PPI Index Dips Slightly

By Staff Writer September 15, 2022 103

The Producer Price Index for final demand fell 0.1% in August, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand prices decreased 0.4% in July and advanced 1.0% in June. On an unadjusted basis, the index for final demand moved up 8.7% for the 12 months ended in August.

In August, the decrease in the index for final demand is attributable to a 1.2% decline in prices for final demand goods. In contrast, the index for final demand services advanced 0.4%.

Prices for final demand less foods, energy, and trade services moved up 0.2% in August following a 0.1-percent rise in July. For the 12 months ended in August, the index for final demand less foods, energy, and trade services increased 5.6 percent.

ย The index for final demand goods fell 1.2% in August after declining 1.7% in July. The August decrease can be traced to a 6.0% drop in prices for final demand energy. Conversely, the index for final demand goods less foods and energy rose 0.2%, while prices for final demand foods were unchanged.

In August, over three-quarters of the decrease in prices for final demand goods is attributable to the index for gasoline, which fell 12.7 percent. Prices for diesel fuel, jet fuel, chicken eggs, primary basic organic chemicals, and home heating oil also declined.

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Last modified on Tuesday, 20 September 2022 14:54