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FOR DATA ONLY: (202) 691-5200 FOR TECHNICAL INFORMATION: (202) 691-7705 MEDIA CONTACT: (202) 691-5902 http://stats.bls.gov/ppihome.htm USDL 01-44 TRANSMISSION OF MATERIAL IN THIS RELEASE IS EMBARGOED UNTIL 8:30 A.M. (E.S.T.), FRIDAY, FEBRUARY 16, 2001 Producer Price Indexes -- January 2001 The Producer Price Index for Finished Goods advanced 1.1 percent in January, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. January's rise followed a 0.2-percent increase in December 2000 and a 0.1-percent gain in November 2000. At the earlier stages of process, prices received by producers of intermediate goods increased 0.7 percent, following a 0.4-percent rise in the prior month, and the crude goods index advanced 13.9 percent, after posting an 8.5-percent increase a month earlier. (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 Jan. -0.1 0.0 0.2 -0.2 2.5 0.4 2.5 Feb. .9 .4 4.2 .4 4.0 .8 3.7 Mar. .9 .1 5.3 .1 4.3 1.0 1.8 Apr. -.3 1.1 -3.5 0 3.6 -.1 -1.5 May 0 .1 -.8 .2 3.7 0 3.1 June .9 -.4 6.1 .1 4.4 .9 8.5 July -.1 -.1 -.6 .1 4.3 .2 -2.0 Aug. -.1 -.4 -1.2 .2 3.4 -.3 -3.6 Sept. .7 .2 3.4 .3 3.5 .8 7.1 Oct. .4 .7 1.6 -.1 3.6 .2 2.3 Nov. .1 .3 .8 0 3.7 -.2 -2.0 Dec. .2 -.4 .8 .1 3.6 .4 8.5 2001 Jan. 1.1 .8 3.8 .7 4.8 .7 13.9 NOTE: Some of the percent changes shown here and elsewhere in this release may differ from those previously reported because seasonal adjustment factors have been recalculated to reflect developments during 2000. In addition, indexes for September 2000 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. Among finished goods in January, prices for finished energy goods rose 3.8 percent, following a 0.8-percent gain in December. The index for finished consumer foods turned up 0.8 percent, after falling 0.4 percent a month ago. Prices for finished goods other than foods and energy rose 0.7 percent, after edging up 0.1 percent in December. Price increases for cigarettes and passenger cars accounted for a large part of this acceleration. Excluding cigarettes and passenger cars, the index for finished goods other than foods and energy would have risen 0.3 percent. Before seasonal adjustment, the Producer Price Index for Finished Goods advanced 1.1 percent to stand at 141.2 (1982=100). From January 2000 to January 2001, prices for finished goods increased 4.8 percent. Over the same period, the finished energy goods index rose 21.6 percent, prices for finished goods other than foods and energy gained 2.0 percent, and the finished consumer foods index advanced 2.5 percent. Prices received by domestic producers of intermediate goods moved up 4.4 percent for the 12 months ended January 2001, and the index for crude goods registered a 46.5percent gain for the same period. Table B. Monthly and annual percent changes in selected price indexes for intermediate goods and crude goods, seasonally adjusted __________________________________________________________________________________ | | | | | | Intermediate goods | Crude goods | | | | | | |---------------------------------------------------------------------------| | | | | |Change in | | | | Change | | | | | | interme- | | | |in crude | | | | | | diate | | | | goods | | | | | |goods from| | | | from 12 | | | | |Excluding|12 months | | |Excluding| months | | | | |foods and|months ago| | Energy |foods and| ago | |Month | Foods | Energy | energy | (unadj.) | Foods | (unadj.)| energy |(unadj.) | |----------------------------------------------------------------------------------| 2000 Jan. -0.1 1.3 0.4 4.1 0.4 4.7 2.2 17.4 Feb. .5 3.8 .3 5.4 .3 8.9 .4 25.1 Mar. 1.0 4.0 .4 5.9 2.6 2.3 -.5 26.9 Apr. May June July Aug. Sept. Oct. Nov. Dec. .8 .9 0 -.6 -2.0 .6 .6 .1 1.7 -2.5 -1.1 4.9 1.0 -.5 4.3 .8 .3 1.5 .4 .1 .1 .2 -.1 0 0 -.1 0 5.3 5.0 5.5 5.2 4.3 4.6 4.6 4.2 4.1 1.4 -.9 -2.3 -1.9 -3.9 3.8 3.1 1.3 3.4 -4.5 8.8 22.6 -2.3 -4.1 11.7 2.8 -4.1 14.8 -.7 -.7 -1.8 -1.5 -1.6 .8 -.6 -2.3 .3 22.2 19.0 29.0 25.3 14.7 17.4 23.4 14.9 31.6 2001 Jan. 1.7 3.1 .2 4.4 2.2 25.0 .5 46.5 NOTE: Some of the percent changes shown here and elsewhere in this release may differ from those previously reported because seasonal adjustment factors have been recalculated to reflect developments during 2000. In addition, indexes