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Producer prices for final demand increased 2.4 percent over the year ended October 2024

December 04, 2024

The Producer Price Index for final demand advanced 2.4 percent from October 2023 to October 2024. Prices for final demand goods increased 0.2 percent over the year, while final demand prices for services rose 3.5 percent.

12-month percent changes in the Producer Price Index for selected final demand components, October 2024
Commodity 12-month percent change

Total

2.4

Goods

0.2

Foods

2.7

Energy

-8.6

Goods less foods and energy

2.2

Services

3.5

Trade services

1.8

Transportation and warehousing services

0.1

Services less trade, transportation, and warehousing

4.6

Note: Data are not seasonally adjusted and are subject to revision 4 months after originally published.

Producer prices for final demand goods included a 2.7-percent increase in prices for food and an 8.6-percent decrease in energy prices. In the services sector, prices for services less trade, transportation, and warehousing rose 4.6 percent since October 2023, while trade prices increased by 1.8 percent.

These data are from the Producer Price Index program and are not seasonally adjusted. To learn more, see "Producer Price Index — October 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.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Producer prices for final demand increased 2.4 percent over the year ended October 2024 at https://www.bls.gov/opub/ted/2024/producer-prices-for-final-demand-increased-2-4-percent-over-the-year-ended-october-2024.htm (visited February 11, 2025).

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