EconomyProducer Price Index

Producer Price Index News Release summary – 2023 M06 Results – TheFinanceHeadline

Producer Price Index News Release summary

Transmission of material in this release is embargoed until                          USDL 23-1525
8:30 a.m. (ET) Thursday, July 13, 2023
Technical information:      (202) 691-7705  *  ppi-info@bls.gov  *  www.bls.gov/ppi
Media contact:              (202) 691-5902  *  PressOffice@bls.gov   

                             PRODUCER PRICE INDEXES - JUNE 2023

The Producer Price Index for final demand increased 0.1 percent in June, seasonally adjusted, the 
U.S. Bureau of Labor Statistics reported today. Final demand prices declined 0.4 percent in May 
and edged up 0.1 percent in April. (See table A.) On an unadjusted basis, the index for final 
demand advanced 0.1 percent for the 12 months ended in June.
	
In June, the increase in final demand prices can be traced to a 0.2-percent rise in the index for 
final demand services. Prices for final demand goods were unchanged.
The index for final demand less foods, energy, and trade services moved up 0.1 percent in June 
after no change in May. For the 12 months ended in June, prices for final demand less foods, 
energy, and trade services advanced 2.6 percent.
Final Demand
Final demand services: The index for final demand services increased 0.2 percent in June, the same 
as in May. Leading the June advance, prices for final demand services less trade, transportation, and 
warehousing moved up 0.3 percent. Margins for final demand trade services rose 0.2 percent. (Trade 
indexes measure changes in margins received by wholesalers and retailers.) In contrast, the index for 
final demand transportation and warehousing services decreased 0.9 percent. 
Product detail: A 5.4-percent advance in the index for deposit services (partial) was a major factor in 
the June increase in prices for final demand services. The indexes for food and alcohol retailing, 
traveler accommodation services, insurance, hospital inpatient care, and airline passenger services 
also moved higher. Conversely, prices for truck transportation of freight declined 2.1 percent. The 
indexes for food and alcohol wholesaling and for residential real estate loans (partial) also fell. (See 
table 2.)
Final demand goods: Prices for final demand goods were unchanged in June after decreasing 1.6 
percent in May. In June, a 0.7-percent rise in the index for final demand energy offset falling prices 
for final demand goods less foods and energy and for final demand foods, which declined 0.2 percent 
and 0.1 percent, respectively. 
Product detail: Within the index for final demand goods in June, prices for gasoline rose 3.4 percent. 
The indexes for electric power; beef and veal; chicken eggs; and medical, surgical, and personal aid 
devices also moved higher. In contrast, prices for iron and steel scrap dropped 10.8 percent. The 
indexes for diesel fuel, oilseeds, industrial chemicals, and residual fuels also decreased.

Table A. Monthly and 12-month percent changes in selected final demand price indexes, seasonally adjusted
MonthTotal
final
demand
Final
demand
less
foods,
energy,
and
trade
Final demand goodsFinal demand servicesChange
in final
demand
from 12
months
ago
(unadj.)
Change
in final
demand
less
foods,
energy,
and
trade
from 12
mo. ago
(unadj.)
TotalFoodsEnergyLess
foods
and
energy
TotalTradeTransportation
and
warehousing
Other

2022

June

0.90.32.1-0.18.40.50.30.50.80.111.26.4

July

-0.30.2-1.61.3-8.30.20.30.8-0.30.19.75.8

Aug.

0.00.2-0.8-0.2-4.40.20.51.0-1.10.48.75.6

Sept.

0.30.30.51.51.00.00.2-0.3-0.20.58.55.6

Oct.

0.30.20.40.71.50.00.20.20.00.28.25.5

Nov.

0.40.40.33.3-2.30.30.40.5-0.40.57.44.9

Dec.

-0.30.2-1.4-0.9-6.30.10.20.30.00.26.44.7

2023

Jan.

0.40.51.3-1.35.40.60.0-0.8-0.50.55.74.4

Feb.(1)

0.00.3-0.4-2.3-0.80.30.2-0.2-0.80.44.74.5

Mar.(1)

-0.40.1-1.10.2-6.10.2-0.1-0.6-0.70.22.73.7

Apr.(1)

0.10.10.1-0.40.50.20.0-0.2-2.40.42.13.3

May(1)

-0.40.0-1.6-1.4-6.80.10.20.7-0.50.00.92.8

June

0.10.10.0-0.10.7-0.20.20.2-0.90.30.12.6

Footnotes
(1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for February 2023 through May 2023 have been revised to reflect the availability of late reports and corrections by respondents.

