The Bureau of Labor Statistics (BLS) reported today (8-12-21) that the Producer Price Index (PPI) for final demand, seasonally adjusted, increased 1.0% in July. Final demand prices rose 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 7.8% for the 12 months ended in July — the largest advance since 12-month data were first calculated in November 2010.
Nearly three-fourths of the July increases in the final demand index can be traced to a 1.1% increase in prices for final demand services. The index for final demand goods rose 0.6%. Prices for final demand less foods, energy, and trade services moved up 0.9% in July, the largest advance since climbing 1.0 percent in January. For the 12 months ended in July, the index for final demand less foods, energy, and trade services rose 6.1%, the largest increase since 12-month data were first calculated in August 2014.
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PRODUCER PRICE INDEXES – JULY 2021