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FOR DATA ONLY: (202) 606-7828 FOR TECHNICAL INFORMATION: (202) 606-7705 MEDIA CONTACT: (202) 606-5902 http://stats.bls.gov/ppihome.htm USDL 99-62 TRANSMISSION OF MATERIAL IN THIS RELEASE IS EMBARGOED UNTIL 8:30 A.M. (E.S.T), FRIDAY, MARCH 12, 1999 Producer Price Indexes -- February 1999 The Producer Price Index for Finished Goods declined 0.4 percent in February, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This decline followed increases of 0.5 percent in January and 0.4 percent in December. Prices received by producers of intermediate goods decreased 0.5 percent, following a 0.1percent increase in the prior month. The crude goods index dropped 3.4 percent, after registering a 2.6-percent advance a month earlier. (See table A.) Table A. Monthly and annual percent changes in selected stage-ofprocessing price indexes, seasonally adjusted Finish ed goods Except Month 1998 Feb. Mar. Apr. May June Total -0.1 0 0.2 -0.1 -0.2 Foods 0.3 -0.2 0.4 -0.5 -0.1 foods and Energy energy -1.4 -2.2 -0.4 0.4 -0.8 0.1 0.5 0.1 0.1 -0.1 Change in finished goods from 12 months ago (unadj.) -1.5 -1.5 -0.9 -0.8 -0.7 Intermediate Crude goods goods -0.2 -0.3 0 -0.1 -0.3 -1.9 -1.4 1.3 -0.6 -2.7 July Aug. Sept. Oct. Nov. Dec. 0.2 -0.3 0.2 r0.3 r-0.3 0.4 0.5 -0.3 0.2 0.4 r-0.5 0 -0.1 -1.9 -0.4 r0.8 r-1.2 -2.3 0.2 0 0.3 r0.1 r0 1.0 -0.2 -0.8 -0.9 -0.7 -0.7 -0.1 0 -0.3 -0.3 -0.2 -0.2 -0.5 0.1 -4.2 -1.8 r2.5 r-0.9 -4.0 1999 Jan. 0.5 1.6 1.8 -0.1 0.9 0.1 2.6 Feb. -0.4 -1.4 -1.0 0 0.5 -0.5 -3.4 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for October 1998 have been revised to reflect the availability of late reports and corrections by respondents. Among finished goods in February, prices for finished consumer foods and finished energy goods turned down, following increases in January. The index for finished goods other than foods and energy showed no change, after posting a 0.1-percent decline in the previous month, as an upturn in the index for capital equipment was offset by a decline in prices for finished consumer goods other than foods and energy. Before seasonal adjustment, the Producer Price Index for Finished Goods fell 0.5 percent in February to 130.9 (1982=100). Over the past 12 months, finished consumer foods prices rose 0.2 percent, the finished energy goods index dropped 7.0 percent, and prices for finished goods other than foods and energy advanced 2.2 percent. Prices received by domestic producers of intermediate goods decreased 2.7 percent for the 12 months ended in February, and the crude goods index fell 12.2 percent during the same period. Finished goods The finished consumer foods index declined 1.4 percent in February, following a 1.6-percent increase a month ago. Prices for dairy products fell 3.0 percent, after a 3.4-percent advance last month. The indexes for pork, eggs for fresh use, and beef and veal also turned down, after rising in the previous month. Fresh and dry vegetable prices declined faster than last month. The citrus fruit index fell 14.1 percent, following a 64.0percent jump last month. By contrast, soft drink prices turned up 0.6 percent, following a 0.8-percent decline a month ago. The processed turkey index fell less than in the prior month. Roasted coffee prices posted no change, after falling 1.3 percent last month. Table B. Monthly and annual percent changes in selected price indexes for intermediate goods and crude goods, seasonally adjusted Interm Crude ediate goods goods Change in intermedi Change in ate Exclud goods Excludi crude goods ing from ng from foods 12 months Energy foods 12 months and ago and ago Month Foods Energy energy (unadj.) Foods (unadj energy (unadj.) .) 1998 Feb. -0.3 -1.3 -0.1 -1.8 -0.7 -4.3 -0.2 -13.8 Mar. -1.3 -2.0 0 -1.8 -0.3 -2.9 -1.4 -7.6 Apr. -0.9 0.2 0 -1.6 0.3 4.5 -1.2 -7.0 May 0.3 0.2 -0.1 -1.5 -1.5 0 0.1 -9.0 June -0.6 -1.1 -0.1 -1.8 0.4 -8.0 -0.4 -8.9 July 0.4 0 -0.1 -1.6 -3.4 6.0 -1.5 -8.4 Aug. -0.4 -1.5 -0.1 -2.1 -1.1 -9.0 -2.8 -12.3 Sept. -0.9 -0.5 -0.3 -2.5 -0.9 -3.6 -1.2 -15.1 Oct. -0.4 r1.0 r-0.3 -2.5 r3.2 r5.5 r-3.0 r-16.6 Nov. 0.5 r-1.2 -0.2 -2.9 r-0.6 r-0.3 r-2.3 -19.0 Dec. -0.6 -3.2 -0.2 -3.1 -4.1 -5.2 -1.6 -17.6 1999 Jan. 1.1 1.8 -0.2 -2.4 5.1 0.6 0.2 -10.6 Feb. -2.0 -1.7 -0.2 -2.7 -2.8 -7.4 1.1 -12.2 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for October 1998 have been revised to reflect the availability of late reports and corrections by respondents. The index for finished energy goods fell 1.0 percent in February, following a 1.8-percent advance in January. Price declines for residential electric power, finished lubricants, residential natural gas, and home heating oil more than offset price increases for gasoline. Capital equipment prices advanced 0.1 percent in February, following a 0.1-percent decline a month ago. The light motor truck index increased 0.4 percent, after rising 0.1 percent in January. Prices for communication and related equipment and commercial furniture also rose more than in the previous month. The construction machinery and equipment index turned up from last month. Price declines for electronic computers were slower than last month. By contrast, the civilian aircraft index showed no change, following a 0.2-percent rise in January. The indexes for printing trades machinery and paper industries machinery turned down from the prior month. The index for finished consumer goods other than foods and energy decreased 0.1 percent in February, the same rate as in January. Falling prices for passenger cars, sanitary papers and health products, book publishing, and platinum and karat gold jewelry slightly outweighed rising prices for prescription drugs, light motor trucks, and household appliances. