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FOR DATA ONLY: (202) 691-5200 FOR TECHNICAL INFORMATION: (202) 691-7705 MEDIA CONTACT: (202) 691-5902 http://stats.bls.gov/ppihome.htm USDL 01-14 TRANSMISSION OF MATERIAL IN THIS RELEASE IS EMBARGOED UNTIL 8:30 A.M. (E.S.T.), FRIDAY, JANUARY 12, 2001 Producer Price Indexes -- December 2000 The Producer Price Index for Finished Goods showed no change in December, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This followed a 0.1-percent increase in November and a 0.4-percent advance in October. The index for finished goods other than foods and energy rose 0.3 percent in December, after showing no change in the previous month. Prices received by producers of intermediate goods gained 0.2 percent, following a similar decline in the prior month. The crude goods index jumped 8.7 percent, after posting a 2.0percent decrease in November. (See table A.) Table A. Monthly and annual percent changes in selected stage-of-processing price indexes, seasonally adjusted ______________________________________________________________________________________ | | | | | | | Finished goods | | | | | | | | | |---------------------------------------------------------| | | | | | | | | Change in | | | | | | | | Except |finished goods| Inter- | | | | | | |foods and|from 12 months| mediate | Crude | | Month | Total | Foods | Energy | energy | ago(unadj.) | goods | goods | |--------------------------------------------------------------------------------------| 1999 Dec. 0.1 0.0 0.7 0.1 2.9 0.3 -4.9 2000 Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. .1 1.1 .7 -.4 .1 .9 .1 -.4 r .8 .4 .2 .5 .1 1.1 -.2 -.2 -.1 r -.7 r .2 .8 .9 5.3 4.4 -3.9 -.2 6.4 -.2 r -1.8 r 4.2 1.4 -.2 .3 .1 .1 .3 0 .1 r .2 r .2 -.1 2.5 4.0 4.3 3.6 3.7 4.4 4.3 r 3.4 3.3 3.6 .5 .9 .9 -.1 -.1 .9 .4 -.4 .7 .2 2.6 3.9 2.2 -1.5 3.0 8.4 -2.4 r -3.7 r 6.1 3.4 Nov. .1 .2 .4 0 3.7 -.2 -2.0 Dec. 0 -.4 -.7 .3 3.6 .2 8.7 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for August 2000 have been revised to reflect the availability of late reports and corrections by respondents. Among finished goods in December, the index for consumer goods other than foods and energy rose 0.3 percent, and prices for capital equipment increased 0.2 percent. On the other hand, the finished energy goods index fell 0.7 percent, and prices for finished consumer foods declined 0.4 percent in December. Before seasonal adjustment, the Producer Price Index for Finished Goods edged down 0.1 percent to stand at 139.7 (1982=100). From December 1999 to December 2000, finished goods prices advanced 3.6 percent (the largest calendar-year increase since a 5.7-percent gain in 1990), after rising 2.9 percent during 1999. Prices for finished consumer foods increased 1.7 percent during 2000, after rising 0.8 percent during the 12 months ended December 1999. The index for finished goods other than foods and energy rose 1.2 percent in 2000, following a 0.9-percent gain in 1999. By contrast, the price increases for finished energy goods slowed slightly, advancing 17.1 percent in 2000 after posting an 18.1 percent rise in the previous calendar year. At the earlier stages of processing, the intermediate goods index increased 4.1 percent from December 1999 to December 2000, after registering a 3.7-percent rise during 1999. Prices for crude materials for further processing jumped 31.6 percent in 2000, following a 15.3-percent increase in the prior calendar year. (See summary below.) Summary of December-to-December and 3-month seasonally adjusted annual rates for selected stages of process Grouping Finished goods Finished consumer foods Finished energy goods Finished goods less foods Percentage change 12 months ended in December 1998 1999 2000 0.0 .1 -11.7 2.9 .8 18.1 3.6 1.7 17.1 Seasonally adjusted annual rate for: 3 3 3 3 months months months months ended ended ended ended in in in in March June Sept. Dec. 2000 2000 2000 2000 7.9 3.6 51.8 2.3 2.7 8.3 2.0 -2.3 8.6 2.0 2.7 4.6 and energy Finished consumer goods, excluding foods and energy Capital equipment 2.5 .9 1.2 .8 1.4 1.9 .8 4.2 0 1.2 .3 1.2 1.2 .8 .9 1.0 1.2 2.1 1.7 1.0 .9 3.7 -4.2 19.6 4.1 3.5 19.5 9.6 6.7 46.3 2.8 7.0 4.5 2.8 -8.2 20.3 1.2 9.7 8.9 1.9 1.6 4.2 2.7 .3 -.6 4.0 4.1 10.0 7.2 0 -.3 2.4 .6 8.1 -1.2 .6 -4.6 2.2 .1 3.8 -.8 -2.1 -.5 -16.7 -11.0 -23.8 15.3 -.1 36.9 31.6 7.2 76.0 40.8 21.5 84.9 46.2 -10.4 163.6 -1.3 -14.0 11.8 46.7 41.2 76.1 -16.0 14.0 -5.8 9.9 -10.7 -10.5 -10.8 Intermediate materials, supplies, and components -3.3 Intermediate foods and feeds -7.3 Intermediate energy goods -12.1 Intermediate materials less foods and energy -1.6 Materials for nondurable manufacturing -5.3 Materials for durable manufacturing -5.5 Materials and components for construction .1 Crude materials for further processing Foodstuffs and feedstuffs Crude energy materials Crude nonfood materials less energy NOTE: Late reports and corrections by respondents may cause some indexes to change 4 months after original publication. In addition, seasonally adjusted indexes may be revised for 5 years due to the recalculation of seasonal factors each January. Finished goods The index for finished consumer goods other than foods and energy turned up 0.3 percent in December, after edging down 0.1 percent in November. Prescription drug prices rose 0.6 percent, following a 1.6percent decline in the prior month. The indexes for alcoholic beverages, light motor trucks, and women's apparel also rose, after falling in the prior month. Passenger car prices rose at a faster pace than in November. By contrast, December prices for newspaper circulation edged up 0.1 percent, following a 2.9-percent increase in the previous month. The indexes for men's and boys' apparel and mobile homes edged down, after rising last month. Prices for cosmetics and other toilet preparations and for girls, children's and infants' apparel showed no change, following an increase in November. From December 1999 to December 2000, the index for finished consumer goods other than foods and energy increased 1.2 percent, the same rate of increase posted for calendar year 1999. The capital equipment index gained 0.2 percent in December, after showing no change in the preceding two months. More than half of December's increase can be traced to a 1.4-percent advance in prices for light motor trucks and a 0.5-percent increase in passenger car prices. The indexes for civilian aircraft, agricultural machinery and equipment, and commercial furniture also rose in December. On the other hand, prices for x-ray and electromedical equipment, electronic computers, truck trailers, and heavy motor trucks declined in December. For the 12 months ended December 2000, capital equipment prices increased 1.2 percent, following a 0.3-percent rise during the previous calendar year. Table B. Monthly and annual percent changes in selected price indexes for intermediate goods and crude goods, seasonally adjusted __________________________________________________________________________________ | | | | | | Intermediate goods | Crude goods | | | | | | |---------------------------------------------------------------------------| | | | | |Change in | | | | Change | | | | | | interme- | | | |in crude | | | | | | diate | | | | goods | | | | | |goods from| | | | from 12 | | | | |Excluding|12 months | | |Excluding| months | | | | |foods and|months ago| | Energy |foods and| ago | |Month | Foods | Energy | energy | (unadj.) | Foods | (unadj.)| energy |(unadj.) | |----------------------------------------------------------------------------------| 1999 Dec. -1.9 1.4 0.1 3.7 -2.0 -11.1 2.5 15.3 2000 Jan. .1 1.8 .4 4.1 .7 4.7 2.3 17.4 Feb. .5 4.3 .3 5.4 .6 8.9 .6 25.1 Mar. 1.0 3.6 .4 5.9 3.6 2.3 -.5 26.9 Apr. .8 -2.8 .4 5.3 1.5 -4.5 -1.0 22.2 May .7 -1.0 .1 5.0 -1.4 8.8 -.2 19.0 June .2 5.1 .1 5.5 -2.7 22.6 -1.6 29.0 July -.7 1.4 .2 5.2 -2.9 -2.3 -1.6 25.3 Aug. r -2.2 r -.9 -.1 4.3 r -4.3 r -4.1 r -1.7 r 14.7 Sept. r .8 r 4.2 0 4.5 r 3.6 r 9.7 r .6 16.3 Oct. .6 1.1 0 4.6 3.5 4.6 -.6 23.4 Nov. 0 0 -.1 4.2 1.3 -4.1 -2.3 14.9 Dec. 1.7 1.0 0 4.1 3.9 14.8 0 31.6 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for August 2000 have been revised to reflect the availability of late reports and corrections by respondents. The index for finished energy goods fell 0.7 percent in December, after posting a 0.4-percent gain in November. Gasoline prices dropped 8.4 percent, following a 1.4-percent increase a month ago. The index for finished lubricants also declined, after rising in November. Liquefied petroleum gas price increases slowed in December from November's pace. By contrast, prices for residential electric power turned up 1.2 percent in December, following a 0.7-percent decrease a month earlier. The index for residential natural gas rose more than in the prior month. Prices for home heating oil fell less than in November. The finished consumer foods index fell 0.4 percent in December, after registering a 0.2-percent gain in November. Prices for fresh and dry vegetables dropped 26.0 percent, following a 4.0-percent increase a month earlier. The indexes for pork, processed young chickens, bakery products, soft drinks, and for shortening and cooking oils also turned down, after rising in November. Conversely, prices for dairy products increased 2.9 percent in December, following a 1.0-percent gain in the prior month. The index for beef and veal also rose more than in the previous month. Prices for eggs for fresh use, fresh fruits and melons, and for finfish and shellfish turned up, after falling in November. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components moved up 0.2 percent in December, seasonally adjusted, following a 0.2-percent decrease in November. Prices for intermediate energy goods rose, after showing no change a month ago. The index for materials for durable manufacturing turned up, following a decline in the previous month. Prices for intermediate foods and feeds rose in December, after showing no change in the prior month. The construction materials index edged up, following a decline in November. Nondurable manufacturing material prices fell 0.1 percent for the second consecutive month. Excluding foods and energy, the index for intermediate materials showed no change in December, after registering a 0.1-percent decrease a month earlier. (See table B.) Prices for intermediate energy materials increased 1.0 percent, after posting no change in November. The industrial natural gas index surged 33.9 percent in December (the largest monthly increase since publication of this index began in January 1992), following a 2.6-percent decline in the prior month. The indexes for commercial natural gas, natural gas to electric utilities, commercial electric power, and jet fuels also turned up, following decreases in the previous month. Prices for industrial electric power rose more than a month earlier. By contrast, the gasoline index dropped 8.4 percent, after registering a 1.4-percent increase in November. Diesel fuel prices also turned down, after rising in the prior month. The December residual fuels index fell more than in November, and liquefied petroleum gas prices rose less in December than in the previous month. From December 1999 to December 2000, the intermediate energy goods index advanced 19.5 percent, following a 19.6-percent gain in 1999. Durable manufacturing material prices moved up 0.2 percent, after posting a 1.1-percent decline in November. The steel mill products index showed no change for December, following a 1.6-percent drop in the previous month. Prices for primary aluminum (except extrusion billet), aluminum mill shapes, copper cathode and refined copper, and for copper and brass mill shapes turned up, after falling a month earlier. The plywood index decreased less than in the prior month. On the other hand, prepared paint prices turned down 0.5 percent, following a 0.3-percent gain in November. The indexes for hardwood lumber and for building paper and board declined more than a month ago. Prices for materials for durable manufacturing increased 0.6-percent during 2000, after posting a 2.4-percent rise in the previous year. December's 1.7-percent advance for intermediate foods and feeds prices represents the largest monthly increase since a 1.9-percent rise in March 1997. This index showed no change in November. Prepared animal feed prices jumped 3.5 percent in December, following a 0.5-percent rise a month ago. The indexes for fluid milk products; natural, processed, and imitation cheese; and confectionery materials turned up, after falling in the previous month. Prices for snack chips and for beef and veal increased more than a month earlier. The crude vegetable oils index declined less than in the prior month. By contrast, pork prices decreased 0.6 percent, following a 1.8-percent advance in November. Butter prices also turned down, after rising in the previous month. The refined sugar index was unchanged, after rising a month ago. For the 12 months ended in December 2000, the intermediate foods and feeds index increased 3.5 percent, following a 4.2-percent drop in the prior year. Prices for materials and components for construction edged up 0.1 percent in December, after posting a 0.2-percent decline in November. The softwood lumber index rose 0.1 percent, following a 1.4-percent decrease a month earlier. The indexes for asphalt felts and coatings, switchgear, and for plumbing fixtures and brass fittings also turned up, after declining in the prior month. Prices for plywood and gypsum products fell less than a month ago. Prices for fabricated structural metal products rose, following no change in November. By contrast, the index for nonferrous wire and cable moved down 0.3 percent, after registering a 0.2-percent increase in the previous month. Prices for wiring devices and heating equipment advanced less than a month ago. The index for materials and components for construction edged up 0.1 percent during 2000, after a 2.2-percent rise during all of 1999. The index for materials for nondurable manufacturing inched down 0.1 percent, for the second consecutive month. In December, falling prices for plastic resins and materials, paper, paperboard, woodpulp, intermediate basic organic chemicals, and for processed yarns and threads slightly outweighed rising prices for primary basic organic chemicals, fertilizer materials, inedible fats and oils, and for alkalies and chlorine. During 2000, prices for materials for nondurable manufacturing jumped 4.1 percent, after increasing 4.0 percent in 1999. Crude goods The Producer Price Index for Crude Materials for Further Processing increased 8.7 percent in December, seasonally adjusted, following a 2.0percent decline in November. Prices turned up for crude energy materials, after falling in the prior month. The index for crude foodstuffs and feedstuffs rose more than a month earlier. Prices for basic industrial materials remained unchanged in December, after declining a month ago. (See table B.) The index for crude energy materials advanced 14.8 percent in December, after posting a 4.1-percent decrease in November. Prices for natural gas jumped 35.3 percent, following an 11.1-percent decline in the previous month. The index for coal turned up 3.0 percent, after falling 1.2 percent a month ago. Conversely, crude petroleum prices fell 11.1 percent in December, after increasing 7.1 percent in November. The crude energy materials index advanced 76.0 percent during 2000 (the largest 12month increase since publication of this index began in January 1974), following a 36.9-percent rise in 1999. Prices for crude foodstuffs and feedstuffs increased 3.9 percent in December, after posting a 1.3-percent gain in November. The index for slaughter hogs advanced 12.0 percent, following a 9.6-percent rate of decline in the previous month. Prices for fluid milk, slaughter broilers and fryers, soybeans, and for fresh fruits and melons also turned up, after decreasing a month ago. On the other hand, the index for fresh and dry vegetables dropped 26.0 percent in December, following a 4.0-percent rise in November. Prices for wheat, slaughter turkeys, and raw cane sugar also turned down, after advancing in the prior month. The corn index rose less than in November. During 2000, prices for crude foodstuffs and feedstuffs rose 7.2 percent, after edging down 0.1 percent in 1999. The index for crude nonfood materials less energy showed no change in December, after declining 2.3 percent in November. Iron and steel scrap prices edged up 0.2 percent, following an 8.2-percent decrease a month ago. The indexes for leaf tobacco, copper ores, gold ores, and cattle hides also turned up, after falling in the previous month. By contrast, wastepaper prices declined 8.4 percent in December, following a 5.2-percent decrease in November. The index for construction sand, gravel, and crushed stone turned down, after rising a month earlier. Pulpwood prices increased at a slower rate than in November. The basic industrial materials index fell 5.8 percent during the 2000 calendar year, following a 14.0-percent advance in 1999. Net output price indexes for mining, manufacturing, and services industries Mining. The Producer Price Index for the Net Output of Total Domestic Mining Industries rose 12.0 percent in December, following a 3.2-percent decline in November. (Net output price indexes are not seasonally adjusted.) In December, prices for the crude petroleum, natural gas, and natural gas liquids industry advanced 14.9 percent, after showing a 3.9percent decrease in the prior month. Prices turned up for the bituminous coal and lignite, copper ores, and gold ores industries, after falling in November. The index for the kaolin and ball clay industry increased more than in the previous month. By contrast, price increases for the oil and gas well drilling industry slowed to 2.1 percent in December from 5.7 percent a month earlier. Prices for the construction sand and gravel; crushed and broken granite; potash, soda, and borate minerals; and coal mining services industries turned down, following increases last month. In December, the Producer Price Index for the Net Output of Total Domestic Mining Industries stood at 139.6 (December 1984=100). From December 1999 through December 2000, this index increased 61.0 percent, following a 29.8percent advance in the prior year. Manufacturing. The Producer Price Index for the Net Output of Total Domestic Manufacturing Industries decreased 0.4 percent in