for September 2000 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. Finished goods The index for finished energy goods advanced 3.8 percent in January, after posting a 0.8-percent rise in December. Liquefied petroleum gas prices jumped 15.3 percent, after inching up 0.1 percent in the prior month. The gasoline index turned up, following a decline a month earlier. Prices for residential natural gas and residential electric power rose more than in the previous month. Conversely, the index for home heating oil declined 3.6 percent in January, after falling 0.3 percent a month ago. Diesel fuel prices turned down, after rising last month. The index for finished consumer foods rose 0.8 percent in January, after falling 0.4 percent in December. Much of this acceleration can be traced to the index for fresh and dry vegetables, which advanced 16.2 percent, following a 26.0-percent decline a month ago. Prices for soft drinks increased, after showing no change last month. The index for fresh fruits and melons rose more than a month earlier. Prices for bakery products, processed fruits and vegetables, and confectionery end products turned up, after decreasing in the previous month. By contrast, pork prices fell 2.6 percent in January, following a 0.4-percent gain in December. The index for eggs for fresh use also turned down, after increasing in the prior month. Prices for dairy products and for finfish and shellfish rose less than a month ago, and the index for processed young chickens fell more than in December. Prices for finished consumer goods other than foods and energy advanced 0.8 percent in January, following a 0.2-percent gain in December. The cigarette index increased 6.3 percent, after showing no change last month. Passenger car prices advanced more than a month earlier. The index for sanitary papers and health products turned up, following a decline in the previous month. Prices for pet food and for cosmetics and other toilet preparations increased, after showing no change in the prior month. By contrast, the index for alcoholic beverages edged down 0.1 percent, following a 1.1-percent rise in December. Prices for floor coverings also turned down, after advancing a month ago. In January, price increases slowed for light motor trucks and book publishing. The capital equipment index increased 0.3 percent in January, following a 0.1-percent gain in December. Passenger car prices rose 1.2 percent, after advancing 0.2 percent in the previous month. The indexes for x-ray and electromedical equipment, heavy motor trucks, and for tools, dies, jigs, fixtures, and industrial molds turned up, following declines in December. Prices for commercial furniture and civilian aircraft increased more than in the prior month. Conversely, the electronic computer index fell 5.4 percent in January, following a 2.0-percent decrease in December. Light motor truck prices rose less than a month ago. The indexes for communication and related equipment and for construction machinery and equipment declined, after showing no change in December. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components advanced 0.7 percent, seasonally adjusted, after registering a 0.4-percent gain in December. In January, prices for intermediate energy goods increased more than a month earlier, and the index for nondurable manufacturing materials turned up, following a decline in the previous month. By contrast, prices for durable manufacturing materials and materials and components for construction moved down, after rising in the prior month. The index for intermediate foods and feeds advanced 1.7percent for the second consecutive month. Excluding foods and energy, prices for intermediate materials increased 0.2 percent, after showing no change a month ago. (See table B.) The index for intermediate energy goods jumped 3.1 percent in January, following a 1.5-percent gain in December. Posting its largest increase since a 4.3-percent rise in February 1980, prices for commercial electric power moved up 3.9 percent, after advancing 0.5 percent in the previous month. Record increases for the commercial natural gas index (21.1 percent) and the natural gas to electric utilities index (64.4 percent) were recorded in January, following