The Producer Price Index for last need increased 1.1% in June, seasonally changed, the U.S. Bureau of Labor Statistics reported today. This increase followed advances of 0.9% in May and 0.4% in April. On an unadjusted basis, the last need index went up 11.3% for the 12 months ended June 2022, the biggest boost considering that a record 11.6% dive in March 2022.
Prices for last need less foods, energy, and trade services increased 0.3% in June, after increasing 0.4% in May. For the 12 months ended in June, the index went up 6.4%.
The index for last need products increased 2.4% in June. Nearly 90% of the June boost can be traced to a 10.0% dive in rates for last need energy. The indexes for last need products less foods and energy and for last need foods advanced 0.5% and 0.1%, respectively.
The index for last need services increased 0.4% in June, following a 0.6% boost in May. Two-thirds of the broad-based advance in June can be traced to a 0.8% boost in margins for last need trade services. Prices for last need services less trade, transport, and warehousing and for last need transport and warehousing services likewise moved higher, 0.1% and 0.8%, respectively.
Read the BLS release.