December, after edging up 0.1 percent in November. Prices received by the petroleum refining industry group fell 6.6 percent, following a 1.0-percent gain in the previous month. The index for the printing, publishing, and allied industries group rose less than a month ago. After increasing in the prior month, prices remained unchanged for the non-electrical machinery, rubber and miscellaneous plastic products, and furniture and fixtures industry groups. By contrast, the index for the chemicals and allied products industry group turned up 0.3 percent in December, following a 0.5-percent decline in November. Prices for the food and kindred products industry group rose more than in the prior month. The index for the transportation equipment industry group turned up, after falling a month earlier. Price declines were smaller in December than in November for the lumber and wood products (except furniture) industry group and for the electrical and electronic machinery, equipment, and supplies industry group. In December, the Producer Price Index for the Net Output of Total Domestic Manufacturing Industries stood at 134.4 (December 1984=100). From December 1999 through December 2000, this index rose 3.0 percent, following a 3.7-percent increase in 1999. Services. Among service industries in December, price increases were registered for general medical and surgical hospitals, operators and lessors of nonresidential buildings, and scheduled air transportation. On the other hand, prices for deep sea foreign transportation of freight, travel agencies, real estate agents and managers, passenger car rental, nonlocal trucking, and legal services decreased in December. ***** Producer Price Index data for January 2001 will be released on Friday, February 16, 2001 at 8:30 a.m. (E.S.T.) Recalculated Seasonal Adjustment Factors and Relative Importances to be Available on February 14, 2001 Each year with the release of PPI data for January, seasonal adjustment factors are recalculated to reflect price movements from the just-completed calendar year. This routine annual calculation may result in revisions to seasonally adjusted indexes for the previous 5 years. The following information will be available on February 14, 2001 (2 work days prior to the release of PPI data for January 2001 on February 16): -Seasonal factors for commodity indexes for the year 2001, -Recalculated seasonal factors for the last 5 years (1996-2000) for the commodity indexes, -Recalculated seasonal factors for the last 5 years (1996-2000) for the stage-of-processing indexes. In addition to recalculated seasonal factors, relative importances, as of December 2000, will also be available on February 14, 2001, at ftp://ftp.bls.gov which is the BLS ftp site. Choose the "pub" directory, the "special.requests" directory, and the "ppi" directory. To request any of this information, call the Division of Industrial Prices and Price Indexes, Section of Index Analysis and Public Information at (202) 691-7705. Improved Quality Adjustment for Microprocessors Effective with the release of January 2001 data, the Bureau of Labor Statistics will implement a new quality valuation methodology for microprocessors designed and sold for computer applications. This new quality adjustment methodology views changes in the processing power of microprocessors as changes in quality and permits the explicit estimation of their value. The new approach replaces current procedures which have generally been limited to considering price differences between a new microprocessor and its predecessor as a measure of the value of the quality difference between the two. For additional information, see the October 2000 issue of the Producer Price Index Detailed Report, or contact the Section of Index Analysis and Public Information at (ppi-info@BLS.gov) or (202) 691-7705 Table 1. Producer price indexes and percent changes by stage of processing (1982=100) _______________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | Relative | Unadjusted index |change to |percent change from: Grouping |importance| |Dec. 2000 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | Aug. |Nov. |Dec. | Dec. | Nov. |Sept.to|Oct. to |Nov. to | 1999 1/|2000 2/|2000 2/|2000 2/| 1999 | 2000 | Oct. | Nov. | Dec. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 138.2 139.9 139.7 3.6 -0.1 0.4 0.1 0 Finished consumer goods........................| 75.611 138.6 140.4 140.1 4.3 -.2 .5 .1 -.1 Finished consumer foods......................| 22.882 137.2 138.1 137.9 1.7 -.1 .8 .2 -.4 Crude......................................| 1.619 118.3 134.4 124.7 -1.3 -7.2 8.1 0 -8.6 Processed..................................| 21.263 138.7 138.4 138.9 1.9 .4 .3 .2 .3 Finished consumer goods, excluding foods.....| 52.729 139.0 141.2 140.8 5.4 -.3 .4 .1 0 Nondurable goods less foods................| 36.838 140.0 142.1 141.5 7.4 -.4 .7 .1 -.1 Durable goods..............................| 15.891 132.7 135.0 135.3 .7 .2 -.4 0 .4 Capital equipment..............................| 24.389 138.5 139.8 139.9 1.2 .1 0 0 .2 Manufacturing industries.....................| 6.436 139.5 139.9 139.9 .8 0 .1 .1 .1 Nonmanufacturing industries..................| 17.953 138.1 139.7 139.8 1.2 .1 -.1 0 .3 | Intermediate materials, supplies, and components.| 100.000 Materials and components for manufacturing.....| 46.550 Materials for food manufacturing.............| 3.339 Materials for nondurable manufacturing.......| 15.689 Materials for durable manufacturing..........| 10.279 Components for manufacturing.................| 17.243 Materials and components for construction......| 13.727 Processed fuels and lubricants.................| 13.649 Manufacturing industries ....................| 4.947 Nonmanufacturing industries..................| 8.702 Containers.....................................| 3.953 Supplies.......................................| 22.121 Manufacturing industries.....................| 5.089 Nonmanufacturing industries..................| 17.032 Feeds......................................| 1.160 Other supplies.............................| 15.872 | Crude materials for further processing...........| 100.000 Foodstuffs and feedstuffs......................| 38.999 Nonfood materials..............................| 61.001 Nonfood materials except fuel 3/.............| 38.153 Manufacturing 3/...........................| 36.758 Construction...............................| 1.395 Crude fuel 4/................................| 22.848 Manufacturing industries...................| 1.933 Nonmanufacturing industries................| 20.915 | Special groupings | | Finished goods, excluding foods..................|5/ 77.118 Intermediate materials less foods and feeds......|6/ 95.501 Intermediate foods and feeds.....................|6/ 4.499 Crude materials less agricultural products 3/ 7/.|8/ 58.794 | Finished energy goods............................|5/ 13.780 Finished goods less energy.......................|5/ 86.220 Finished consumer goods less energy..............|5/ 61.831 | Finished goods less foods and energy.............|5/ 63.338 Finished consumer goods less foods and energy....|5/ 38.949 Consumer nondurable goods less foods and energy..|5/ 23.058 | Intermediate energy goods........................|6/ 13.762 Intermediate materials less energy...............|6/ 86.238 129.9 128.6 119.4 133.9 129.0 126.3 150.4 104.5 103.8 104.5 153.0 137.0 144.1 134.0 90.7 139.3 130.5 128.1 118.8 133.7 127.7 126.2 149.9 108.3 105.2 109.6 153.2 137.6 144.6 134.7 95.2 139.5 130.6 128.1 119.8 133.5 128.0 126.1 149.9 108.3 107.7 108.2 153.0 138.1 144.7 135.3 99.3 139.7 4.1 1.7 1.4 4.1 .6 .2 .1 19.5 17.4 20.6 4.4 2.2 2.2 2.3 10.0 1.7 .1 .4 .1 -.2 -.1 -.1 1.1 2.0 .7 -.1 .1 .1 .1 1.0 .1 -.2 -.2 -.3 -.1 -1.1 0 -.2 .1 -.1 0 -.1 0 .2 0 .7 -.1 .8 -.1 .2 -.1 0 0 2.4 -1.3 -.1 .4 .1 .4 4.3 .1 .8 -.1 .2 -.1 .1 1.0 2.4 .4 -.1 .4 .1 .4 4.3 .2 118.3 95.5 129.7 119.3 110.1 185.4 133.6 133.9 136.0 125.5 100.5 138.2 123.2 113.7 183.4 147.9 148.8 150.4 136.2 103.9 153.5 116.0 106.9 182.7 192.6 193.7 195.9 31.6 7.2 47.2 6.3 6.9 -9.1 15.2 17.2 15.0 8.5 3.4 11.1 -5.8 -6.0 -.4 30.2 30.2 30.3 3.4 3.5 3.3 -2.8 -2.9 .3 10.2 10.5 10.3 -2.0 1.3 -3.6 2.4 2.5 -.6 -9.7 -9.7 -9.7 8.7 3.9 11.1 -5.8 -5.9 -.3 30.2 30.2 30.3 138.4 131.0 110.6 131.2 140.3 131.5 111.6 139.8 140.1 131.5 113.5 155.5 4.1 4.2 3.5 48.4 -.1 0 1.7 11.2 .3 .2 .6 3.3 .1 -.2 0 -3.7 .1 .2 1.7 11.1 95.9 144.7 147.3 99.3 145.9 148.4 97.9 145.9 148.5 17.1 1.3 1.4 -1.4 0 .1 1.4 .2 .3 .4 .1 .1 -.7 .1 .1 147.7 153.8 170.4 148.9 155.0 170.7 149.1 155.3 171.0 1.2 1.2 1.7 .1 .2 .2 -.1 0 .3 0 -.1 -.1 .3 .3 .2 104.2 135.3 107.9 135.2 107.9 135.3 19.5 1.7 1.1 0 0 -.1 1.0 .1 0 0 .1 0 .2 0 .2 Intermediate materials less foods and energy.....|6/ 81.739 137.0 136.7 136.8 1.6 .1 0 -.1 0 | Crude energy materials 3/........................|8/ 39.555 122.4 134.8 154.7 76.0 14.8 4.6 -4.1 14.8 Crude materials less energy......................|8/ 60.445 107.4 109.9 112.4 2.6 2.3 2.1 .1 2.6 Crude nonfood materials less energy 4/...........