Producer Prices Declined 0.5% in July
Washington, DC, August 11, 2022-The Producer Price Index for final demand fell 0.5% in July, seasonally adjusted, the U.S. Bureau of Labor Statistics reported.
This decline followed advances of 1.0% in June and 0.8% in May. On an unadjusted basis, final demand prices moved up 9.8% for the 12 months ended in July.
In July, the decrease in the index for final demand is attributable to a 1.8% decline in prices for final demand goods. In contrast, the index for final demand services advanced 0.1%.
Prices for final demand less foods, energy, and trade services moved up 0.2% in July following a 0.3% rise in June. For the 12 months ended in July, the index for final demand less foods, energy, and trade services increased 5.8%.