The Producer Price Index for final demand rose 0.5% in April 2024, seasonally adjusted, the U.S. Bureau of Labor Statistics reported. Final demand prices increased 0.2% in March and 0.6% in February 2024.
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On an unadjusted basis, the index for final demand increased by 2.2% for the 12 months ended in April 2024, the biggest jump since rising 2.3% for the 12 months ended April 2023.
Nearly 75% of this increase can be attributed to a 0.6% increase in the index for final demand for services. Prices for final demand goods went up 0.4%.
The index for final demand less foods, energy and trade services rose 0.4% in April after a 0.2% increase in March. For the 12 months ended in April, prices for final demand less foods, energy and trade services advanced 3.1%, the largest increase since the 12 months ended April 2023, when they advanced 3.4%.