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components turned down 0.5 percent in February, seasonally adjusted, after registering a 0.1-percent rise in January. The indexes for intermediate energy goods and intermediate foods and feeds also fell, following increases a month ago. Nondurable manufacturing material prices fell more than in the prior month. By contrast, prices for materials and components for construction rose 0.2 percent, following a 0.1-percent increase last month. The durable manufacturing materials index fell less than in the previous month. (See table B.) Excluding foods and energy, the index for intermediate materials fell 0.2 percent in February, the same as in the previous month. February's decline in the intermediate core index represents the tenth consecutive monthly decrease. Prices for intermediate materials other than foods and energy are 1.7 percent lower than 12 months ago. The intermediate energy goods index fell 1.7 percent in February, after posting a 1.8-percent increase in January. Jet fuel prices declined 2.7 percent, after advancing 7.5 percent in the previous month. The indexes for commercial and industrial electric power turned down, after increasing a month earlier. Prices for residual fuel fell more than a month ago. The gasoline index rose less than in January. On the other hand, the index for natural gas to electric utilities rose, after falling last month. Liquefied petroleum gas prices declined more slowly in February than in the prior month. Intermediate foods and feeds prices turned down 2.0 percent in February, following a 1.1-percent advance in January. Pork prices fell 6.3 percent, after an 18.3-percent increase in the previous month. The indexes for beef and veal, prepared animal feeds, crude vegetable oils, and for natural, processed, and imitation cheese also turned down, following an advance in the prior month. Prices for fluid milk products rose less than a month ago. By contrast, the index for refined sugar turned up 1.4 percent, after falling 1.0 percent last month. Price increases accelerated for snack chips. Nondurable manufacturing materials prices moved down 0.8 percent in February, after posting a 0.1-percent decline in January. The index for medicinal and botanical chemicals fell 1.6 percent, following a 2.9-percent rise in the previous month. Prices for paperboard and woodpulp also turned down, after advancing in the prior month. The inedible fats and oils index fell, after showing no change a month ago. Conversely, prices for primary basic organic chemicals turned up 1.6 percent, following a 1.4-percent decrease in the previous month. The indexes for synthetic fibers and phosphates also rose, after falling in January. In February, the index for materials and components for construction increased 0.2 percent, following a 0.1-percent rise in January. This was the third consecutive increase for this index. Rising prices for softwood lumber, softwood plywood, gypsum products, millwork, and plastic construction products outweighed declining prices for nonferrous wire and cable, wiring devices, plumbing fixtures and brass fittings, and asphalt felts and coatings. The durable manufacturing materials index decreased 0.5 percent in February, after registering a 0.6-percent decrease in January. February's decline was the sixth consecutive decrease, leaving the durable manufacturing materials index 5.1 percent lower than last year. In February, price declines for steel mill products, primary nonferrous metals, and aluminum mill shapes outweighed price increases for softwood plywood, building paper and board, and prepared paint. Crude goods The Producer Price Index for Crude Materials for Further Processing declined 3.4 percent, seasonally adjusted, after registering a 2.6-percent advance in January. Prices for crude foodstuffs and feedstuffs and crude energy materials fell, following increases in the prior month. By contrast, the index for basic industrial materials rose more than a month ago. (See table B.) Crude foodstuffs and feedstuffs prices dropped 2.8 percent in February, after posting a 5.1-percent gain in January. The slaughter hogs index declined 1.2 percent, following a 188.6-percent advance in the previous month. Prices for fluid milk, soybeans, and fresh and dry vegetables fell more than a month earlier. The indexes for slaughter cattle and for fresh fruits and melons rose less than last month. Prices for wheat and unprocessed finfish decreased, after increasing a month ago. On the other hand, the slaughter broilers and fryers index advanced 2.4 percent, following a 5.6-percent decline in January. Slaughter turkey prices also rose, after falling in the prior month. The corn index fell less than a month earlier. Crude energy material prices fell 7.4 percent in February, following a 0.6-percent rise in January. The crude petroleum index dropped 13.8 percent, after registering a 16.5-percent gain last month. Coal prices also turned down, following an increase a month ago. Conversely, the index for natural gas declined 5.0 percent, after a 7.0-percent decline in the previous month. The basic industrial materials index increased 1.1 percent in February, after posting a 0.2-percent rise in January. Prices for gold ores advanced 3.1 percent, following a 3.3-percent decline a month ago. The wastepaper index rose more than in the prior month. Prices for aluminum base scrap, softwood logs, bolts, and timber, phosphates, and for construction sand, gravel, and crushed stone turned up, after falling a month earlier. By contrast, the iron and steel scrap index increased 2.9 percent, following a 6.2-percent gain in January. Prices for raw cotton and for hardwood logs, bolts, and timber fell more than last month. Net output price indexes for mining, manufacturing, and other industries Mining. The Producer Price Index for the Net Output of Total Mining Industries fell 4.5 percent in February, following a 0.5-percent decline in January. (Net output price indexes are not seasonally adjusted.) In February, prices for the oil and gas extraction industry group moved down 5.8 percent, after showing a 1.0-percent decrease in the prior month. The index for the coal mining industry group turned down 2.9 percent, after increasing 1.4 percent in January. By contrast, the index for the metal mining industry group turned up 1.6 percent, after falling 1.3 percent in the previous month. The non-metallic