Producer Price Index for Final Demand Declines in July—Still Up 9.8% Year-Over-Year
PRODUCER PRICE INDEXES – JULY 2022
The Bureau of Labor Statistics (BLS) reported today (8-11-22) that the Producer Price Index (PPI) for final demand, seasonally adjusted, declined 0.5% in July. This drop follows advances of 1.0% in June, 0.8% 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 9.8% for the 12 months ending in July.
In July, the decrease in the index for final demand is attributable to a 1.8% decline in prices for final demand goods. In contrast, the index for final demand services advanced 0.1%.
Prices for final demand less foods, energy, and trade services moved up 0.2% in July following a 0.3% increase in June. For the 12 months ending in July, the index for final demand less foods, energy, and trade services increased 5.8%.
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