The Bureau of Labor Statistics (BLS) reported today (9-14-22) that the Producer Price Index (PPI) for final demand, seasonally adjusted, declined 0.1% in August. The August drop follows a 0.4% decline in July, but it was proceeded by 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 8.7% for the 12 months ending in August.
In August, the decrease in the index for final demand is attributable to a 1.2% decline in prices for final demand goods. In contrast, the index for final demand services advanced 0.4%.
Prices for final demand less foods, energy, and trade services moved up 0.2% in August following a 0.1% increase in July and a 0.3% increase in June. For the 12 months ending in August, the index for final demand less foods, energy, and trade services increased 5.6%.
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