing, which moved up 0.5%.
Read the BLS release.