The Bureau of Labor Statistics (BLS) reported Thursday wholesale inflation is rising to the second-highest record on level in June.
The producer price index, a measure of prices paid to goods and services producers, rose 1.1% for the month and 11.3% over the past 12 months. The monthly pace exceeded expectations and year-over-year inflation was below only the record 11.6% registered in March.
Inflation pressures through the supply chain are mixed, according to BLS.
Goods inputs for Stage 4 intermediate demand, measuring the products purchased by industries primarily producing output sold to final demand, such as RV manufacturers, rose 1.3% in June, the same monthly increase as April and May. Year-over-year Stage 4 demand rose 10.8%, down from the 11.5% registered in May.
Stage 3 intermediate demand, measuring suppliers to Stage 4 producers such as RV manufacturers, rose 1.9% in the month, down from 2.9% in May. Overall, demand rose 18.1% in the past 12 months, down from 19.3% in May.
Although Stage 3 and Stage 4 demand eased, inflationary pressures reached record levels for Stage 2 suppliers.
Stage 2 intermediate demand, suppliers to Stage 3 suppliers, soared 9.9% in the month, up from a 7.5% increase registered in May. Overall, demand rose 29.4% in the past 12 months, the largest increase for Stage 2 suppliers since year-over-year data first was collected in November 2010.
Stage 1 goods demand rose 2.8% in the month, up from 2.8% in May. Overall, demand in the past 12 months rose 15.8%, down from 16.1% registered in May.
