The U.S. Bureau of Labor Statistics (BLS) is reporting that the Producer Price Index (PPI) for final demand, seasonally adjusted increased 1.0% in March. Final demand prices rose 0.5% in February and 1.3% in January. On an unadjusted basis, the final demand index moved up 4.2% for the 12 months ended in March, the largest advance since rising 4.5% for the 12 months ended September 2011. In March, almost 60% of the increase in the index for final demand can be traced to a 1.7% advance in prices for final demand goods. The index for final demand services moved up 0.7%. Prices for final demand less foods, energy, and trade services rose 0.6% in March following an increase of 0.2% in February. For the 12 months ended in March, the index for final demand less foods, energy, and trade services moved up 3.1%, the largest advance since climbing 3.1% for the 12 months ended September 2018. Over one-fourth of the March increase in the index for final demand goods can be traced to an 8.8% jump in gasoline prices. The indexes for diesel fuel, residential electric power, industrial chemicals, steel mill products, and processed poultry also moved higher. In contrast, beef and veal prices fell -4.3%. The indexes for fresh and dry vegetables and for surgical and medical instruments also declined.
FEA compiles the Wood Markets News from various 3rd party sources to provide readers with the latest news impacting forest product markets. Opinions or views expressed in these articles do not necessarily represent those of FEA.
PRODUCER PRICE INDEXES – MARCH 2021