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Producer prices for final demand increased 6.2 percent from December 2021 to December 2022

January 23, 2023

Producer prices for final demand increased 6.2 percent from December 2021 to December 2022. This price increase was smaller than the December 2020 to December 2021 increase (10.0 percent).

12-month percent change in Producer Price Indexes for final demand, selected categories
CategoriesDec 2018 to Dec 2019Dec 2019 to Dec 2020Dec 2020 to Dec 2021Dec 2021 to Dec 2022

Total

1.4%0.8%10.0%6.2%

Goods

1.00.013.48.0

Foods

1.2-0.213.114.3

Energy

2.4-6.831.69.1

Goods less foods and energy

0.61.79.36.0

Services

1.41.38.45.0

Trade services

0.81.914.28.7

Transportation and warehousing services

2.2-5.917.010.8

Services less trade, transportation, and warehousing

1.81.74.82.5

Construction

3.91.212.218.5

Over the year ended December 2022, producer prices for final demand goods rose 8.0 percent. This increase reflects a 14.3-percent increase in producer prices for final demand foods, a 9.1-percent increase in producer prices for final demand energy, and a 6.0-percent increase in producer prices for final demand goods less foods and energy.

Producer prices for final demand services rose 5.0 percent over the year ended December 2022. This increase reflects an 8.7-percent increase in producer prices for final demand trade services, a 10.8-percent increase in producer prices for final demand transportation and warehousing services, and a 2.5-percent increase in producer prices for final demand services less trade, transportation, and warehousing.

Producer prices for final demand construction rose 18.5 percent.

These data are from the Producer Price Indexes program and are not seasonally adjusted. To learn more, see "Producer Price Indexes — December 2022." Producer price indexes measure prices U.S. producers receive for goods, services, and construction. All producer price data are subject to revision in each month after initial publication before becoming final 4 months after initial publication. 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 increased 6.2 percent from December 2021 to December 2022 at https://www.bls.gov/opub/ted/2023/producer-prices-for-final-demand-increased-6-2-percent-from-december-2021-to-december-2022.htm (visited January 30, 2023).

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