The Producer Price Index for final demand increased 0.6% in February, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand prices increased 0.3% in January and edged down 0.1% in December 2023. On an unadjusted basis, the final demand index advanced 1.6% for the 12 months ended in February, the largest rise since moving up 1.8% for the 12 months ended September 2023.
The index for final demand less foods, energy and trade services increased 0.4% in February after rising 0.6% in January. For the 12 months ended in February, prices for final demand less foods, energy and trade services moved up 2.8%.
Prices for final demand goods advanced 1.2% in February, the largest increase since moving up 1.7% in August 2023. Nearly 70% of the broad-based rise in February can be attributed to the index for final demand energy, which jumped 4.4%. Prices for final demand goods less foods and energy moved up 0.3%.
Prices for final demand services moved up 0.3% in February after rising 0.5% in January. Leading the February increase, the index for final demand services less trade, transportation and warehousing services advanced 0.5%. Prices for final demand transportation and warehousing services rose 0.9%. In contrast, margins for final demand trade services declined 0.3%.
Read the BLS release.