|8/ 21.446 141.9 137.7 137.5 -5.8 -.1 -.6 -2.3 0 _______________________________________________________________________________________________________________________________ 1/ Comprehensive relative importance figures are initially computed after the publication of December indexes and are recalculated after final December indexes are available. The first-published and final December relative importances initially appear, respectively, in the release tables containing January and May data. The indexes for August 2000 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. 3/ 4/ 5/ 6/ 7/ Includes crude petroleum. Excludes crude petroleum. Percent of total finished goods. Percent of total intermediate materials. Formerly titled "Crude materials for 2/ further processing, excluding crude foodstuffs and feedstuffs, plant and animal fibers, oilseeds, and leaf tobacco." 8/ Percent of total crude materials. Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing (1982=100 unless otherwise indicated) ____________________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | | Unadjusted index |change to |percent change from: Commodity | | |Dec. 2000 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Aug. |Nov. |Dec. | Dec. | Nov. |Sept.to|Oct. to|Nov. to | |2000 1/|2000 1/|2000 1/| 1999 | 2000 | Oct. | Nov. | Dec. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 138.2 139.9 139.7 3.6 -0.1 0.4 0.1 0 | FINISHED CONSUMER GOODS...............................| 138.6 140.4 140.1 4.3 -.2 .5 .1 -.1 | FINISHED CONSUMER FOODS..............................| 137.2 138.1 137.9 1.7 -.1 .8 .2 -.4 | | 01-11 | Fresh fruits and melons 2/..........................| 72.9 90.7 92.5 -3.1 2.0 3.5 -3.3 2.0 01-13 | Fresh and dry vegetables 2/.........................| 127.3 149.7 110.8 -23.0 -26.0 4.8 4.0 -26.0 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 91.1 99.7 109.3 46.3 9.6 21.1 -9.5 12.3 02-11 | Bakery products 2/..................................| 183.1 185.0 184.6 2.8 -.2 .4 .5 -.2 02-13 | Milled rice 2/......................................| 100.9 95.1 95.0 -10.7 -.1 -3.9 1.2 -.1 02-14-02 | Pasta products (June 1985=100) 2/...................| 121.5 121.5 121.5 -.2 0 0 0 0 02-21-01 | Beef and veal.......................................| 112.4 114.5 118.9 8.6 3.8 1.6 .5 3.4 02-21-04 | Pork................................................| 117.5 105.0 109.1 4.8 3.9 2.3 1.8 -.6 02-22-03 | Processed young chickens............................| 110.6 115.1 110.5 -.5 -4.0 1.0 .4 -1.5 02-22-06 | Processed turkeys...................................| 98.2 108.1 102.6 -1.2 -5.1 1.8 -.2 -2.4 02-23 | Finfish and shellfish...............................| 200.8 189.6 192.5 .8 1.5 2.3 -2.4 1.3 02-3 | Dairy products......................................| 135.3 135.6 136.8 3.6 .9 -1.6 1.0 2.9 02-4 02-55 02-62 02-63-01 02-78 | Processed fruits and vegetables 2/..................| | Confectionery end products 2/.......................| | Soft drinks.........................................| | Roasted coffee 2/...................................| | Shortening and cooking oils 2/......................| | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| | | 02-61 | Alcoholic beverages.................................| 03-81-01 | Women's apparel 2/..................................| 03-81-02 | Men's and boys' apparel.............................| 03-81-03 | Girls', children's, and infants' apparel 2/.........| 03-82 | Textile housefurnishings 2/.........................| 04-3 | Footwear 2/.........................................| 05-41 | Residential electric power (Dec. 1990=100)..........| 05-51 | Residential gas (Dec. 1990=100).....................| 05-71 | Gasoline............................................| 05-73-02-01| Fuel oil No. 2......................................| 06-35 | Pharmaceutical preps, ethical (Prescription) 2/.....| 06-36 | Pharmaceutical preps,proprietary (Over-counter) 2/..| 06-71 | Soaps and synthetic detergents 2/...................| 06-75 | Cosmetics and other toilet preparations 2/..........| 07-12 | Tires, tubes, tread, etc 2/.........................| 09-15-01 | Sanitary papers and health products 2/..............| 09-31-01 | Newspaper circulation 2/............................| 09-32-01 | Periodical circulation..............................| 09-33 | Book publishing.....................................| 12-1 | Household furniture 2/..............................| 12-3 | Floor coverings 2/..................................| 12-4 | Household appliances ...............................| 12-5 | Home electronic equipment 2/........................| 12-62 | Household glassware.................................| 12-64 | Household flatware 2/...............................| 12-66 | Lawn and garden equip., ex. tractors 2/.............| 14-11-01 | Passenger cars......................................| 15-11 | Toys, games, and children's vehicles................| 15-12 | Sporting and athletic goods 2/......................| 15-2 | Tobacco products 2/.................................| 15-5 | Mobile homes 2/.....................................| 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 15-94-04 | Costume jewelry and novelties 2/....................| | | | CAPITAL EQUIPMENT.....................................| | | 11-1 | Agricultural machinery and equipment 2/.............| 128.4 170.9 144.7 130.4 130.7 127.7 171.0 144.7 126.3 133.1 127.4 170.5 144.3 126.3 132.4 -1.2 .1 3.6 -6.9 -1.7 -.2 -.3 -.3 0 -.5 .5 .1 .1 0 -1.0 -.4 -.2 .5 -3.2 1.8 139.0 141.2 140.8 5.4 -.3 .4 .1 142.1 124.5 133.1 118.0 122.6 145.1 114.9 137.2 94.3 92.9 346.4 188.3 127.7 137.8 92.9 146.5 208.3 200.8 218.9 152.9 130.2 106.5 71.4 166.1 144.8 131.6 129.2 121.7 125.9 402.3 161.8 127.2 142.3 141.7 123.3 133.4 118.4 121.3 145.1 109.7 155.9 100.0 105.3 346.5 187.1 130.0 138.5 93.4 146.4 214.9 198.8 220.7 153.7 130.3 106.5 71.3 167.6 148.0 131.7 135.0 122.1 125.5 403.9 162.3 127.3 142.3 143.5 123.4 133.2 118.4 121.3 145.5 110.7 167.0 89.6 102.9 348.7 187.0 130.2 138.5 93.3 145.4 215.1 199.4 222.6 153.8 132.7 106.7 71.3 167.8 148.8 131.6 134.9 122.1 125.2 404.2 162.1 127.5 142.3 4.5 -1.2 .2 1.0 -.4 .7 3.5 41.2 18.7 40.0 3.1 .2 2.4 1.5 -.1 .9 3.9 1.1 3.1 1.6 3.8 -1.4 -2.1 2.3 6.3 -.3 -.6 .7 -.6 2.3 1.5 .7 1.4 1.3 .1 -.1 0 0 .3 .9 7.1 -10.4 -2.3 .6 -.1 .2 0 -.1 -.7 .1 .3 .9 .1 1.8 .2 0 .1 .5 -.1 -.1 0 -.2 .1 -.1 .2 0 .3 .7 -.1 -.2 -.7 0 .8 5.2 -1.8 -3.4 1.6 -.6 .8 .2 .1 .7 .1 -.9 -.7 .4 .5 .8 0 1.2 0 .6 -1.8 .1 .1 .3 0 0 .8 -.6 -.4 .3 1.5 .2 0 -.7 1.2 1.4 -1.9 -1.6 0 -.3 .9 .4 -1.2 2.9 .2 .6 .1 .5 -.4 .1 .3 2.2 -.5 .1 -.1 -.4 0 .1 .1 .2 138.5 139.8 139.9 1.2 .1 153.7 153.1 153.4 .5 .2 0 .1 0 -.2 -.3 -.1 0 -.5 0 1.2 .1 -.1 0 0 .3 1.2 6.9 -8.4 -1.2 .6 -.1 .2 0 -.1 -.7 .1 .6 .9 .1 1.8 .3 0 .2 .5 -.1 .5 .1 -.2 .1 -.1 .2 0 .2 .1 .2 11-2 11-37 11-38 11-39 11-41 11-44 11-51 11-62 11-64 11-65 11-74 11-76 11-79-05 11-91 11-92 11-93 12-2 14-11-05 14-11-06 14-14 14-21-02 14-31 14-4 | Construction machinery and equipment................| 148.8 149.0 148.9 .9 -.1 .1 .1 .1 | Metal cutting machine tools 2/......................| 162.2 162.3 162.3 .7 0 .2 -.1 0 | Metal forming machine tools 2/......................| 163.0 163.0 162.7 1.8 -.2 -.2 0 -.2 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 141.1 141.3 141.2 .6 -.1 0 .1 -.1 | Pumps, compressors, and equipment...................| 154.6 154.8 154.9 1.7 .1 .4 0 .1 | Industrial material handling equipment 2/...........| 135.1 135.4 135.5 1.7 .1 .1 .1 .1 | Electronic computers (Dec. 1998=100) 2/.............| 71.1 70.1 68.7 -14.4 -2.0 -.7 -.3 -2.0 | Textile machinery 2/................................| 156.6 156.6 157.2 1.5 .4 .1 .1 .4 | Paper industries machinery (June 1982=100)..........| 164.8 164.8 164.8 .9 0 .1 -.2 -.1 | Printing trades machinery 2/........................| 143.0 143.2 143.8 1.8 .4 .5 0 .4 | Transformers and power regulators 2/................| 136.4 134.5 134.6 .1 .1 .7 -1.2 .1 | Communication & related equip. (Dec. 1985=100)......| 110.5 110.5 110.5 -.7 0 -.1 -.1 0 | X-ray and electromedical equipment 2/...............| 101.7 101.4 100.0 -3.2 -1.4 .2 -.9 -1.4 | Oil field and gas field machinery ..................| 128.0 129.6 129.8 2.4 .2 .9 -.1 .2 | Mining machinery and equipment 2/...................| 146.6 146.5 146.7 1.6 .1 -.1 0 .1 | Office and store machines and equipment 2/..........| 113.2 113.4 113.7 1.0 .3 0 -.4 .3 | Commercial furniture 2/.............................| 158.6 158.7 158.8 1.0 .1 -.1 .1 .1 | Light motor trucks..................................| 154.6 160.0 161.0 1.5 .6 -1.2 -.1 1.4 | Heavy motor trucks 2/...............................| 148.1 148.6 148.5 .8 -.1 .3 -.1 -.1 | Truck trailers 2/...................................| 140.7 140.6 139.5 1.4 -.8 0 .1 -.8 | Civilian aircraft (Dec. 1985=100)...................| 160.9 163.6 164.3 6.7 .4 1.4 .2 .6 | Ships (Dec. 1985=100) 2/............................| 146.5 146.5 146.5 .5 0 0 0 0 | Railroad equipment 2/...............................| 135.7 135.8 135.8 .2 0 .1 -.1 0 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 129.9 130.5 130.6 4.1 .1 .2 -.2 .2 | | | INTERMEDIATE FOODS AND FEEDS..........................| 110.6 111.6 113.5 3.5 1.7 .6 0 1.7 | | 02-12-03 | Flour 2/............................................| 102.9 107.2 106.1 7.0 -1.0 4.8 -1.3 -1.0 02-53 | Refined sugar 2/....................................| 109.9 106.0 106.0 -9.9 0 .7 1.0 0 02-54 | Confectionery materials.............................