smaller gains in December. The indexes for liquefied petroleum gas and industrial electric power also rose more than a month ago. Gasoline prices turned up, after falling in the prior month. On the other hand, the jet fuel index dropped 12.9 percent in January, following a 3.0-percent rise in December. Diesel fuel prices also declined, after advancing a month ago. The industrial natural gas index increased less than last month. Prices for nondurable manufacturing materials rose 1.1 percent in January, after edging down 0.1 percent in December. The plastic resins and materials index advanced 2.3 percent, following a 2.8-percent drop in the previous month. Prices for basic organic chemicals (other than primary and intermediate basic organics), paper, and processed yarns and threads also turned up, after falling a month earlier. The indexes for nitrogenates and inedible fats and oils increased more than in the prior month. By contrast, prices for primary basic organic chemicals rose 1.3 percent, following a 3.2-percent gain in December. The indexes for finished fabrics and phosphates turned down, after advancing a month ago. Synthetic fiber prices declined, after showing no change a month earlier. The durable manufacturing materials index decreased 0.7 percent in January, following a 0.2-percent gain in December. Prices for steel mill products dropped 1.7 percent (the largest decline since a 4.6-percent decline in January 1986), after showing no change in the previous month. The indexes for aluminum mill shapes, copper cathode and refined copper, and copper and brass mill shapes fell, following increases a month earlier. Prices for softwood plywood decreased more than in the prior month. On the other hand, the hardwood lumber index turned up 0.4 percent, after declining 0.6 percent in December. Prepared paint prices also rose, following a decrease a month ago. The index for primary aluminum (except extrusion billet) advanced more than in the previous month. Prices for materials and components for construction turned down 0.3 percent in January, after edging up 0.1 percent in December. The softwood lumber index fell 2.9 percent, following a 0.1-percent gain a month earlier. Prices for fabricated structural metal products, asphalt felts and coatings, steel wire, and switchgear also decreased, after increasing in the prior month. The indexes for softwood plywood and gypsum products declined more than a month ago. By contrast, millwork prices advanced 0.3 percent, following no change in December. The heating equipment index rose more than in the previous month, while prices for fabricated ferrous wire products turned up, after falling a month earlier. For the second consecutive month, the intermediate foods and feeds index increased 1.7 percent. In January, rising prices were observed for prepared animal feeds, fluid milk products, beef and veal, frozen ground meat patties, confectionery materials, refined sugar, and flour. Partly offsetting these advances were falling prices for pork; crude vegetable oils; natural, processed, and imitation cheese; and butter. Crude Goods Registering the largest one-month increase in crude goods prices since a 22.1-percent advance registered in August 1973, the Producer Price Index for Crude Materials for Further Processing increased 13.9 percent in January, seasonally adjusted, following an 8.5-percent gain in December. The indexes for crude energy materials and basic industrial materials rose more in January than in the previous month. By contrast, prices for crude foodstuffs and feedstuffs advanced at a slower rate than in December. (See table B.) The index for crude energy materials advanced 25.0 percent in January, following a 14.8-percent increase in December. Natural gas prices jumped 46.0 percent (the largest increase on record), after rising 35.3 percent in the previous month. The crude petroleum index fell 10.6 percent, following an 11.1-percent decrease a month ago. On the other hand, coal prices declined 3.0 percent, after a 3.0-percent gain in the prior month. The index for crude nonfood material less energy increased 0.5 percent in January, after registering a 0.3-percent gain in December. Prices for iron and steel scrap advanced 8.3 percent, after rising 0.2 