mining industry group index moved up 0.2 percent in February, the same rate as last month. In February, the Producer Price Index for the Net Output of Total Mining Industries stood at 62.1 (December 1984=100), 15.6 percent below its year-ago level. Manufacturing. The Producer Price Index for the Net Output of Total Manufacturing Industries decreased 0.2 percent in February, after increasing 0.4 percent in January. The index for the petroleum refining and related products industry group declined 4.6 percent, following a 5.4percent increase in January. The index for food and kindred products turned down, after rising as much the month before. Price increases for the printing and publishing industry group slowed to 0.2 percent in February from 0.6 percent in January. The indexes for the electrical and electronic machinery and equipment industry group and the fabricated metal products industry group fell, after rising in the prior month. By contrast, price increases accelerated from January to February for the lumber and wood products, the non-metallic mineral products, and the furniture and fixtures industry groups. In February, the Producer Price Index for the Net Output of Total Manufacturing Industries stood at 126.0 (December 1984=100), 0.1 percent below its year-ago level. Other. Among other industries, prices decreased more in February than in January for telephone communications (except radiotelephone) and freight transportation arrangement. The index for United States Postal Service was unchanged, after increasing in the previous month. Price increases slowed from January to February for offices and clinics of doctors of medicine, property and casualty insurance, cable and other pay television services, hotels and motels, trucking (except local), general medical and surgical hospitals, skilled and intermediate care facilities, scheduled air transportation, and advertising agencies. Prices turned down after rising a month earlier for real estate agents and managers, travel agencies, prepackaged software, deep sea foreign transportation of freight, passenger car rental (without drivers), and help supply services. Prices declined after showing no change a month earlier for truck rental and leasing (without drivers) and railroad line-haul operations. By contrast, the index for radio broadcasting increased 1.5 percent in February, after falling 2.3 percent in January. Prices for home health care services, crude petroleum pipelines, airports and airport services, and Mississippi River transportation turned up, after decreasing in the prior month. Price increases accelerated from January to February for life insurance carriers, architectural services, and engineering services. ***** Producer Price Index data for March 1999 will be released on Friday, April 9, 1999 at 8:30 a.m. (E.D.T.) ***** Information in this news release will be made available to sensory impaired individuals upon request. Voice phone: 202-606-7828; TDD phone: 202-6065897; TDD Message Referral phone: 1-800-326-2577. 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| |Feb. 1999 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | Oct. |Jan. |Feb. | Feb. | Jan. |Nov. to|Dec. to |Jan. to | 1998 1/|1998 2/|1999 2/|1999 2/| 1998 | 1999 | Dec. | Jan. | Feb. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 131.4 131.5 130.9 0.5 -0.5 0.4 0.5 -0.4 Finished consumer goods........................| 74.764 129.8 130.0 129.2 .8 -.6 .5 .8 -.6 Finished consumer foods......................| 23.289 135.5 135.6 133.9 .2 -1.3 0 1.6 -1.4 Crude......................................| 1.693 134.7 133.4 121.9 -5.8 -8.6 2.3 7.5 -9.0 Processed..................................| 21.596 135.5 135.7 134.9 .7 -.6 -.1 1.2 -.8 Finished consumer goods, excluding foods.....| 51.475 127.1 127.5 127.0 1.1 -.4 .8 .4 -.3 Nondurable goods less foods................| 35.162 122.5 123.4 122.7 1.6 -.6 1.2 .6 -.3 Durable goods..............................| 16.313 134.4 133.4 133.4 0 0 0 -.3 -.1 Capital equipment..............................| 25.236 138.1 137.7 137.9 0 .1 0 -.1 .1 Manufacturing industries.....................| 6.615 138.0 138.2 138.4 .4 .1 0 0 .1 Nonmanufacturing industries..................| 18.621 138.1 137.5 137.6 -.2 .1 0 -.2 .1 | Intermediate materials, supplies, and components.| 100.000 122.3 121.2 120.5 -2.7 -.6 -.5 .1 -.5 Materials and components for manufacturing.....| 47.742 125.0 124.2 123.6 -2.9 -.5 -.3 -.1 -.6 Materials for food manufacturing.............| 3.626 125.4 124.6 122.4 .7 -1.8 -.9 1.3 -2.0 Materials for nondurable manufacturing.......| 15.762 124.4 123.5 122.5 -5.1 -.8 -.4 -.1 -.8 Materials for durable manufacturing..........| 10.444 125.9 124.1 123.6 -5.1 -.4 -.5 -.6 -.5 Components for manufacturing.................| 17.910 125.8 125.7 125.7 -.2 0 .1 -.1 -.1 Materials and components for construction......| 13.989 146.7 146.8 147.2 .5 .3 .1 .1 .2 Processed fuels and lubricants.................| 11.868 80.8 76.9 75.4 -7.6 -2.0 -3.0 1.6 -1.4 Manufacturing industries ....................| 4.597 85.4 82.7 80.7 -5.9 -2.4 -2.0 .8 -1.9 Nonmanufacturing industries..................| 7.271 77.9 73.5 72.1 -8.7 -1.9 -3.8 2.0 -1.2 Containers.....................................| 3.880 139.5 138.7 137.8 -2.9 -.6 -.6 -.1 -.6 Supplies.......................................| 22.521 134.1 134.2 133.9 -1.0 -.2 0 -.1 -.2 Manufacturing industries.....................| 5.122 140.7 140.3 140.2 -.1 -.1 0 -.3 -.1 Nonmanufacturing industries..................| 17.399 131.3 131.5 131.1 -1.4 -.3 .1 -.2 -.3 Feeds......................................| 1.231 90.4 93.0 91.0 -18.1 -2.2 .1 .5 -2.2 Other supplies.............................| 16.168 136.3 136.2 136.0 .2 -.1 0 -.1 -.1 | Crude materials for further processing...........| 100.000 94.0 90.9 87.9 -12.2 -3.3 -4.0 2.6 -3.4 Foodstuffs and feedstuffs......................| 45.600 103.7 101.6 98.8 -6.0 -2.8 -4.1 5.1 -2.8 Nonfood materials..............................| 54.400 83.9 80.3 77.3 -16.9 -3.7 -3.8 .5 -4.0 Nonfood materials except fuel 3/.............