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FOR DATA ONLY: (202) 691-5200 FOR TECHNICAL INFORMATION: (202) 691-7705 MEDIA CONTACT: (202) 691-5902 http://www.bls.gov/ppi USDL 02-024 TRANSMISSION OF MATERIAL IN THIS RELEASE IS EMBARGOED UNTIL 8:30 A.M. (E.S.T.), FRIDAY, JANUARY 11, 2002 Producer Price Indexes -- December 2001 The Producer Price Index for Finished Goods declined 0.7 percent in December, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. The December decline follows decreases of 0.6 percent in November and 1.6 percent in October. Prices received by producers of intermediate goods decreased 0.9 percent, following a 0.5percent decline in the prior month. The crude goods index dropped 9.5 percent, after posting a 7.3-percent rise 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 | |--------------------------------------------------------------------------------------| 2000 Dec. 0.1 -0.3 0.8 0.1 3.6 0.4 9.3 2001 Jan. Feb. Mar. Apr. May June July Aug. Sept. Oct. Nov. Dec. r=revised. 1.1 .1 -.1 .5 .1 -.4 -1.2 r .4 r .5 -1.6 -.6 -.7 Some of the .9 4.4 .5 4.8 .8 17.5 .8 .4 -.3 4.0 -.2 -14.5 .9 -2.4 .1 3.0 -.3 -6.7 .6 1.1 .3 3.7 -.1 .5 -.2 .4 .2 3.9 .1 -2.2 -.2 -2.5 .1 2.6 -.2 -8.1 -.4 -7.6 .1 1.4 -1.2 -5.4 .7 r 1.3 r .1 r 2.0 r -.3 r -.7 .2 r 2.2 r .1 1.6 r .2 r -3.7 -.4 -7.7 -.5 -.4 -1.5 -9.1 -.8 -3.8 .2 -1.1 -.5 7.3 -.1 -4.0 -.1 -1.8 -.9 -9.5 figures shown above and elsewhere in this release may differ from those previously reported because data for August 2001 have been revised to reflect the availability of late reports and corrections by respondents. Over three fourths of the decrease in December's finished goods index can be traced to falling energy prices -- which declined 4.0 percent, following a 3.8-percent decrease in November. The index for finished goods other than foods and energy declined 0.1 percent in December, following a 0.2-percent gain in November. Finished consumer foods prices decreased 0.1 percent in December, following a 0.8-percent decline a month earlier. Before seasonal adjustment, the Producer Price Index for Finished Goods decreased 0.9 percent to stand at 137.2 (1982=100). From December 2000 to December 2001, finished goods prices fell 1.8 percent -- the largest 12-month rate of decline since a 2.3-percent drop for the 12 months ended in December 1986. This index rose 3.6 percent during 2000. Prices for finished energy goods turned down 17.2 percent in 2001, following a 16.6-percent advance in the previous calendar year. For the 12 months ended in December 2001, the index for finished goods other than foods and energy rose 0.7 percent, after posting a 1.3-percent gain in 2000. Prices for finished consumer foods advanced at about the same rate in 2001 as in the prior calendar year -- 1.8 and 1.7 percent, respectively. At the earlier stages of processing, the intermediate goods index decreased 4.0 percent from December 2000 to December 2001, after registering a 4.1percent rise during 2000. Prices received by producers of crude materials for further processing dropped 32.4 percent in 2001, following a 35.5percent 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 _________________________________________________________________________________________ | | Percentage | | | | change 12 | Seasonally adjusted annual rate | | | months ended | for 3 months ended in: | | Grouping | in December | | | |--------------------|------------------------------------| | | | | | | | | 1999 | 2000 | 2001 | Mar. | June | Sept. | Dec. | | | | | | 2001 | 2001 | 2001 | 2001 | |-----------------------------------------------------------------------------------------| Finished goods 2.9 3.6 -1.8 4.7 0.9 -1.4 -10.8 Finished consumer foods .8 1.7 1.8 10.5 .9 2.0 -5.2 Finished energy goods 18.1 16.6 -17.2 9.5 -4.2 -16.3 -47.0 Finished goods less foods and energy .9 1.3 .7 1.3 2.2 1.3 -1.8 Finished consumer goods, excluding foods and energy Capital equipment Intermediate materials, supplies, and components Intermediate foods and feeds Intermediate energy goods Intermediate materials less foods and energy Materials for nondurable manufacturing Materials for durable manufacturing Materials and components for construction 1.2 .3 1.4 1.2 1.3 -.1 2.3 0 2.8 .6 1.3 1.7 -1.3 -2.8 3.7 -4.2 19.6 4.1 3.6 19.0 -4.0 .5 -17.2 1.2 2.5 -.4 -.6 5.7 -.7 -5.1 8.2 -15.6 -11.0 -12.8 -43.2 1.9 1.6 -1.6 1.5 -.9 -3.7 -3.2 4.0 4.1 -5.4 7.1 -8.3 -8.4 -10.9 2.4 .2 -3.9 -3.4 -.6 -6.2 -5.4 2.2 .1 .5 3.5 -2.1 -1.8 0 Crude materials for further processing 15.3 35.5 -32.4 -22.7 -33.2 -33.3 -39.1 Foodstuffs and feedstuffs -.1 7.4 -7.4 15.6 -6.8 4.2 -34.5 Crude energy materials 36.9 85.6 -53.0 -42.4 -52.0 -61.6 -53.9 Crude nonfood materials less energy 14.0 -5.5 -9.9 -10.8 -15.0 -4.5 -9.3 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 Prices for finished energy goods fell 4.0 percent in December, after decreasing 3.8-percent in November. The gasoline and liquefied petroleum gas indexes led December's decline -- tumbling 8.2 and 19.3 percent, respectively. Falling prices for home heating oil, residential natural gas, diesel fuel, and residential electric power also contributed to the decrease for the finished energy goods index. The index for finished consumer goods other than foods and energy turned down 0.1 percent in December, after rising 0.3 percent in November. Passenger car prices fell 0.7 percent, following a 0.9-percent advance in the prior month. The index for cigarettes showed no change, after increasing in November. December light motor truck prices declined at a faster pace than they did a month earlier. The indexes for men's and boys' apparel, textile housefurnishings, women's apparel, and floor coverings turned down in December. Conversely, book publishing prices increased 1.1 percent in December, compared with a 1.0-percent decline in the previous month. The indexes for sanitary papers and health products, pharmaceutical preparations, and newspaper circulation also turned up, after falling in November. During the 2001 calendar year, prices for finished consumer goods other than foods and energy increased 1.3 percent, following a 1.4percent hike in 2000. 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 | | | | | Except |12 months | | | Except | months | | | | |foods and| ago | | Energy |foods and| ago | |Month | Foods | Energy | energy | (unadj.) | Foods | (unadj.)| energy |(unadj.) | |----------------------------------------------------------------------------------| 2000 Dec. 1.8 1.4 0.0 4.1 3.6 15.8 0.4 35.5 2001 Jan. 1.4 4.1 .1 4.6 1.6 31.7 0 55.7 Feb. -1.1 -1.7 .1 3.5 -1.3 -23.0 -1.8 28.0 Mar. .4 -2.4 .1 2.3 3.4 -14.0 -1.0 17.1 Apr. -.1 -.1 -.1 2.1 -.5 2.1 -2.4 19.6 May .4 .6 0 2.3 -1.3 -3.2 -.6 13.3 June 1.0 -.6 -.1 1.2 0 -15.8 -1.1 -4.0 July .7 -5.3 -.5 -.2 r .4 -12.4 .8 -7.3 Aug. 1.7 r -.6 r -.4 r -.2 r -.4 r -.5 r -1.8 r -4.5 Sept. -.4 r 1.8 -.1 -.8 1.0 r -9.7 r -.1 -14.3 Oct. -.8 -7.6 -.4 -2.4 -2.6 -19.2 -1.7 -25.0 Nov. -1.5 -1.6 -.2 -2.9 -5.9 28.3 -.8 -18.4 Dec. -1.0 -4.5 -.2 -4.0 -1.9 -20.5 .1 -32.4 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for August 2001 have been revised to reflect the availability of late reports and corrections by respondents. Capital equipment prices inched down 0.1 percent in December, after rising 0.1 percent a month earlier. The index for passenger cars declined 0.7 percent, following a 0.9-percent gain in November. Prices for light motor trucks and electronic computers fell more quickly in December than they did in the prior month. The index for communication and related equipment rose less than it did in November. Prices for agricultural machinery and equipment and for construction machinery and equipment turned down from last month's increases. By contrast, the index for civilian aircraft advanced 0.2 percent in December, following a 0.2-percent decline in November. Prices for heavy motor trucks, office and store machines and equipment, and industrial material handling equipment also turned up, after falling in the previous month. The index for x-ray and electromedical equipment rose, following no change in November. For the 12 months ended December 2001, capital equipment prices decreased 0.1 percent, after increasing 1.2 percent during the previous calendar year. Prices for finished consumer foods edged down 0.1 percent in December, after registering a 0.8-percent decline in November. Falling prices for dairy products, eggs for fresh use, pork, finfish and shellfish, and processed young chickens slightly outweighed price increases for fresh fruits and melons, fresh and dry vegetables, beef and veal, processed fruits and vegetables, and confectionery end products. