Producer Prices Rose 0.6% in July
Washington, DC, August 11, 2020-The Producer Price Index for final demand increased 0.6% in July, seasonally adjusted, the U.S. Bureau of Labor Statistics reported.
This rise followed a 0.2% decline in June and a 0.4% advance in May.
The July increase is the largest rise since a 0.7% advance in October 2018. On an unadjusted basis, the final demand index moved down 0.4% for the 12 months ended in July.
In July, the advance in the final demand index was led by a 0.5% rise in prices for final demand services. The index for final demand goods also moved higher, increasing 0.8%.
Prices for final demand less foods, energy, and trade services advanced 0.3% in July, the same as in June. For the 12 months ended in July, the index for final demand less foods, energy, and trade services edged up 0.1%, following three straight 12-month declines.