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Producer prices for final demand in services increase 2.7 percent in the year ending August 2019

September 16, 2019

Producer prices for final demand services increased 2.7 percent from August 2018 to August 2019. Among the major components of services, trade services had the largest percentage increase in prices (+3.8 percent), primarily due to a 19.4-percent increase in prices for fuels and lubricants.

 Producer Price Index for final demand services, 12-month percent change, not seasonally adjusted, August 2019

Services commodity

12-month percent change

All services

2.7%

Trade services

3.8

Machinery and equipment and parts and supplies wholesaling

4.2

Food and alcohol retailing

1.4

Health and beauty retailing, including optical goods

4.9

Apparel, jewelry, footwear, and accessories retailing

4.5

Automobiles and automobile parts retailing

3.1

Fuels and lubricants retailing

19.4

Transportation and warehousing services

3.2

Rail transportation of freight and mail

2.8

Truck transportation of freight

1.2

Water transportation of freight

2.4

Air transportation of freight

-0.9

Courier, messenger, and U.S. postal service

4.6

Airline passenger services

7.2

Less trade, transportation, and warehousing

2.1

Loan services (partial)

-1.9

Securities brokerage, dealing, investment advice, and related services

4.0

Portfolio management

4.1

Outpatient care (partial)

1.4

Inpatient care

2.9

Traveler accommodation services

4.6

Producer prices for final demand for transportation and warehousing services increased 3.2 percent from August 2018 to August 2019. Among these services, producer prices for airline passenger services had the largest percentage increase (7.2 percent), while prices in air transportation of freight services decreased 0.9 percent. Producer prices for final demand for services, less trade, transportation, and warehousing increased 2.1 percent. Within this commodity group, prices for traveler accommodations increased 4.6 percent, while prices for loan services (partial) decreased 1.9 percent.

These data are from the Producer Price Indexes program and are not seasonally adjusted. To learn more, see "Producer Price Indexes — August 2019." All producer price indexes are subject to revision once, 4 months after original publication; these revisions reflect late reports and corrections by respondents. Producer price indexes measure prices U.S. producers receive for goods, services, and construction. Also see Charts related to the latest "U.S. Producer Price Indexes" news release.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Producer prices for final demand in services increase 2.7 percent in the year ending August 2019 on the Internet at https://www.bls.gov/opub/ted/2019/producer-prices-for-final-demand-in-services-increase-2-7-percent-in-the-year-ending-august-2019.htm (visited October 23, 2019).

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