| 93.7 93.3 93.5 -1.0 .2 2.3 -.4 .2 02-72 | Crude vegetable oils 2/.............................| 68.7 65.9 63.8 -16.4 -3.2 -3.5 -8.1 -3.2 02-9 | Prepared animal feeds 2/............................| 99.6 103.5 107.1 8.1 3.5 .7 .5 3.5 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 131.0 131.5 131.5 4.2 0 .2 -.2 .2 | | 03-1 | Synthetic fibers 2/.................................| 108.0 110.5 110.5 6.9 0 .3 2.0 0 03-2 | Processed yarns and threads 2/......................| 108.0 108.1 107.8 .2 -.3 .2 .3 -.3 03-3 | Gray fabrics 2/.....................................| 113.4 114.8 115.0 2.9 .2 0 1.5 .2 03-4 | Finished fabrics....................................| 122.8 122.7 122.8 .7 .1 -.1 0 .3 03-83-03 | Industrial textile products 2/......................| 131.2 131.8 131.4 1.5 -.3 .1 -.1 -.3 04-2 | Leather.............................................| 181.0 184.6 187.7 5.5 1.7 -.7 -.4 1.1 05-32 | Liquefied petroleum gas 2/..........................| 128.3 150.4 150.5 47.1 .1 11.7 2.9 .1 ____________________________________________________________________________________________________________________________________ See footnotes at end of table. Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing - Continued (1982=100 unless otherwise indicated) ____________________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | | Unadjusted index |change to |percent change from: Commodity | | |Dec. 2000 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Aug. |Nov. |Dec. | Dec. | Nov. |Sept.to|Oct. to|Nov. to | |2000 1/|2000 1/|2000 1/| 1999 | 2000 | Oct. | Nov. | Dec. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 139.4 130.0 131.3 4.3 1.0 1.2 -0.5 2.3 05-43 | Industrial electric power...........................| 137.4 130.8 132.6 4.8 1.4 .7 .5 1.3 05-52 | Commercial natural gas (Dec. 1990=100)..............| 135.3 158.0 170.6 48.2 8.0 5.5 -1.2 6.6 05-53 | Industrial natural gas (Dec. 1990=100)..............| 140.4 164.8 223.8 98.2 35.8 7.9 -2.6 33.9 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 119.1 146.3 180.7 91.0 23.5 8.4 -2.8 22.6 05-72-03 | Jet fuels...........................................| 85.9 104.7 103.1 44.4 -1.5 -2.2 -.3 1.1 05-73-03 | No. 2 Diesel fuel...................................| 92.1 110.5 104.7 44.0 -5.2 -2.6 1.9 -.4 05-74 | Residual fuel 2/....................................| 85.1 95.6 88.9 30.0 -7.0 10.8 -3.3 -7.0 06-1 | Industrial chemicals 2/.............................| 130.4 129.6 130.2 5.2 .5 -.2 -.6 .5 06-21 | Prepared paint......................................| 160.4 162.4 161.6 2.5 -.5 .3 .3 -.5 06-22 | Paint materials 2/..................................| 148.2 148.9 150.1 4.0 .8 -1.3 1.2 .8 06-31 | Medicinal and botanical chemicals 2/................| 145.6 145.8 145.8 -.5 0 .1 0 0 06-4 | Fats and oils, inedible 2/..........................| 63.2 63.4 67.4 -27.3 6.3 3.0 -2.9 6.3 06-51 | Mixed fertilizers...................................| 112.5 112.3 113.4 1.9 1.0 .3 0 1.1 06-52-01 | Nitrogenates........................................| 121.5 134.2 141.2 44.1 5.2 2.8 2.2 5.5 06-52-02 | Phosphates 2/.......................................| 92.7 95.3 96.7 -7.7 1.5 1.6 -1.0 1.5 06-53 | Other agricultural chemicals 2/.....................| 146.4 144.9 146.3 1.4 1.0 -.1 -1.2 1.0 06-6 | Plastic resins and materials 2/.....................| 146.3 140.4 136.4 1.6 -2.8 0 -1.2 -2.8 07-11-02 | Synthetic rubber 2/.................................| 122.2 122.6 123.8 7.1 1.0 -1.4 1.1 1.0 07-21 | Plastic construction products ......................| 137.6 135.0 134.5 2.0 -.4 -.7 -.1 -.1 07-22 | Unsupported plastic film, sheet, & other shapes 2/..| 131.8 130.9 131.1 .4 .2 -.8 -.5 .2 07-26 | Plastic parts and components for manufacturing 2/...| 117.4 117.7 117.8 .6 .1 .1 0 .1 08-11 | Softwood lumber 2/..................................| 170.1 165.1 165.2 -14.3 .1 -.3 -1.4 .1 08-12 | Hardwood lumber ....................................| 186.8 187.1 185.8 1.9 -.7 .6 -.2 -.6 08-2 | Millwork 2/.........................................| 176.4 176.2 176.2 .4 0 -.1 -.1 0 08-3 | Plywood 2/..........................................| 152.6 152.6 151.0 -6.1 -1.0 1.0 -3.4 -1.0 09-11 | Woodpulp 2/.........................................| 149.1 153.6 149.9 14.6 -2.4 1.2 1.7 -2.4 09-13 | Paper 2/............................................| 151.0 152.1 151.4 4.1 -.5 .5 .1 -.5 09-14 | Paperboard 2/.......................................| 181.2 180.1 179.4 10.5 -.4 -.3 .3 -.4 09-15-03 09-2 09-37 10-15 10-17 10-22 10-25-01 10-25-02 10-26 10-3 10-4 10-5 10-6 10-7 10-88 10-89 11-45 11-48 11-49-02 11-49-05 11-71 11-73 11-75 11-78 11-94 11-95 13-11 13-22 13-3 13-6 13-7 13-8 14-12 14-23 14-25 15-42 15-6 | Paper boxes and containers 2/.......................| | Building paper and board 2/.........................| | Commercial printing (June 1982=100) 2/..............| | Foundry and forge shop products.....................| | Steel mill products 2/..............................| | Primary nonferrous metals 2/........................| | Aluminum mill shapes 2/.............................| | Copper and brass mill shapes 2/.....................| | Nonferrous wire and cable 2/........................| | Metal containers 2/.................................| | Hardware............................................| | Plumbing fixtures and brass fittings................| | Heating equipment...................................| | Fabricated structural metal products................| | Fabricated ferrous wire products (June 1982=100) 2/.| | Other misc. metal products 2/.......................| | Mechanical power transmission equipment.............| | Air conditioning and refrigeration equipment........| | Metal valves, ex.fluid power (Dec. 1982=100) 2/.....| | Ball and roller bearings............................| | Wiring devices......................................| | Motors, generators, motor generator sets............| | Switchgear, switchboard, etc., equipment............| | Electronic components and accessories 2/............| | Internal combustion engines.........................| | Machine shop products 2/............................| | Flat glass 2/.......................................| | Cement..............................................| | Concrete products...................................| | Asphalt felts and coatings 2/.......................| | Gypsum products 2/..................................| | Glass containers 2/.................................| | Motor vehicle parts 2/..............................| | Aircraft engines & engine parts (Dec. 1985=100).....| | Aircraft parts & aux.equip.,nec (June 1985=100) 2/..| | Photographic supplies 2/............................| | Medical/surgical/personal aid devices...............| | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| | | 01-21 | Wheat 2/............................................| 01-22-02-05| Corn 2/.............................................| 01-31 | Slaughter cattle 2/.................................| 174.3 133.6 156.1 136.4 108.9 113.9 149.4 162.6 145.7 107.3 151.4 182.1 156.1 144.5 129.8 126.0 163.9 135.5 162.2 169.8 152.6 146.4 153.3 97.6 144.2 138.0 110.4 150.3 148.1 106.5 194.2 127.5 113.5 141.0 146.3 124.9 145.9 175.7 131.2 157.0 136.9 106.6 110.8 149.1 164.3 146.1 106.2 151.7 180.1 156.2 144.8 130.3 125.9 164.3 135.0 163.3 169.8 153.1 146.5 153.1 97.0 144.2 138.8 111.1 149.9 149.1 104.9 170.3 127.4 113.0 141.6 145.2 126.4 146.6 175.6 129.5 157.0 136.7 106.6 113.7 151.1 166.8 145.7 106.0 151.9 180.2 156.2 144.8 130.0 126.0 165.8 135.0 163.3 170.0 153.5 146.5 153.6 96.3 144.1 139.4 111.4 150.1 149.1 105.6 165.4 127.4 113.0 141.2 145.1 126.3 146.9 7.1 -9.2 2.7 1.1 .5 2.2 5.8 4.9 5.7 -.5 1.3 1.1 1.4 .3 0 .2 2.4 .2 1.6 1.7 .1 .5 1.1 -1.6 .7 2.1 4.6 -.2 3.3 4.9 -27.2 1.4 -.8 1.5 1.2 -1.4 1.5 -.1 -1.3 0 -.1 0 2.6 1.3 1.5 -.3 -.2 .1 .1 0 0 -.2 .1 .9 0 0 .1 .3 0 .3 -.7 -.1 .4 .3 .1 0 .7 -2.9 0 0 -.3 -.1 -.1 .2 .2 -.8 .3 .3 0 -2.6 .1 1.0 .1 0 -.3 -.2 0 .1 .5 -.1 0 -.2 .4 .4 -.3 -.1 .2 -.8 .1 -.1 -.6 .4 -.2 1.2 -6.2 0 -.1 -.1 .1 -.7 -.1 -.1 -.2 .2 .1 -1.6 -4.8 -1.1 -2.5 .2 -1.0 .1 -.3 .3 0 -.2 0 .2 0 .2 .1 .5 .1 -.4 -.3 .2 .7 -.3 .3 0 -.7 -3.6 -.1 0 .1 0 .5 .1 -.1 -1.3 0 -.1 0 2.6 1.3 1.5 -.3 -.2 .1 .2 .1 .1 -.2 .1 .8 0 0 .1 .3 0 .5 -.7 .1 .4 .3 .7 .3 .7 -2.9 0 0 -.1 -.1 -.1 .3 118.3 125.5 136.2 31.6 8.5 3.4 -2.0 8.7 95.5 100.5 103.9 7.2 3.4 3.5 1.3 3.9 73.1 61.7 99.3 87.0 78.3 105.8 84.3 78.9 111.6 13.9 7.8 9.1 -3.1 .8 5.5 9.7 9.8 3.0 2.1 8.9 5.6 -3.1 .8 5.5 01-32 | Slaughter hogs......................................| 71.7 60.9 70.0 14.9 14.9 5.4 -9.6 12.0 01-41-02 | Slaughter broilers/fryers...........................| 118.9 135.1 132.5 -1.7 -1.9 8.3 -.1 4.3 01-42 | Slaughter turkeys...................................| 128.1 140.5 124.1 .8 -11.7 -2.4 .7 -2.6 01-6 | Fluid milk..........................................| 93.8 90.7 96.6 6.2 6.5 -5.4 -2.3 9.0 01-83-01-31| Soybeans 2/.........................................| 77.8 79.1 84.1 9.9 6.3 -4.1 -.4 6.3 02-52-01-01| Cane sugar,raw 2/...................................| 94.7 113.8 109.3 11.6 -4.0 11.5 2.2 -4.0 | | | CRUDE NONFOOD MATERIALS..............................| 129.7 138.2 153.5 47.2 11.1 3.3 -3.6 11.1 | | 01-51-01-01| Raw cotton..........................................