Producer Price Index Rises

By Staff Writer July 15, 2022 164

The Producer Price Index for final demand increased 1.1 percent in June, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. This rise followed advances of 0.9 percent in May and 0.4 percent in April. On an unadjusted basis, final demand prices moved up 11.3 percent for the 12 months ended in June, the largest increase since a record 11.6-percent jump in March 2022.

In June, three-fourths of the advance in the index for final demand was due to a 2.4-percent rise in prices for final demand goods. The index for final demand services increased 0.4 percent.

Prices for final demand less foods, energy, and trade services moved up 0.3 percent in June after advancing 0.4 percent in both May and April. For the 12 months ended in June, the index for final demand less foods, energy, and trade services rose 6.4 percent.

The index for final demand goods moved up 2.4 percent in June, the sixth consecutive rise. Nearly 90 percent of the June increase can be traced to a 10.0-percent jump in prices for final demand energy. The indexes for final demand goods less foods and energy and for final demand foods advanced 0.5 percent and 0.1 percent, respectively.

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Last modified on Friday, 15 July 2022 01:23