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Final demand producer prices up 1.6 percent over the year ended August 2023

September 19, 2023

The Producer Price Index for final demand increased 1.6 percent (not seasonally adjusted) for the 12 months ended in August 2023. The 12-month percent change in total final demand prices was 0.1 percent in June and 0.8 percent in July 2023. A year earlier, in August 2022, final demand producer prices had increased 8.7 percent in the preceding 12 months.

Producer Price Indexes for final demand, 12-month percent change, January 2018–August 2023, not seasonally adjusted
Month Total final demand Total less foods, energy, and trade services   Goods     Foods     Energy   Goods less foods and energy   Services   Trade services Transportation and warehousing services

Jan 2018

2.6 2.5 3.2 1.9 8.7 2.1 2.2 1.4 2.3

Feb 2018

2.8 2.7 3.1 0.6 9.0 2.2 2.7 2.6 3.1

Mar 2018

2.9 2.9 3.3 1.9 8.6 2.3 2.8 1.8 4.9

Apr 2018

2.7 2.6 3.0 -0.6 9.4 2.2 2.5 1.7 4.5

May 2018

3.1 2.7 4.3 0.6 15.9 2.5 2.4 1.4 5.0

Jun 2018

3.3 2.7 4.4 -1.1 17.5 2.6 2.7 2.4 5.6

Jul 2018

3.4 3.0 4.4 -1.3 17.0 2.8 2.7 2.0 6.2

Aug 2018

3.0 3.0 3.9 -1.1 13.9 2.8 2.5 1.2 5.8

Sep 2018

2.7 3.1 3.4 -1.2 10.0 2.8 2.5 0.9 6.1

Oct 2018

3.1 3.0 3.8 -0.6 12.6 2.7 2.6 1.6 6.6

Nov 2018

2.6 2.9 2.6 0.4 4.1 2.7 2.6 2.0 6.4

Dec 2018

2.6 2.8 1.6 2.8 -3.1 2.6 3.0 3.1 6.5

Jan 2019

1.9 2.6 0.6 1.3 -7.4 2.5 2.6 2.5 6.4

Feb 2019

1.9 2.4 0.7 1.6 -6.5 2.3 2.4 2.4 4.5

Mar 2019

2.0 2.2 1.2 0.0 -0.9 2.1 2.3 2.7 3.6

Apr 2019

2.4 2.4 1.7 1.2 1.2 1.9 2.7 3.3 3.9

May 2019

2.1 2.4 0.8 0.6 -2.2 1.6 2.7 2.7 3.9

Jun 2019

1.6 2.1 0.0 2.3 -6.8 1.3 2.3 2.2 3.1

Jul 2019

1.6 1.9 0.3 2.6 -5.3 1.2 2.3 2.7 2.9

Aug 2019

1.9 1.9 -0.1 2.3 -6.7 1.0 2.7 3.9 2.5

Sep 2019

1.5 1.7 -0.5 2.7 -8.4 0.9 2.3 3.2 1.1

Oct 2019

1.0 1.5 -0.6 3.2 -8.8 0.7 1.9 2.2 0.9

Nov 2019

1.0 1.4 0.2 3.4 -4.4 0.6 1.4 0.8 0.1

Dec 2019

1.4 1.5 1.0 1.2 2.4 0.6 1.4 0.8 2.2

Jan 2020

2.0 1.5 1.8 2.8 6.4 0.6 1.9 1.5 0.7

Feb 2020

1.1 1.4 0.6 1.1 0.1 0.6 1.4 0.7 1.0

Mar 2020

0.3 1.0 -1.7 0.7 -12.6 0.4 1.3 1.4 -1.8

Apr 2020

-1.5 -0.1 -5.2 0.3 -30.7 0.2 0.3 1.7 -5.7

May 2020

-1.1 -0.2 -3.6 6.5 -27.5 0.2 0.2 1.5 -4.9

Jun 2020

-0.7 0.1 -2.6 0.6 -17.2 0.3 0.3 1.2 -3.9

Jul 2020

-0.3 0.3 -2.2 -0.4 -14.2 0.5 0.7 1.9 -4.7

Aug 2020

-0.3 0.4 -1.6 -0.1 -12.3 0.8 0.3 1.1 -5.2

Sep 2020

0.3 0.8 -1.0 1.3 -11.7 1.1 0.9 1.7 -4.2

Oct 2020

0.6 0.9 -1.0 2.2 -12.6 1.0 1.3 2.5 -3.4

Nov 2020

0.8 1.0 -0.8 0.9 -11.0 1.3 1.6 3.1 -3.8

Dec 2020

0.8 1.3 0.0 -0.2 -6.8 1.7 1.3 1.9 -5.9

Jan 2021

1.6 1.9 1.3 1.2 -2.7 2.3 1.8 2.3 -4.1

Feb 2021

3.0 2.3 3.5 4.5 5.9 2.7 2.6 3.4 -2.9

Mar 2021

4.1 3.1 7.0 5.1 23.7 3.6 2.9 2.6 1.6

Apr 2021

6.5 4.8 10.9 7.3 48.9 4.8 4.5 3.8 9.0

May 2021

7.0 5.3 11.1 4.3 46.4 6.1 5.1 5.8 7.8

Jun 2021

7.6 5.6 11.9 10.9 36.0 7.0 5.5 6.8 8.0

Jul 2021

8.0 6.0 12.1 10.4 33.9 7.6 6.0 7.6 11.4

