The Producer Price Index for final demand edged up 0.1% in July, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand prices rose 0.2% in June and were unchanged in May. On an unadjusted basis, the index for final demand rose 2.2% for the 12 months ended in July.
The index for final demand less foods, energy, and trade services advanced 0.3% in July after a 0.1% increase in June. For the 12 months ended in July the index for final demand less foods, energy, and trade services rose 3.3%.
Prices for final demand goods rose 0.6% in July, the largest advance since a 1.1% jump in February. Most of the increase is attributable to a 1.9% rise in the index for final demand energy. Prices for final demand goods less foods and energy and for final demand foods also rose 0.2% and 0.6%, respectively.
Prices for final demand services fell 0.2% in July, the largest decrease since moving down 0.2% in March 2023. The July decline can be attributed to a 1.3% drop in final demand trade services. The Index for final demand services less trade, transportation, and warehousing and for final demand transportation and warehousing services rose 0.3% and 0.4%, respectively.
Read the BLS release.
