The Producer Price Index for final demand fell 0.2% in May 2024, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand prices increased 0.5% in April and were down 0.1% in March 2024.
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On an unadjusted basis, the index for final demand increased by 2.2% for the 12 months ended in May 2024.
The May decrease in final demand prices can be attributed to a 0.8% drop in the index for final demand goods. This was the largest decline since moving down 1.2% in October 2023. Prices for final demand services were unchanged.
The index for final demand less foods, energy and trade services were unchanged in May after a 0.5% increase in April. For the 12 months ended in May, prices for final demand less foods, energy and trade services advanced 3.2%.