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components moved down 0.9 percent in December, seasonally adjusted, following a 0.5-percent drop in November. Prices for intermediate energy goods fell more in December than they did in the previous month. The index for materials and components for construction declined this month, after showing no movement in November. On the other hand, prices for materials for durable manufacturing, intermediate foods and feeds, and materials for nondurable manufacturing all decreased less in December than they did in the preceding month. For the second straight month, the index for intermediate materials other than foods and energy fell at a 0.2-percent rate. (See table B.) The index for intermediate energy materials decreased 4.5 percent in December, after registering a 1.6-percent decline in November. This faster rate of decline was led by diesel fuel prices, which fell 19.5 percent in December and 1.8-percent in the previous month. Prices for liquefied petroleum gas, jet fuels, and commercial natural gas also decreased more rapidly than they did in November. The indexes for commercial electric power, industrial electric power, and industrial natural gas fell in December, after increasing a month earlier. Residual fuel prices fell, after showing no change in November. On the other hand, the index for gasoline declined 8.2 percent in December, after dropping 10.3 percent in November. Prices for natural gas to electric utilities also decreased at a slower pace. From December 2000 to December 2001, the intermediate energy goods index fell 17.2 percent, following a 19.0-percent gain in 2000. Prices for materials and components for construction declined 0.2 percent in December, after posting no change in the preceding month. The gypsum products index fell 3.3 percent, following a 9.1-percent increase in November. Prices for softwood lumber and plywood decreased faster in December than they did in the prior month. The index for asphalt felts and coatings increased at a slower rate than it did in November, while prices for plumbing fixtures and brass fittings fell, after rising a month earlier. By contrast, the index for plastic construction products turned up 0.2 percent in December, compared with a 0.7-percent decrease in the previous month. The indexes for fabricated ferrous wire products and for nonferrous wire and cable also increased, after decreasing in the preceding month. Millwork prices declined less rapidly in December than they did in November. Prices for fabricated structural metal products rose in December, after registering no change a month earlier. The index for materials and components for construction showed no change for the 12 months ended in December 2001, following a 0.1-percent increase in the prior year. The index for materials for durable manufacturing fell 0.2 percent, after registering a 0.6-percent drop in November. In December, price declines for steel mill products, plywood, flat glass, and hardwood lumber outweighed price gains for primary aluminum, building paper and board, and prepared paint. The index for durable manufacturing materials declined 3.9 percent for the 12 months ended December 2001, following a 0.2-percent increase during 2000. Subsequent to a 1.5-percent drop in November, the index for intermediate foods and feeds fell 1.0 percent in December. Prices for natural, processed, and imitation cheese decreased 0.6 percent, after declining 8.2 percent in the prior month. The index for beef and veal advanced 1.7 percent, following a 6.3-percent decline in November. Prices for refined sugar and for dry milk products also increased in December, after falling a month earlier. The butter index decreased at a slower pace in December than it did in the preceding month. Conversely, fluid milk prices fell 7.0 percent, after edging down 0.1 percent a month earlier. The indexes for pork and flour turned down in December. Confectionery materials prices advanced less than they did in the previous month, while the index for crude vegetable oils showed no change, after increasing in November. Prices for intermediate foods and feeds rose 0.5 percent during calendar-year 2001, after posting a 3.6-percent advance in the previous calendar year. The index for materials for nondurable manufacturing declined 0.9 percent in December, following a 1.0-percent drop in November. In December, price declines for primary basic organic chemicals, plastic resins and materials, fertilizer materials, and basic inorganic chemicals outweighed price increases for paperboard, inedible fats and oils, gray fabrics, and woodpulp. During 2001, prices for materials for nondurable manufacturing fell 5.4 percent, after increasing 4.1 percent in 2000. Crude goods The Producer Price Index for Crude Materials for Further Processing turned down 9.5 percent, following a 7.3-percent increase in November. Prices for crude energy materials also fell in December, after rising in the previous month. On the other hand, the crude foodstuffs and feedstuffs index decreased less than it did in November. Prices for basic industrial materials edged up, after declining in the prior month. (See table B.) The index for crude energy materials declined 20.5 percent in December, following a 28.3-percent gain in November. Prices for natural gas dropped 24.7 percent, after jumping 80.0 percent in the prior month. The crude petroleum index fell 21.6 percent, following a 7.4-percent decrease in November. Coal prices turned down 5.5 percent, after increasing 4.7 percent in the previous month. The crude energy materials index declined 53.0 percent during 2001, following an 85.6-percent advance in 2000. Prices for crude foodstuffs and feedstuffs decreased 1.9 percent in December, after falling 5.9 percent in November. The fluid milk index declined 2.9 percent, after dropping 11.8 percent in the prior month. December prices for slaughter hogs also fell less than they did a month earlier. Prices for slaughter cattle, corn, and for fresh and dry vegetables turned up, after decreasing in November. The index for fresh fruits and melons rose more than it did in the previous month. By contrast, the wheat index moved down 0.3 percent, after posting a 3.9percent gain in November. Slaughter turkey prices also turned down in December. The indexes for unprocessed finfish, alfalfa hay, and soybeans decreased at a faster rate then they