HOUSTON, Nov. 9 (Xinhua) — U.S. Producer Price Index (PPI) for final demand increased by 0.6 percent in October, seasonally adjusted, the U.S. Department of Labor reported on Friday.
Final demand prices advanced 0.2 percent in September and declined 0.1 percent in August. On an unadjusted basis, the final demand index increased by 2.9 percent for the 12 months ending in October.
In October, over 60 percent of the increase in final demand prices can be traced to a 0.7-percent rise in the index for final demand services, the largest advance since climbing 0.8 percent in January 2016.
Nearly three-fourths of the broad-based October rise can be traced to margins for final demand trade services, which moved up 1.6 percent.
The index for final demand goods climbed by 0.6 percent in October, the largest rise since the 0.9-percent increase in May. Nearly three-fourths of the October increase can be traced to prices for final demand energy, which moved up 2.7 percent.
The index for final demand foods rose by 1.0 percent. Prices for final demand goods less foods and energy remained unchanged.
Over 60 percent of the October increase in prices for final demand goods was attributable to the gasoline index, which jumped 7.6 percent. For the 12 months ending in October, prices for final demand less foods, energy, and trade services advanced 2.8 percent.