In January 2021, producer prices for final demand increased 1.3% for the largest monthly increase since the index began in December 2009. Final demand prices rose 0.3% in December 2020 and 0.1% in November 2020. Two-thirds of the January advance in prices for final demand can be traced to a 1.3% rise in prices for final demand services.
Prices for final demand services rose 1.3% in January, the largest monthly advance since the index began in December 2009. Over 70% of the January increase is attributable to a 1.4% jump in prices for final demand services less trade, transportation, and warehousing. Prices for final demand trade services increased 1.0% while prices for final demand transportation and services rose 1.3%.
In January, prices for final demand goods moved up 1.4%, the largest monthly increase since a jump of 1.4% in May 2020. Nearly 60% of the increase in January is attributable to a 5.1% rise in prices for final demand energy. Prices for final demand goods less foods and energy (+0.8 percent) and for final demand foods (+0.2%) also increased.