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The U.S. Bureau of Labor Statistics reported that the Producer Price Index (PPI) for final demand remained unchanged in November, following a decrease of 0.4 percent in October and a rise of 0.4 percent in September. This stability reflects a balanced change in prices for both goods and services. On an unadjusted basis, the index for final demand showed a 0.9 percent increase over the 12 months ending in November.
The indexes for final demand goods and final demand services both recorded no change in November, a BLS press release said.
The stability in final demand goods came after a significant 1.4 percent drop in October. Notably, a decrease in the index for final demand energy was offset by increases in final demand foods and goods less foods and energy. Specifically, within the final demand goods, notable price jumps were seen in chicken eggs, which surged 58.8 percent, and other products like fresh fruits and melons, and utility natural gas also saw price increases. Conversely, gasoline prices fell by 4.1 percent.
The index for final demand less foods, energy, and trade services edged up slightly by 0.1 percent in November, marking the sixth consecutive month of advance. Over the 12 months ending in November, this index rose 2.5 percent.
Regarding final demand services, the index remained steady, mirroring its October performance. Within this category, the index for final demand services less trade, transportation, and warehousing also inched up by 0.1 percent. However, there were declines in the indexes for final demand trade services and final demand transportation and warehousing services, dropping 0.2 percent and 0.5 percent, respectively.
In the realm of product details, prices for traveler accommodation services rose notably by 4.0 percent. Other service areas like health, beauty, and optical goods retailing, and food and alcohol wholesaling also recorded price advances. In contrast, the margins for automobile retailing declined by 5.1 percent.
The report also highlighted trends in intermediate demand by commodity type. For processed goods for intermediate demand, prices remained unchanged in November, following a 1.0 percent decline in October. The index for unprocessed goods for intermediate demand fell 1.4 percent in November, with crude petroleum prices dropping significantly by 9.5 percent. Meanwhile, the index for services in intermediate demand rose by 0.2 percent.