June 2011 Consumer and Producer Price Indices

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The seasonally adjusted Consumer Price Index for All Urban Consumers (CPI-U) decreased 0.2 percent in June. Over the last 12 months, the all items index increased 3.6 percent before seasonal adjustment.

The gasoline index declined sharply in June, falling 6.8 percent. While this decrease was the major factor in the seasonally adjusted decline in the all items index, the index for household energy declined as well. In contrast, the index for all items less food and energy increased 0.3 percent for the second consecutive month. The indexes for shelter, apparel, new vehicles, used cars and trucks, and medical care all continued to rise in June.

The seasonally adjusted Producer Price Index for Finished Goods (PPI) decreased 0.4 percent in June. This decline followed increases of 0.2 percent in May and 0.8 percent in April. At the earlier stages of processing, prices received by manufacturers of intermediate goods were unchanged in June, and the crude goods index moved down 0.6 percent. On an unadjusted basis, prices for finished goods climbed 7.0 percent for the 12 months ended June 2011.
 

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Details at different stages of processing include:

Finished goods -- The decline in finished goods prices can be attributed to the index for finished energy goods, which decreased 2.8 percent. By contrast, prices for finished goods less foods and energy and for finished consumer foods moved up 0.3 percent and 0.6 percent, respectively.

Intermediate goods -- This index was unchanged in June following ten straight monthly increases. Price advances of 0.3 percent for intermediate goods less foods and energy and 0.4 percent for intermediate foods and feeds offset a 0.8- percent decline in the index for intermediate energy goods. On a 12-month basis, prices for intermediate goods climbed 11.0 percent, the largest increase since a 15.3-percent rise in September 2008.

Crude goods -- The index for crude goods fell 0.6 percent in June. For the 3 months ended in June, prices for crude materials declined 0.9 percent after rising 5.6 percent for the 3 months ended in March. In June, the monthly decrease in the crude goods index is attributable to prices for crude energy materials, which moved down 4.1 percent. By contrast, the indexes for crude foodstuffs and feedstuffs and for crude nonfood materials less energy increased 2.1 percent and 1.1 percent, respectively.
 

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Price index changes for the forest products that we track either rose more quickly or fell more slowly on a year-over-year basis.
 

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