June 2025 Producer Price Index

Historical release narrative reproduced from the official public-domain source. Statistical tables, standard technical appendices, administrative material and attendance rosters are omitted; formatting is adapted for reading. Figures retain the release's historical context and may have been revised. Consult the linked source for the complete document.

The Producer Price Index for final demand was unchanged in June, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today. Final demand prices increased 0.3 percent in May and declined 0.3 percent in April. (See table A.) On an unadjusted basis, the index for final demand rose 2.3 percent for the 12 months ended in June.

In June, a 0.3-percent advance in prices for final demand goods offset a 0.1-percent decrease in the index for final demand services.

Prices for final demand less foods, energy, and trade services were unchanged in June after inching up 0.1 percent in May. For the 12 months ended in June, the index for final demand less foods, energy, and trade services advanced 2.5 percent.

Final Demand

Final demand goods: Prices for final demand goods rose 0.3 percent in June, the largest increase since moving up 0.3 percent in February. Over half of the broad-based advance in June can be traced to the index for final demand goods less foods and energy, which climbed 0.3 percent. Prices for final demand energy and for final demand foods also rose, 0.6 percent and 0.2 percent, respectively.

Product detail: Within the index for final demand goods in June, prices for communication and related equipment increased 0.8 percent. The indexes for gasoline; residential electric power; canned, cooked, smoked, or prepared poultry; meats; and tree nuts also moved higher. In contrast, prices for chicken eggs dropped 21.8 percent. The indexes for natural gas liquids and for thermoplastic resins and plastics materials also declined. (See table 2.)

Final demand services: Prices for final demand services edged down 0.1 percent in June after increasing 0.4 percent in May. Leading the decrease, the index for final demand services less trade, transportation, and warehousing declined 0.1 percent. Prices for final demand transportation and warehousing services fell 0.9 percent, while margins for final demand trade services were unchanged. (Trade indexes measure changes in margins received by wholesalers and retailers.)

Product detail: Over half of the June decline in the index for final demand services can be attributed to prices for traveler accommodation services, which fell 4.1 percent. The indexes for automobiles and automobile parts retailing, deposit services (partial), airline passenger services, and food and alcohol wholesaling also decreased. Conversely, prices for portfolio management advanced 2.2 percent. The indexes for machinery, equipment, parts, and supplies wholesaling; furniture retailing; and apparel, jewelry, footwear, and accessories retailing also rose.

Intermediate Demand by Commodity Type

Within intermediate demand in June, prices for processed goods edged up 0.1 percent, the index for unprocessed goods rose 0.7 percent, and prices for services declined 0.1 percent. (See tables B and C.)

Processed goods for intermediate demand: The index for processed goods for intermediate demand edged up 0.1 percent in June, the third consecutive increase. The June rise can be attributed to prices for processed energy goods, which advanced 0.6 percent. In contrast, prices for processed foods and feeds declined 0.3 percent, while the index for processed materials less foods and energy was unchanged. For the 12 months ended in June, prices for processed goods for intermediate demand rose 1.9 percent, the largest 12-month advance since increasing 2.1 percent in February 2023.

Product detail: Leading the June increase in prices for processed goods for intermediate demand, the index for natural gas to electric utilities jumped 12.1 percent. Prices for industrial electric power, gasoline, fertilizer materials, and meats also rose. Conversely, the indexes for animal and marine feed, commercial electric power, thermoplastic resins and plastics materials, and particleboard and fiberboard also fell.

Unprocessed goods for intermediate demand: The index for unprocessed goods for intermediate demand rose 0.7 percent in June, the largest increase since jumping 5.8 percent in January. Nearly two-thirds of the June advance can be traced to prices for unprocessed energy materials, which moved up 1.4 percent. The index for unprocessed nonfood materials less energy rose 1.1 percent. In contrast, prices for unprocessed foodstuffs and feedstuffs declined 0.2 percent. For the 12 months ended in June, the index for unprocessed goods for intermediate demand fell 1.3 percent.

Product detail: Over half of the June rise in prices for unprocessed goods for intermediate demand is attributable to the index for natural gas, which advanced 5.9 percent. Prices for slaughter cattle, slaughter poultry, carbon steel scrap, slaughter hogs, and coal also increased. Conversely, the index for ungraded chicken eggs dropped 25.0 percent. Prices for aluminum base scrap and for crude petroleum also declined.

Services for intermediate demand: The index for services for intermediate demand inched down 0.1 percent in June after advancing 0.1 percent in May. Leading the decline, prices for services for intermediate demand less trade, transportation, and warehousing fell 0.1 percent. Margins for trade services for intermediate demand decreased 0.3 percent. In contrast, the index for transportation and warehousing services for intermediate demand rose 0.2 percent. For the 12 months ended in June, prices for services for intermediate demand increased 1.4 percent.

Product detail: Within services for intermediate demand in June, prices for deposit services (partial) fell 5.4 percent. The indexes for gross rents for office buildings, business loans (partial), food and alcohol wholesaling, and airline passenger services also moved lower. Conversely, prices for freight forwarding rose 8.0 percent. The indexes for gross rents for retail properties; portfolio management; and hardware, building materials, and supplies retailing also advanced.

