Producer Price Index for final Demand Increased 0.7 Percent In August, Largest In 1 Year

CITY OF WASHINGTON (September 10, 2021)—The Producer Price Index for final demand increased 0.7 percent in August, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices moved up 1.0 percent in July, the same as in June. (See table A.) On an unadjusted basis, the final demand index rose 8.3 percent for the 12 months ended in August, the largest advance since 12-month data were first calculated in November
2010.

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Leading the August increase in the index for final demand, prices for final demand services rose 0.7 percent. The index for final demand goods moved up 1.0 percent. Prices for final demand less foods, energy, and trade services moved up 0.3 percent in August after increasing 0.9 percent in July. For the 12 months ended in August, the index for final demand less foods,
energy, and trade services rose 6.3 percent, the largest advance since 12-month data were first calculated in August 2014. 

N.C. Retired Governmental Employees’ Association tweeted “The high #inflation affects everything, but it is driving energy prices through the roof. Older people on fixed incomes, such as pensioners, still have to pay for heating and air, and the high inflation is expected to run for years. State pensioners need a recurring Cost-of-Living Adjustment (COLA).”

 

Source: Bureau of Labor and Statistics 

Read the entire report here.

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