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Final demand producer prices up 4.2 percent over the year ended March 2021

April 13, 2021

The Producer Price Index for final demand increased 4.2 percent for the 12 months ended in March 2021. Prices for final demand goods increased 7.0 percent over this 12-month period. Final demand less foods and energy prices increased 3.6 percent. Final demand services prices increased 3.0 percent, while final demand construction prices increased 1.5 percent over the year ended in March.

12-month change in selected Producer Price Indexes final demand commodity groupings, March 2021, not seasonally adjusted
Grouping Percent change, March 2020–March 2021

Final demand

4.2%

Final demand goods

7.0

Final demand energy

24.3

Liquefied petroleum gas

162.3

No. 2 diesel fuel

79.5

Gasoline

52.5

Home heating oil and distillates

32.9

Residential natural gas

7.6

Residential electric power

4.2

Final demand foods

5.1

Oilseeds

62.6

Grains

40.7

Finfish and shellfish

22.8

Shortening and cooking oils

16.9

Beef and veal

14.6

Pork

13.7

Processed young chickens

12.5

Eggs for fresh use

7.9

Processed turkeys

5.9

Processed fruits and vegetables

3.4

Soft drinks

3.3

Pasta products

2.9

Milled rice

2.2

Roasted coffee

1.7

Fresh fruits and melons

-0.2

Bakery products

-0.4

Frozen specialty food

-1.5

Dairy products

-1.9

Confectionery end products

-4.9

Fresh and dry vegetables

-10.8

Final demand goods less foods and energy

3.6

Mobile homes

14.7

Cigarettes

7.6

Jewelry, platinum and karat gold

5.3

Sporting and athletic goods

4.1

Toys, games, and children's vehicles

4.0

Costume jewelry and novelties

3.8

Light motor trucks

3.1

Household furniture

2.0

Household appliances

1.9

Passenger cars

1.8

Tires

1.8

Pet food

1.3

Pharmaceutical preparations

1.3

Soaps and detergents

1.3

Footwear

0.9

Sanitary paper products

0.5

Home electronic equipment

0.0

Cosmetics and other toiletries

-0.2

Cleaning and polishing products

-0.4

Medical, surgical & personal aid devices

-0.4

Men's and boys' apparel

-0.8

Alcoholic beverages

-1.0

Women's, girls', and infants' apparel

-2.1

Textile housefurnishings

-3.0

Final demand services

3.0

Final demand trade services

3.3

RVs, trailers, and campers retailing

38.0

Hardware, building materials, and supplies retailing

32.2

Major household appliances retailing

16.7

Furniture retailing

6.8

Automotive parts, including tires, retailing

6.7

Sporting goods, including boats, retailing

5.8

Flooring and floor coverings retailing

5.7

Book retailing

4.8

Lawn, garden, and farm equipment and supplies retailing

3.1

Health, beauty, and optical goods retailing

0.4

Computer hardware, software, and supplies retailing

-0.6

Food and alcohol retailing

-0.8

Apparel, jewelry, footwear, and accessories retailing

-1.0

TV, video, and photographic equipment and supplies retailing

-2.2

Cleaning supplies and paper products retailing

-5.9

Fuels and lubricants retailing

-9.3

Final demand services less trade, transportation, and warehousing

3.0

Passenger car rental

11.2

Sales and subscriptions of periodicals and newspapers

7.3

Cable and satellite subscriber services

5.4

Tax preparation and planning

5.1

Sales of books

4.3

Hospital outpatient care

4.2

Dental care

4.1

Hospital inpatient care

4.0

Legal services

3.5

Nursing home care

2.8

Physician care

2.7

Application software publishing

2.4

Home health and hospice care

2.0

Health and medical insurance

0.9

Medical laboratory and diagnostic imaging care

0.7

Life insurance

-0.2

Wireless telecommunication services

-0.8

Residential wired telecommunication services

-1.7

Property and casualty insurance

-1.8

Internet access services

-2.7

Traveler accommodation services

-8.9

Final demand transportation and warehousing services

2.2

Truck transportation of freight

7.3

Air transportation of freight

4.0

Courier, messenger, and U.S. postal services

3.9

Rail transportation of freight and mail

2.0

Rail transportation of passengers

1.6

Airline passenger services

-8.6

Final demand construction

1.5

New office building construction

3.3

New industrial building construction

1.9

New school building construction

1.0

New health care building construction

0.8

New warehouse building construction

-0.3

Within the final demand goods grouping, final demand energy prices increased 24.3 percent over the past year, which includes a 52.5-percent increase in gasoline prices.

Final demand foods prices (also part of the final demand goods grouping), were up 5.1 percent. 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 percent. Prices for final demand services less trade, transportation, and warehousing were up 3.0 percent, while final demand prices for transportation and warehousing services increased 2.2 percent.

These data are from the Producer Price Indexes program and are not seasonally adjusted. To learn more, see "Producer Price Indexes — March 2021." Producer price indexes measure prices U.S. producers receive for goods, services, and construction. All producer price data are subject to revision once, 4 months after initial publication. Also see Charts related to the latest "U.S. Producer Price Indexes" news release.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Final demand producer prices up 4.2 percent over the year ended March 2021 at https://www.bls.gov/opub/ted/2021/final-demand-producer-prices-up-4-2-percent-over-the-year-ended-march-2021.htm (visited September 26, 2021).

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