The Bureau of Labor Statistics (BLS) reported today (10-14-21) that the Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.5% in September. Final demand prices rose 0.7% in August, 1.0% in July, 1.0% in June, 0.8% in May, 0.6% in April, 1.0% in March, and 0.5% in February.
On an unadjusted basis, the final demand index moved up 8.6% for the 12 months ended in September. This is the largest advance since 12-month data were first calculated in November 2010.
Leading the September increase in the index for final demand, prices for final demand services rose 0.7%. The BLS notes that nearly 80% of the September increase in the index for final demand can be traced to a 1.3% increase in prices for final demand goods. The index for final demand services moved up 0.2%. Prices for final demand less foods, energy, and trade services moved up 0.1% in September after increasing 0.3% in August. For the 12 months ending in September, the index for final demand less foods, energy, and trade services rose 5.9%.
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PRODUCER PRICE INDEXES – SEPTEMBER 2021