Aug 2021

8.7 6.2 12.7 13.0 33.0 8.0 6.8 10.0 13.2

Sep 2021

8.8 6.1 13.4 13.3 36.2 8.3 6.7 10.4 11.3

Oct 2021

8.9 6.2 14.3 10.6 43.0 8.9 6.2 9.4 10.9

Nov 2021

9.9 7.0 14.9 11.8 42.9 9.4 7.5 11.8 14.6

Dec 2021

10.0 7.0 13.4 13.1 31.6 9.3 8.4 14.2 17.0

Jan 2022

10.1 6.9 13.6 13.2 31.3 9.4 8.2 14.8 15.9

Feb 2022

10.4 6.7 14.4 14.0 33.0 9.7 8.4 16.4 16.8

Mar 2022

11.7 7.1 15.8 16.1 37.4 10.0 9.4 18.9 21.8

Apr 2022

11.2 6.8 16.4 16.3 39.8 10.2 8.3 16.7 20.6

May 2022

11.1 6.8 16.7 13.6 44.9 9.8 8.0 15.3 23.4

Jun 2022

11.2 6.4 17.6 12.5 52.9 9.2 7.8 14.8 22.9

Jul 2022

9.7 5.8 14.7 15.1 35.8 8.5 6.9 13.8 19.1

Aug 2022

8.7 5.6 12.3 12.8 26.6 8.1 6.5 12.5 16.8

Sep 2022

8.5 5.6 11.3 12.0 24.0 7.5 6.7 12.4 17.8

Oct 2022

8.2 5.5 10.5 13.0 21.3 6.7 6.7 11.9 16.9

Nov 2022

7.4 4.9 9.6 15.3 16.3 6.1 6.0 10.7 12.9

Dec 2022

6.4 4.7 7.9 14.3 9.4 5.8 5.3 9.2 10.8

Jan 2023

5.7 4.4 7.7 11.2 11.1 5.6 4.5 6.9 10.5

Feb 2023

4.7 4.5 5.3 6.7 4.6 5.1 4.2 5.0 7.8

Mar 2023

2.7 3.7 1.9 4.5 -7.3 4.3 2.7 2.1 1.2

Apr 2023

2.3 3.4 0.7 2.5 -8.3 3.3 2.8 2.2 -3.2

May 2023

1.1 2.9 -2.3 0.6 -18.3 2.7 2.6 2.4 -6.0

Jun 2023

0.1 2.8 -4.3 0.5 -23.9 2.0 2.2 0.8 -6.8

Jul 2023

0.8 2.9 -2.4 -0.3 -16.1 1.9 2.5 0.6 -6.4

Aug 2023

1.6 3.0 0.5 -0.7 -2.8 1.8 2.2 -0.7 -4.1

Note: Producer price data are subject to revision in each month after initial publication before becoming final 4 months after initial publication.

Prices for final demand less foods, energy, and trade services rose 3.0 percent for the year ended August 2023, the largest increase since moving up 3.4 percent for the 12 months ended in April 2023.

Prices for final demand goods increased 0.5 percent over the year ended in August 2023 after 12-month decreases in May, June, and July.

Within the final demands goods category, producer prices for foods and energy decreased 0.7 percent and 2.8 percent, respectively, over the year ended August 2023. Producer prices for final demand goods not including foods and energy increased 1.8 percent over the year.

Prices for final demand services increased 2.2 percent over the past year.

Prices for final demand trade services decreased 0.7 percent, while transportation and warehousing services were down 4.1 percent over the past 12 months.

These data are from the Producer Price Indexes program and are not seasonally adjusted. To learn more, see "Producer Price Indexes — August 2023." Producer price indexes measure prices U.S. producers receive for goods, services, and construction. Also see charts of the latest Producer Price Indexes data.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Final demand producer prices up 1.6 percent over the year ended August 2023 at https://www.bls.gov/opub/ted/2023/final-demand-producer-prices-up-1-6-percent-over-the-year-ended-august-2023.htm (visited April 20, 2024).

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