BLS: PPI Unch. in June as Goods Prices Rise, Services Slip


   
Miguel E. Andujar
DTN Refined Fuels Market Reporter

   

DAVENPORT, FL (DTN) --- The Producer Price Index for final demand was unchanged 
in June, seasonally adjusted, following a 0.3% increase in May and a 0.3% 
decline in April, the U.S. Bureau of Labor Statistics reported this morning. On 
an unadjusted basis, the index for final demand rose 2.3% year-on-year.

   In the month profiled, a 0.3% rise in prices for final demand goods offset a 
0.1% decline in the index for final demand services.

   "Prices for final demand goods rose 0.3% in June, the largest increase since 
moving up 0.3% in February," wrote BLS.

   Within final demand goods, over half of the increase was driven by goods 
excluding food and energy, which also rose 0.3%. Prices for final demand energy 
advanced 0.6%, while food prices rose 0.2%.

   Notable gains included gasoline, up 2.0%; residential electric power, up 
0.9%; meats, up 1.4%; and communication equipment, up 0.8%. In contrast, prices 
for chicken eggs dropped 21.8%. The index for natural gas liquids fell 1.1%, 
and thermoplastic resins and plastic materials declined 0.8%.

   The index for final demand services declined 0.1% in June after a 0.4% gain 
in May. The decline was led by a 0.1% decrease in services excluding trade, 
transportation, and warehousing. Prices for transportation and warehousing 
services fell 0.9%, while trade service margins were flat.

   Excluding food, energy, and trade services, the index for final demand was 
unchanged in June after inching up 0.1% in May. Over the past 12 months, this 
core measure increased 2.5%.




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