percent a month earlier. The indexes for aluminum base scrap and construction sand, gravel, and crushed stone turned up, after falling last month. Prices for wastepaper decreased less than in the prior month. The indexes for hardwood logs and pulpwood rose more than a month ago. By contrast, raw cotton prices declined 8.8 percent in January, after increasing 2.5 percent in December. The leaf tobacco index advanced at a slower rate than in the previous month. Prices for gold ores and phosphates turned down, after showing gains a month earlier. The index for crude foodstuffs and feedstuffs increased 2.2 percent in January, after registering a 3.4-percent gain in December. Slaughter cattle prices moved up 2.5 percent, following a 5.5-percent rise in the previous month. The indexes for slaughter hogs, soybeans, and unprocessed shellfish turned down, after advancing a month ago. Prices for slaughter broilers and fryers increased less than a month earlier. By contrast, corn prices rose 7.0 percent, after falling 0.1 percent in December. The indexes for fresh and dry vegetables and wheat also advanced, after decreasing in the prior month. Fluid milk prices increased at a faster rate than a month earlier. Net output price indexes for mining, manufacturing, and services industries Mining. The Producer Price Index for the Net Output of Total Domestic Mining Industries rose 22.3 percent in January, following a 12.0-percent increase in December. (Net output price indexes are not seasonally adjusted.) Most of this acceleration can be traced to prices received by the crude petroleum, natural gas, and natural gas liquids industry, which jumped 27.9 percent, after posting a 14.9-percent gain in the prior month. In January, the index for the oil and gas field services industry group also rose at a faster pace than a month earlier. Prices received by the construction sand and gravel industry and the coal mining services industry increased, following declines in the previous month. The index for the crushed and broken limestone industry advanced, after showing no change last month. By contrast, prices received by the bituminous coal and lignite industry turned down 1.6 percent, following a 2.1-percent rise in December. The index for the gold ores industry also fell, after increasing a month ago. Prices paid to kaolin and ball clay producers rose less than a month earlier. In January, the Producer Price Index for the Net Output of Total Domestic Mining Industries stood at 170.8 (December 1984=100), 90.8 percent above its year-ago level. Manufacturing. The Producer Price Index for the Net Output of Total Domestic Manufacturing Industries increased 0.2 percent in January, after declining 0.4 percent in December. Rising prices paid to the tobacco manufactures, chemical and allied products, food and kindred products, and printing and publishing industry groups outweighed falling prices paid to the petroleum refining, lumber and wood products, primary metals, and apparel industry groups. In January, the Producer Price Index for the Net Output of Total Domestic Manufacturing Industries stood at 134.7 (December 1984=100), 3.0 percent above its year-ago level. Services. Among service industries in January, price increases were registered for offices of physicians, real estate agents and managers, legal services, hotels and motels, and the Unites States Postal Service. On the other hand, falling prices were observed for operators and lessors of nonresidential buildings; telephone communications, except radiotelephone; wireless telecommunications; and truck rental and leasing. ***** Producer Price Index data for February 2001 will be released on Friday, March 16, 2001 at 8:30 a.m. (E.S.T.) Recalculation of Seasonal Adjustment Factors Effective with this release, seasonal adjustment factors have been recalculated to reflect 2000 price-movement patterns for stage-ofprocessing (SOP) and commodity groupings. This routine annual recalculation may affect seasonally adjusted indexes and percent changes from January 1996 to the present. Revised seasonally adjusted data for this period, as well as seasonal factors for commodity indexes to be used through December 2001, are available on request from BLS. The table below shows 2000 monthly