| 29.494 80.4 75.4 73.5 -21.0 -2.5 -6.6 3.9 -2.8 Manufacturing 3/...........................| 27.957 73.0 68.1 66.3 -21.7 -2.6 -7.0 4.1 -2.9 Construction...............................| 1.537 190.4 191.2 193.2 -4.7 1.0 .6 -.9 .2 Crude fuel 4/................................| 24.906 81.9 80.6 76.3 -10.8 -5.3 -.2 -3.7 -5.3 Manufacturing industries...................| 2.071 80.0 77.5 74.7 -10.4 -3.6 .6 -5.4 -3.6 Nonmanufacturing industries................| 22.835 83.6 82.4 77.8 -10.9 -5.6 -.5 -3.4 -5.6 | Special groupings | | Finished goods, excluding foods..................|5/ 76.711 130.1 130.2 129.9 .7 -.2 .5 .2 -.2 Intermediate materials less foods and feeds......|6/ 95.143 122.7 121.5 121.0 -2.5 -.4 -.5 .1 -.4 Intermediate foods and feeds.....................|6/ 4.857 114.6 114.9 112.7 -4.9 -1.9 -.6 1.1 -2.0 Crude materials less agricultural products 3/ 7/.|8/ 51.467 82.7 79.3 76.3 -17.2 -3.8 -3.8 .5 -4.0 | Finished energy goods............................|5/ 11.936 74.6 71.7 70.6 -7.0 -1.5 -2.3 1.8 -1.0 Finished goods less energy.......................|5/ 88.064 142.2 143.1 142.7 1.7 -.3 .8 .4 -.3 Finished consumer goods less energy..............|5/ 62.828 143.8 145.3 144.6 2.4 -.5 1.1 .6 -.5 | Finished goods less foods and energy.............|5/ 64.775 144.7 146.0 146.0 2.2 0 1.0 -.1 0 Finished consumer goods less foods and energy....|5/ 39.539 149.1 151.6 151.5 3.8 -.1 1.8 -.1 -.1 Consumer nondurable goods less foods and energy..|5/ 23.226 160.3 165.7 165.5 6.6 -.1 3.1 .2 -.1 | Intermediate energy goods........................|6/ 11.960 80.5 76.8 75.1 -7.7 -2.2 -3.2 1.8 -1.7 Intermediate materials less energy...............|6/ 88.040 131.5 131.0 130.7 -1.9 -.2 -.2 -.2 -.3 Intermediate materials less foods and energy.....|6/ 83.183 132.7 132.1 131.9 -1.7 -.2 -.2 -.2 -.2 | Crude energy materials 3/........................|8/ 32.487 65.6 62.4 57.8 -19.4 -7.4 -5.2 .6 -7.4 Crude materials less energy......................|8/ 67.514 111.1 108.3 106.8 -8.6 -1.4 -3.4 3.5 -1.5 Crude nonfood materials less energy 4/...........|8/ 21.913 133.2 128.7 130.7 -13.3 1.6 -1.6 .2 1.1 | _______________________________________________________________________________________________________________________________ 1/ 2/ 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 October 1998 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/ 8/ Includes crude petroleum. Excludes crude petroleum. Percent of total finished goods. Percent of total intermediate materials. Formerly titled "Crude materials for further processing, excluding crude foodstuffs and feedstuffs, plant and animal fibers, oilseeds, and leaf tobacco." 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 | | |Feb. 1999 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Oct. |Jan. |Feb. | Feb. | Jan. |Nov. to|Dec. to|Jan. to | |1998 1/|1999 1/|1999 1/| 1998 | 1999 | Dec. | Jan. | Feb. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 131.4 131.5 130.9 0.5 -0.5 0.4 0.5 -0.4 | FINISHED CONSUMER GOODS...............................| 129.8 130.0 129.2 .8 -.6 .5 .8 -.6 | FINISHED CONSUMER FOODS..............................| 135.5 135.6 133.9 .2 -1.3 0 1.6 -1.4 | | 01-11 | Fresh fruits and melons 2/..........................| 93.1 103.6 106.3 12.8 2.6 1.4 19.6 2.6 01-13 | Fresh and dry vegetables 2/.........................| 148.4 124.4 95.2 -35.0 -23.5 10.8 -9.8 -23.5 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 92.0 94.0 83.5 -2.9 -11.2 -.3 2.7 -9.7 02-11 | Bakery products 2/..................................| 176.3 177.4 178.1 1.6 .4 .2 .4 .4 02-13 | Milled rice 2/......................................| 127.8 129.6 128.5 3.0 -.8 .5 1.2 -.8 02-14-02 | Pasta products (June 1985=100) 2/...................| 123.1 122.8 123.1 .8 .2 -.2 .2 .2 02-21-01 | Beef and veal.......................................| 96.8 101.4 99.9 -.2 -1.5 -.2 5.7 -2.4 02-21-04 | Pork................................................| 91.1 90.6 86.1 -11.8 -5.0 -4.5 18.3 -6.3 02-22-03 | Processed young chickens............................| 130.7 117.5 114.6 -2.6 -2.5 -1.7 -1.9 -3.0 02-22-06 | Processed turkeys...................................| 102.8 86.4 85.4 -5.1 -1.2 -1.4 -7.0 -.4 02-23 | Finfish and shellfish...............................| 181.2 184.7 186.9 -3.2 1.2 -2.0 .8 1.0 02-3 | Dairy products......................................| 148.3 149.0 145.1 9.0 -2.6 .6 3.4 -3.0 02-4 | Processed fruits and vegetables 2/..................| 125.1 126.8 127.2 1.4 .3 .1 .1 .3 02-55 | Confectionery end products 2/.......................| 169.4 171.0 170.1 1.3 -.5 .1 .5 -.5 02-62 | Soft drinks.........................................| 135.0 135.4 136.5 1.3 .8 .3 -.8 .6 02-63-01 | Roasted coffee 2/...................................| 137.2 136.9 136.9 -8.9 0 .7 -1.3 0 02-78 | Shortening and cooking oils 2/......................| 142.7 145.5 139.7 -.5 -4.0 3.3 -1.8 -4.0 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 127.1 127.5 127.0 1.1 -.4 .8 .4 -.3 | | 02-61 | Alcoholic beverages.................................| 135.8 136.8 137.0 1.5 .1 -.1 .1 -.1 03-81-01 | Women's apparel 2/..................................| 123.2 122.3 122.4 .2 .1 0 .2 .1 03-81-02 | Men's and boys' apparel.............................| 133.5 133.6 133.5 .5 -.1 .1 -.1 -.1 03-81-03 | Girls', children's, and infants' apparel 2/.........| 121.2 121.9 121.3 -1.1 -.5 -.1 .1 -.5 03-82 | Textile housefurnishings 2/.........................| 123.2 123.1 123.1 .4 0 0 -.1 0 04-3 | Footwear............................................| 144.7 145.2 145.9 .8 .5 .1 -.1 .3 05-41 | Residential electric power (Dec. 1990=100)..........| 111.1 107.9 107.3 -1.6 -.6 -.5 .4 -.6 05-51 | Residential gas (Dec. 1990=100).....................| 113.4 116.9 115.3 1.0 -1.4 .6 1.0 -.5 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 2/..................................| 12-1 | Household furniture 2/..............................| 12-3 | Floor coverings 2/..................................| 12-4 | Household appliances ...............................| 12-5 | Home electronic equipment 2/........................| 12-62 | Household glassware 2/..............................