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Final demand producer prices up 2.6 over the year ended June 2024
July 19, 2024
The Producer Price Index for final demand rose 2.6 percent for the 12 months ended in June 2024, not seasonally adjusted. This was the largest 12-month increase since moving up 2.7 percent for the year ended March 2023.
Producer price index 12-month percent changes for Final Demand, June 2024, not seasonally adjusted
Grouping
12-month percent change, June 2023–June 2024
Relative importance, December 2023
Final demand, total
2.6
100.000
Final demand goods
1.0
30.162
Final demand foods
1.1
5.633
Final demand energy
-1.4
5.517
Final demand goods less foods and energy
1.8
19.012
Final demand services
3.5
67.184
Final demand trade services
2.7
19.195
Final demand transportation and warehousing services
0.2
4.931
Final demand services less trade, transportation, and warehousing
4.2
43.059
Final demand construction
-0.6
2.654
Construction for private capital investment
-0.7
1.844
Construction for government
-0.5
0.810
Prices for final demand goods, which accounted for around 30 percent of the final demand index with a weight (or relative importance) of 30.162, increased 1.0 percent for the year ended June 2024. Prices for final demand foods increased 1.1 percent, while the index for final demand energy decreased 1.4 percent. Prices for final demand goods less foods and energy increased 1.8 percent from June 2023 to June 2024.
Prices for final demand services, which made up 67 percent of total final demand, increased 3.5 percent for the year ended June 2024. Within the final demand services grouping, prices for trade services increased 2.7 percent, transportation and warehousing services prices were little changed at 0.2 percent, while services less trade, transportation, and warehousing increased 4.2 percent.
Final demand construction prices decreased 0.6 percent over the 12 months ended June 2024 and accounted for the remainder of total final demand.
These data are from the Producer Price Indexes program and are not seasonally adjusted. To learn more, see "Producer Price Indexes — June 2024." 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 of the latest Producer Price Indexes data.
United States Department of Labor