seasonally adjusted percent changes for the three major SOP categories calculated with the old seasonal factors, compared with the percent changes for recalculated indexes. The latter incorporate new seasonal factors that reflect 2000 price movement patterns. Over-the-month percent changes in major stage-of-processing indexes, seasonally adjusted, using former and recalculated seasonal factors for 2000 Finished Goods Month Former Recalculated Recalculated January 0.1 -0.1 February 1.1 .9 March .7 .9 April -.4 -.3 May .1 0 June .9 .9 July .1 -.1 August -.4 -.1 September .8 .7 October .4 .4 November .1 .1 December 0 .2 Intermediate Goods Former Recalculated 0.5 .9 .9 -.1 -.1 .9 .4 -.4 .7 .2 -.2 .2 0.4 .8 1.0 -.1 0 .9 .2 -.3 .8 .2 -.2 .4 Crude Goods Former 2.6 3.9 2.2 -1.5 3.0 8.4 -2.4 -3.7 6.1 3.4 -2.0 8.7 2.5 3.7 1.8 -1.5 3.1 8.5 -2.0 -3.6 7.1 2.3 -2.0 8.5 Improved Quality Adjustment for Microprocessors Effective with this release, the Bureau of Labor Statistics implemented a new quality valuation methodology for microprocessors designed and sold for computer applications. This new quality adjustment methodology views changes in the processing power of microprocessors as changes in quality and permits the explicit estimation of their value. The new approach replaced old procedures which were generally limited to considering price differences between a new microprocessor and its predecessor as a measure of the value of the quality difference between the two. For additional information, see the October 2000 issue of the PPI Detailed Report, or contact the Section of Index Analysis and Public Information at (ppi-info@BLS.gov) or (202) 691-7705. Resampling of Industries Effective with this release, the Producer Price Index (PPI) includes data for 41 resampled industries. The Bureau of Labor Statistics periodically updates the sample of producers providing data for the PPI to reflect current conditions more accurately when the structure, membership, technology, or product mix of an industry shifts significantly. The first results of this systematic process were published in July 1986. Subsequent efforts have been completed at 6-month intervals. For information on specific additions, deletions, and recodes of indexes that are effective this month, see the January 2001 issue of the PPI Detailed Report or contact the Section of Index Analysis and Public Information at (202) 6917705. Also with the January data release, 17 retail trade industries and 1 financial services industry were introduced into the PPI for the first time. The introduction of these industries is part of an ongoing effort to expand PPI coverage to sectors of the economy other than mining and manufacturing. Indexes for these industries appear in table 5 of the PPI Detailed Report. Standard Industrial Classification (SIC) Code Industry 1099 Metal ores, not elsewhere classified 1429 Crushed and broken stone, not elsewhere classified 2015 Poultry and egg processing 2032 Canned specialties 2035 Pickled fruits and vegetables, vegetable sauces and seasonings, and salad dressings 2043 Cereal breakfast foods 2068 Salted and roasted nuts and seeds 2086 Bottled and canned soft drinks and carbonated waters 2087 Flavoring extracts and flavoring syrups, not elsewhere classified 2095 Coffee 2281 Spun yarn 2282 Texturing, throwing, and winding mill products: cotton, manmade fibers, silk, and wool 2284 Thread mills 2842 Specialty cleaning, polishing, and sanitation preparations 3291 3299 3421 3441 3449 3519 3545 3548 3569 3599 3635 3639 3661 3699 3713 3799 3825 3914 3991 4215 4225 4311 4522 5912* 5921* 5941* 5942* 5943* 5944* 5945* 5946* 5947* 5948* 5949* 5961* 5962* 598* 5992* 5995* 5999* 6211* 8062 8063 8069 Abrasive products Nonmetallic mineral products, not elsewhere classified Cutlery Fabricated structural metal Miscellaneous structural metal work Internal combustion engines, not elsewhere classified Machine tool accessories Gas and electric welding and soldering equipment General industrial machinery, not elsewhere classified Machinery, except electrical, not elsewhere classified Household vacuum cleaners Household appliances, not elsewhere classified Telephone and telegraph apparatus Electronic and electrical equipment and supplies, not elsewhere