| 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/.............| 11-2 | Construction machinery and equipment................| 11-37 | Metal cutting machine tools 2/......................| 11-38 | Metal forming machine tools 2/......................| 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 11-41 | Pumps, compressors, and equipment...................| 11-44 | Industrial material handling equipment 2/...........| 11-51 | Electronic computers (Dec. 1990=100) 2/.............| 11-62 | Textile machinery 2/................................| 11-64 | Paper industries machinery (June 1982=100)..........| 11-65 | Printing trades machinery 2/........................| 11-74 | Transformers and power regulators 2/................| 11-76 | Communication & related equip. (Dec. 1985=100) 2/...| 11-79-05 | X-ray and electromedical equipment 2/...............| 11-91 | Oil field and gas field machinery ..................| 11-92 | Mining machinery and equipment 2/...................| 11-93 | Office and store machines and equipment 2/..........| 52.5 47.9 335.8 184.3 126.5 133.2 94.0 144.8 202.9 194.3 210.2 149.2 127.9 109.0 74.5 163.0 138.3 132.2 135.4 124.0 126.0 288.0 155.1 128.7 139.8 45.8 42.1 338.0 185.6 125.4 133.4 93.0 146.6 204.6 197.2 212.9 149.4 127.1 108.9 74.5 163.4 140.0 132.2 132.3 124.1 126.0 363.0 155.7 128.9 140.2 44.8 39.6 340.8 185.2 125.4 133.4 92.5 144.8 204.4 196.9 211.7 149.9 127.2 109.3 74.3 162.8 140.0 132.2 132.0 124.2 126.5 363.0 156.5 127.7 140.0 -19.7 -26.8 20.6 .1 -.6 1.4 -2.1 -.2 1.1 2.4 4.5 1.6 -1.1 .7 -3.4 .6 .7 .8 -1.2 -.2 .3 38.6 2.2 -.2 .4 138.1 137.7 137.9 0 151.2 145.2 160.2 158.3 138.9 149.3 131.8 22.6 153.0 159.9 140.6 131.8 113.7 105.8 126.3 142.2 112.3 149.9 146.2 160.2 159.2 139.0 150.7 132.1 21.0 152.9 162.6 142.2 131.4 113.5 106.0 126.6 143.0 111.9 150.0 146.5 160.4 159.3 139.1 151.1 132.4 20.7 154.0 161.4 141.0 131.3 114.1 105.9 126.5 143.2 112.0 -.1 1.1 .5 2.1 .3 1.8 1.5 -23.9 .8 1.3 1.2 1.6 -.6 -1.5 .7 .8 -.3 -2.2 -5.9 .8 -.2 0 0 -.5 -1.2 -.1 -.2 -.6 .3 .1 .4 -.3 -.4 0 0 -.2 .1 .4 0 .5 -.9 -.1 .1 .1 .2 .1 .1 .1 .3 .2 -1.4 .7 -.7 -.8 -.1 .5 -.1 -.1 .1 .1 -8.5 -10.8 .1 0 0 .3 0 .1 0 .1 .3 .3 0 .2 -.1 .1 0 0 -.2 -.2 -.1 26.3 -.3 .2 0 6.5 6.4 1.4 .4 .2 -.4 -1.1 .8 .9 -.4 1.4 0 -.9 0 .1 .2 .4 0 -1.2 .2 -.2 -.2 .6 .2 .3 .2 -4.1 .8 -.2 0 0 -.5 -1.2 -.1 .2 -.6 .3 .1 .5 -.3 -.4 0 0 -.3 -.2 .4 0 .5 -.9 -.1 0 -.1 .1 .2 -.3 0 .4 0 .2 .2 -4.5 .1 .2 .1 .1 .1 .1 -.6 .5 -.3 .1 .1 .1 .1 .1 .3 .2 -1.4 .7 -.8 -.8 -.1 .5 -.1 .2 .1 .1 -.1 .2 -.1 0 0 .3 .2 -.9 0 0 0 -.3 -.3 -.9 .2 0 -.1 12-2 14-11-05 14-11-06 14-14 14-21-02 14-31 14-4 | Commercial furniture 2/.............................| 155.5 155.6 156.2 .6 .4 0 .2 .4 | Light motor trucks..................................| 160.1 158.5 158.8 1.5 .2 .1 .1 .4 | Heavy motor trucks 2/...............................| 145.0 145.6 145.8 4.4 .1 .1 0 .1 | Truck trailers 2/...................................| 134.6 135.2 135.1 1.0 -.1 0 -.1 -.1 | Civilian aircraft (Dec. 1985=100)...................| 150.2 150.9 151.0 .6 .1 .3 .2 0 | Ships (Dec. 1985=100) 2/............................| 145.8 145.8 145.8 .2 0 0 0 0 | Railroad equipment..................................| 134.5 134.9 135.3 .6 .3 -.4 .7 .1 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 122.3 121.2 120.5 -2.7 -.6 -.5 .1 -.5 | | | INTERMEDIATE FOODS AND FEEDS..........................| 114.6 114.9 112.7 -4.9 -1.9 -.6 1.1 -2.0 | | 02-12-03 | Flour 2/............................................| 109.2 106.8 106.2 -4.1 -.6 -3.0 -.3 -.6 02-53 | Refined sugar 2/....................................| 120.0 118.5 120.2 -.3 1.4 .1 -1.0 1.4 02-54 | Confectionery materials.............................| 92.7 93.4 93.0 -2.2 -.4 .2 1.6 -.5 02-72 | Crude vegetable oils 2/.............................| 124.2 123.7 112.0 -14.8 -9.5 -7.3 1.8 -9.5 02-9 | Prepared animal feeds 2/............................| 99.5 101.6 99.9 -14.8 -1.7 .2 .3 -1.7 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 122.7 121.5 121.0 -2.5 -.4 -.5 .1 -.4 | | 03-1 | Synthetic fibers 2/.................................| 107.9 104.9 105.0 -5.6 .1 .4 -2.1 .1 03-2 | Processed yarns and threads 2/......................| 111.9 110.1 108.1 -4.7 -1.8 -.2 -.9 -1.8 03-3 | Gray fabrics 2/.....................................| 118.7 117.8 116.8 -5.3 -.8 -.1 -1.0 -.8 03-4 | Finished fabrics....................................| 123.5 122.5 122.5 -1.1 0 .2 -.3 -.2 03-83-03 | Industrial textile products 2/......................| 130.4 129.2 129.2 -.8 0 .2 -1.3 0 04-2 | Leather.............................................| 178.0 172.5 173.1 -3.5 .3 -.8 -2.8 0 05-32 | Liquefied petroleum gas 2/..........................| 52.8 50.3 49.5 -29.8 -1.6 -5.8 -3.5 -1.6 ____________________________________________________________________________________________________________________________________ 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 | | |Feb. 1999 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Oct. |Jan. |Feb. | Feb. | Jan. |Nov. to|Dec. to|Jan. to | |1998 1/|1999 1/|1999 1/| 1998 | 1999 | Dec. | Jan. | Feb. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 130.7 126.8 126.2 -0.2 -0.5 -0.2 0.2 -0.3 05-43 05-52 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 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Industrial electric power...........................| Commercial natural gas (Dec. 1990=100)..............| 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 ..................| Fats and oils, inedible 2/..........................| Mixed fertilizers...................................| Nitrogenates........................................| Phosphates 2/.......................................| Other agricultural chemicals........................| 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...............................................| Paperboard..........................................| 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.............