Producer Price Index for Final Demand Increases Month-Over-Month and Year-Over-Year in February
Producer Price Indexes – February 2024
On Thursday, the Bureau of Labor Statistics (BLS) reported that the Producer Price Index (PPI) for final demand, seasonally adjusted, increased 0.6% in February. This follows a 0.3% increase in January and 0.1% declines in both November and December 2023.
On an unadjusted basis, the index for final demand rose 1.6% for the 12-month period ending in February, the largest increase since moving up 1.8% for the 12-month period ending in September 2023.
The February advance in the index for final demand is attributable to a 1.2% increase in final demand goods. In contrast, the index for final demand services only moved up 0.3%.
The index for final demand less foods, energy, and trade services increased 0.4% in February, after rising 0.6% in January. Year-over-year, prices for final demand less foods, energy, and trade services increased 2.8%.
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