The Producer Price Index for final demand increased 0.3% in January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand prices declined 0.1% in December 2023 and ticked up 0.1% in November. On an unadjusted basis, the index for final demand rose 0.9% for the 12 months ended January 2024.
The index for final demand less foods, energy, and trade services rose 0.6% in January 2023, the largest advance since moving up 0.6% in January 2023. Prices for final demand less foods, energy, and trade services increased 2.6% for the 12 months ended January 2024.
Prices for final demand goods moved down 0.2% in January, the fourth consecutive decline. Most of the January decrease is attributable to a 1.7% drop in prices for final demand energy. The index for final demand foods fell 0.3%. Conversely, prices for final demand goods less foods and energy increased 0.3%.
Prices for final demand services moved up 0.6% in January, the largest increase since rising 0.8% in July 2023. In January, most of the advance is attributable to prices for final demand services less trade, transportation, and warehousing, which climbed 0.8%. The index for final demand trade services moved up 0.2%. Conversely, prices for final demand transportation and warehousing services fell 0.4%.
Read the BLS release.