| 130.4 104.5 100.4 74.9 47.6 47.3 41.7 119.2 155.7 144.4 135.2 113.8 114.3 101.5 115.5 146.8 118.6 116.4 125.0 126.7 117.1 171.9 177.6 171.7 156.7 116.9 143.5 146.9 153.1 134.6 152.9 134.9 111.8 102.6 139.0 148.8 140.2 107.1 147.2 174.4 153.5 143.2 130.5 125.7 158.4 127.4 111.1 105.7 79.2 37.5 39.7 35.2 118.9 156.3 144.5 141.1 110.5 114.0 95.6 112.8 145.9 115.4 115.5 124.4 126.1 117.1 181.3 176.3 171.6 161.8 116.1 142.3 142.8 151.0 130.9 152.0 135.2 107.9 99.6 136.0 146.2 136.0 108.6 147.7 175.2 153.5 142.8 130.7 126.0 159.7 126.6 109.2 101.3 80.9 36.1 37.0 28.2 118.0 157.1 142.9 138.8 98.9 114.0 96.1 114.3 145.5 115.1 115.5 124.9 124.9 117.2 186.8 175.0 171.9 168.9 113.0 141.1 141.7 150.2 131.9 152.1 135.0 106.6 96.1 134.5 145.3 134.7 107.0 147.2 174.0 153.4 142.6 130.6 125.8 160.3 -.5 .7 -6.4 -9.0 -30.7 -27.9 -40.4 -4.9 2.4 -.5 2.6 -11.5 -1.9 -16.4 4.2 -3.2 -12.9 -2.6 -1.7 -3.8 -.1 -3.2 -2.7 .6 10.2 -11.6 -4.5 -9.2 -3.7 2.6 .7 .1 -8.0 -15.6 -8.1 -8.9 -5.1 -2.0 0 -.9 .1 .8 .9 -.5 2.0 -.6 -1.7 -4.2 2.1 -3.7 -6.8 -19.9 -.8 .5 -1.1 -1.6 -10.5 0 .5 1.3 -.3 -.3 0 .4 -1.0 .1 3.0 -.7 .2 4.4 -2.7 -.8 -.8 -.5 .8 .1 -.1 -1.2 -3.5 -1.1 -.6 -1.0 -1.5 -.3 -.7 -.1 -.1 -.1 -.2 .4 -.2 -1.0 -4.9 -3.5 -19.9 -10.8 -7.2 .2 .1 .7 .3 -2.4 -.1 -2.7 -1.3 -.1 -1.0 -.3 .2 0 .2 2.8 -.3 .1 -.2 -.8 -1.2 -1.6 -.9 -.8 -.1 .1 -1.1 -1.8 -.9 -1.7 -1.2 0 .1 .1 .1 .1 -.2 0 .2 .1 .7 .6 -.8 7.5 4.2 -3.0 -.8 .1 -.1 2.9 0 -.3 -1.9 -.6 -2.7 -.4 -.2 .2 -.3 0 4.1 -.3 0 .1 3.3 -.6 .6 -.1 .3 -.5 -.1 -1.5 .8 -.8 -.7 -.2 0 .1 .5 -.3 -.3 .3 -.1 -.2 -.5 -1.0 -2.9 .8 -2.7 -3.3 -19.9 -.8 .2 -1.1 -1.6 -10.5 -.5 -.2 1.3 .1 -.3 0 .3 -1.0 .1 3.0 -1.0 .2 4.4 -2.7 -.6 -.8 -.5 .8 .1 -.3 -1.2 -3.5 -1.1 -.6 -1.0 -1.5 -.3 -1.5 -.1 -.1 -.1 -.2 .3 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 | 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................................................| 01-31 | Slaughter cattle 2/.................................| 01-32 | Slaughter hogs......................................| 01-41-02 | Slaughter broilers/fryers...........................| 01-42 | Slaughter turkeys...................................| 01-6 | Fluid milk..........................................| 01-83-01-31| Soybeans 2/.........................................| 02-52-01-01| Cane sugar,raw 2/...................................| | | | 01-51-01-01| 01-92-01-01| 04-11 | 05-1 | 05-31 | 05-61 | 08-5 | | CRUDE NONFOOD MATERIALS..............................| | Raw cotton..........................................| Leaf tobacco 2/.....................................| Cattle hides 2/.....................................| Coal 2/.............................................| Natural gas 2/......................................| Crude petroleum 2/..................................| Logs, timber, etc...................................| 135.7 158.6 165.7 152.5 146.1 149.0 99.4 141.0 136.8 106.9 147.8 141.3 100.5 184.2 126.0 114.6 138.0 144.6 129.0 143.9 136.0 159.7 166.2 153.1 146.3 149.9 99.2 142.1 136.8 104.4 148.8 142.1 100.1 185.8 126.6 113.7 138.6 143.8 129.0 143.8 136.1 159.9 166.3 152.1 146.3 150.0 98.9 143.1 136.8 104.4 149.0 142.6 98.6 191.2 125.8 113.7 139.6 143.5 125.1 143.7 2.3 3.1 1.0 -1.4 .4 1.8 -1.8 2.1 .8 -2.7 5.7 3.8 .1 11.0 -.1 -1.0 2.4 1.1 -2.0 .1 .1 .1 .1 -.7 0 .1 -.3 .7 0 0 .1 .4 -1.5 2.9 -.6 0 .7 -.2 -3.0 -.1 .1 .3 .1 .1 -.4 .1 -.1 0 0 0 .5 .2 .1 -1.5 0 -.1 1.4 .1 0 .1 -.1 .4 -.6 .4 .1 0 -.3 .7 .1 -2.3 .5 .4 -.1 1.1 .5 -.4 -.9 .3 0 -.2 -.1 .1 .1 -1.0 0 .1 -.3 .6 0 0 .1 .3 -1.5 2.9 -.6 0 .9 -.2 -3.0 -.3 94.0 90.9 87.9 -12.2 -3.3 -4.0 2.6 -3.4 103.7 101.6 98.8 -6.0 -2.8 -4.1 5.1 -2.8 85.7 80.5 89.7 46.8 171.6 135.5 127.7 92.2 115.8 86.7 83.7 91.5 44.6 140.2 96.3 130.4 91.8 119.0 83.0 84.5 93.1 46.4 136.0 97.0 117.2 84.0 118.7 -13.4 -20.8 1.4 -20.7 9.1 9.6 9.8 -28.1 2.0 -4.3 1.0 1.7 4.0 -3.0 .7 -10.1 -8.5 -.3 -4.4 .1 -6.0 -46.5 -2.9 -2.6 2.8 -3.4 1.2 .9 -3.6 6.8 188.6 -5.6 -3.5 -.8 -1.0 .9 -4.3 -1.3 1.7 -1.2 2.4 1.1 -8.3 -8.5 -.3 83.9 80.3 77.3 -16.9 -3.7 -3.8 .5 -4.0 114.0 109.6 142.6 92.8 77.6 35.2 201.0 94.4 112.4 143.7 94.7 74.7 30.4 200.7 91.7 112.6 142.9 90.2 71.0 26.2 202.1 -15.1 -.3 -7.6 -4.6 -13.3 -39.4 -6.6 -2.9 .2 -.6 -4.8 -5.0 -13.8 .7 -11.9 5.8 9.7 -1.7 .5 -20.2 .2 -4.3 -.2 .3 2.8 -7.0 16.5 -1.2 -5.1 .2 -.6 -4.8 -5.0 -13.8 -.5 09-12 | Wastepaper 2/.......................................| 132.8 123.2 139.6 -15.1 13.3 -8.2 5.8 13.3 10-11 | Iron ore 2/.........................................| 95.6 94.9 94.9 -.3 0 .1 -.8 0 10-12 | Iron and steel scrap 2/.............................| 129.1 126.1 129.8 -32.9 2.9 .7 6.2 2.9 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 63.8 60.3 61.5 -9.4 2.0 -4.8 -1.3 2.0 10-23-01 | Copper base scrap 2/................................| 111.2 94.8 90.6 -26.5 -4.4 -8.5 -5.7 -4.4 10-23-02 | Aluminum base scrap.................................| 145.8 142.9 146.1 -20.9 2.2 -3.3 -2.7 .6 13-21 | Construction sand, gravel, and crushed stone........| 153.7 154.2 154.9 2.7 .5 .4 -.4 .6 ____________________________________________________________________________________________________________________________________ 1/ The indexes for October 1998 have been recalculated to incorporate 2/ Not seasonally adjusted. late reports and corrections by respondents. All indexes are 3/ Not available. subject to revision 4 months after original publication. Table 3. Producer price indexes for selected commodity groupings (1982=100 unless otherwise indicated) _______________________________________________________________________________________________ | | | | | Unadjusted index 1/ | Commodity| |___________________________________| code | Grouping | Oct. 1998 | Jan. 1999 | Feb. 1999 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 368.8 | 369.1 | 367.4 | | All commodities................................| 124.0 | 123.2 | 122.4 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 122.8 | 122.2 | 120.2 | 01 | Farm products................................| 104.8 | 102.4 | 98.6 | 02 | Processed foods and feeds....................| 131.8 | 132.0 | 130.9 | | | | | | | Industrial commodities.........................| 124.2 | 123.4 | 122.8 | 03 | Textile products and apparel.................