Producer Price Index Edges Higher Month-Over-Month and Year-Over-Year in July

The Bureau of Labor Statistics (BLS) reported Friday (8-11-23) that the Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.3% in July, after remaining unchanged in June and declining 0.3% in May. On an unadjusted basis, the index for final demand advanced 0.8% for the 12-month period ending in July.

In July, the increase in the final demand prices can be traced to a 0.5% rise in the index for final demand services. Prices for final demand goods were 0.1% higher.

The index for final demand less foods, energy, and trade services inched up 0.2% in July, the largest increase since a 0.3% rise in February. For the 12 months ending in July, prices for final demand less foods, energy, and trade services advanced 2.7%.