The Producer Price Index for final demand came in completely flat in July 2026, registering a 0.0% change on a seasonally adjusted basis. After months of whiplash, with a 0.5% jump in May followed by a 0.1% decline in June, wholesale prices finally decided to just… sit still for a moment.
The Bureau of Labor Statistics released the data on August 13, and the headline number masks a tug-of-war playing out beneath the surface. Goods prices fell sharply while services quietly crept higher, producing a net result of exactly nothing.
Energy dragged goods prices lower
Final demand goods declined 0.7% month-over-month, and the usual suspect was responsible. Energy prices dropped 3.1% broadly, with gasoline leading the charge downward at a 5.7% decline.
On the other side of the ledger, final demand services rose 0.2%. Construction stood out with a 2.2% monthly advance.
