The 2020 Mid-Year Economic Update_long

Wholesale Prices Up Slightly in May

The May gain came from a 0.3% increase in the wholesale price of services.

The Producer Price Index for final demand rose 0.1% in May, seasonally adjusted, according to the U.S. Bureau of Labor Statistics. Final demand prices increased 0.2% in April and 0.6% in March. On an unadjusted basis, the final demand index increased 1.8% for the 12 months ended in May.

The entire gain in May came from a 0.3% increase in the wholesale price of services. Goods prices fell 0.2%. The cost of goods declined 0.2%, as gasoline prices fell, after rising 0.3% in April.

The index for final demand less foods, energy, and trade services moved up 0.4% in May, the same as in April. For the 12 months ended in May, prices for final demand less foods, energy and trade services increased 2.3%.

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