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Producer prices for final demand increased 1.7 percent over the year ended August 2024
September 20, 2024
The Producer Price Index for final demand advanced 1.7 percent (not seasonally adjusted) from August 2023 to August 2024. Prices for final demand goods remained unchanged over the year, while final demand prices for services rose 2.6 percent.
Producer Price Index for selected final demand components, 12-month percent change, August 2024
Commodity
12-month percent change
Total
1.7
Goods
0.0
Foods
2.3
Energy
-8.4
Goods less foods and energy
2.1
Services
2.6
Trade
-0.5
Transportation and warehousing
1.0
Services less trade, transportation, and warehousing
4.2
Note: All data are subject to revision 4 months after originally published. Data are not seasonally adjusted
The producer prices for final demand goods included a 2.3-percent increase in prices for food and an 8.4-percent decrease in energy prices. In the services sector, prices for services less trade, transportation, and warehousing rose 4.2 percent since August 2023, while trade prices fell by 0.5 percent.
These data are from the Producer Price Indexes program and are not seasonally adjusted. To learn more, see "Producer Price Indexes — August 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. We also have more charts of the latest Producer Price Indexes data.
United States Department of Labor