classified Truck and bus bodies Transportation equipment, not elsewhere classified Electrical measuring and integrating instruments Silverware, plated ware, and stainless steel ware Brooms and brushes Courier services, except by air General warehousing and storage Unites States Postal Service Air transportation, nonscheduled Drug stores and proprietary stores Liquor stores Sporting goods stores Book stores Stationery stores Jewelry stores Hobby, toy, and game shops Camera and photographic supply stores Gift, novelty, and souvenir shops Luggage and leather goods stores Sewing, needlework, and piece goods stores Catalog and mail-order houses Automatic merchandising machine operators Fuel dealers Florists Optical goods stores Miscellaneous retail stores, not elsewhere classified Security brokers, dealers, and investment banking companies General medical and surgical hospitals Psychiatric hospitals Specialty hospitals, except psychiatric 8082 Home health care services * For further discussion of the new retail trade and financial services indexes, see "New Retail Trade Industries in the PPI-SIC 59" and "New Producer Price Index for Security Brokers, Dealers, and Investment Banking Companies-SIC 6211" in the January 2001 issue of the PPI Detailed Report or call the Section of Index Analysis and Public Information at (202) 6917705. 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| |Jan. 2001 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | Sept. |Dec. |Jan. | Jan. | Dec. |Oct. to|Nov. to |Dec. to | 2000 1/|2000 2/|2000 2/|2001 2/| 2000 | 2000 | Nov. | Dec. | Jan. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 139.4 139.7 141.2 4.8 1.1 0.1 0.2 1.1 Finished consumer goods........................| 76.120 140.1 140.1 141.9 6.0 1.3 .2 .2 1.4 Finished consumer foods......................| 22.499 137.4 137.9 138.4 2.5 .4 .3 -.4 .8 Crude......................................| 1.542 125.3 124.7 130.5 10.7 4.7 .9 -8.7 7.3 Processed..................................| 20.957 138.3 138.9 139.0 1.9 .1 .2 .4 .3 Finished consumer goods, excluding foods.....| 53.620 141.1 140.8 143.3 7.5 1.8 .2 .4 1.8 Nondurable goods less foods................| 38.181 143.0 141.5 144.9 10.3 2.4 .3 .4 2.3 Durable goods..............................| 15.440 132.5 135.3 135.2 .8 -.1 .1 .3 .2 Capital equipment..............................| 23.880 138.6 139.9 140.2 1.3 .2 0 .1 .3 Manufacturing industries.....................| 6.280 139.6 139.9 140.3 .9 .3 .1 0 .2 Nonmanufacturing industries..................| 17.600 138.1 139.8 140.1 1.4 .2 0 .1 .4 | Intermediate materials, supplies, and components.| 100.000 131.1 130.6 131.5 4.4 .7 -.2 .4 .7 Materials and components for manufacturing.....| 45.394 128.5 128.1 128.6 1.7 .4 -.2 0 .4 Materials for food manufacturing.............| 3.220 119.0 119.8 120.4 2.4 .5 -.2 .8 .8 Materials for nondurable manufacturing.......| 15.694 133.6 133.5 135.0 5.0 1.1 0 -.1 1.1 Materials for durable manufacturing..........| 9.899 129.3 128.0 127.2 -1.1 -.6 -1.1 .2 -.7 Components for manufacturing.................| 16.581 126.4 126.1 126.4 .4 .2 0 -.1 .1 Materials and components for construction......| 13.213 150.3 149.9 149.6 -.5 -.2 -.2 .1 -.3 Processed fuels and lubricants.................| 15.680 110.5 108.3 111.4 21.7 2.9 .4 1.5 3.2 Manufacturing industries ....................| 5.584 107.1 107.7 111.0 20.3 3.1 -.3 2.7 3.1 Nonmanufacturing industries..................| 10.096 111.9 108.2 111.2 22.6 2.8 .6 .8 3.3 Containers.....................................| 3.971 153.3 153.0 153.0 3.9 0 -.1 -.1 0 Supplies.......................................| 21.742 137.4 138.1 138.9 2.7 .6 0 .4 .6 Manufacturing industries.....................| 5.000 144.4 144.7 145.0 2.3 .2 .1 .1 .3 Nonmanufacturing industries..................| 16.742 134.5 135.3 136.2 2.9 .7 0 .4 .6 Feeds......................................| 1.226 93.4 99.3 102.9 13.7 3.6 .7 4.3 3.6 Other supplies.............................| 15.517 139.5 139.7 140.3 2.1 .4 -.1 .1 .4 | Crude materials for further processing...........| 100.000 126.0 136.2 155.0 46.5 13.8 -2.0 8.5 13.9 Foodstuffs and feedstuffs......................| 31.781 97.6 103.9 105.3 9.1 1.3 1.3 3.4 2.2 Nonfood materials..............................