The Producer Price Index for final demand fell 0.1% in December, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand pries moved down 0.1% in November and 0.4% in October. On an unadjusted basis, the index for final demand rose 1.0% in 2023 after increasing 6.4% in 2022.
The index for final demand less foods, energy, and trade services rose 0.2% in December after edging up 0.1% in both November and October. Prices for final demand less foods, energy, and trade services climbed 2.5% in 2023 following a 4.7% increase in 2022.
Prices for final demand goods fell 0.4% in December, the third consecutive decline. In December, nearly 60% of the decrease can be traced to a 1.2% drop in prices for final demand energy. The index for final demand foods moved down 0.9%, while prices for final demand goods less foods and energy were unchanged.
Prices for final demand services remained unchanged in December, the same as in both November and October. In December, prices for final demand services less trade, transportation, and warehousing rose 0.4%. Conversely, the indexes for final demand trade services and for final demand transportation and warehousing services fell 0.8% and 0.4%, respectively.
Read the BLS release.
