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Producer prices for final demand down 0.8 percent for the year ended May 2020

June 18, 2020

The Producer Price Index for final demand declined 0.8 percent from May 2019 to May 2020. Prices for final demand less foods, energy, and trade services moved down 0.4 percent, the largest 12-month decrease since the index began in August 2013.

Producer Price Index for final demand components, 12-month percent change, not seasonally adjusted, May 2020
Commodity 12-month percent change

Goods

-3.3%

Foods

6.9

Fresh fruits and melons

7.1

Fresh and dry vegetables

-9.7

Meats

43.3

Processed poultry

1.0

Dairy products

-6.6

Soft drinks

2.0

Energy

-26.0

Residential electric power

-0.3

Residential natural gas

-0.7

Gasoline

-52.5

Jet fuel

-66.9

Home heating oil and distillates

-65.4

No. 2 diesel fuel

-53.9

Goods less foods and energy

0.2

Industrial chemicals

-20.2

Pharmaceutical preparations

2.2

Passenger cars

-0.4

Trucks, 14,000 lbs. and under

-0.4

Aircraft and aircraft equipment

1.3

Cigarettes, including nontobacco

4.8

Services

0.3

Trade services

2.7

Machinery and equipment and parts and supplies wholesaling

-0.5

Food and alcohol retailing

3.0

Health and beauty retailing, including optical goods

3.4

Apparel, jewelry, footwear, and accessories retailing

1.8

Automobiles and automobile parts retailing

-4.6

Fuels and lubricants retailing

47.2

Transportation and warehousing services

-5.4

Rail transportation of freight and mail

-1.3

Truck transportation of freight

-4.1

Water transportation of freight

-4.3

Air transportation of freight

-0.3

Courier, messenger, and U.S. postal service

2.7

Airline passenger services

-12.1

Less trade, transportation, and warehousing

-0.2

Loan services (partial)

-18.5

Securities brokerage, dealing, investment advice, and related services

-20.4

Portfolio management

-4.5

Outpatient care (partial)

1.8

Inpatient care

3.3

Traveler accommodation services

-23.0

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

Over the year ended May 2020, energy prices were down 26.0 percent and meat prices were up 43.3 percent. Prices for airline passenger services decreased 12.1 percent.

These data are from the Producer Price Indexes program and are not seasonally adjusted. To learn more, see "Producer Price Indexes — May 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 prices for final demand down 0.8 percent for the year ended May 2020 on the Internet at https://www.bls.gov/opub/ted/2020/producer-prices-for-final-demand-down-0-point-8-percent-for-the-year-ended-may-2020.htm (visited August 04, 2020).

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