July 2024 Producer Price Index — 2024-08-13

The Producer Price Index for final demand increased 0.1 percent in July, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices rose 0.2 percent in June and were unchanged in May. (See table A.) On an unadjusted basis, the index for final demand advanced 2.2 percent for the 12 months ended in July. The July rise in the index for final demand can be attributed to prices for final demand goods, which moved up 0.6 percent. In contrast, the index for final demand services fell 0.2 percent. Prices for final demand less foods, energy, and trade services advanced 0.3 percent in July after increasing 0.1 percent in June. For the 12 months ended in July, the index for final demand less foods, energy, and trade services moved up 3.3 percent. Final demand goods: Prices for final demand goods rose 0.6 percent in July, the largest advance since a 1.1-percent jump in February.