The U.S. Producer Price Index (PPI) for final demand increased by 0.2% in October 2024, seasonally adjusted, according to the Bureau of Labor Statistics.
The U.S. Producer Price Index (PPI) for final demand increased by 0.2% in October 2024, seasonally adjusted, according to the Bureau of Labor Statistics. This follows a 0.1% rise in September and a similar 0.2% increase in August. Over the 12 months ending in October, the PPI for final demand increased by 2.4% on an unadjusted basis.
The October increase was primarily driven by a 0.3% rise in prices for final demand services, while prices for final demand goods saw a modest gain of 0.1%. Excluding food, energy, and trade services, the core index for final demand increased by 0.3% in October, up from a 0.1% rise in September. Over the past year, core PPI rose by 3.5%, indicating underlying inflationary pressures in producer prices.
Source: U.S. Bureau of Labor Statistics
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