did in November. Prices for unprocessed shellfish advanced less than they did in the prior month. During 2001, the crude foodstuffs and feedstuffs index declined 7.4 percent, after rising at the same rate in 2000. The index for crude nonfood materials less energy edged up 0.1 percent in December, after posting a 0.8-percent decline in November. In December, rising prices for raw cotton; aluminum base scrap; pulpwood; construction sand, gravel, and crushed stone; and softwood logs, bolts, and timber outweighed falling prices for iron and steel scrap, hides and skins, phosphates, gold ores, and leaf tobacco. The basic industrial materials index decreased 9.9 percent during the 2001 calendar year, compared with a 5.5-percent decline in 2000. Net output price indexes for mining, manufacturing, and services industries Mining. The Producer Price Index for the Net Output of Total Domestic Mining Industries dropped 16.3 percent in December, after posting an 18.3percent jump in November. (Net output price indexes are not seasonally adjusted.) A 22.9-percent December decrease in prices received by the crude petroleum, natural gas, and natural gas liquids industry, which followed a 29.0-percent increase in November, accounted for most of the downturn in mining-industry prices. The industry indexes for bituminous coal and lignite, oil and gas field exploration services, and crushed and broken limestone also turned down in December. Prices received by the construction sand and gravel industry rose less than they did in the prior month. On the other hand, the industry index for oil and gas well drilling exhibited a slower rate of decline, falling 0.6 percent in December, after dropping 5.4 percent in November. Prices received by the gold ores; potash, soda, and borate minerals; and coal mining services industries also decreased less than they did in November. In December, the Producer Price Index for the Net Output of Total Mining Industries stood at 78.0 (December 1984=100). From December 2000 to December 2001, this index declined 46.8 percent, following a 69.0-percent advance in 2000. Manufacturing. After registering a 0.6-percent decline in November, the Producer Price Index for the Net Output of Total Domestic Manufacturing Industries dropped 1.1 percent in December. A larger decrease in the index for the petroleum refining and related products industry group -- 13.6 percent in December and 7.0 percent in November -- accounted for most of the faster rate of decline in total manufacturing industry prices. Prices received by the industry groups for transportation equipment and for apparel turned down, after showing no change in the previous month. The industry group index for chemicals and allied products fell more than it did in November. Prices received by the tobacco manufactures industry group showed no change in December, after posting a 1.8-percent rise in November. The industry group indexes for printing, publishing, and allied industries and for non-metallic mineral products moved down, following November gains. Prices received by the measuring and controlling instruments industry group increased less than they did in the prior month. By contrast, the industry group index for food and kindred products decreased 0.5 percent, after a 1.1-percent drop in November. Prices received by the paper and allied products industry group turned up in December. In December, the Producer Price Index for the Net Output of Total Manufacturing Industries stood at 131.4 (December 1984=100). This index declined 2.2 percent for the 12 months ended December 2001, following a 2.9-percent advance in the previous calendar year. Services. Among service industries in December, advancing prices were registered by the industries for general medical and surgical hospitals, property and casualty insurance, legal services, travel agencies, passenger car rental, cable and other pay television services, and engineering services. Conversely, falling prices were experienced by the industries for scheduled air transportation, telephone communications (except radiotelephone), operators and lessors of nonresidential buildings, life insurance carriers, trucking (except local), hotels and motels, and deep sea foreign transportation of freight. ***** Producer Price Index data for January 2002 will be released on Friday, February 15, 2002 at 8:30 a.m. (E.S.T.) Recalculated Seasonal Adjustment Factors and Relative Importances to be Available on February 13, 2002 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 13, 2002 (2 workdays prior to the release of PPI data for January 2002 on February 15): Seasonal factors for commodity indexes for the year 2002, Recalculated seasonal factors for the last 5 years (1997-2001) for the commodity indexes, Recalculated seasonal factors for the last 5 years (1997-2001) for the stage-of-processing indexes. In addition to recalculated seasonal factors, relative importances, as of December 2001, will also be available on February 13, 2002, 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. PPI Weights to be Updated The Bureau of Labor Statistics will soon update the value weights used to calculate Producer Price Indexes to more accurately reflect recent production and marketing patterns. The new weights, which will be introduced in February 2002 with the release of January 2002 index data, will be based on shipment values from the year 1997. These value weights come from the Census of Manufactures, the Census of Mining, the Census of Services, and the Census of Agriculture. PPI weights have been based upon 1992 census shipment values since January 1996. All indexes will be affected by this weight update, including all the industry net output indexes, as well as those calculated from traditional commodity groupings. In addition, weights will be updated from the 1992 to the 1997 census for all stage-of-processing indexes, net output of industry by stage of process indexes, durability of product indexes, and special commodity-grouping indexes. This weight revision will not change the arithmetic reference base, in most cases 1982=100, of the PPI index system. Also with the publication of January data on February 15, 2002, SICclassified indexes will reflect updated input/output (I/O) ratios based on the 1992 Input-Output Account of the U.S. Department of Commerce's Bureau of Economic Analysis (BEA). These I/O ratios, which represent the proportion of each industry's output consumed outside the industry, will be updated from those reflected in BEA's 1987 Input-Output Account. The commodity grouping indexes will not be affected. It is important to note that the PPI classification system and aggregation structure will not change as a result of the weight revisions discussed above. The weight update, however, will result in significant shifts in the relative importance of various industries and products, and these shifts will impact future aggregate indexes in a manner commensurate with the relative gains and losses in value weights from 1992 to 1997. Relative importances as of December 2001 on the 1992 and 1997 weighting schemes will be available on February 13, 2002. To request this information call the Division of Industrial Prices and Price Indexes, Section of Index Analysis at (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. 2001 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | |Aug. |Nov. |Dec. | Dec. | Nov. |Sept.to|Oct. to |Nov. to | 2000 1/|2001 2/|2001 2/|2001 2/| 2000 | 2001 | Oct. | Nov. | Dec. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 140.9 138.4 137.2 -1.8 -0.9 -1.6 -0.6 -0.7 Finished consumer goods........................| 76.120 141.8 138.4 136.8 -2.4 -1.2 -1.9 -.8 -.9 Finished consumer foods......................| 22.507 142.6 140.5 140.4 1.8 -.1 -.4 -.8 -.1 Crude......................................| 1.549 120.2 123.7 130.2 4.0 5.3 -3.0 2.0 4.2 Processed..................................| 20.958 144.4 141.8 141.3 1.7 -.4 -.3 -.9 -.4 Finished consumer goods, excluding foods.....| 53.624 141.3 137.3 135.1 -4.1 -1.6 -2.5 -.8 -1.2 Nondurable goods less foods................| 38.191 142.9 136.8 134.0 -5.4 -2.0 -3.0 -1.2 -1.5 Durable goods..............................| 15.434 133.3 134.5 133.9 -1.0 -.4 -1.3 .2 -.4 Capital equipment..............................| 23.868 139.6 139.9 139.7 -.1 -.1 -.7 .1 -.1 Manufacturing industries.....................| 6.278 140.5 140.3 140.3 .3 0 -.4 .1 -.1 Nonmanufacturing industries..................| 17.590 139.2 139.7 139.4 -.3 -.2 -.9 .1 -.1 | Intermediate materials, supplies, and components.| 100.000 129.7 126.7 125.4 -4.0 -1.0 -1.5 -.5 -.9 Materials and components for manufacturing.....| 45.385 126.9 125.2 124.7 -2.7 -.4 -.5 -.6 -.4 Materials for food manufacturing.............| 3.224 128.1 123.9 122.5 2.2 -1.1 -.7 -1.7 -1.1 Materials for nondurable manufacturing.......| 15.685 129.9 127.4 126.2 -5.4 -.9 -.9 -1.0 -.9 Materials for durable manufacturing..........| 9.861 124.7 122.8 122.5 -3.9 -.2 -.6 -.6 -.2 Components for manufacturing.................| 16.616 126.2 125.9 126.0 -.3 .1 .1 0 .1 Materials and components for construction......| 13.216 151.1 150.3 149.9 0 -.3 -.3 0 -.2 Processed fuels and lubricants.................| 15.634 105.2 94.7 89.3 -17.2 -5.7 -7.7 -1.6 -4.5 Manufacturing industries ....................| 5.555 106.8 99.1 95.5 -10.8 -3.6 -4.1 -.9 -3.2 Nonmanufacturing industries..................| 10.080 103.9 91.9 85.5 -20.8 -7.0 -9.7 -1.9 -5.4 Containers.....................................| 3.966 153.0 152.2 152.2 -.4 0 -.4 -.2 .1 Supplies.......................................| 21.799 138.7 138.3 138.1 -.3 -.1 -.2 0 -.1 Manufacturing industries.....................| 5.024 145.3 144.9 144.8 -.3 -.1 -.1 0 -.1 Nonmanufacturing industries..................| 16.775 135.9 135.4 135.3 -.1 -.1 -.2 0 -.1 Feeds......................................| 1.229 99.7 96.5 95.6 -4.0 -.9 -1.3 -1.0 -.9 Other supplies.............................| 15.546 140.3 140.2 140.1 .1 -.1 -.2 .1 -.1 | Crude materials for further processing...........| 100.000 113.0 104.8 94.8 -32.4 -9.5 -9.1 7.3 -9.5 Foodstuffs and feedstuffs......................| 30.898 109.1 98.3 96.4 -7.4 -1.9 -2.6 -5.9 -1.9 Nonfood materials..............................| 69.102 111.6 105.5 90.2 -43.7 -14.5 -13.8 18.0 -14.4 Nonfood materials except fuel 3/.............| 28.621 102.9 89.7 81.8 -26.2 -8.8 -10.0 -3.4 -8.7 Manufacturing 3/...........................| 27.686 94.5 82.0 74.5 -27.0 -9.1 -10.3 -3.6 -8.9 Construction...............................| 0.935 182.6 179.4 179.5 -1.8 .1 -1.4 -.3 .1 Crude fuel 4/................................| 40.481 114.6 118.7 94.5 -56.0 -20.4 -19.4 53.8 -20.4 Manufacturing industries...................| 3.470 113.1 115.3 92.4 -57.4 -19.9 -20.8 55.0 -19.9 Nonmanufacturing industries................| 37.011 116.8 121.1 96.4 -55.9 -20.4 -19.3 53.7 -20.4 | Special groupings | | Finished goods, excluding foods..................|5/ 77.493 140.3 137.7 136.1 -2.9 -1.2 -1.9 -.6 -.8 Intermediate materials less foods and feeds......|6/ 95.547 130.2 127.3 126.0 -4.2 -1.0 -1.5 -.5 -.9 Intermediate foods and feeds.....................|6/ 4.453 119.4 115.5 114.3 .5 -1.0 -.8 -1.5 -1.0 Crude materials less agricultural products 3/ 7/.|8/ 67.222 112.8 106.5 90.5 -44.3 -15.0 -14.0 18.4 -14.9 | Finished energy goods............................|5/ 15.512 96.6 85.5 80.7 -17.2 -5.6 -7.7 -3.8 -4.0 Finished goods less energy.......................|5/ 84.488 147.8 147.7 147.6 1.0 -.1 -.5 -.1 -.1 Finished consumer goods less energy..............|5/ 60.620 151.3 151.0 150.9 1.5 -.1 -.5 -.1 -.1 | Finished goods less foods and energy.............|5/ 61.981 149.9 150.6 150.4 .7 -.1 -.5 .2 -.1 Finished consumer goods less foods and energy....|5/ 38.113 156.8 157.8 157.6 1.3 -.1 -.4 .3 -.1 Consumer nondurable goods less foods and energy..|5/ 22.679 175.6 176.4 176.4 2.8 0 .1 .3 0 | Intermediate energy goods........................|6/ 15.755 104.8 94.3 89.0 -17.2 -5.6 -7.6 -1.6 -4.5 Intermediate materials less energy...............|6/ 84.245 134.9 133.7 133.4 -1.5 -.2 -.4 -.3 -.3 Intermediate materials less foods and energy.....|6/ 79.792 135.9 134.9 134.6 -1.6 -.2 -.4 -.2 -.2 | Crude energy materials 3/........................|8/ 54.136 103.1 96.5 76.7 -53.0 -20.5 -19.2 28.3 -20.5 Crude materials less energy......................|8/ 45.864 113.8 104.8 103.4 -8.2 -1.3 -2.3 -4.3 -1.3 Crude nonfood materials less energy 4/...........|8/ 14.966 128.7 124.5 124.2 -9.9 -.2 -1.7 -.8 .1 _______________________________________________________________________________________________________________________________ 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 2001 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. 2001 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Aug. |Nov. |Dec. | Dec. | Nov. |Sept.to|Oct. to|Nov. to | |2001 1/|2001 1/|2001 1/| 2000 | 2001 | Oct. | Nov. | Dec. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 140.9 138.4 137.2 -1.8 -0.9 -1.6 -0.6 -0.7 | FINISHED CONSUMER GOODS...............................| 141.8 138.4 136.8 -2.4 -1.2 -1.9 -.8 -.9 | FINISHED CONSUMER FOODS..............................| 142.6 140.5 140.4 1.8 -.1 -.4 -.8 -.1 | | 01-11 | Fresh fruits and melons 2/..........................| 87.4 101.7 115.3 22.3 13.4 5.7 1.4 13.4 01-13 | Fresh and dry vegetables 2/.........................| 122.2 107.2 120.5 9.7 12.4 -11.4 -3.2 12.4 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 75.9 86.6 79.2 -27.5 -8.5 4.4 -1.0 -10.9 02-11 | Bakery products 2/..................................| 188.8 189.2 188.7 2.3 -.3 .3 -.1 -.3 02-13 | Milled rice 2/......................................| 83.8 84.9 84.6 -10.3 -.4 -.7 -2.1 -.4 02-14-02 | Pasta products (June 1985=100) 2/...................| 122.2 122.2 122.2 .6 0 0 0 0 02-21-01 | Beef and veal.......................................| 119.4 111.0 113.3 -4.4 2.1 -.6 -6.3 1.7 02-21-04 | Pork................................................| 132.1 113.7 114.3 4.6 .5 -1.1 .1 -2.8 02-22-03 | Processed young chickens............................| 121.1 120.1 115.0 1.6 -4.2 2.0 -1.9 -1.5 02-22-06 | Processed turkeys...................................| 97.2 110.2 104.6 3.0 -5.1 .4 5.3 -.9 02-23 | Finfish and shellfish...............................| 185.5 183.2 176.8 -8.0 -3.5 -4.7 .1 -3.7 02-3 | Dairy products......................................| 152.1 145.4 140.3 3.0 -3.5 -1.9 -2.9 -2.6 02-4 | Processed fruits and vegetables 2/..................| 129.9 130.8 131.4 3.0 .5 .3 .5 .5 02-55 | Confectionery end products 2/.......................| 171.0 172.6 173.5 1.9 .5 .8 .1 .5 02-62 | Soft drinks.........................................| 147.9 148.6 148.1 2.6 -.3 -.3 .2 -.1 02-63-01 | Roasted coffee 2/...................................| 123.8 123.3 123.4 -2.3 .1 -.2 -.1 .1 02-78 | Shortening and cooking oils 2/......................| 142.2 132.2 133.2 1.4 .8 -1.7 -1.6 .8 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 141.3 137.3 135.1 -4.1 -1.6 -2.5 -.8 -1.2 | | 02-61 | Alcoholic beverages.................................