| 98.1 102.8 101.8 30.2 -1.0 3.5 1.9 2.2 01-92-01-01| Leaf tobacco 2/.....................................| 99.6 104.3 115.8 3.4 11.0 -.6 -2.0 11.0 04-11 | Cattle hides 2/.....................................| 177.1 184.1 188.3 17.2 2.3 8.1 -3.8 2.3 05-1 | Coal 2/.............................................| 86.0 85.4 88.0 -.1 3.0 -.2 -1.2 3.0 05-31 | Natural gas 2/......................................| 151.9 171.9 232.5 158.3 35.3 12.3 -11.1 35.3 05-61 | Crude petroleum 2/..................................| 89.3 97.9 87.0 22.5 -11.1 -5.0 7.1 -11.1 08-5 | Logs, timber, etc...................................| 187.2 185.9 185.5 -9.9 -.2 .3 -.5 .2 09-12 | Wastepaper 2/.......................................| 258.3 215.9 197.7 -19.2 -8.4 -5.0 -5.2 -8.4 10-11 | Iron ore 2/.........................................| 94.9 94.9 94.9 .1 0 2.3 0 0 10-12 | Iron and steel scrap 2/.............................| 134.7 117.8 118.0 -28.9 .2 -6.6 -8.2 .2 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 67.6 66.5 67.6 2.4 1.7 1.6 -3.9 1.7 10-23-01 | Copper base scrap 2/................................| 125.8 125.1 127.3 8.3 1.8 .3 -3.2 1.8 10-23-02 | Aluminum base scrap.................................| 175.0 165.7 162.8 -9.9 -1.8 -1.3 -4.4 -2.8 13-21 | Construction sand, gravel, and crushed stone........| 164.1 164.7 164.1 3.4 -.4 .1 .3 -.5 ____________________________________________________________________________________________________________________________________ 1/ The indexes for August 2000 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. 2/ 3/ Not seasonally adjusted. Not available. Table 3. Producer price indexes for selected commodity groupings (1982=100 unless otherwise indicated) _______________________________________________________________________________________________ | | | | | Unadjusted index 1/ | Commodity| |___________________________________| code | Grouping | Aug. 2000 | Nov. 2000 | Dec. 2000 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 387.9 | 392.7 | 392.0 | | All commodities................................| 132.9 | 134.6 | 135.7 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 120.4 | 122.6 | 123.9 | 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 01-1 01-2 01-3 01-4 01-5 01-7 01-8 01-83 01-9 02-1 02-2 02-22 02-5 02-6 02-63 02-7 03-81 04-4 05-3 05-4 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Farm products................................| Processed foods and feeds....................| | Industrial commodities.........................| Textile products and apparel.................| Hides, skins, leather, and related products..| Fuels and related products and power 2/......| Chemicals and allied products 2/.............| Rubber and plastic products..................| Lumber and wood products.....................| Pulp, paper, and allied products.............| Metals and metal products....................| Machinery and equipment......................| Furniture and household durables.............| Nonmetallic mineral products.................| Transportation equipment.....................| Miscellaneous products.......................| | Industrial commodities less fuels and related | products and power...........................| | | OTHER COMMODITY GROUPINGS | | Fruits and melons, fresh and dry vegetables, | and tree nuts................................| Grains.........................................| Slaughter livestock............................| Slaughter poultry..............................| Plant and animal fibers........................| Chicken eggs...................................| Hay, hayseeds, and oilseeds....................| Oilseeds.......................................| Other farm products............................| Cereal and bakery products.....................| Meats, poultry, and fish.......................| Processed poultry..............................| Sugar and confectionery........................| Beverages and beverage materials...............| Packaged beverage materials....................| Fats and oils..................................| Apparel........................................| Other leather and related products.............| Gas fuels 2/...................................| Electric power.................................| 94.6 133.2 135.2 121.7 152.3 105.1 152.0 125.7 174.4 184.5 128.0 124.1 132.6 142.7 142.9 171.5 142.5 100.3 66.8 92.8 119.6 96.7 108.6 99.4 87.4 148.6 158.5 122.0 113.3 132.0 143.6 129.2 107.0 127.5 146.2 143.8 136.7 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 101.4 133.1 136.9 121.9 154.1 110.9 151.6 126.0 172.9 184.9 126.8 124.1 132.9 142.2 145.1 172.9 142.8 120.3 81.2 94.3 134.7 101.2 112.1 103.4 89.9 155.6 159.9 119.8 116.8 132.4 143.1 125.8 107.7 127.2 146.2 164.1 129.5 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 103.3 134.1 138.0 121.8 155.5 114.8 151.7 126.1 172.6 184.5 127.1 124.0 133.2 142.3 145.2 173.3 142.8 106.0 81.2 100.9 129.1 100.2 122.3 107.7 94.7 172.7 159.8 121.3 113.6 131.9 143.8 126.6 107.1 127.1 146.3 208.3 130.9 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 05-7 06-3 06-5 06-7 07-1 07-11 07-13 07-2 08-1 09-1 | Refined petroleum products.....................| 90.6 | 100.3 | 92.9 | | Drugs and pharmaceuticals......................| 258.4 | 258.1 | 259.3 | | Agricultural chemicals and products............| 124.1 | 127.1 | 129.7 | | Other chemicals and allied products............| 137.2 | 138.3 | 138.5 | | Rubber and rubber products.....................| 115.9 | 116.2 | 116.4 | | Rubber, except natural rubber..................| 121.6 | 121.9 | 123.2 | | Miscellaneous rubber products..................| 139.4 | 139.4 | 139.7 | | Plastic products...............................| 133.5 | 133.8 | 133.8 | | Lumber.........................................| 173.2 | 169.9 | 169.5 | | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 162.4 | 161.9 | 160.9 | 09-15 | Converted paper and paperboard products........| 163.7 | 164.3 | 163.9 | 10-1 | Iron and steel.................................| 116.2 | 113.2 | 113.1 | 10-2 | Nonferrous metals..............................| 128.3 | 126.9 | 127.9 | 10-25 | Nonferrous mill shapes.........................| 143.7 | 143.8 | 145.6 | 11-3 | Metalworking machinery and equipment...........| 149.9 | 150.0 | 150.0 | 11-4 | General purpose machinery and equipment........| 151.0 | 151.2 | 151.4 | 11-6 | Special industry machinery.....................| 163.4 | 163.6 | 163.5 | 11-7 | Electrical machinery and equipment.............| 118.9 | 118.6 | 118.4 | 11-9 | Miscellaneous machinery and equipment..........| 134.5 | 134.9 | 135.2 | 12-6 | Other household durable goods..................| 155.9 | 156.3 | 156.5 | 13-2 | Concrete ingredients...........................| 156.3 | 156.5 | 156.2 | 14-1 | Motor vehicles and equipment...................| 130.5 | 133.4 | 133.6 | 15-1 | Toys, sporting goods, small arms, etc..........| 132.4 | 132.2 | 132.1 | 15-4 | Photographic equipment and supplies............| 109.1 | 109.3 | 109.8 | 15-9 | Other miscellaneous products...................| 136.6 | 137.5 | 137.9 | __________________________________________________________|___________|___________|___________| 1/ 2/ Data for August 2000 have been revised to reflect the availability of late reports and corrections by respondents. All data are subject to revision 4 months after original publication. Prices of some items in this grouping are lagged 1 month. Table 4. Producer price indexes for the net output of major industry groups, not seasonally adjusted __________________________________________________________________________________________________________________ | | | Index | Percent change Industry | Industry 1/ |Index|_______________________|to_Dec._2000_from: code | |base | | | | | | | |Aug. |Nov. |Dec. | Dec. | Nov. | | |2000 2/|2000 2/|2000 2/| 1999 | 2000 __________________|______________________________________________|_____|_______|_______|_______|________|_________ | | | |Total mining industries...................... |12/84| 113.8 124.6 139.6 61.0 12.0 10 | Metal mining................................ |12/84| 73.4 72.5 73.5 1.2 1.4 12 | Coal mining................................. |12/85| 83.3 83.1 84.8 -.7 2.0 13 14 | Oil and gas extraction...................... |12/85| 127.4 142.3 162.0 79.2 13.8 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 137.8 138.1 138.2 2.8 .1 | | | |Total manufacturing industries............... |12/84| 133.5 134.9 134.4 3.0 -.4 20 | Food and kindred products................... |12/84| 128.7 128.8 129.6 2.3 .6 21 | Tobacco manufactures........................ |12/84| 350.4 351.6 351.8 2.0 .1 22 | Textile mill products....................... |12/84| 116.9 117.0 117.5 1.2 .4 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 125.9 125.9 125.9 .5 0 24 | Lumber and wood products, except furniture.. |12/84| 155.7 154.3 154.2 -4.0 -.1 25 | Furniture and fixtures...................... |12/84| 143.6 143.8 143.8 1.2 0 26 | Paper and allied products................... |12/84| 147.3 147.3 147.0 4.7 -.2 27 | Printing, publishing, and allied industries. |12/84| 183.6 184.8 185.1 3.3 .2 28 | Chemicals and allied products............... |12/84| 157.5 158.5 159.0 4.0 .3 29 | Petroleum refining and related products..... |12/84| 112.6 122.5 114.4 24.6 -6.6 30 | Rubber and miscellaneous plastic products... |12/84| 124.7 124.8 124.8 1.1 0 31 | Leather and leather products................ |12/84| 137.8 138.2 138.9 1.4 .5 32 | Stone, clay, glass, and concrete products... |12/84| 134.5 134.1 134.1 .4 0 33 | Primary metal industries.................... |12/84| 120.4 119.2 119.2 1.5 0 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 130.4 130.5 130.5 .6 0 35 | Machinery, except electrical................ |12/84| 117.6 117.7 117.7 .6 0 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 108.1 107.8 107.7 -1.1 -.1 37 | Transportation equipment.................... |12/84| 135.7 138.2 138.4 1.6 .1 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 126.2 126.3 126.4 .6 .1 39 | Miscellaneous manufacturing industries...... |12/85| 131.0 131.2 131.3 .6 .1 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 102.7 103.1 103.5 1.9 .4 42 | Motor freight transportation and warehousing |06/93| 120.1 121.6 121.5 4.9 -.1 43 | United states postal service................ |06/89| 135.2 135.2 135.2 0 0 44 | Water transportation........................ |12/92| 126.1 127.8 126.1 8.6 -1.3 45 | Transportation by air....................... |12/92| 147.9 153.1 154.2 14.9 .7 46 | Pipe lines, except natural gas.............. |12/86| 102.5 102.7 102.7 4.6 0 54 | Food stores................................. |12/99| 101.4 104.3 104.7 4.7 .4 80 | Health services............................. |12/94| 113.2 113.8 114.1 3.0 .3 81 | Legal services.............................. |12/96| 112.5 112.9 112.8 2.7 -.1 __________________________________________________________________________________________________________________ 1/ Indexes in this table are derived from the net-output-weighted industry price indexes. Because of differences in coverage and aggregation methodology, they will generally not match the movements of similarly titled indexes which are derived from traditional commodity groupings. 2/ The indexes for August 2000 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. 3/ Not available. Table 5. Producer price indexes by stage of processing, seasonally adjusted (1982=100) _____________________________________________________________________________________________________________ | | Index 1/ |_____________________________________________________ Grouping | | | | | | | July | Aug. | Sep. | Oct. | Nov. | Dec. | 2000 | 2000 | 2000 | 2000 | 2000 | 2000 _______________________________________________________|________|________|________|________|________|________ | Finished goods...................................| 138.4 137.9 139.0 139.5 139.7 139.7 Finished consumer goods........................| 138.6 138.0 139.4 140.1 140.3 140.1 Finished consumer foods......................| 137.3 136.4 136.7 137.8 138.1 137.6 Crude......................................| 117.2 118.0 123.0 133.0 133.0 121.6 Processed..................................| 139.0 137.9 137.8 138.2 138.5 138.9 Finished consumer goods, excluding foods.....| 139.0 138.5 140.3 140.9 141.0 141.0 Nondurable goods less foods................| 139.5 138.8 141.1 142.1 142.3 142.1 Durable goods..............................| 133.9 133.9 134.5 133.9 133.9 134.5 Capital equipment..............................| 138.9 139.1 139.3 139.3 139.3 139.6 Manufacturing industries.....................| 139.6 139.6 139.7 139.8 139.9 140.0 Nonmanufacturing industries..................| 138.7 138.8 139.1 139.0 139.0 139.4 | Intermediate materials, supplies, and components.| 129.9 129.4 130.3 130.6 130.4 130.7 Materials and components for manufacturing.....| 128.9 128.5 128.5 128.5 128.2 128.2 Materials for food manufacturing.............| 120.2 118.6 118.6 119.1 118.8 119.7 Materials for nondurable manufacturing.......| 134.5 134.0 133.6 133.8 133.7 133.5 Materials for durable manufacturing..........| 129.4 129.0 129.5 129.2 127.8 128.0 Components for manufacturing.................| 126.4 126.4 126.4 126.3 126.3 126.2 Materials and components for construction......| 150.7 150.3 150.3 150.2 149.9 150.1 Processed fuels and lubricants.................| 103.1 102.2 106.5 107.7 107.8 108.9 Manufacturing industries ....................| 102.2 101.7 103.9 106.0 105.9 108.4 Nonmanufacturing industries..................| 103.2 102.1 107.6 108.4 108.4 108.8 Containers.....................................| 153.3 153.0 153.5 153.3 153.1 152.9 Supplies.......................................| 137.4 137.0 137.4 137.6 137.6 138.2 Manufacturing industries.....................| 144.0 144.1 144.2 144.3 144.6 144.7 Nonmanufacturing industries..................| 134.5 134.1 134.5 134.7 134.7 135.3 Feeds......................................| 95.1 90.7 93.6 94.5 95.2 99.3 Other supplies.............................| 139.3 139.3 139.4 139.6 139.5 139.8 | Crude materials for further processing...........| 121.8 117.3 124.4 128.6 126.0 136.9 Foodstuffs and feedstuffs......................| 97.4 93.2 96.6 100.0 101.3 105.3 Nonfood materials..............................| 134.3 129.6 139.0 143.6 138.4 153.7 Nonfood materials except fuel 2/.............| 116.2 119.2 124.0 120.5 123.4 116.3 Manufacturing 2/...........................| 107.0 109.9 114.5 111.2 114.0 107.3 Construction...............................| 192.4 185.4 184.1 184.6 183.5 182.9 Crude fuel 3/................................| 148.3 133.6 148.5 163.7 147.9 192.6 Manufacturing industries...................| 148.0 133.9 149.0 164.7 148.8 193.7 Nonmanufacturing industries................| 150.9 136.0 151.0 166.5 150.4 195.9 | Special groupings | | Finished goods, excluding foods..................| 138.6 138.3 139.6 140.0 140.1 140.2 Intermediate materials less foods and feeds......| 130.9 130.5 131.4 131.6 131.4 131.7 Intermediate foods and feeds.....................| 112.5 110.0 110.9 111.6 111.6 113.5 Crude materials less agricultural products 2/....| 136.2 131.1 140.7 145.4 140.0 155.6 | Finished energy goods............................| 95.6 93.9 97.8 99.2 99.6 98.9 Finished goods less energy.......................| 144.9 144.9 145.1 145.4 145.5 145.6 Finished consumer goods less energy..............| 147.4 147.3 147.6 148.0 148.1 148.2 | Finished goods less foods and energy.............| 147.9 148.2 148.5 148.4 148.4 148.8 Finished consumer goods less foods and energy....| 153.9 154.4 154.6 154.6 154.5 155.0 Consumer nondurable goods less foods and energy..| 169.6 170.4 170.4 170.9 170.8 171.1 | Intermediate energy goods........................| 102.8 101.9 106.2 107.4 107.4 108.5 Intermediate materials less energy...............| 135.7 135.3 135.4 135.4 135.2 135.4 Intermediate materials less foods and energy.....| 137.2 137.0 137.0 137.0 136.8 136.8 | Crude energy materials 2/........................| 127.6 122.4 134.3 140.5 134.8 154.7 Crude materials less energy......................| 109.3 105.6 108.3 110.6 110.7 113.6 Crude nonfood materials less energy 3/...........| 143.9 141.5 142.3 141.5 138.3 138.3 _____________________________________________________________________________________________________________ 1/ 2/ 3/ All seasonally adjusted indexes are subject to change up to 5 years after original publication due to the recalculation of seasonal factors each January. The indexes for August 2000 have been recalculated to incorporate late reports and corrections by respondents. Includes crude petroleum. Excludes crude petroleum. Technical Notes Brief Explanation of Producer Price Indexes The term Producer Price Index (PPI) refers to a family of indexes that measure the average change over time in the selling prices received by domestic producers of goods and services. PPIs measure price change from the perspective of the seller. This contrasts with other measures, such as the Consumer Price Index (CPI); CPIs measure price change from the purchaser's perspective. Sellers' and purchasers' prices may differ due to government subsidies, sales and excise taxes, and distribution costs. More than 10,000 PPIs for individual products and groups of products are released each month. PPIs are available for the products of virtually every industry in the mining and manufacturing sectors of the U.S. economy. New PPIs are gradually being introduced for the products of industries in the transportation, utilities, trade, finance, and services sectors of the economy. More than 100,000 price quotations per month are organized into three sets of producer price indexes: (1) Stage of processing indexes; (2) commodity indexes; and (3) indexes for the net output of industries and their products. The stage-of-processing structure (tables 1, 2, and 5) organizes products by class of buyer and degree of fabrication. The commodity structure (tables 2 and 3) organizes products by similarity of end-use or material composition. The entire output of various industries is sampled to derive price indexes for the net output of industries and their products (table 4). Within the stage-of-processing system, finished goods are commodities that will not undergo further processing and are ready for sale to the final demand user, either an individual consumer or business firm. Consumer foods include unprocessed foods such as eggs and fresh vegetables, as well as processed foods such as bakery products and meats. Other finished consumer goods