From the Bureau of Labor Statistics, June 11:
The Producer Price Index for final demand rose 1.1 percent in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices advanced 1.1 percent in April and 0.7 percent in March. (See table A.) On an unadjusted basis, the index for final demand increased 6.5 percent for the 12 months ended in May, the largest 12-month rise since moving up 7.4 percent in November 2022.
Nearly 80 percent of the May advance in final demand prices is attributable to a 2.8-percent increase in the index for final demand goods. Prices for final demand services moved up 0.3
percent.
The index for final demand less foods, energy, and trade services rose 0.8 percent in May, the largest advance since increasing 0.9 percent in March 2022. For the 12 months ended in May, prices for final demand less foods, energy, and trade services moved up 5.1 percent, the largest 12-month rise since jumping 5.5 percent in October 2022.
Final Demand
Final demand goods: The index for final demand goods moved up 2.8 percent in May, the largest increase since data were first calculated in December 2009. Eighty percent of the broad-based advance can be traced to a 10.7-percent jump in prices for final demand energy. The indexes for final demand goods less foods and energy and for final demand foods also rose, 0.8 percent and 0.6 percent, respectively.
Product detail: Over half of the May advance in prices for final demand goods is attributable to a 23.4-percent increase in the index for gasoline. Prices for diesel fuel, jet fuel, plastic resins and materials, industrial chemicals, and natural gas liquids also rose. In contrast, the index for pork fell 10.1 percent. Prices for residential electric power and for sanitary paper products also declined. (See table 2.)
Final demand services: The index for final demand services moved up 0.3 percent in May following a 0.7-percent advance in April. Leading the May increase, prices for final demand services less trade, transportation, and warehousing rose 0.7 percent. The index for final demand transportation and warehousing services moved up 2.6 percent. Conversely, margins for final demand trade services decreased 1.1 percent. (Trade indexes measure changes in margins received by wholesalers and retailers).
Product detail: Over 40 percent of the May advance in the index for final demand services can be traced to a 4.8-percent rise in prices for portfolio management. The indexes for truck transportation of freight; securities brokerage, dealing, investment advice, and related services; chemicals and allied products wholesaling; food wholesaling; and airline passenger services also increased. In contrast, margins for machinery and equipment wholesaling fell 1.9 percent. The indexes for fuels and lubricants retailing and for residential real estate loans (partial) also moved lower....
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From Table 2:
Gasoline +23.4%(p) in May 2026 - largest gain among goods
Securities brokerage, dealing, investment, and related services +5.4%(p) in May 2026 -largest gain among services
