The Producer Price Index for final demand increased 4.2% for the 12 months ended in March 2021. Prices for final demand goods increased 7.0% over this 12-month period. Final demand less foods and energy prices increased 3.6%. Final demand services prices increased 3.0%, while final demand construction prices increased 1.5% over the year ended in March.
Within the final demand goods grouping, final demand energy prices increased 24.3% over the past year, which includes a 52.5% increase in gasoline prices.
Final demand foods prices (also part of the final demand goods grouping), were up 5.1%. Prices for processed young chickens, pork, and beef and veal were up, while prices for fresh and dry vegetables were lower in March 2021 than in March 2020.
Prices for final demand trade services increased 3.3%. Prices for final demand services less trade, transportation, and warehousing were up 3.0%, while final demand prices for transportation and warehousing services increased 2.2%.