| 145.5 146.2 146.5 2.4 .2 .1 .1 .1 03-81-01 | Women's apparel 2/..................................| 123.8 122.6 122.4 -1.8 -.2 -.4 .1 -.2 03-81-02 | Men's and boys' apparel.............................| 132.4 132.0 131.3 -1.4 -.5 0 .2 -.5 03-81-03 | Girls', children's, and infants' apparel 2/.........| 116.7 117.0 117.0 .5 0 0 0 0 03-82 | Textile housefurnishings 2/.........................| 122.5 123.3 122.7 1.2 -.5 .1 .7 -.5 04-3 | Footwear 2/.........................................| 145.6 145.7 145.7 .6 0 .1 0 0 05-41 | Residential electric power (Dec. 1990=100)..........| 121.4 115.0 114.3 3.5 -.6 .5 -.3 -.3 05-51 | Residential gas (Dec. 1990=100).....................| 146.4 130.8 128.9 -23.2 -1.5 -6.0 -2.6 -2.0 05-71 | Gasoline............................................| 91.3 68.6 58.0 -34.5 -15.5 -21.2 -10.3 -8.2 05-73-02-01| Fuel oil No. 2......................................| 85.1 69.8 58.7 -41.7 -15.9 -20.9 -7.4 -14.2 06-38 06-71 06-75 07-12 09-15-01 09-31-01 09-32-01 09-33 12-1 12-3 12-4 12-5 12-62 12-64 12-66 14-11-01 15-11 15-12 15-2 15-5 15-94-02 15-94-04 11-1 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 | Pharmaceutical preparations (June 2001=100) 2/......| | Soaps and synthetic detergents 2/...................| | Cosmetics and other toilet preparations 2/..........| | Tires, tubes, tread, etc 2/.........................| | Sanitary papers and health products 2/..............| | Newspaper circulation 2/............................| | Periodical circulation..............................| | Book publishing.....................................| | Household furniture 2/..............................| | Floor coverings 2/..................................| | Household appliances ...............................| | Home electronic equipment 2/........................| | Household glassware.................................| | Household flatware 2/...............................| | Lawn and garden equip., ex. tractors 2/.............| | Passenger cars......................................| | Toys, games, and children's vehicles 2/.............| | Sporting and athletic goods 2/......................| | Tobacco products 2/.................................| | Mobile homes 2/.....................................| | Jewelry, platinum, & karat gold 2/..................| | Costume jewelry and novelties 2/....................| | | | CAPITAL EQUIPMENT.....................................| | | | Agricultural machinery and equipment 2/.............| | Construction machinery and equipment................| | Metal cutting machine tools 2/......................| | Metal forming machine tools 2/......................| | Tools, dies, jigs, fixtures, and ind. molds 2/......| | Pumps, compressors, and equipment...................| | Industrial material handling equipment 2/...........| | Electronic computers (Dec. 1998=100) 2/.............| | Textile machinery 2/................................| | Paper industries machinery (June 1982=100)..........| | Printing trades machinery 2/........................| | Transformers and power regulators 2/................| | Communication & related equip. (Dec. 1985=100) 2/...| | X-ray and electromedical equipment 2/...............| | Oil field and gas field machinery ..................| | Mining machinery and equipment 2/...................| | Office and store machines and equipment 2/..........| | Commercial furniture 2/.............................| | Light motor trucks..................................| | Heavy motor trucks 2/...............................| 99.4 130.6 138.3 93.7 146.4 219.4 201.3 226.6 154.9 129.6 104.6 69.8 169.6 143.2 133.0 130.0 123.8 126.4 447.4 164.9 129.0 143.8 99.5 131.0 138.5 95.4 148.3 221.9 202.2 227.3 155.5 129.1 105.1 69.8 169.8 143.2 133.0 132.9 123.8 123.9 455.5 166.2 129.7 144.0 99.8 131.0 138.2 95.5 150.4 222.2 201.0 228.8 155.7 128.7 105.1 69.7 169.9 143.2 132.0 131.6 124.1 123.9 455.5 166.4 129.6 144.0 (3) .8 -.1 2.4 1.6 2.8 1.1 2.5 1.2 -2.6 -1.2 -2.1 1.3 -3.8 -.2 -2.4 1.1 -1.7 12.7 2.7 1.7 1.2 .3 0 -.2 .1 1.4 .1 -.6 .7 .1 -.3 0 -.1 .1 0 -.8 -1.0 .2 0 0 .1 -.1 0 0 0 .4 .1 .1 1.2 .2 -.4 .1 .1 .3 -.3 .1 0 -.4 -4.7 .2 .1 0 .8 .2 .2 -.1 0 -.1 1.1 -.1 -.2 -.2 -1.0 .1 .7 .3 0 .2 0 .2 .9 .1 -1.7 1.8 -.1 0 -.1 .3 0 -.2 .1 1.4 .1 -.6 1.1 .1 -.3 -.1 -.1 .1 0 -.8 -.7 .2 0 0 .1 -.1 0 139.6 139.9 139.7 -.1 -.1 -.7 .1 -.1 156.4 149.1 154.5 165.3 141.5 158.5 137.1 52.3 158.1 167.7 143.4 134.1 109.2 100.6 134.9 148.9 113.2 160.5 153.5 148.1 156.5 149.3 154.7 165.3 141.1 158.7 137.3 49.1 158.1 167.3 143.3 133.4 108.8 100.1 135.8 149.1 112.5 160.7 157.1 149.0 156.4 148.7 153.9 165.6 141.1 158.8 137.4 47.6 159.8 167.3 143.3 133.1 109.0 100.8 135.8 149.9 113.1 160.4 154.8 149.6 1.2 -.1 -5.1 2.2 -.2 2.4 1.3 -30.9 1.8 1.5 0 -1.3 -.7 .7 4.8 2.2 .6 .9 -4.1 .9 -.1 -.4 -.5 .2 0 .1 .1 -3.1 1.1 0 0 -.2 .2 .7 0 .5 .5 -.2 -1.5 .4 .3 -.1 0 -.1 -.2 -.1 -.1 .2 0 -.7 .1 0 -.6 -.6 .6 .1 0 .3 -1.3 0 .6 .1 .2 -.1 -.3 -.5 .2 0 .1 .1 -3.1 1.1 0 0 -.2 .2 .7 0 .5 .5 -.2 -1.5 .4 0 .1 .3 -.2 -2.2 0 -.2 0 -.4 .4 0 -.9 0 -.2 -.1 -.1 -.1 14-14 14-21-02 14-31 14-4 | Truck trailers 2/...................................| 139.1 138.9 137.9 -1.1 -.7 .2 0 -.7 | Civilian aircraft (Dec. 1985=100)...................| 170.6 170.2 170.5 3.8 .2 -.1 -.2 .2 | Ships (Dec. 1985=100) 2/............................| 148.9 148.5 148.8 .1 .2 0 -.3 .2 | Railroad equipment 2/...............................| 135.1 134.7 134.5 -1.0 -.1 .1 -.8 -.1 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 129.7 126.7 125.4 -4.0 -1.0 -1.5 -.5 -.9 | | | INTERMEDIATE FOODS AND FEEDS..........................| 119.4 115.5 114.3 .5 -1.0 -.8 -1.5 -1.0 | | 02-12-03 | Flour 2/............................................| 109.4 111.3 109.7 2.5 -1.4 1.3 .3 -1.4 02-53 | Refined sugar 2/....................................| 110.7 110.4 113.6 6.8 2.9 -.2 -.8 2.9 02-54 | Confectionery materials.............................| 105.8 111.1 111.8 17.6 .6 1.3 4.0 .4 02-72 | Crude vegetable oils 2/.............................| 82.5 73.8 73.8 15.9 0 -9.7 4.2 0 02-9 | Prepared animal feeds 2/............................| 107.2 104.5 103.6 -3.4 -.9 -1.0 -.8 -.9 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 130.2 127.3 126.0 -4.2 -1.0 -1.5 -.5 -.9 | | 03-1 | Synthetic fibers 2/.................................| 106.9 107.2 106.7 -2.5 -.5 -.1 -.5 -.5 03-2 | Processed yarns and threads 2/......................| 104.4 102.5 102.5 -4.7 0 -.8 -.9 0 03-3 | Gray fabrics 2/.....................................| 113.8 112.3 112.6 -1.7 .3 -.9 -1.2 .3 03-4 | Finished fabrics....................................| 122.7 122.6 121.4 -.3 -1.0 .1 .4 -.8 03-83-03 | Industrial textile products 2/......................| 132.8 133.5 133.8 2.0 .2 -.1 0 .2 04-2 | Leather 2/..........................................| 206.7 192.0 191.0 .2 -.5 -1.1 -2.7 -.5 05-32 | Liquefied petroleum gas 2/..........................| 100.7 92.1 74.3 -51.3 -19.3 -10.2 -9.5 -19.3 ____________________________________________________________________________________________________________________________________ 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. 2001 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Aug. |Nov. |Dec. | Dec. | Nov. |Sept.to|Oct. to|Nov. to | |2001 1/|2001 1/|2001 1/| 2000 | 2001 | Oct. | Nov. | Dec. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 147.7 136.3 135.2 2.8 -0.8 -1.8 1.8 -1.2 05-43 | Industrial electric power...........................| 148.9 141.1 140.1 5.6 -.7 .7 .5 -.8 05-52 | Commercial natural gas (Dec. 1990=100)..............