US producer price index increases to 140.43

US producer prices increased to 140.43 points in June, according to the Bureau of Labor Statistics, up from 138.89 points in May.

The producer price index for final demand increased a seasonally adjusted 1.1% in June following advances of 0.9% in May and 0.4% in April.

On an unadjusted basis, final demand prices moved ahead 11.3% for the 12 months ended 30 June - the largest increase since a record 11.6% jump in March.

In June, three-quarters of the advance for final demand was due to a 2.4% rise in prices for final demand goods. The index for final demand services increased 0.4%.

Prices for final demand excluding foods, energy, and trade services moved up 0.3% in June after advancing 0.4% in both May and April. For the 12 months ended in June, the index for final demand less foods, energy, and trade services rose 6.4%.

Reporting by Iain Gilbert at Sharecast.com