Producer prices rose 0.8% in May

The Producer Price Index for final demand increased 0.8% in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This rise followed advances of 0.4%in April and 1.6%in March. On an unadjusted basis, the final demand index moved up 10.8% for the 12 months ended May 2022.

Prices for final demand less foods, energy, and trade services rose 0.5% in May, after increasing 0.4% in April. For the 12 months ended in May, the index moved up 6.8%.

The index for final demand goods rose 1.4% in May. Over 70% of the broad-based advance in May can be traced to a 5.0%jump in prices for final demand energy. The indexes for final demand goods less foods and energy moved up 0.7%, while prices for final demand foods were unchanged.

The index for final demand services moved up 0.4%in May, following a 0.2% decrease in April. In May, prices for final demand transportation and warehousing services rose 2.9%. The indexes for final demand trade services and for final demand services less trade, transportation, and warehousing also moved higher, 0.4%and 0.1%, respectively.

Read the BLS release.