Producer Prices Rose 0.3% in January

Washington, DC, February 16, 2024-The Producer Price Index for final demand increased 0.3% in January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. 

Final demand prices declined 0.1% in December 2023 and advanced 0.1% in November. 

On an unadjusted basis, the index for final demand rose 0.9% for the 12 months ended January 2024. 

In January, the advance in the index for final demand can be traced to a 0.6% rise in prices for final demand services. In contrast, the index for final demand goods decreased 0.2%.

The index for final demand less foods, energy, and trade services rose 0.6% in January 2024, the largest advance since moving up 0.6% in January 2023. For the 12 months ended January 2024, prices for final demand less foods, energy, and trade services increased 2.6%.