December 2023 Producer Price Index — 2024-01-12

The Producer Price Index for final demand fell 0.1 percent in December, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices moved down 0.1 percent in November and 0.4 percent in October. (See table A.) On an unadjusted basis, the index for final demand rose 1.0 percent in 2023 after increasing 6.4 percent in 2022. The December decrease in the index for final demand is attributable to a 0.4-percent drop in prices for final demand goods. The index for final demand services was unchanged. The index for final demand less foods, energy, and trade services rose 0.2 percent in December after edging up 0.1 percent in both November and October. Prices for final demand less foods, energy, and trade services climbed 2.5 percent in 2023 following a 4.7-percent increase in 2022. Final demand goods: The index for final demand goods fell 0.4 percent in December, the third consecutive decline.