The Producer Price Index for final demand increased 1.0% in July, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. On an unadjusted basis, the final demand index moved up 7.8% for the 12 months ended in July, the largest advance since 2010.
Prices for final demand less foods, energy, and trade services rose 0.9% in July. For the 12 months ended in July, the index moved up 6.1%, the largest advance since August 2014.
The index for final demand goods rose 0.6% in July. Most of the June increase can be traced to the index for final demand goods less foods and energy, which moved up 1.0%.
The index for final demand services increased 1.1% for the month, the largest one-month increase since data were first calculated in 2009. Nearly half of the increase in July is attributable to margins for final demand trade services, which moved up 1.7%.
Read the BLS release.