The Producer Price Index for final demand fell 0.5 percent in July, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. This decline followed advances of 1.0 percent in June and 0.8 percent in May. (See table A.) On an unadjusted basis, final demand prices moved up 9.8 percent for the 12 months ended in July. In July, the decrease in the index for final demand is attributable to a 1.8-percent decline in prices for final demand goods. In contrast, the index for final demand services advanced 0.1 percent. Prices for final demand less foods, energy, and trade services moved up 0.2 percent in July ... (full story)

Wholesale prices fell in July for the first time in two years as a plunge in energy prices slowed the pace of inflation, the Bureau of Labor Statistics reported Thursday. The producer price index, which gauges the prices received for final demand products, fell 0.5% from June, the first month-over-month decrease since April 2020, the month after Covid-19 was declared a pandemic. Economists surveyed by Dow Jones had been expecting an increase of 0.2%. On an annual basis, the index rose 9.8%, the lowest rate since October 2021. That compares to an 11.2% increase in June and the record 11.6% gain in March. Most of the ... (full story)