May 2023 Producer Price Index — 2023-06-14

The Producer Price Index for final demand declined 0.3 percent in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices rose 0.2 percent in April and fell 0.4 percent in March. (See table A.) On an unadjusted basis, the index for final demand moved up 1.1 percent for the 12 months ended in May. In May, the decline in the final demand index can be traced to prices for final demand goods, which fell 1.6 percent. The index for final demand services increased 0.2 percent. Prices for final demand less foods, energy, and trade services were unchanged in May after inching up 0.1 percent in April. For the 12 months ended in May, the index for final demand less foods, energy, and trade services increased 2.8 percent. Final demand goods: Prices for final demand goods moved down 1.6 percent in May, the largest decrease since falling 1.6 percent in July 2022.