Final demand services prices increased 0.2 per cent in July, while construction prices rose 2.2 per cent. These gains offset a 0.7 per cent decline in final demand goods prices. Prices for final demand services excluding trade, transport and warehousing increased 0.6 per cent, while transport and warehousing services fell 1.8 per cent, BLS said in a press release.
US final-demand producer prices were unchanged in July, while the unadjusted index rose 4.7 per cent over 12 months.
Final-demand goods fell 0.7 per cent, led by energy, with thermoplastic resins and materials also lower.
For textile and apparel supply chains, softer freight and resin signals contrasted with higher services and construction prices.
The decline in goods prices was largely driven by a 3.1 per cent fall in final demand energy prices and a 0.9 per cent decrease in food prices. Gasoline prices fell 5.7 per cent, accounting for more than half of the monthly decline in final demand goods.
Within intermediate demand, processed goods prices fell 0.6 per cent, unprocessed goods prices declined 1.8 per cent, while services prices increased 0.5 per cent. Prices for processed goods for intermediate demand were 9.9 per cent higher than a year earlier.
The figures suggest easing price pressures across several goods categories, particularly energy, although services and construction costs continued to rise in July.
Fibre2Fashion News Desk
