PPI index slips single point in May
ABJ - June 19 - The Producer Price Index for finished goods fell one per cent in May, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Prices for finished goods moved down 0.2 per cent in April and were unchanged in March.
At the earlier stages of processing, prices received by manufacturers of intermediate goods decreased 0.8 per cent in May and the crude goods index fell 3.2 per cent. On a non-adjusted basis, prices for finished goods advanced 0.7 per cent for the 12 months ended in May, the eighth straight month of slowing year-over-year increases following a seven per cent rise for the 12 months ended September 2011.
In May, the decrease in finished goods prices was led by the index for finished energy goods, which declined 4.3 per cent. Prices for finished consumer foods fell 0.6 per cent. By contrast, the index for finished goods less foods and energy advanced 0.2 per cent.
The index for finished energy goods fell 4.3 per cent in May, the largest decline since a 4.6 per cent decrease in March 2009. An 8.9 per cent drop in the gasoline index accounted for more than 80 per cent of the May decline.