include durable goods such as automobiles, household furniture, and appliances; and nondurable goods such as apparel and home heating oil. Capital equipment includes producer durable goods such as heavy motor trucks, tractors, and machine tools. The stage-of-processing category for intermediate materials, supplies, and components consists partly of commodities that have been processed but require further processing. Examples of such semifinished goods include flour, cotton yarn, steel mill products, and lumber. The intermediate goods category also encompasses nondurable physically complete items purchased by business firms as inputs for their operations. Examples include diesel fuel, belts and belting, paper boxes, and fertilizers. Crude materials for further processing are products entering the market for the first time that have not been manufactured or fabricated and that are not sold directly to consumers. Crude foodstuffs and feedstuffs include items such as grains and livestock. Examples of crude nonfood materials include raw cotton, crude petroleum, coal, hides and skins, and iron and steel scrap. Producer price indexes for the net output of industries and their products are grouped according to the Standard Industrial Classification (SIC). Industry price indexes are compatible with other economic time series organized by SIC codes, such as data on employment, wages, and productivity. Table 4 lists indexes for the net output of major mining and manufacturing industry groups at the 2-digit level. Producer price indexes are based on selling prices reported by establishments of all sizes selected by probability sampling, with the probability of selection proportionate to size. Individual items and transaction terms from these firms are also chosen by probability proportionate to size. BLS strongly encourages cooperating companies to supply actual transaction prices at the time of shipment to minimize the use of list prices. Prices are normally reported by mail questionnaire for the Tuesday of the week containing the 13th. Price data are provided on a voluntary and confidential basis; no one but sworn BLS employees are allowed access to individual company price reports. The Bureau publishes price indexes instead of unit dollar prices. All producer price indexes are routinely subject to revision once, 4 months after original publication, to reflect the availability of late reports and corrections by respondents. The BLS periodically updates the PPI sample of survey respondents to better reflect current conditions when the structure, membership, technology, or product mix of an industry shifts significantly and to spread reporting burden among smaller firms. Results of these resampling efforts are incorporated into the PPI every January and July. As part of an ongoing effort to expand coverage to sectors of the economy other than mining and manufacturing, an increasing number of service sector industries have been introduced into the PPI. The following list of recently introduced service industries includes the month in which an article describing the industry's content appeared in the PPI Detailed Report: Industry SIC PPI Detailed Report Issue Wireless Telecommunications Telephone Communications, Except Radio Telephone Grocery Stores Meat and Fish (Seafood) Markets, Fruit and Vegetable Markets Candy, Nut, and Confectionery Stores Retail Bakeries Miscellaneous Food Stores New Car Dealers Life Insurance Carriers Property and Casualty Insurance Operators and Lessors of Nonresidential Buildings Real Estate Agents and Managers Prepackaged Software Home Health Care Services Legal Services Engineering, Design, Analysis, and Consulting Services Architectural, Design, Analysis, and Consulting Services Premiums for Property and Casualty Insurance 4812 July 1999 4813 5411 5421 5431 5441 5461 5499 5511 6311 6331 July 1995 July 2000 July 2000 July 2000 July 2000 July 2000 July 2000 July 2000 January 1999 July 1998 6512 6531 7372 8082 8111 January January January January January 8711 January 1997 8712 January 1997 9331 July 1998 1996 1996 1998 1997 1997 Weights for most traditional commodity groupings of the PPI, as well as all indexes (such as stage-of-processing indexes) calculated from traditional commodity groupings, currently reflect 1992 values of shipments as reported in the Census of Manufactures and other sources. From January 1992 through December 1995, PPI weights were derived from 1987 shipment values. Industry indexes shown in table 4 are also now calculated with 1992 net output weights. This periodic update of the value weights used to calculate the PPI is done to more accurately reflect changes in production and marketing patterns in the economy. Net output values of shipments are used as weights for industry indexes. Net output values refer to the value of shipments from establishments in one industry to establishments classified in another industry. However, weights for commodity price indexes are based on gross shipment values, including shipment values between establishments within the same industry. As a result, broad commodity grouping indexes such as the all commodities index are affected by the multiple counting of price change at successive stages of processing, which can lead to exaggerated or misleading signals about inflation. Stage-ofprocessing indexes partially correct this defect, but industry indexes consistently correct for this at all levels of aggregation. Therefore, industry and stage-of-processing indexes are more appropriate than broad commodity groupings for economic analysis of general price trends. Effective with publication of January 1988 data, many important PPI series (including stage-of-processing groupings and most commodity groups and individual items) were placed on a new reference base, 1982=100. From 1971 through 1987, the standard reference base for most PPI series was 1967=100. Except for rounding differences, the shift to the new reference base did not alter any changes to previously published percent changes for affected PPI series. (See "Calculating Index Changes," below.) The new reference base is not used for indexes with a base later than December 1981, nor for indexes for the net output of industries and their products. For further information on the underlying concepts and methodology of the Producer Price Index, see chapter 14, "Producer Prices," in BLS Handbook of Methods (April 1997), Bulletin 2490. Reprints are available from the Bureau of Labor Statistics on request. Calculating Index Changes Each index measures price changes from a reference period which equals 100.0 (1982 or some later month). An increase of 5.5 percent from the reference period in the Finished Goods Price Index, for example, is shown as 105.5. This change can also be expressed in dollars as follows: "Prices received by domestic producers of a systematic sample of finished goods have risen from $100 in 1982 to $105.50 today." Likewise, a current index of 90.0 would indicate that prices received by producers of finished goods today are 10 percent lower than they were in 1982. Movements of price indexes from one month to another are usually expressed as percent changes rather than as changes in index points because index point changes are affected by the level of the index in relation to its base period, while percent changes are not. The example below shows the computation of index point and percent changes. Index point change Finished Goods Price Index Less previous index Equals index point change 107.5 104.0 3.5 Index percent change Index point change Divided by the previous index Equals Result multiplied by 100 Equals percent change 3.5 104.0 0.034 0.034 x 100 3.4 Because price data are used for different purposes by different groups, the Bureau of Labor Statistics publishes seasonally adjusted and unadjusted changes each month. Seasonally Adjusted and Unadjusted Data Seasonally adjusted data are preferred for analyzing general price trends in the economy because they eliminate the effect of changes that normally occur at about the same time and in about the same magnitude every year--such as price movements resulting from normal weather patterns, regular production and marketing cycles, model changeovers, seasonal discounts, and holidays. For these reasons, seasonally adjusted data more clearly reveal underlying cyclical trends. Unadjusted data are of primary interest to users who need information that can be related to actual dollar values of transactions. Individuals requiring this information include marketing specialists, purchasing agents, budget and cost analysts, contract specialists, and commodity traders. It is the unadjusted data that are generally cited in escalating long-term contracts such as purchasing agreements or real estate leases. (See Escalation and Producer Price Indexes: A Guide for Contracting Parties, BLS Report 807, September 1991, available on request from BLS.) For more information, see "Appendix A: Seasonal Adjustment Methodology at BLS," in the BLS Handbook of Methods (April 1997), Bulletin 2490 and (2) "Summary of Changes to the PPI's Seasonal Adjustment Methodology" in the January 1995 issue of Producer Price Indexes.
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