| 122.5 | 121.6 | 121.3 | 04 | Hides, skins, leather, and related products..| 146.4 | 145.5 | 145.9 | 05 | Fuels and related products and power 2/......| 74.2 | 70.9 | 68.8 | 06 | Chemicals and allied products 2/.............| 143.3 | 143.0 | 142.7 | 07 | Rubber and plastic products..................| 122.2 | 122.0 | 121.7 | 08 | Lumber and wood products.....................| 175.5 | 177.5 | 179.8 | 09 | Pulp, paper, and allied products.............| 171.1 | 170.8 | 170.7 | 10 | Metals and metal products....................| 125.5 | 123.9 | 123.6 | 11 | Machinery and equipment......................| 124.6 | 124.6 | 124.7 | 12 | Furniture and household durables.............| 131.3 | 131.3 | 131.6 | 13 | Nonmetallic mineral products.................| 136.6 | 136.8 | 137.2 | 14 | Transportation equipment.....................| 142.9 | 141.9 | 142.0 | 15 | Miscellaneous products.......................| 156.3 | 165.8 | 165.3 | 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 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 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.................................| 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........| 138.6 122.3 84.6 78.7 161.8 112.6 111.7 113.8 103.0 163.5 157.4 111.7 124.6 134.4 137.1 134.9 141.4 127.1 144.7 70.2 130.2 51.0 248.6 127.2 135.1 115.3 115.8 138.9 128.7 171.7 144.8 151.3 117.6 119.3 133.3 147.5 147.9 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 138.7 120.6 87.0 79.3 129.5 93.5 109.7 112.0 103.2 167.7 157.9 110.9 114.9 135.2 137.6 134.6 139.2 126.8 144.9 67.4 126.7 44.6 252.0 124.7 134.8 114.6 114.9 138.7 128.7 177.8 143.3 150.4 114.6 115.8 130.9 147.5 148.9 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 138.6 110.6 86.4 81.0 126.4 90.8 98.2 103.5 93.0 167.9 158.1 109.4 113.0 135.0 138.1 134.6 132.0 126.8 145.3 64.5 126.0 42.5 252.8 125.1 134.7 114.4 114.9 138.7 128.3 181.2 142.7 149.5 114.0 115.5 129.8 147.7 149.1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11-6 | Special industry machinery.....................| 159.3 | 160.5 | 160.6 | 11-7 | Electrical machinery and equipment.............| 120.6 | 120.5 | 120.6 | 11-9 | Miscellaneous machinery and equipment..........| 132.2 | 132.8 | 133.0 | 12-6 | Other household durable goods..................| 151.6 | 152.0 | 151.9 | 13-2 | Concrete ingredients...........................| 149.0 | 149.6 | 150.2 | 14-1 | Motor vehicles and equipment...................| 133.7 | 132.0 | 132.0 | 15-1 | Toys, sporting goods, small arms, etc..........| 132.2 | 132.4 | 132.7 | 15-4 | Photographic equipment and supplies............| 113.3 | 113.3 | 110.6 | 15-9 | Other miscellaneous products...................| 134.9 | 135.1 | 135.0 | __________________________________________________________|___________|___________|___________| 1/ Data for October 1998 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_Feb._1999_from: code | |base | | | | | | | |Oct. |Jan. |Feb. | Feb. | Jan. | | |1998 2/|1999 2/|1999 2/| 1998 | 1999 __________________|______________________________________________|_____|_______|_______|_______|________|_________ | | | |Total mining industries...................... |12/84| 67.9 65.0 62.1 -15.6 -4.5 10 | Metal mining................................ |12/84| 71.0 68.0 69.1 -6.9 1.6 12 | Coal mining................................. |12/85| 88.8 89.7 87.1 -3.4 -2.9 13 | Oil and gas extraction...................... |12/85| 64.6 60.8 57.3 -20.4 -5.8 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 132.9 132.9 133.1 1.6 .2 | | | |Total manufacturing industries............... |12/84| 126.4 126.3 126.0 -.1 -.2 20 | Food and kindred products................... |12/84| 126.6 126.7 125.9 -.1 -.6 21 | Tobacco manufactures........................ |12/84| 247.7 316.0 315.9 41.2 0 22 | Textile mill products....................... |12/84| 117.8 117.1 116.8 -2.1 -.3 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 125.3 125.1 125.1 .6 0 24 | Lumber and wood products, except furniture.. |12/84| 155.3 156.7 158.3 .1 1.0 25 | Furniture and fixtures...................... |12/84| 140.1 140.2 140.6 .9 .3 26 | Paper and allied products................... |12/84| 134.6 133.5 132.8 -3.6 -.5 27 | Printing, publishing, and allied industries. |12/84| 174.9 175.9 176.3 1.9 .2 28 | Chemicals and allied products............... |12/84| 148.3 148.1 148.1 .7 0 29 | Petroleum refining and related products..... |12/84| 65.5 58.8 56.1 -20.0 -4.6 30 | Rubber and miscellaneous plastic products... |12/84| 121.6 121.6 121.2 -1.1 -.3 31 32 33 34 | Leather and leather products................ |12/84| 137.1 136.1 136.6 -.6 .4 | Stone, clay, glass, and concrete products... |12/84| 130.4 130.5 131.1 2.6 .5 | Primary metal industries.................... |12/84| 119.1 116.3 115.4 -6.2 -.8 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 128.7 128.9 128.8 .3 -.1 35 | Machinery, except electrical................ |12/84| 117.4 117.4 117.5 -.4 .1 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 110.0 109.9 109.8 -.7 -.1 37 | Transportation equipment.................... |12/84| 135.4 134.7 134.6 .4 -.1 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 125.8 126.0 126.0 .1 0 39 | Miscellaneous manufacturing industries...... |12/85| 129.8 130.1 130.1 .4 0 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 101.7 101.4 101.0 -.8 -.4 42 | Motor freight transportation and warehousing |06/93| 112.6 113.2 113.4 2.5 .2 43 | United states postal service................ |06/89| 132.3 135.4 135.4 2.3 0 44 | Water transportation........................ |12/92| 108.4 106.0 105.0 2.2 -.9 45 | Transportation by air....................... |12/92| 125.4 127.6 128.6 4.0 .8 46 | Pipe lines, except natural gas.............. |12/86| 99.2 96.9 98.2 -1.1 1.3 80 | Health services............................. |12/94| 108.3 108.9 109.2 2.0 .3 81 | Legal services.............................. |12/96| 106.5 107.2 107.6 1.9 .4 __________________________________________________________________________________________________________________ 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 October 1998 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 | | | | | | | Sep. | Oct. | Nov. | Dec. | Jan. | Feb. | 1998 | 1998 | 1998 | 1998 | 1999 | 1999 _______________________________________________________|________|________|________|________|________|_______ Finished goods...................................