Producer Prices Rose 0.3% in July
Washington, DC, August 11, 2023-The Producer Price Index for final demand increased 0.3% in July, seasonally adjusted, the U.S. Bureau of Labor Statistics reported.
Final demand prices were unchanged in June and declined 0.3% in May. On an unadjusted basis, the index for final demand advanced 0.8% for the 12 months ended in July.
In July, the increase in final demand prices was led by a 0.5% rise in the index for final demand services. Prices for final demand goods edged up 0.1%.
The index for final demand less foods, energy, and trade services moved up 0.2% in July, the largest increase since a 0.3% rise in February. For the 12 months ended in July, prices for final demand less foods, energy, and trade services advanced 2.7%.