Producer Price Index for Final Demand Declined in May; Up 1.1% Year-Over-Year

The Bureau of Labor Statistics (BLS) reported Wednesday (6-14-23) that the Producer Price Index (PPI) for final demand, seasonally adjusted, declined 0.3% in May, after increasing 0.2% April and declining 0.4% March. On an unadjusted basis, the index for final demand advanced 1.1% for the twelve-month period ending in May.

The decline in the final demand index can be attributed to prices for final demand goods, which fell 1.6%. The index for final demand services advanced 0.2%.

The index for final demand less foods, energy, and trade services was unchanged in May, after increasing 0.1% in both April and March. For the 12 months ending in May, prices for final demand less food, energy, and trade services advanced 2.8%.