| 130.6 131.0 130.6 131.1 131.8 131.3 Finished consumer goods........................| 128.8 129.3 128.8 129.5 130.5 129.7 Finished consumer foods......................| 134.4 135.0 134.3 134.3 136.5 134.6 Crude......................................| 122.7 133.5 125.6 128.5 138.2 125.7 Processed..................................| 135.3 135.0 135.0 134.8 136.4 135.3 Finished consumer goods, excluding foods.....| 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..............| | 126.2 121.8 133.1 137.6 138.0 137.4 126.7 122.3 133.4 137.7 138.0 137.5 126.3 121.7 133.3 137.7 138.1 137.4 127.3 123.2 133.3 137.7 138.1 137.4 127.8 124.0 132.9 137.5 138.1 137.1 127.4 123.6 132.8 137.6 138.3 137.2 122.4 125.4 124.3 125.1 127.2 125.9 147.3 79.6 84.7 76.5 140.7 134.3 140.7 131.6 92.9 136.3 122.2 125.0 124.8 124.3 126.0 125.9 146.8 80.5 85.4 77.4 139.4 134.2 140.7 131.4 90.4 136.3 121.9 124.7 124.8 124.0 125.4 125.7 146.7 79.4 84.9 76.2 139.4 134.3 140.7 131.5 92.4 136.3 121.3 124.3 123.7 123.5 124.8 125.8 146.8 77.0 83.2 73.3 138.6 134.3 140.7 131.6 92.5 136.3 121.4 124.2 125.3 123.4 124.1 125.7 147.0 78.2 83.9 74.8 138.5 134.1 140.3 131.4 93.0 136.1 120.8 123.5 122.8 122.4 123.5 125.6 147.3 77.1 82.3 73.9 137.7 133.8 140.2 131.0 91.0 135.9 91.6 100.0 82.6 83.1 75.4 192.7 75.3 74.3 76.7 93.9 103.2 84.1 80.8 73.2 192.5 81.9 80.0 83.6 93.1 102.6 83.2 77.8 70.4 191.3 83.9 81.4 85.7 89.4 98.4 80.0 72.7 65.5 192.4 83.7 81.9 85.3 91.7 103.4 80.4 75.5 68.2 190.6 80.6 77.5 82.4 88.6 100.5 77.2 73.4 66.2 190.9 76.3 74.7 77.8 129.4 122.9 114.7 81.3 129.7 122.7 114.2 82.9 129.4 122.3 114.8 82.0 130.1 121.7 114.1 78.9 130.4 121.8 115.3 79.3 130.2 121.3 113.0 76.1 73.6 141.4 142.9 74.2 141.7 143.3 73.3 141.5 143.0 71.6 142.7 144.6 72.9 143.2 145.5 72.2 142.7 144.7 Finished goods less foods and energy.............| 144.1 144.3 144.3 145.8 145.7 145.7 Finished consumer goods less foods and energy....| 148.4 148.7 148.6 151.3 151.2 151.1 Consumer nondurable goods less foods and energy..| 160.1 160.4 160.3 165.3 165.6 165.4 | Intermediate energy goods........................| 79.4 80.2 79.2 76.7 78.1 76.8 Intermediate materials less energy...............| 132.0 131.6 131.4 131.2 131.0 130.6 Intermediate materials less foods and energy.....| 133.1 132.7 132.5 132.3 132.1 131.8 | Crude energy materials 2/........................| 62.2 65.6 65.4 62.0 62.4 57.8 Crude materials less energy......................| 109.7 110.9 109.7 106.0 109.7 108.0 Crude nonfood materials less energy 3/...........| 138.2 134.0 130.9 128.8 129.0 130.4 _____________________________________________________________________________________________________________ 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 October 1998 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 Producer price indexes (PPI) measure average changes in prices received by domestic producers of commodities in all stages of processing. Most of the information used in calculating the indexes is obtained through the systematic sampling of nearly every industry in the manufacturing and mining sectors of the economy. The PPI program also includes some information from other sectors--agriculture, fishing, forestry, services, and gas and electricity. Because producer price indexes are designed to measure only the change in prices received for the output of domestic industries, imports are not included. The sample currently contains about 3,200 commodities and 80,000 quotations per month. There are three primary systems of indexes within the PPI program: (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 and 2) organizes products by class of buyer and degree of processing. 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) and the Census product code extension of the 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. 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. 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. 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 1987 values of shipments as reported in the Census of Manufactures and other sources. From January 1987 through December 1991, PPI weights were derived from 1982 shipment values. Industry indexes shown in table 4 are also now calculated with 1987 net output weights. 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, to coincide with the reference year of the shipment weights. 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 16, "Producer Prices," in BLS Handbook of Methods (September 1992), Bulletin 2414. Reprints are available from the Bureau of Labor Statistics on request. Calculating Index Changes 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 chances are affected by the level of the index in relation to its base period, while percent changes are not. The box shows the computation of index point and percent changes. Percent changes for 3-month and 6-month periods can be expressed as annual rates that are computed according to the standard formula for compound growth rates. These data indicate what the percent change would be if the rate for a given 3- or 6-month span were maintained for a 12-month period. 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 3.5 Divided by the previous index 104.0 Equals 0.034 Result multiplied by 100 0.034 x 100 Equals percent change 3.4 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 to-day." 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. Seasonally Adjusted and Unadjusted Data Because price data are used for different purposes by different groups, the Bureau of Labor Statistics publishes seasonally adjusted as well as 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 which 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 (September 1992), Bulletin 2414.
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