The Bureau of Labor Statistics (BLS) reported today (7-14-22) that the Producer Price Index (PPI) for final demand, seasonally adjusted, increased 1.1% in June. This rise followed advances of 0.9% in May, 0.4% in April, 1.6% in March, 1.1% in February, and 1.2% in January. On an unadjusted basis, final demand prices moved up 11.3% for the 12 months ending in June. This is the largest increase since a record high 11.5% jump in March of 2022.
In June, three-fourths of the advance in the index for final demand was due to a 2.4% rise in prices for final demand goods. The index for final demand services increased 0.4%.
Prices for final demand less foods, energy, and trade services moved up 0.3% in June after advancing 0.4% in both May and April. For the 12 months ending in June, the index for final demand less foods, energy, and trade services rose 6.4%.
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