Producer prices rose 1.1% in June

The Producer Price Index for final demand increased 1.1% in June, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This rise followed advances of 0.9% in May and 0.4% in April. On an unadjusted basis, the final demand index moved up 11.3% for the 12 months ended June 2022, the largest increase since a record 11.6% jump in March 2022.

Prices for final demand less foods, energy, and trade services rose 0.3% in June, after increasing 0.4% in May. For the 12 months ended in June, the index moved up 6.4%.

The index for final demand goods rose 2.4% in June. Nearly 90% of the June increase can be traced to a 10.0% jump in prices for final demand energy. The indexes for final demand goods less foods and energy and for final demand foods advanced 0.5% and 0.1%, respectively.

The index for final demand services rose 0.4% in June, following a 0.6% increase in May. Two-thirds of the broad-based advance in June can be traced to a 0.8% increase in margins for final demand trade services. Prices for final demand services less trade, transportation, and warehousing and for final demand transportation and warehousing services also moved higher, 0.1% and 0.8%, respectively.

Read the BLS release.