From the Bureau of Labor Statistics, August 11:
The Producer Price Index for final demand increased 0.3 percent in July, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices were unchanged in June and declined 0.3 percent in May. (See table A.) On an unadjusted basis, the index for final demand advanced 0.8 percent for the 12 months ended in July.
In July, the increase in final demand prices was led by a 0.5-percent rise in the index for final demand services. Prices for final demand goods edged up 0.1 percent.
The index for final demand less foods, energy, and trade services moved up 0.2 percent in July, the largest increase since a 0.3-percent rise in February. For the 12 months ended in July, prices for final demand less foods, energy, and trade services advanced 2.7 percent.Final DemandFinal demand services: The index for final demand services increased 0.5 percent in July, the largest rise since moving up 0.5 percent in August 2022. Leading the broad-based advance in July, prices for final demand services less trade, transportation, and warehousing climbed 0.3 percent. Margins for final demand trade services rose 0.7 percent, and the index for final demand transportation and warehousing services moved up 0.5 percent. (Trade indexes measure changes in margins received by wholesalers and retailers.)Product detail: Forty percent of the July advance in the index for final demand services can be traced to a 7.6-percent rise in prices for portfolio management. The indexes for machinery and vehicle wholesaling; outpatient care (partial); chemicals and allied products wholesaling; securities brokerage, dealing, investment advice, and related services; and transportation of passengers (partial) also moved higher. Conversely, margins for food and alcohol retailing declined 2.5 percent. The indexes for application software publishing and for long-distance motor carrying also fell. (See table 2.)....
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