U.S. Producer Price Index (PPI) for final demand rose 0.6% in February, seasonally adjusted. Final demand prices increased 0.3% in January and edged down 0.1% in December 2023. On an unadjusted basis, the final demand index advanced 1.6% for the 12 months ended in February, the largest rise since moving up 1.8% for the 12 months ended September 2023, as the U.S. Bureau of Labor Statistics reported.
In February, nearly two-thirds of the rise in final demand prices can be traced to the index for final demand goods, which advanced 1.2%. Prices for final demand services moved up 0.3%.
The index for final demand less foods, energy, and trade services increased 0.4% in February after rising 0.6% in January. For the 12 months ended in February, prices for final demand less foods, energy, and trade services moved up 2.8%.
The seasonally adjusted PPI for softwood lumber fell for the seventh consecutive month, down 2.98% in February, according to the National Association of Home Builders (NAHB). Softwood lumber prices were 10.35% lower in February 2024 when compared to 2023. Prices for lumber will likely start to creep upwards as single-family home construction enters the spring season and demand for lumber increases.
Bild: NAHB
The non-seasonally adjusted PPI for gypsum building materials jumped 2.95% in February after falling for ten straight months. The index was 0.18% lower than one year ago.
Bild: NAHB
