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Wholesale prices rose 1.8% in June, seasonally adjusted, according to the Bureau of Labor Statistics of the U.S. Department of Labor. At the earlier stages of processing, prices received by producers of intermediate goods climbed 1.9 percent in June after moving up 0.3 percent in the preceding month, and the crude goods index increased 4.6 percent following a 3.6-percent rise in May.
The June acceleration in finished goods prices was broad-based. The index for energy goods jumped 6.6 percent after advancing 2.9 percent in the prior month, prices for consumer foods increased 1.1 percent following a 1.6-percent drop in May, and the index for goods other than foods and energy rose 0.5 percent in June after edging down 0.1 percent in the previous month.
Before seasonal adjustment, the Producer Price Index for Finished Goods rose 1.9 percent in June to 174.1 (1982 = 100). From June 2008 to June 2009, finished goods prices declined 4.6 percent. Over the same period, the index for finished energy goods fell 25.2 percent and prices for finished consumer foods decreased 2.2 percent.
By contrast, partially offsetting the overall decline in finished goods prices, the index for finished goods other than foods and energy increased 3.3 percent for the 12 months ended in June. At the earlier stages of processing, prices received by manufacturers of intermediate goods moved down 12.5 percent and the crude goods index dropped 40.0 percent from June 2008 to June 2009.