Producer Prices Declined 0.3% in May
Washington, DC, June 14, 2023-The Producer Price Index for final demand declined 0.3% in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported.
Final demand prices rose 0.2% in April and fell 0.4% in March.
On an unadjusted basis, the index for final demand moved up 1.1% for the 12 months ended in May.
In May, the decline in the final demand index can be traced to prices for final demand goods, which fell 1.6%. The index for final demand services increased 0.2%.
Prices for final demand less foods, energy, and trade services were unchanged in May after inching up 0.1% in April. For the 12 months ended in May, the index for final demand less foods, energy, and trade services increased 2.8%.