Seasonally-adjusted US PPI for final demand rises by 0.7% in Aug

The August advance is the largest increase in final demand prices since moving up by 0.9 per cent in June last year.

On an unadjusted basis, the index for final demand rose by 1.6 per cent for the 12 months to August.

In August, four-fifths of the rise in final demand prices is attributable to a 2-per cent jump in the index for final demand for goods—the largest advance since increasing by 2.1 per cent in June last year.

The index for final demand excluding foods, energy, and trade services increased by 0.3 per cent in August, the same as in July. For the 12 months to August, prices for such demand rose by 3 per cent, the largest advance since moving up by 3.4 per cent for the 12 months to April.

The August rise is mostly attributable to prices for final demand energy, which surged 10.5 per cent. The index for final demand goods less foods and energy edged up 0.1 per cent. In contrast, prices for final demand foods declined 0.5 per cent.

Over three-fifths of the August rise in the index for final demand for goods can be traced to prices for gasoline, which jumped by 20 per cent.

ALCHEMPro News Desk (DS)