Producer Prices Rose 0.7% in January
Washington, DC, February 16, 2023-The Producer Price Index for final demand increased 0.7% in January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported.
Final demand prices declined 0.2% in December 2022 and advanced 0.3% in November.
On an unadjusted basis, the index for final demand rose 6.0% for the 12 months ended January 2023.
In January, a 1.2% rise in prices for final demand goods led the advance in the final demand index. Prices for final demand services also moved higher, increasing 0.4%.
The index for final demand less foods, energy, and trade services rose 0.6% in January 2023, the largest advance since moving up 0.9% in March 2022. For the 12 months ended in January 2023, prices for final demand less foods, energy, and trade services increased 4.5%.