| 68.219 141.0 153.5 183.5 69.4 19.5 -3.6 11.1 19.4 Nonfood materials except fuel 3/.............| 30.839 125.0 116.0 110.4 -1.0 -4.8 2.3 -5.6 -5.0 Manufacturing 3/...........................| 29.876 115.4 106.9 101.6 -.6 -5.0 2.4 -5.8 -5.1 Construction...............................| 0.963 185.3 182.7 183.4 -10.0 .4 -.6 -.3 .3 Crude fuel 4/................................| 37.380 151.7 192.6 269.0 181.7 39.7 -9.7 30.2 39.7 Manufacturing industries...................| 3.190 152.4 193.7 273.3 188.9 41.1 -9.7 30.2 41.1 Nonmanufacturing industries................| 34.190 154.4 195.9 273.3 181.2 39.5 -9.7 30.3 39.5 | Special groupings | | Finished goods, excluding foods..................|5/ 77.501 139.9 140.1 141.9 5.5 1.3 .2 .3 1.3 Intermediate materials less foods and feeds......|6/ 95.554 132.2 131.5 132.4 4.4 .7 -.1 .2 .8 Intermediate foods and feeds.....................|6/ 4.446 111.1 113.5 115.1 5.3 1.4 .1 1.7 1.7 Crude materials less agricultural products 3/ 7/.|8/ 66.283 142.7 155.5 186.9 71.6 20.2 -3.8 11.3 20.1 | Finished energy goods............................|5/ 15.572 100.6 97.9 101.9 21.6 4.1 .8 .8 3.8 Finished goods less energy.......................|5/ 84.428 144.8 145.9 146.7 2.2 .5 .1 0 .7 Finished consumer goods less energy..............|5/ 60.548 147.5 148.5 149.4 2.5 .6 .1 0 .8 | Finished goods less foods and energy.............|5/ 61.929 147.8 149.1 150.0 2.0 .6 0 .1 .7 Finished consumer goods less foods and energy....|5/ 38.049 154.0 155.3 156.5 2.4 .8 0 .2 .8 Consumer nondurable goods less foods and energy..|5/ 22.609 170.9 171.0 173.2 3.5 1.3 -.1 .1 1.2 | Intermediate energy goods........................|6/ 15.800 110.1 107.9 110.9 21.6 2.8 .3 1.5 3.1 Intermediate materials less energy...............|6/ 84.200 135.4 135.3 135.8 1.7 .4 -.2 .1 .3 Intermediate materials less foods and energy.....|6/ 79.754 137.0 136.8 137.1 1.5 .2 -.1 0 .2 | Crude energy materials 3/........................|8/ 52.860 136.7 154.7 193.4 110.2 25.0 -4.1 14.8 25.0 Crude materials less energy......................|8/ 47.141 109.2 112.4 113.7 3.2 1.2 .1 2.3 1.7 Crude nonfood materials less energy 4/...........|8/ 15.359 142.9 137.5 138.7 -7.4 .9 -2.3 .3 .5 | _______________________________________________________________________________________________________________________________ 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 3/ 4/ 5/ Includes crude petroleum. Excludes crude petroleum. Percent of total finished goods. and final December relative importances initially appear, respectively, in the release tables containing January and May data. The indexes for September 2000 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. 6/ 7/ 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 | | |Jan. 2001 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Sept. |Dec. |Jan. | Jan. | Dec. |Oct. to|Nov. to|Dec. to | |2000 1/|2000 1/|2001 1/| 2000 | 2000 | Nov. | Dec. | Jan. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 139.4 139.7 141.2 4.8 1.1 0.1 0.2 1.1 | FINISHED CONSUMER GOODS...............................| 140.1 140.1 141.9 6.0 1.3 .2 .2 1.4 | FINISHED CONSUMER FOODS..............................| 137.4 137.9 138.4 2.5 .4 .3 -.4 .8 | | 01-11 | Fresh fruits and melons 2/..........................| 92.3 92.5 96.5 3.2 4.3 -3.3 2.0 4.3 01-13 | Fresh and dry vegetables 2/.........................| 138.0 110.8 128.8 11.7 16.2 4.0 -26.0 16.2 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 77.7 109.3 95.7 18.0 -12.4 -3.1 6.6 -3.2 02-11 | Bakery products 2/..................................| 183.2 184.6 185.0 2.8 .2 .5 -.2 .2 02-13 | Milled rice 2/......................................| 101.2 95.0 94.5 -10.3 -.5 1.2 -.1 -.5 02-14-02 | Pasta products (June 1985=100) 2/...................| 121.5 121.5 121.7 -.1 .2 0 0 .2 02-21-01 | Beef and veal.......................................| 110.0 118.9 121.9 13.6 2.5 .8 3.5 3.4 02-21-04 | Pork................................................| 110.1 109.1 104.9 -1.0 -3.8 1.7 .4 -2.6 02-22-03 | Processed young chickens............................| 116.1 110.5 106.3 -1.8 -3.8 .2 -1.2 -2.4 02-22-06 | Processed turkeys...................................| 102.2 102.6 92.8 -2.9 -9.6 -.4 -.9 -2.9 02-23 | Finfish and shellfish...............................