Intermediate Demand by Commodity Type
Within intermediate demand in June, the index for processed goods fell 0.6 percent, prices for 
unprocessed goods decreased 2.1 percent, and the index for services was unchanged. (See tables B 
and C.)
Processed goods for intermediate demand: Prices for processed goods for intermediate demand 
moved down 0.6 percent in June, the fifth consecutive decline. Over half of the broad-based decrease 
in June can be traced to the index for processed materials less foods and energy, which fell 0.4 
percent. Prices for processed energy goods and for processed foods and feeds also moved lower, 
declining 0.9 percent and 1.0 percent, respectively. For the 12 months ended in June, the index for 
processed goods for intermediate demand fell 9.4 percent, the largest 12-month decrease since 
dropping 12.0 percent in September 2009.
Product detail: In June, a major factor in the decline in prices for processed goods for intermediate 
demand was the index for industrial chemicals, which fell 3.5 percent. Prices for diesel fuel, plastic 
resins and materials, fats and oils, utility natural gas, and residual fuels also decreased. Conversely, 
the index for gasoline rose 3.4 percent. Prices for beef and veal and for cold rolled steel sheet and 
strip also advanced.
Unprocessed goods for intermediate demand: The index for unprocessed goods for intermediate 
demand moved down 2.1 percent in June after dropping 5.0 percent in May. Leading the June 
decline, prices for unprocessed energy materials decreased 5.0 percent. The index for unprocessed 
nonfood materials less energy moved down 2.4 percent. In contrast, prices for unprocessed foodstuffs 
and feedstuffs increased 0.9 percent. For the 12 months ended in June, the index for unprocessed 
goods for intermediate demand declined 32.2 percent, the largest 12-month decrease since dropping 
35.0 percent in August 2009.
Product detail: Nearly three-quarters of the June decline in the index for unprocessed goods for 
intermediate demand is attributable to prices for crude petroleum, which fell 5.9 percent. The indexes 
for iron and steel scrap, raw milk, natural gas, oilseeds, and nonferrous metal ores also moved lower. 
Conversely, prices for slaughter steers and heifers advanced 8.3 percent. The indexes for coal and for 
construction sand, gravel, and crushed stone also rose.

Table B. Monthly and 12-month percent changes in selected intermediate demand price indexes for goods by commodity type, seasonally adjusted
MonthProcessed goods for intermediate demandUnprocessed goods for intermediate demand
TotalFoods
and
feeds
Energy
goods
Less
foods
and
energy
Total,
change
from 12
months
ago
(unadj.)
TotalFoodstuffs
and
feedstuffs
Energy
materials
Nonfood
materials
less
energy
Total,
change
from 12
months
ago
(unadj.)

2022

June

1.90.18.40.121.94.8-0.711.1-1.850.3

July

-2.10.5-8.0-0.417.2-8.8-1.1-14.2-5.932.5

Aug.

-1.2-0.2-3.7-0.614.34.8-0.910.90.536.9

Sept.

-0.1-0.12.0-0.812.9-3.11.3-6.6-0.629.2

Oct.

-0.2-0.21.5-0.810.1-9.7-0.7-18.1-4.19.3

Nov.

-0.50.8-1.9-0.27.6-3.10.0-6.7-0.73.5

Dec.

-2.5-0.6-9.8-0.44.81.5-0.25.2-1.710.7

2023

Jan.

1.10.24.90.13.9-4.7-5.8-7.02.12.8

Feb.(1)

-0.4-2.1-1.60.22.1-4.9-1.0-10.90.3-10.4

Mar.(1)

-1.0-0.2-3.9-0.2-1.0-4.7-0.7-11.1-0.9-16.8

Apr.(1)

-0.5-1.1-3.10.3-3.41.8-1.55.71.7-19.7

May(1)

-1.5-2.1-6.90.0-7.2-5.0-4.6-7.0-2.6-27.6

June

-0.6-1.0-0.9-0.4-9.4-2.10.9-5.0-2.4-32.2

Footnotes
(1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for February 2023 through May 2023 have been revised to reflect the availability of late reports and corrections by respondents.