| 147.7 135.3 131.3 -26.9 -3.0 -6.1 -1.6 -5.2 05-53 05-54 05-72-03 05-73-03 05-74 06-1 06-21 06-22 06-31 06-4 06-51 06-52-01 06-52-02 06-53 06-6 07-11-02 07-21 07-22 07-26 08-11 08-12 08-2 08-3 09-11 09-13 09-14 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 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Industrial natural gas (Dec. 1990=100)..............| Natural gas to electric utilities (Dec. 1990=100)...| Jet fuels...........................................| No. 2 Diesel fuel...................................| Residual fuel 2/....................................| Industrial chemicals 2/.............................| Prepared paint......................................| Paint materials 2/..................................| Medicinal and botanical chemicals 2/................| Fats and oils, inedible 2/..........................| Mixed fertilizers...................................| Nitrogenates........................................| Phosphates 2/.......................................| Other agricultural chemicals 2/.....................| Plastic resins and materials 2/.....................| Synthetic rubber 2/.................................| Plastic construction products ......................| Unsupported plastic film, sheet, & other shapes 2/..| Plastic parts and components for manufacturing 2/...| Softwood lumber 2/..................................| Hardwood lumber ....................................| Millwork 2/.........................................| Plywood 2/..........................................| Woodpulp 2/.........................................| Paper 2/............................................| Paperboard 2/.......................................| 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 2/.....| Metal valves, ex.fluid power (Dec. 1982=100) 2/.....| 145.9 102.2 76.3 82.0 71.1 124.5 165.1 148.0 140.1 100.1 116.8 122.8 93.6 147.9 131.3 123.2 133.1 136.9 116.3 175.1 179.4 180.6 163.8 117.8 149.8 169.8 175.0 131.6 157.7 136.9 100.9 101.3 149.3 150.1 139.3 106.6 155.0 180.7 156.7 144.5 129.8 127.1 167.2 136.4 164.7 135.8 79.7 65.2 74.4 68.6 122.2 164.8 149.1 140.1 74.6 114.4 108.0 95.8 150.6 128.8 120.1 131.8 134.9 116.5 163.9 177.8 179.4 150.3 112.3 146.9 166.1 174.0 122.3 157.4 137.1 99.7 97.7 145.3 151.2 138.2 106.0 155.3 180.9 157.3 144.2 129.3 127.0 167.6 135.9 165.0 132.5 77.6 56.8 56.2 63.4 120.1 164.9 147.7 139.8 82.0 114.3 103.4 90.3 148.6 125.2 119.7 131.5 134.9 116.8 160.3 176.4 179.2 148.1 112.5 146.9 166.7 174.0 125.5 157.0 136.9 98.8 99.6 145.1 150.8 138.8 106.3 155.7 180.3 157.6 144.2 129.7 127.0 168.3 136.1 164.7 -38.9 -55.2 -44.2 -44.7 -28.6 -7.4 1.9 -.3 -4.0 21.1 1.1 -27.2 -6.2 1.2 -8.8 -3.0 -1.9 -4.3 -.6 -2.8 -5.5 1.6 -1.9 -25.1 -2.9 -7.1 -.9 -2.9 -.1 .1 -6.4 -13.0 -2.9 -8.6 -3.7 .2 2.5 .3 .8 -.5 -.4 .7 1.9 1.0 .9 -2.4 -2.6 -12.9 -24.5 -7.6 -1.7 .1 -.9 -.2 9.9 -.1 -4.3 -5.7 -1.3 -2.8 -.3 -.2 0 .3 -2.2 -.8 -.1 -1.5 .2 0 .4 0 2.6 -.3 -.1 -.9 1.9 -.1 -.3 .4 .3 .3 -.3 .2 0 .3 0 .4 .1 -.2 -9.9 -14.4 -21.8 -18.3 -7.0 -2.7 .1 .9 0 -15.9 .5 -5.6 .5 .2 1.3 -1.9 2.7 -.4 .3 -4.4 -.3 .1 -6.3 -2.8 -.3 -1.3 -.3 -3.0 0 0 -.9 -1.0 .3 -1.8 -.5 -.5 .1 .6 0 -.3 -.2 -.1 .1 -.2 .4 .1 -4.4 -5.0 -1.8 0 -1.0 0 -3.2 0 -7.2 .4 -4.1 2.0 1.7 -1.5 -.1 -.7 -.7 .1 -.4 -.3 -.4 -.1 -.4 -1.3 -.1 -.2 -2.5 .1 .1 -.3 -1.4 -.3 1.1 -.4 -.1 0 .3 .2 0 -.2 0 .2 -.1 -.3 -5.5 -1.8 -8.8 -19.5 -7.6 -1.7 .3 -.9 -.2 9.9 -.3 -4.6 -5.7 -1.3 -2.8 -.3 .2 0 .3 -2.2 -.7 -.1 -1.5 .2 0 .4 0 2.6 -.3 0 -.9 1.9 -.1 -.3 .4 .3 .3 -.3 .3 .1 .3 0 .2 .1 -.2 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 | Ball and roller bearings............................| 169.2 | Wiring devices 2/...................................| 153.3 | Motors, generators, motor generator sets............| 147.2 | Switchgear, switchboard, etc., equipment............| 157.2 | Electronic components and accessories 2/............| 92.9 | Internal combustion engines.........................| 143.8 | Machine shop products 2/............................| 140.4 | Flat glass 2/.......................................| 112.8 | Cement..............................................| 150.6 | Concrete products 2/................................| 152.2 | Asphalt felts and coatings..........................| 108.6 | Gypsum products 2/..................................| 145.7 | Glass containers 2/.................................| 133.0 | Motor vehicle parts 2/..............................| 113.1 | Aircraft engines & engine parts (Dec. 1985=100).....| 145.5 | Aircraft parts & aux.equip.,nec (June 1985=100).....| 148.4 | Photographic supplies 2/............................| 129.3 | Medical/surgical/personal aid devices 2/............| 148.3 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 113.0 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 109.1 | | 01-21 | Wheat 2/............................................| 81.9 01-22-02-05| Corn................................................| 83.0 01-31 | Slaughter cattle 2/.................................| 104.7 01-32 | Slaughter hogs......................................| 85.2 01-41-02 | Slaughter broilers/fryers...........................| 140.8 01-42 | Slaughter turkeys...................................| 110.7 01-6 | Fluid milk..........................................| 123.4 01-83-01-31| Soybeans 2/.........................................| 88.4 02-52-01-01| Cane sugar,raw 2/...................................| 111.0 | | | CRUDE NONFOOD MATERIALS..............................| 111.6 | | 01-51-01-01| Raw cotton..........................................| 59.1 01-92-01-01| Leaf tobacco 2/.....................................| 106.7 04-19 | Hides and skins (June 2001=100) 2/..................| 74.7 05-1 | Coal 2/.............................................| 96.4 05-31 | Natural gas 2/......................................| 120.9 05-61 | Crude petroleum 2/..................................| 72.6 08-5 | Logs, timber, etc...................................| 182.7 09-12 | Wastepaper 2/.......................................| 138.3 10-11 | Iron ore 2/.........................................| 96.3 10-12 | Iron and steel scrap 2/.............................| 125.0 169.3 153.2 146.4 157.2 92.7 144.1 140.5 112.1 150.8 152.9 110.5 172.0 132.8 112.5 145.7 147.3 129.3 149.3 169.5 151.9 146.3 156.9 93.2 143.9 140.5 111.4 150.6 152.9 110.3 166.3 133.0 112.4 145.7 147.2 129.3 149.7 -.4 -.9 -.1 1.9 -3.0 -.1 .8 .5 1.1 2.4 4.6 .4 4.4 -.8 2.8 .5 2.3 1.9 .1 -.8 -.1 -.2 .5 -.1 0 -.6 -.1 0 -.2 -3.3 .2 -.1 0 -.1 0 .3 -.1 -.1 .1 -.4 .5 .1 -.1 0 .4 0 .2 3.0 -.8 0 -.2 0 -.1 -.1 .2 -.6 -.6 -.6 .2 .1 .1 .2 .1 .1 .9 9.1 .1 -.2 -.2 0 .1 .3 0 -.8 0 0 .5 -.1 0 -.6 .1 0 .2 -3.3 .2 -.1 .2 .2 0 .3 104.8 94.8 -32.4 -9.5 -9.1 7.3 -9.5 98.3 96.4 -7.4 -1.9 -2.6 -5.9 -1.9 86.0 77.5 94.6 55.2 139.0 126.2 106.6 74.7 111.0 85.7 81.0 94.8 52.6 126.1 110.7 101.6 73.6 112.8 1.7 2.7 -15.1 -24.9 -4.8 -10.8 4.3 -12.5 4.8 -.3 4.5 .2 -4.7 -9.3 -12.3 -4.7 -1.5 1.6 .1 -7.8 -3.2 -2.1 4.8 .1 -5.8 -6.0 0 3.9 -3.7 -7.1 -12.3 -5.1 2.0 -11.8 -.8 .4 -.3 3.8 .2 -10.8 -5.3 -1.7 -2.9 -1.5 1.6 105.5 90.2 -43.7 -14.5 -13.8 18.0 -14.4 53.9 116.4 75.6 101.7 124.0 55.0 178.5 141.8 96.3 111.5 54.3 115.2 71.8 96.1 93.4 43.1 179.0 141.8 96.3 108.2 -46.7 -.5 (3) 9.1 -64.5 -45.3 -3.3 -28.9 1.5 -8.5 .7 -1.0 -5.0 -5.5 -24.7 -21.6 .3 0 0 -3.0 -15.2 1.6 -7.4 .5 -27.5 -19.6 -1.9 -.3 -.1 -4.8 15.9 3.9 5.3 4.7 80.0 -7.4 -.6 1.1 0 -6.0 4.4 -1.0 -5.0 -5.5 -24.7 -21.6 .2 0 0 -3.0 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 62.4 59.9 59.6 -13.5 -.5 -.6 -4.6 -.5 10-23-01 | Copper base scrap 2/................................