Producer Prices Climb Further in June

Producer prices continue to rise into the summer months showing no signs of slowing down. The index and subcategories for final demand have not only recovered from the collapse seen at the onset of COVID-19 but have now surpassed pre-pandemic levels.

Since the repeated decreases from February through April of 2020, the composite Producer Price Index (PPI) of all commodities from the Bureau of Labor Statistics (BLS) has gained ground month-on-month. June’s index registered a 1.8% increase versus the prior month, and a 19.6% increase year on year, seasonally adjusted. Additionally, the index is up 11.8% year-to-date, and is 9.7% higher than the previous high recorded in June 2014.

David Schollaert

David Schollaert is a senior analyst for Steel Market Update. David joined SMU after more than a decade in the metals and mining industry in a myriad of different roles. Much of his early experience and expertise were within the coverage and analysis of steel-making raw materials and served previously as senior editor of the CRU Prices Service. Most recently, however, before his return to market analysis, David held roles as a metals buyer and an operations manager for raw material suppliers. Based in CRU’s Pittsburgh office, David can be reached at david@steelmarketupdate.com or 724-720-1008.