Services for intermediate demand: The index for services for intermediate demand was unchanged 
in June after rising 0.3 percent in May. In June, prices for services less trade, transportation, and 
warehousing for intermediate demand inched up 0.1 percent. Offsetting this increase, the index for 
transportation and warehousing services for intermediate demand declined 0.4 percent, and margins 
for trade services for intermediate demand edged down 0.1 percent. For the 12 months ended in June, 
prices for services for intermediate demand advanced 4.4 percent.
Product detail: Within services for intermediate demand in June, prices for deposit services (partial) 
advanced 5.4 percent. The indexes for gross rents for retail properties, insurance, chemicals and 
allied products wholesaling, and arrangement of freight and cargo transportation also moved higher. 
In contrast, prices for truck transportation of freight fell 2.1 percent. The indexes for business loans 
(partial), food and alcohol wholesaling, gross rents for office buildings, and staffing services also 
decreased.  

Table C. Monthly and 12-month percent changes in selected intermediate demand price indexes for services by commodity type, seasonally adjusted
MonthServices for intermediate demand
TotalTradeTransportation
and
warehousing
OtherTotal, change
from 12 months
ago (unadj.)

2022

June

-0.3-0.50.1-0.36.3

July

0.30.21.10.15.9

Aug.

0.6-0.9-0.31.36.0

Sept.

0.50.1-0.40.86.2

Oct.

0.40.00.60.56.7

Nov.

0.80.9-1.31.26.9

Dec.

0.0-1.30.00.46.0

2023

Jan.

1.00.80.51.16.3

Feb.(1)

0.3-0.70.00.76.2

Mar.(1)

-0.31.0-0.9-0.54.6

Apr.(1)

0.71.2-1.11.04.5

May(1)

0.30.4-0.60.44.1

June

0.0-0.1-0.40.14.4

Footnotes
(1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for February 2023 through May 2023 have been revised to reflect the availability of late reports and corrections by respondents.

Intermediate Demand by Production Flow
Stage 4 intermediate demand: The index for stage 4 intermediate demand was unchanged in June 
after moving down 0.1 percent in May. In June, prices for both total goods inputs and for total 
services inputs to stage 4 intermediate demand also were unchanged. (See table D.) Increases in the 
indexes for gross rents for retail properties, gasoline, deposit services (partial), insurance, and 
chemicals and allied products wholesaling offset declines in the indexes for business loans (partial), 
food and alcohol wholesaling, gross rents for office buildings, diesel fuel, and machinery and 
equipment parts and supplies wholesaling. For the 12 months ended in June, prices for stage 4 
intermediate demand advanced 1.4 percent.
Stage 3 intermediate demand: The index for stage 3 intermediate demand fell 0.2 percent in June, 
the fifth consecutive decrease. In June, prices for total goods inputs to stage 3 intermediate demand 
declined 0.3 percent, and the index for total services inputs inched down 0.1 percent. Lower prices 
for raw milk, diesel fuel, industrial chemicals, business loans (partial), slaughter poultry, and cable 
network advertising time sales outweighed increases in the indexes for slaughter steers and heifers, 
slaughter hogs, and arrangement of freight and cargo transportation. For the 12 months ended in 
June, prices for stage 3 intermediate demand fell 7.5 percent, the largest 12-month decrease since 
dropping 8.1 percent in May 2020.
Stage 2 intermediate demand: The index for stage 2 intermediate demand declined 1.4 percent in 
June after falling 1.2 percent in May. In June, prices for total goods inputs to stage 2 intermediate 
demand moved down 3.2 percent, and the index for total services inputs decreased 0.2 percent. 
Lower prices for crude petroleum, gas fuels, business loans (partial), industrial chemicals, oilseeds, 
and iron and steel scrap outweighed advances in the indexes for deposit services (partial), 
arrangement of freight and cargo transportation, and coal. For the 12 months ended in June, prices for 
stage 2 intermediate demand declined 13.4 percent, the largest 12-month decrease since dropping 
13.5 percent in April 2015.
Stage 1 intermediate demand: The index for stage 1 intermediate demand moved down 0.2 percent 
in June, the fifth straight decline. In June, prices for total goods inputs to stage 1 intermediate 
demand fell 0.8 percent. Conversely, the index for total services inputs advanced 0.3 percent. 
Decreasing prices for diesel fuel, industrial chemicals, iron and steel scrap, residual fuels, truck 
transportation of freight, and fats and oils outweighed increases in the indexes for gross rents for 
retail properties, traveler accommodation services, and corn. For the 12 months ended in June, prices 
for stage 1 intermediate demand declined 4.7 percent, the largest 12-month decrease since dropping 
5.8 percent in June 2020.