Intermediate Demand by Production Flow

Stage 4 intermediate demand: In June, prices for stage 4 intermediate demand were unchanged for the second consecutive month. In June, the index for total goods inputs to stage 4 intermediate demand increased 0.2 percent. In contrast, prices for total services inputs edged down 0.1 percent. (See table D.) Advances in the indexes for industrial electric power, portfolio management, gross rents for retail properties, machinery and equipment parts and supplies wholesaling, and natural gas to electric utilities offset declines in the indexes for gross rents for office buildings; commercial electric power; deposit services (partial); securities brokerage, dealing, and investment advice; and food and alcohol wholesaling. For the 12 months ended in June, prices for stage 4 intermediate demand rose 2.2 percent.

Stage 3 intermediate demand: Prices for stage 3 intermediate demand decreased 0.2 percent in June following a 0.2-percent increase in May. In June, the index for total goods inputs to stage 3 intermediate demand fell 0.4 percent, while prices for total services inputs were unchanged. Declines in the indexes for ungraded chicken eggs, raw milk, deposit services (partial), paper and plastics products wholesaling, thermoplastic resins and plastics materials, and jet fuel outweighed rising prices for slaughter cattle, slaughter poultry, and freight forwarding. For the 12 months ended in June, the index for stage 3 intermediate demand advanced 1.4 percent.

Stage 2 intermediate demand: The index for stage 2 intermediate demand increased 0.2 percent in June, the first advance since moving up 1.9 percent in January. In June, prices for total goods inputs to stage 2 intermediate demand rose 0.6 percent. Conversely, the index for total services inputs decreased 0.2 percent. Increasing prices for natural gas, freight forwarding, maintenance and repair of nonresidential buildings (partial), coal, legal services, and non-corrugated paperboard outweighed declines in the indexes for deposit services (partial), business loans (partial), and natural gas liquids. For the 12 months ended in June, prices for stage 2 intermediate demand fell 1.1 percent, the largest 12-month decrease since moving down 1.9 percent in September 2024.

Stage 1 intermediate demand: The index for stage 1 intermediate demand inched down 0.1 percent in June after advancing 0.1 percent in May. In June, prices for total services inputs to stage 1 intermediate demand fell 0.2 percent. In contrast, the index for total goods inputs rose 0.1 percent. Decreasing prices for traveler accommodation services; airline passenger services; gross rents for office buildings; commercial electric power; and securities brokerage, dealing, and investment advice outweighed increases in the indexes for natural gas to electric utilities; hardware, building materials, and supplies retailing; gross rents for retail properties; and fertilizer materials. For the 12 months ended in June, prices for stage 1 intermediate demand advanced 1.9 percent.

Resampling of Industries - June 2025

Effective with the release of data for June 2025, the Producer Price Index (PPI) includes data for 11 resampled industries classified according to the 2022 North American Industry Classification System (NAICS). The Bureau of Labor Statistics periodically updates the sample of producers providing data for the PPI to reflect current conditions more accurately when the structure, membership, technology, or product mix of an industry shifts. The first results of this systematic process were published in July 1986. Subsequent efforts have been completed at regular intervals.

For information on index additions, deletions, and recodes effective June 2025, see the current issue of the PPI Detailed Report online at www.bls.gov/ppi/detailed-report/ppi-detailed-report- june-2025.pdf, or contact the PPI Section of Index Analysis and Public Information at ppi- info@bls.gov or (202) 691-7705.

NAICS Code Industry 212326 Industrial sand mining* 236223 New office building construction 312230 Tobacco manufacturing 321911 Wood window and door manufacturing 321912 Cut stock, resawing lumber, and planing 331410 Nonferrous metal (except aluminum) smelting and refining 333248 All other industrial machinery manufacturing 335999 Miscellaneous electrical equipment manufacturing 336510 Railroad rolling stock manufacturing 524114 Direct health and medical insurance carriers 623110 Nursing care facilities

* PPI-constructed NAICS-based code 212326 is equivalent to and replaces the PPI for NAICS 212322, which was discontinued in December 2022.

BLS to Discontinue Selected PPIs

With the release of Producer Price Index (PPI) data for July 2025 on August 14, 2025, BLS will end calculation and publication of 5 Final Demand-Intermediate Demand (FD-ID) indexes, listed below.

FD-ID code FD-ID Title FD49103 Final demand less foods, food and nonalcoholic beverages for immediate consumption, and energy FD49105 Final demand less foods and food and nonalcoholic beverages for immediate consumption FD49202 Total finished less foods, food and nonalcoholic beverages for immediate consumption, and energy FD49204 Total finished less foods and food and nonalcoholic beverages for immediate consumption ID69215 Nonfood materials excluding fuel for manufacturing, excluding selected items

In addition, with the release of July 2025 PPI data, BLS will stop calculation and publication of about 350 PPIs from the industry, commodity, and special index categories. Details of these index eliminations are available at www.bls.gov/ppi/notices/2025/bls-to-discontinue-selected- ppis.htm.