US' PPI for final demand up 0.3% in July: Bureau of Labor Statistics

On an unadjusted basis, the index for final demand advanced by 0.8 per cent over the 12 months ended in July. In terms of specific categories, prices for final demand goods saw a marginal increase of 0.1 per cent in July.

Breaking down the components further, the index for final demand less foods, energy, and trade services moved up 0.2 per cent in July 2023, marking the largest increase since a 0.3-per cent rise in February. For the 12 months ended in July, the prices in this category advanced 2.7 per cent, as per the Bureau of Labor Statistics.

The report also noted that the July increase in final demand goods was mainly attributable to the index for final demand foods, which rose by 0.5 per cent. Conversely, prices for final demand goods less foods and energy, and for final demand energy, remained unchanged in July.

ALCHEMPro News Desk (DP)