May 2008 Producer Price Index — 2008-06-17

The Producer Price Index for Finished Goods increased 1.4 percent in May, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This rise followed a 0.2-percent advance in April and a 1.1-percent increase in March. At the earlier stages of processing, prices received by producers of intermediate goods rose 2.9 percent following a 0.9-percent advance a month earlier, and the crude goods index increased 6.7 percent after climbing 3.2 percent in April. (See table A.) In May, the index for finished energy goods turned up 4.9 percent after falling 0.2 percent a month earlier. Prices for finished consumer foods increased 0.8 percent following no change in April. By contrast, partially offsetting the acceleration in the finished goods index, the rise in the index for finished goods less foods and energy slowed to 0.2 percent from 0.4 percent in the previous month.