Producer Prices Rise Higher Than Expected

By Staff Writer May 16, 2024 231

The Producer Price Index for final demand rose 0.5 percent in April, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand prices declined 0.1% in March and advanced 0.6% in February. On an unadjusted basis, the index for final demand moved up 2.2% for the 12 months ended in April, the largest increase since rising 2.3% for the 12 months ended April 2023.

Nearly three-quarters of the April advance in final demand prices is attributable to a 0.6% increase in the index for final demand services. Prices for final demand goods moved up 0.4%.

The index for final demand less foods, energy, and trade services moved up 0.4% in April after rising 0.2% in March. For the 12 months ended in April, prices for final demand less foods, energy, and trade services increased 3.1%, the largest advance since climbing 3.4 % for the 12 months ended April 2023.

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Last modified on Friday, 17 May 2024 11:18