Portfolio management fees reversed the 15.9% greedflation increase we've seen over the last year, declining 1.8% for the month. (just kidding RIA's)
From the Bureau of Labor Statistics, June 13:
PRODUCER PRICE INDEXES - MAY 2024
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
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. Leading the May decrease, the index for final demand energy dropped 4.8 percent. Prices for final demand foods edged down 0.1 percent. In contrast, the index for final demand goods less foods and energy advanced 0.3 percent.
Product detail: Nearly 60 percent of the May decrease in the index for final demand goods can be traced to a 7.1-percent decline in prices for gasoline. The indexes for diesel fuel, chicken eggs, electric power, jet fuel, and basic organic chemicals also fell. Conversely, prices for cigarettes rose 3.3 percent. The indexes for hay, hayseeds, and oilseeds and for residual fuels also moved higher.
(See table 2.)
Final demand services: Prices for final demand services were unchanged in May after increasing 0.6 percent in April. In May, the indexes for final demand trade services and for final demand services less trade, transportation, and warehousing rose 0.2 percent and 0.1 percent, respectively. (Trade indexes measure changes in margins received by wholesalers and retailers.) In contrast, prices for final demand transportation and warehousing services fell 1.4 percent.
Product detail: Within the index for final demand services in May, margins for fuels and lubricants retailing jumped 12.2 percent. The indexes for food and alcohol retailing; outpatient care (partial); automobiles and automobile parts retailing; and apparel, footwear, and accessories retailing also advanced. Conversely, prices for airline passenger services fell 4.3 percent. The indexes for machinery and vehicle wholesaling, professional and commercial equipment wholesaling, portfolio management, and truck transportation of freight also declined....
....MUCH MORE, tables, narrative.
