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Producer price final demand index down 1.2 percent for the year ended April 2020

May 20, 2020

The Producer Price Index for final demand declined 1.2 percent for the 12 months ended in April 2020, after having increased 0.7 percent in in the 12 months ended in March. The April decline in final demand prices was the largest since a 1.3-percent decline for the 12 months ended November 2015.

12-month percent change in Producer Price Index for final demand, January 2011 to April 2020
Month 12-month change

Jan 2011

2.4%

Feb 2011

3.3

Mar 2011

4.0

Apr 2011

4.2

May 2011

4.2

Jun 2011

4.3

Jul 2011

4.5

Aug 2011

4.4

Sep 2011

4.5

Oct 2011

3.7

Nov 2011

3.7

Dec 2011

3.2

Jan 2012

3.1

Feb 2012

2.8

Mar 2012

2.4

Apr 2012

2.0

May 2012

1.6

Jun 2012

1.3

Jul 2012

1.0

Aug 2012

1.2

Sep 2012

1.5

Oct 2012

1.9

Nov 2012

1.7

Dec 2012

1.9

Jan 2013

1.6

Feb 2013

1.6

Mar 2013

1.3

Apr 2013

0.9

May 2013

0.9

Jun 2013

1.7

Jul 2013

2.0

Aug 2013

1.7

Sep 2013

1.1

Oct 2013

1.3

Nov 2013

1.1

Dec 2013

1.2

Jan 2014

1.3

Feb 2014

1.2

Mar 2014

1.6

Apr 2014

1.8

May 2014

2.1

Jun 2014

1.8

Jul 2014

1.9

Aug 2014

1.9

Sep 2014

1.6

Oct 2014

1.5

Nov 2014

1.3

Dec 2014

0.9

Jan 2015

0.0

Feb 2015

-0.5

Mar 2015

-0.9

Apr 2015

-1.1

May 2015

-0.8

Jun 2015

-0.5

Jul 2015

-0.7

Aug 2015

-1.0

Sep 2015

-1.1

Oct 2015

-1.4

Nov 2015

-1.3

Dec 2015

-1.1

Jan 2016

0.0

Feb 2016

0.1

Mar 2016

-0.1

Apr 2016

0.2

May 2016

0.0

Jun 2016

0.2

Jul 2016

0.0

Aug 2016

0.0

Sep 2016

0.6

Oct 2016

1.1

Nov 2016

1.3

Dec 2016

1.7

Jan 2017

1.7

Feb 2017

2.0

Mar 2017

2.2

Apr 2017

2.5

May 2017

2.3

Jun 2017

1.9

Jul 2017

2.0

Aug 2017

2.4

Sep 2017

2.6

Oct 2017

2.8

Nov 2017

3.0

Dec 2017

2.5

Jan 2018

2.6

Feb 2018

2.8

Mar 2018

2.9

Apr 2018

2.7

May 2018

3.1

Jun 2018

3.3

Jul 2018

3.4

Aug 2018

3.0

Sep 2018

2.7

Oct 2018

3.1

Nov 2018

2.6

Dec 2018

2.6

Jan 2019

1.9

Feb 2019

1.9

Mar 2019

2.0

Apr 2019

2.4

May 2019

2.1

Jun 2019

1.6

Jul 2019

1.6

Aug 2019

1.9

Sep 2019

1.5

Oct 2019

1.0

Nov 2019

1.0

Dec 2019

1.4

Jan 2020

2.1

Feb 2020

1.3

Mar 2020

0.7

Apr 2020

-1.2

Note: All Producer Price Index data are subject to revision 4 months after originally published.

Most of the broad-based decrease is attributable to prices for final demand energy, which fell 29.6 percent over the year. Final demand prices for gasoline dropped 67.0 percent. Prices for jet fuel, diesel fuel, and home heating oil also decreased.  

Prices for final demand goods less foods and energy increased 0.1 percent, which includes pharmaceutical prices up 2.1 percent and cigarette prices up 4.8 percent since April 2019. 

Prices for final demand foods increased 0.3 percent. Prices for fresh and dry vegetables and fresh fruits and melons both decreased by more than 7.0 percent, while meat prices rose 1.0 percent.

Producer Price Index for final demand, 12-month percent change, by grouping, not seasonally adjusted, April 2020
Grouping 12-month percent change

Goods

-5.0%

Energy

-29.6

Gasoline

-67.0

Jet fuel

-61.0

No. 2 diesel fuel

-47.7

Home heating oil and distillates

-47.3

Residential natural gas

-2.2

Residential electric power

-0.1

Goods less foods and energy

0.1

Industrial chemicals

-18.2

Trucks, 14,000 lbs. and under

-1.4

Passenger cars

-1.0

Aircraft and aircraft equipment

1.2

Pharmaceutical preparations

2.1

Cigarettes, including nontobacco

4.8

Foods

0.3

Fresh and dry vegetables

-7.5

Fresh fruits and melons

-7.3

Dairy products

-2.4

Processed poultry

-1.0

Soft drinks

0.6

Meats

1.0

Services

0.8

Transportation and warehousing services

-6.3

Airline passenger services

-20.7

Water transportation of freight

-4.2

Air transportation of freight

-1.8

Truck transportation of freight

-1.4

Rail transportation of freight and mail

0.2

Courier, messenger, and U.S. postal service

3.1

Less trade, transportation, and warehousing

0.3

Traveler accommodation services

-17.8

Loan services (partial)

-12.8

Securities brokerage, dealing, investment advice, and related services

-11.6

Portfolio management

-7.0

Outpatient care (partial)

1.6

Inpatient care

3.2

Trade services

3.4

Machinery and equipment and parts and supplies wholesaling

-0.5

Automobiles and automobile parts retailing

-0.4

Apparel, jewelry, footwear, and accessories retailing

-0.2

Health and beauty retailing, including optical goods

2.3

Food and alcohol retailing

3.0

Fuels and lubricants retailing

80.8

Note: All data are subject to revision 4 months after originally published.

The index for final demand services fell 0.8 percent over the recent April-to-April period. Prices for final demand transportation and warehousing services declined 6.3 percent. Within the transportation grouping, prices for airline passenger services decreased 20.7 percent. Final demand services, less trade, transportation, and warehousing prices increased 0.3 percent, with prices for traveler accommodation services decreasing 17.8 percent, while outpatient care and inpatient care prices increased 1.6 and 3.2 percent, respectively. Margins for final demand trade services increased 3.4 percent.

These data are from the Producer Price Indexes program and are not seasonally adjusted. To learn more, see "Producer Price Indexes — April 2020." Also see Charts related to the latest "U.S. Producer Price Indexes" news release. Producer price indexes measure prices U.S. producers receive for goods, services, and construction. All producer price data are subject to revision 4 months after initial publication.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Producer price final demand index down 1.2 percent for the year ended April 2020 on the Internet at https://www.bls.gov/opub/ted/2020/producer-price-final-demand-index-down-1-point-2-percent-for-the-year-ended-april-2020.htm (visited August 11, 2020).

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