May 2024 Producer Price Index — 2024-06-13

The Producer Price Index for final demand declined 0.2 percent in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices increased 0.5 percent in April and edged down 0.1 percent in March. (See table A.) On an unadjusted basis, the index for final demand advanced 2.2 percent for the 12 months ended in May. The May decrease in final demand prices can be attributed to a 0.8-percent decline in the index for final demand goods. Prices for final demand services were unchanged. Prices for final demand less foods, energy, and trade services were unchanged in May following a 0.5-percent increase in April. For the 12 months ended in May, the index for final demand less foods, energy, and trade services rose 3.2 percent. Final demand goods: Prices for final demand goods fell 0.8 percent in May, the largest decline since moving down 1.2 percent in October 2023.