The Producer Price Index for last need increased 0.7% in August on a seasonally changed basis, according to the U.S. Bureau of Labor Statistics. Final need rates increased 0.4% in July and decreased 0.1% in June. On an unadjusted basis, the index for last need went up 1.6% for the 12 months ended in August.
The index for last need less foods, energy and trade services increased 0.3% in August, the like in July. For the 12 months ended in August, rates for last need less foods, energy, and trade services advanced 3%, the biggest boost because the 3.4% boost for the 12 months ended in April.
Prices for last need items in August increased 2%, the biggest advance because increasing 2.1% in June 2022 and after a 0.3% boost in July 2023. In August, rates for last need foods less foods and energy edged up 0.1% and last need energy leapt 10.5%.
Prices for last need services went up 0.2% in August after increasing 0.5% in July. The index for last need services less trade, transport, and warehousing increased 0.3% in August. Margins for last need trade services decreased 0.3%. The index for last need transport and warehousing services increased 1.4%.
Read the BLS release.