| 110.5 105.1 105.0 -17.4 -.1 -1.0 -1.5 -.1 10-23-02 | Aluminum base scrap.................................| 148.6 141.0 144.6 -11.3 2.6 .5 -2.2 1.7 13-21 | Construction sand, gravel, and crushed stone........| 169.8 169.9 169.9 3.5 0 .2 .2 .3 ____________________________________________________________________________________________________________________________________ 1/ The indexes for August 2001 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. 2001 | Nov. 2001 | Dec. 2001 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 395.4 | 388.4 | 385.0 | | All commodities................................| 133.4 | 130.1 | 128.0 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 128.2 | 123.5 | 122.9 | 01 | Farm products................................| 105.5 | 97.0 | 96.6 | 02 | Processed foods and feeds....................| 139.5 | 136.6 | 135.9 | | | | | | | Industrial commodities.........................| 134.3 | 131.4 | 128.9 | 03 | Textile products and apparel.................| 121.1 | 120.7 | 120.4 | 04 | Hides, skins, leather, and related products..| 156.1 | 153.2 | 151.8 | 05 | Fuels and related products and power.........| 101.0 | 91.1 | 82.4 | 06 | Chemicals and allied products 2/.............| 149.9 | 148.5 | 147.2 | 07 | Rubber and plastic products..................| 127.1 | 126.7 | 126.6 | 08 | Lumber and wood products.....................| 176.8 | 171.4 | 170.3 | 09 | Pulp, paper, and allied products.............| 184.2 | 183.7 | 183.9 | 10 | Metals and metal products....................| 125.0 | 123.6 | 123.5 | 11 | Machinery and equipment......................| 123.4 | 123.2 | 123.3 | 12 | Furniture and household durables.............| 132.9 | 133.1 | 133.0 | 13 | Nonmetallic mineral products.................| 144.5 | 145.7 | 145.3 | 14 | Transportation equipment.....................| 144.8 | 145.7 | 145.1 | 15 | Miscellaneous products.......................| 183.0 | 183.3 | 183.4 | | | | | | | Industrial commodities less fuels and related | | | | 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 05-7 06-3 06-5 06-7 07-1 07-11 07-13 07-2 08-1 09-1 09-15 10-1 10-2 10-25 11-3 11-4 11-6 11-7 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 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......................................| Electric power.................................| Refined petroleum products.....................| Drugs and pharmaceuticals......................| Agricultural chemicals and products............| Other chemicals and allied products............| Rubber and rubber products.....................| Rubber, except natural rubber..................| Miscellaneous rubber products..................| Plastic products...............................| Lumber.........................................| Pulp, paper, and products, excluding building | paper and board..............................| Converted paper and paperboard products........| Iron and steel.................................| Nonferrous metals..............................| Nonferrous mill shapes.........................| Metalworking machinery and equipment...........| General purpose machinery and equipment........| Special industry machinery.....................| Electrical machinery and equipment.............| 142.8 107.6 83.1 100.1 132.6 59.4 87.0 115.2 98.6 159.1 162.5 128.0 118.8 136.0 145.9 124.6 117.7 126.9 148.1 114.1 145.4 85.4 261.0 125.7 139.7 116.7 122.6 140.2 135.1 174.5 156.3 164.0 109.9 121.7 141.0 150.7 153.1 165.4 116.9 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 142.3 109.3 80.2 84.3 134.5 54.2 103.3 105.2 86.4 173.6 163.1 121.4 120.5 137.9 146.4 124.1 107.4 126.3 148.1 114.1 136.7 69.1 261.4 123.9 139.5 116.9 119.5 140.0 134.5 166.3 154.9 164.1 107.8 118.5 138.4 150.4 153.0 164.6 116.5 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 142.0 122.1 82.6 84.0 121.4 54.8 89.7 102.9 85.2 171.8 162.9 120.7 116.3 139.3 146.3 124.2 108.9 126.0 148.0 87.2 135.7 58.6 261.9 120.4 139.4 116.8 119.1 139.9 134.4 163.3 155.2 164.6 106.8 119.3 138.1 150.4 153.2 164.8 116.7 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11-9 | Miscellaneous machinery and equipment..........| 136.2 | 136.1 | 136.2 | 12-6 | Other household durable goods..................| 157.4 | 157.6 | 157.3 | 13-2 | Concrete ingredients...........................| 159.8 | 160.0 | 159.9 | 14-1 | Motor vehicles and equipment...................| 130.5 | 132.1 | 131.2 | 15-1 | Toys, sporting goods, small arms, etc..........| 133.5 | 132.0 | 132.2 | 15-4 | Photographic equipment and supplies............| 111.8 | 111.6 | 111.6 | 15-9 | Other miscellaneous products...................| 139.1 | 139.1 | 139.2 | __________________________________________________________|___________|___________|___________| 1/ Data for August 2001 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. 2/ 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._2001_from: code | |base | | | | | | | |Aug. |Nov. |Dec. | Dec. | Nov. | | |2001 2/|2001 2/|2001 2/| 2000 | 2001 __________________|______________________________________________|_____|_______|_______|_______|________|_________ | | | |Total mining industries...................... |12/84| 98.9 93.2 78.0 -46.8 -16.3 10 | Metal mining................................ |12/84| 69.8 68.1 67.8 -8.9 -.4 12 | Coal mining................................. |12/85| 92.0 95.5 91.8 7.9 -3.9 13 | Oil and gas extraction...................... |12/85| 107.0 98.8 79.1 -53.8 -19.9 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 141.4 141.8 141.4 2.4 -.3 | | | |Total manufacturing industries............... |12/84| 134.6 132.8 131.4 -2.2 -1.1 20 | Food and kindred products................... |12/84| 134.6 132.4 131.8 1.7 -.5 21 | Tobacco manufactures........................ |12/84| 391.0 398.3 398.3 13.2 0 22 | Textile mill products....................... |12/84| 116.8 116.2 116.1 -1.0 -.1 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 125.9 125.9 125.4 -.2 -.4 24 | Lumber and wood products, except furniture.. |12/84| 158.1 153.8 153.3 -.6 -.3 25 | Furniture and fixtures...................... |12/84| 145.2 145.8 145.5 1.1 -.2 26 | Paper and allied products................... |12/84| 145.6 144.4 144.7 -1.8 .2 27 | Printing, publishing, and allied industries. |12/84| 188.8 189.6 189.5 2.2 -.1 28 | Chemicals and allied products............... |12/84| 156.3 155.4 154.0 -3.0 -.9 29 | Petroleum refining and related products..... |12/84| 104.7 87.2 75.3 -33.3 -13.6 30 | Rubber and miscellaneous plastic products... |12/84| 125.7 125.3 125.4 -.9 .1 31 | Leather and leather products................ |12/84| 142.3 140.2 140.0 .6 -.1 32 | Stone, clay, glass, and concrete products... |12/84| 136.0 137.1 136.8 2.1 -.2 33 | Primary metal industries.................... |12/84| 115.6 114.3 114.0 -3.9 -.3 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 131.1 131.0 131.1 .5 .1 35 | Machinery, except electrical................ |12/84| 117.9 117.8 117.8 .1 0 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 106.4 106.6 106.6 -.9 0 37 | Transportation equipment.................... |12/84| 137.4 138.5 137.9 -.5 -.4 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 127.4 127.6 127.8 1.3 .2 39 | Miscellaneous manufacturing industries...... |12/85| 132.7 132.1 132.3 .6 .2 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 104.2 106.8 106.6 3.1 -0.2 42 | Motor freight transportation and warehousing |06/93| 123.5 124.0 123.2 1.1 -.6 43 | United States Postal Service................ |06/89| 145.4 145.4 145.4 7.5 0 44 | Water transportation........................ |12/92| 133.2 131.2 129.7 3.8 -1.1 45 | Transportation by air....................... |12/92| 159.0 158.5 155.3 .6 -2.0 46 | Pipe lines, except natural gas.............. |12/86| 111.2 111.3 111.3 8.5 0 54 | Food stores................................. |12/99| 109.4 111.5 109.7 4.8 -1.6 59 | Miscellaneous retail........................ |06/00| 100.4 101.3 99.5 2.1 -1.8 80 | Health services............................. |12/94| 116.7 117.0 117.4 2.9 .3 81 | Legal services.............................. |12/96| 118.5 118.5 118.7 4.0 .2 __________________________________________________________________________________________________________________ 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 2001 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. Table 5. Producer price indexes by stage of processing, seasonally adjusted (1982=100) _____________________________________________________________________________________________________________ | | Index 1/ |_____________________________________________________ Grouping | | | | | | | July | Aug. | Sep. | Oct. | Nov. | Dec. | 2001 | 2001 | 2001 | 2001 | 2001 | 2001 _______________________________________________________|________|________|________|________|________|________ | Finished goods...................................| 140.2 140.7 141.4 139.1 138.3 137.4 Finished consumer goods........................| 140.6 141.3 142.2 139.5 138.4 137.2 Finished consumer foods......................| 141.1 142.1 142.4 141.8 140.7 140.5 Crude......................................| 113.9 121.5 124.9 121.1 123.5 128.7 Processed..................................| 143.3 143.7 143.8 143.4 142.1 141.5 Finished consumer goods, excluding foods.....| 140.3 140.8 141.9 138.3 137.2 135.6 Nondurable goods less foods................| Durable goods..............................| Capital equipment..............................| Manufacturing industries.....................| Nonmanufacturing industries..................| | Intermediate materials, supplies, and components.| Materials and components for manufacturing.....| Materials for food manufacturing.............| Materials for nondurable manufacturing.......| Materials for durable manufacturing..........| Components for manufacturing.................| Materials and components for construction......| Processed fuels and lubricants.................| Manufacturing industries ....................| Nonmanufacturing industries..................| Containers.....................................| Supplies.......................................| Manufacturing industries.....................| Nonmanufacturing industries..................| Feeds......................................| Other supplies.............................| | Crude materials for further processing...........| Foodstuffs and feedstuffs......................| Nonfood materials..............................| Nonfood materials except fuel 2/.............| Manufacturing 2/...........................| Construction...............................| Crude fuel 3/................................| Manufacturing industries...................| Nonmanufacturing industries................| | Special groupings | | Finished goods, excluding foods..................| Intermediate materials less foods and feeds......| Intermediate foods and feeds.....................| Crude materials less agricultural products 2/....| | Finished energy goods............................| Finished goods less energy.......................| Finished consumer goods less energy..............| | Finished goods less foods and energy.............| 141.0 134.4 140.1 140.6 139.9 141.8 134.5 140.2 140.6 139.9 143.1 135.0 140.3 140.6 140.1 138.8 133.2 139.3 140.1 138.9 137.1 133.5 139.5 140.3 139.1 135.0 133.0 139.3 140.2 138.9 129.5 127.4 125.9 131.4 125.3 126.4 151.0 103.2 105.4 101.6 153.5 138.7 145.6 135.8 96.7 140.5 129.1 126.8 127.4 129.9 124.7 126.2 151.0 102.6 104.5 101.2 152.9 138.7 145.3 135.9 99.7 140.3 129.4 126.6 127.1 130.0 124.3 125.9 150.8 104.4 105.2 103.7 153.0 138.6 145.0 135.8 98.8 140.4 127.4 126.0 126.2 128.8 123.5 126.0 150.4 96.4 100.9 93.6 152.4 138.3 144.9 135.5 97.5 140.1 126.8 125.3 124.1 127.5 122.8 126.0 150.4 94.9 100.0 91.8 152.1 138.3 144.9 135.5 96.5 140.2 125.7 124.8 122.7 126.3 122.6 126.1 150.1 90.6 96.8 86.8 152.2 138.2 144.7 135.3 95.6 140.1 113.1 108.0 112.5 103.9 95.4 183.4 115.4 113.1 117.6 112.3 107.6 111.5 102.8 94.4 182.5 114.6 113.1 116.8 108.1 108.7 103.8 103.6 95.1 182.6 95.8 93.9 97.6 98.3 105.9 89.5 93.2 85.3 180.1 77.2 74.4 78.8 105.5 99.7 105.6 90.0 82.2 179.5 118.7 115.3 121.1 95.5 97.8 90.4 82.2 74.9 179.7 94.5 92.4 96.4 139.8 130.3 116.9 113.7 140.2 129.7 118.9 112.8 140.9 130.0 118.4 104.7 138.2 128.0 117.4 90.0 137.4 127.4 115.6 106.6 136.3 126.3 114.4 90.7 93.4 147.8 151.0 94.6 148.1 151.4 96.7 148.4 151.7 89.3 147.6 151.0 85.9 147.5 150.9 82.5 147.3 150.7 150.4 150.5 150.7 149.9 150.2 150.0 Finished consumer goods less foods and energy....| 157.4 157.4 157.7 157.0 157.4 157.2 Consumer nondurable goods less foods and energy..| 175.6 175.6 175.7 175.9 176.4 176.4 | Intermediate energy goods........................| 102.8 102.2 104.0 96.1 94.6 90.3 Intermediate materials less energy...............| 135.2 134.9 134.7 134.2 133.8 133.4 Intermediate materials less foods and energy.....| 136.4 135.9 135.8 135.3 135.0 134.7 | Crude energy materials 2/........................| 103.6 103.1 93.1 75.2 96.5 76.7 Crude materials less energy......................| 113.6 112.6 113.4 110.8 106.0 104.6 Crude nonfood materials less energy 3/...........| 130.8 128.4 128.3 126.1 125.1 125.2 _____________________________________________________________________________________________________________ 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 2001 have been recalculated to incorporate late reports and corrections by respondents. Includes crude petroleum. Excludes crude petroleum. Technical Note 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 Wireless Telecommunications 4812 Telephone Communications, Except Radio Telephone 4813 Grocery Stores 5411 Meat and Fish (Seafood) Markets, 5421 Fruit and Vegetable Markets 5431 Candy, Nut, and Confectionery Stores 5441 Retail Bakeries 5461 Miscellaneous Food Stores 5499 New Car Dealers 5511 Miscellaneous Retail 59 Security Brokers, Dealers, and Investment Bankers 6211 Life Insurance Carriers 6311 Property and Casualty Insurance 6331 Operators and Lessors of Nonresidential Buildings 6512 Real Estate Agents and Managers 6531 Prepackaged Software 7372 Home Health Care Services 8082 Legal Services 8111 Engineering, Design, Analysis, PPI Detailed Report Issue July 1999 July 1995 July 2000 July 2000 July 2000 July 2000 July 2000 July 2000 July 2000 January 2001 January 2001 January 1999 July 1998 January January January January January 1996 1996 1998 1997 1997 and Consulting Services Architectural, Design, Analysis, and Consulting Services Premiums for Property and Casualty Insurance 8711 January 1997 8712 January 1997 9331 July 1998 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-of-processing 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, whereas 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 Seasonally Adjusted and Unadjusted Data 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 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 (1) "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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