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Producer Price Index unch% in November 2023, ex Fd & Engy up 0.2%
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The Producer Price Index for final demand was unchanged in November, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices decreased 0.4 percent in October and rose 0.4 percent in September. On an unadjusted basis, the index for final demand increased 0.9 percent for the 12 months ended in November. In November, the indexes for both final demand goods and for final demand services were unchanged.
The index for final demand less foods, energy, and trade services edged up 0.1 percent in November, the sixth consecutive advance. For the 12 months ended in November, prices for final demand less foods, energy, and trade services rose 2.5 percent.
Final Demand
Final demand goods: The index for final demand goods was unchanged in November after dropping 1.4 percent in October. In November, price increases of 0.6 percent for final demand foods and 0.2 percent for final demand goods less foods and energy offset a 1.2-percent decrease in the index for final demand energy.
Product detail: Within final demand goods in November, prices for chicken eggs jumped 58.8 percent. The indexes for fresh fruits and melons, utility natural gas, electric power, and carbon steel scrap also moved higher. In contrast, prices for gasoline fell 4.1 percent. The indexes for processed poultry, industrial chemicals, jet fuel, and liquefied petroleum gas also moved lower.
Final demand services: The index for final demand services remained unchanged in November, the same as in October. In November, prices for final demand services less trade, transportation, and warehousing edged up 0.1 percent. Conversely, the indexes for final demand trade services and for final demand transportation and warehousing services declined, 0.2 percent and 0.5 percent, respectively. (Trade indexes measure changes in margins received by wholesalers and retailers.)
Product detail: Within the index for final demand services in November, prices for traveler accommodation services rose 4.0 percent. The indexes for deposit services (partial); health, beauty, and optical goods retailing; food and alcohol wholesaling; and apparel, footwear, and accessories retailing also advanced. In contrast, margins for automobile retailing (partial) declined 5.1 percent. The indexes for chemicals and allied products wholesaling, portfolio management, furniture retailing, and truck transportation of freight also fell.
Posted: December 13, 2023 Wednesday 08:30 AM