The Producer Price Index for final demand increased 0.7% in August on a seasonally adjusted basis, according to the U.S. Bureau of Labor Statistics. Final demand prices rose 0.4% in July and declined 0.1% in June. On an unadjusted basis, the index for final demand moved up 1.6% for the 12 months ended in August.
The index for final demand less foods, energy and trade services increased 0.3% in August, the same as in July. For the 12 months ended in August, prices for final demand less foods, energy, and trade services advanced 3%, the largest increase since the 3.4% increase for the 12 months ended in April.
Prices for final demand goods in August increased 2%, the largest advance since increasing 2.1% in June 2022 and after a 0.3% increase in July 2023. In August, prices for final demand foods less foods and energy edged up 0.1% and final demand energy jumped 10.5%.
Prices for final demand services moved up 0.2% in August after increasing 0.5% in July. The index for final demand services less trade, transportation, and warehousing increased 0.3% in August. Margins for final demand trade services declined 0.3%. The index for final demand transportation and warehousing services increased 1.4%.
Read the BLS release.
Jigar Gohel
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