January 2024 Producer Price Index — 2024-02-16

The Producer Price Index for final demand increased 0.3 percent in January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices declined 0.1 percent in December 2023 and advanced 0.1 percent in November. (See table A.) On an unadjusted basis, the index for final demand rose 0.9 percent for the 12 months ended January 2024. In January, the advance in the index for final demand can be traced to a 0.6-percent rise in prices for final demand services. In contrast, the index for final demand goods decreased 0.2 percent. The index for final demand less foods, energy, and trade services rose 0.6 percent in January 2024, the largest advance since moving up 0.6 percent in January 2023. For the 12 months ended January 2024, prices for final demand less foods, energy, and trade services increased 2.6 percent.