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Producer prices for final demand up 1.0 percent in 2023

January 18, 2024

In 2023, producer prices for final demand increased 1.0 percent. Over the year, prices for final demand services rose 1.8 percent, while prices for final demand goods fell 0.8 percent.

12-month percent change in Producer Price Indexes for final demand, December 2022–December 2023, not seasonally adjusted
Category Percent change

Final demand, total


Final demand services


Final demand trade services


Automobiles and parts retailing


Machinery and vehicle wholesaling


Automotive fuels and lubricants retailing


Health, beauty, and optical goods retailing


Final demand transportation and warehousing


Truck transportation of freight


Deep sea water transportation of freight


Airline passenger services


Courier, messenger, and U.S. postal services


Final demand services less trade, transportation and warehousing


Outpatient care (partial)


Inpatient care


Securities brokerage, dealing, investment advice, and related services


Guestroom rental


Final demand goods


Final demand foods


Fresh and dry vegetables


Chicken eggs


Dairy products


Beef and veal


Final demand energy


Diesel fuel




Utility natural gas


Electric power


Final demand goods less foods and energy


Tobacco products


Aircraft and aircraft equipment


Pharmaceutical preparations


Industrial chemicals


Note: For more information about "partial" coverage of an industry category, see

For the year ended December 2023, within final demand services, prices for outpatient care advanced 2.6 percent and prices for inpatient care were up 4.4 percent. The index for health, beauty, and optical goods retailing increased 4.8 percent and prices for courier, messenger, and U.S. postal services rose 5.7 percent. In contrast, the index for automobiles and parts retailing dropped 23.0 percent, prices for truck transportation of freight decreased 8.9 percent, and prices for guestroom rental declined 7.3 percent.

Within the goods sector of final demand, prices for diesel fuel fell 18.7 percent and prices for gasoline were down 5.3 percent. In addition, prices for fresh and dry vegetables dropped 51.2 percent, while prices for industrial chemicals were 9.0 percent lower.  Conversely, prices for tobacco products jumped 10.6 percent, prices for electric power increased 5.5 percent, and prices for beef and veal increased 20.4 percent in 2023.

These data are from the Producer Price Indexes program and are not seasonally adjusted. To learn more, see "Producer Price Indexes — December 2023." 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.


Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Producer prices for final demand up 1.0 percent in 2023 at (visited April 13, 2024).

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