The Bureau of Labor Statistics (BLS) reported today (1-13-22) that the Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.2% in December. The December rise follows a 1% increase in November and 0.6% increases in October, September, and August. On an unadjusted basis, the final demand index rose 9.7% percent in 2021 — the largest calendar-year increase since data were first calculated in 2010.
In December, the advance in the final demand index can be traced to a 0.5% increase in prices for final demand services. Conversely, the index for final demand goods decreased -0.4%.
Prices for final demand less foods, energy, and trade services rose 0.4% in December following a 0.8% increase in November. In 2021, the index for final demand less foods, energy, and trade services moved up 6.9%, following a 1.3% advance in 2020.
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