Market Updates
June Producer Price Index Soars 11.3%
Brian Turner
14 Jul, 2022
New York City
The producer price index soared 11.3% in June from a year ago and increased 1.1% on a monthly basis, the Bureau of Labor Statistics reported Thursday.
On a monthly basis producer price index increased 0.9% in May and jumped 0.4% in April.
Core producer price index, excluding food and energy, rose 6.4% in June.
The index for final demand goods moved up 2.4% in June, the sixth monthly increase in a row.
Nearly 90% of the June increase can be traced to a 10.0-percent jump in prices for final demand energy.
The indexes for final demand goods less foods and energy and for final demand foods advanced 0.5% and 0.1%, respectively.
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