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Producer prices for final demand rose 2.2 percent from July 2023 to July 2024
August 20, 2024
The Producer Price Index for final demand advanced 2.2 percent for the 12 months ended in July 2024. Over the same period, prices for final demand goods increased 1.7 percent, while prices for final demand services increased 2.6 percent.
Producer Price Index for selected final demand components, 12-month percent change, July 2024
Month
12-month percent change
Total
2.2
Goods
1.7
Foods
1.7
Energy
0.3
Goods less foods and energy
2.1
Services
2.6
Trade
-0.7
Transportation and warehousing
0.6
Services less trade, transportation, and warehousing
4.3
Note: Data are not seasonally adjusted
The increase in producer prices for final demand goods included a 2.1 percent increase in prices for goods less food and energy. In the services sector, prices for services less trade, transportation and warehousing rose 4.3 percent since July 2023, while trade prices fell by 0.7 percent.
These data are from the Producer Price Indexes program and are not seasonally adjusted. To learn more, see "Producer Price Indexes — July 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
