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Producer Price Index increased 0.1% in June 2023, ex Fd & Engy up 0.1%
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The Producer Price Index for final demand increased 0.1 percent in June, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices declined 0.4 percent in May and edged up 0.1 percent in April. On an unadjusted basis, the index for final demand advanced 0.1 percent for the 12 months ended in June.
In June, the increase in final demand prices can be traced to a 0.2-percent rise in the index for final demand services. Prices for final demand goods were unchanged.
The index for final demand less foods, energy, and trade services moved up 0.1 percent in June after no change in May. For the 12 months ended in June, prices for final demand less foods, energy, and trade services advanced 2.6 percent.
Final Demand
Final demand services: The index for final demand services increased 0.2 percent in June, the same as in May. Leading the June advance, prices for final demand services less trade, transportation, and warehousing moved up 0.3 percent. Margins for final demand trade services rose 0.2 percent. (Trade indexes measure changes in margins received by wholesalers and retailers.) In contrast, the index for final demand transportation and warehousing services decreased 0.9 percent.
Product detail: A 5.4-percent advance in the index for deposit services (partial) was a major factor in the June increase in prices for final demand services. The indexes for food and alcohol retailing, traveler accommodation services, insurance, hospital inpatient care, and airline passenger services also moved higher. Conversely, prices for truck transportation of freight declined 2.1 percent. The indexes for food and alcohol wholesaling and for residential real estate loans (partial) also fell.
Final demand goods: Prices for final demand goods were unchanged in June after decreasing 1.6 percent in May. In June, a 0.7-percent rise in the index for final demand energy offset falling prices for final demand goods less foods and energy and for final demand foods, which declined 0.2 percent and 0.1 percent, respectively.
Product detail: Within the index for final demand goods in June, prices for gasoline rose 3.4 percent. The indexes for electric power; beef and veal; chicken eggs; and medical, surgical, and personal aid devices also moved higher. In contrast, prices for iron and steel scrap dropped 10.8 percent. The indexes for diesel fuel, oilseeds, industrial chemicals, and residual fuels also decreased.
Posted: July 13, 2023 Thursday 08:30 AM