Table D. Monthly percent changes in selected intermediate demand price indexes by production flow, seasonally adjusted
MonthStage 4 intermediate
demand
Stage 3 intermediate
demand
Stage 2 intermediate
demand
Stage 1 intermediate
demand
TotalGoods
inputs
Services
inputs
TotalGoods
inputs
Services
inputs
TotalGoods
inputs
Services
inputs
TotalGoods
inputs
Services
inputs

2022

June

0.31.0-0.30.51.4-0.52.95.30.11.02.4-0.6

July

-0.4-0.80.0-1.2-2.60.4-4.1-8.20.9-1.6-2.8-0.3

Aug.

0.30.00.6-1.3-2.60.13.04.81.2-0.4-1.20.5

Sept.

0.40.10.70.0-0.10.1-1.9-4.00.30.30.30.2

Oct.

0.1-0.10.2-0.1-0.60.5-4.7-9.80.80.1-0.20.4

Nov.

0.4-0.21.0-0.4-1.10.3-1.0-2.90.80.1-0.60.9

Dec.

-0.4-0.70.0-2.0-3.80.01.01.50.6-1.8-3.0-0.4

2023

Jan.

1.00.81.20.2-0.50.9-0.9-2.90.90.70.80.7

Feb.(1)

0.0-0.10.2-0.2-0.60.1-1.4-4.61.2-0.3-0.4-0.2

Mar.(1)

-0.2-0.50.0-0.7-1.1-0.4-2.5-4.9-0.7-0.4-1.00.2

Apr.(1)

0.3-0.20.8-0.2-1.20.71.21.90.8-0.1-0.70.6

May(1)

-0.1-0.60.3-1.3-2.90.1-1.2-3.70.6-0.9-1.80.0

June

0.00.00.0-0.2-0.3-0.1-1.4-3.2-0.2-0.2-0.80.3

Footnotes
(1) Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for February 2023 through May 2023 have been revised to reflect the availability of late reports and corrections by respondents.

________________
The Producer Price Index for July 2023 is scheduled to be released on Friday, August 11, 2023, 
at 8:30 a.m. (ET).
                                               *****
                                 Resampling of Industries - June 2023
Effective with the release of data for June 2023, the Producer Price Index (PPI) includes data for 
10 resampled industries classified according to the 2022 North American Industry Classification 
System (NAICS). The Bureau of Labor Statistics periodically updates the sample of producers 
providing data for the PPI to reflect current conditions more accurately when the structure, 
membership, technology, or product mix of an industry shifts. The first results of this systematic 
process were published in July 1986. Subsequent efforts have been completed at regular 
intervals.  
For information on index additions, deletions, and recodes effective June 2023, see the current 
issue of the PPI Detailed Report online at www.bls.gov/ppi/detailed-report/ppi-detailed-report-
june-2023.pdf, or contact the PPI Section of Index Analysis and Public Information at ppi-
info@bls.gov or (202) 691-7705.
NAICS
Code                    Industry
213118        Support activities for metal and nonmetallic minerals mining*
236221        New warehouse building construction
321215        Engineered wood member manufacturing
327310        Cement manufacturing
327410        Lime manufacturing
331318        Other aluminum rolling, drawing, and extruding
333120        Construction machinery manufacturing
333310        Commercial and service industry machinery manufacturing
337214        Office furniture, except wood, manufacturing
621512        Diagnostic imaging centers
*  PPI-constructed NAICS code 213118 combines data formerly included under NAICS 213114 
(Support activities for metal mining) and NAICS 213115 (Support activities for nonmetallic 
minerals, except fuels, mining).


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