| 190.3 192.5 193.1 -1.5 .3 -2.3 1.3 .2 02-3 | Dairy products......................................| 135.6 136.8 136.8 4.1 0 1.3 2.0 1.6 02-4 | Processed fruits and vegetables 2/..................| 128.1 127.4 127.6 -1.2 .2 -.4 -.2 .2 02-55 | Confectionery end products 2/.......................| 170.6 170.5 170.6 .2 .1 -.2 -.3 .1 02-62 | Soft drinks.........................................| 144.2 144.3 146.6 3.5 1.6 .5 0 .6 02-63-01 | Roasted coffee 2/...................................| 130.3 126.3 126.2 -9.4 -.1 -3.2 0 -.1 02-78 | Shortening and cooking oils 2/......................| 131.8 132.4 129.6 -2.5 -2.1 1.8 -.5 -2.1 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 141.1 140.8 143.3 7.5 1.8 .2 .4 1.8 | | 02-61 | Alcoholic beverages.................................| 142.1 143.5 143.4 4.4 -.1 -.6 1.1 -.1 03-81-01 | Women's apparel 2/..................................| 124.8 123.4 123.3 -1.0 -.1 -.4 .1 -.1 03-81-02 | Men's and boys' apparel.............................| 03-81-03 | Girls', children's, and infants' apparel 2/.........| 03-82 | Textile housefurnishings 2/.........................| 04-3 | Footwear 2/.........................................| 05-41 | Residential electric power (Dec. 1990=100)..........| 05-51 | Residential gas (Dec. 1990=100).....................| 05-71 | Gasoline............................................| 05-73-02-01| Fuel oil No. 2......................................| 06-35 | Pharmaceutical preps, ethical (Prescription) 2/.....| 06-36 | Pharmaceutical preps,proprietary (Over-counter) 2/..| 06-71 | Soaps and synthetic detergents 2/...................| 06-75 | Cosmetics and other toilet preparations 2/..........| 07-12 | Tires, tubes, tread, etc 2/.........................| 09-15-01 | Sanitary papers and health products 2/..............| 09-31-01 | Newspaper circulation 2/............................| 09-32-01 | Periodical circulation..............................| 09-33 | Book publishing.....................................| 12-1 | Household furniture 2/..............................| 12-3 | Floor coverings 2/..................................| 12-4 | Household appliances ...............................| 12-5 | Home electronic equipment 2/........................| 12-62 | Household glassware.................................| 12-64 | Household flatware 2/...............................| 12-66 | Lawn and garden equip., ex. tractors 2/.............| 14-11-01 | Passenger cars......................................| 15-11 | Toys, games, and children's vehicles 2/.............| 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. 1998=100) 2/.............| 11-62 | Textile machinery 2/................................| 11-64 | Paper industries machinery (June 1982=100)..........| 11-65 | Printing trades machinery 2/........................| 133.2 116.8 121.8 145.1 115.6 143.9 104.2 110.8 346.6 188.3 129.3 138.4 92.9 147.9 209.3 198.4 217.6 153.1 129.4 106.3 71.2 165.8 144.8 132.4 128.9 122.0 125.9 402.9 162.0 127.2 142.3 133.2 118.4 121.3 145.5 110.7 167.0 89.6 102.9 348.7 187.0 130.2 138.5 93.3 145.4 215.1 199.4 222.6 153.8 132.7 106.7 71.3 167.8 148.8 131.6 134.9 122.1 125.2 404.2 162.1 127.5 142.3 133.2 116.6 121.5 144.9 112.1 185.7 92.9 96.6 350.5 186.6 130.6 138.9 93.1 148.0 214.5 199.3 223.0 154.0 131.6 106.4 71.1 168.8 148.8 132.5 135.4 122.2 125.3 426.7 162.2 127.2 142.3 .2 -.5 -.2 .1 4.8 57.0 21.8 28.5 2.8 -.2 2.7 1.8 -.1 2.9 3.5 .8 3.9 1.7 3.5 -1.6 -2.2 2.7 6.3 .2 .4 .6 -.6 12.7 1.2 .4 1.4 0 -1.5 .2 -.4 1.3 11.2 3.7 -6.1 .5 -.2 .3 .3 -.2 1.8 -.3 -.1 .2 .1 -.8 -.3 -.3 .6 0 .7 .4 .1 .1 5.6 .1 -.2 0 138.6 139.9 140.2 1.3 .2 154.0 148.9 162.1 163.0 140.9 154.8 135.3 70.6 156.5 164.8 142.8 153.4 148.9 162.3 162.7 141.2 154.9 135.5 68.7 157.2 164.8 143.8 153.3 149.1 162.4 162.2 141.9 155.9 136.2 65.0 157.0 164.9 143.6 .3 .6 .6 1.3 .9 2.0 2.1 -16.2 1.4 .9 1.6 -.1 .1 .1 -.3 .5 .6 .5 -5.4 -.1 .1 -.1 .2 1.5 .2 0 -.6 .7 3.2 -3.0 -1.6 0 -.3 .9 .4 -1.2 2.9 -.1 .1 .1 .5 -.3 .1 .3 2.2 -.5 0 -.1 -.4 0 .1 .1 .2 0 .1 .1 -.1 0 .1 .1 .1 -.3 .1 -.1 0 -.1 0 0 .3 1.3 6.5 -2.6 -.3 .6 -.1 .2 0 -.1 -.7 .1 .3 1.2 .1 1.8 0 0 .2 .5 -.1 .2 0 -.2 .1 -.1 .2 0 -.2 -1.5 .2 -.4 1.4 11.3 1.6 -3.6 .5 -.2 .3 .3 -.2 1.8 -.3 -.5 .6 .1 -.8 -.3 -.3 .6 0 .7 1.2 .1 .1 5.6 .1 -.2 0 .1 .3 .2 0 0 -.2 -.1 .1 .1 -2.0 .4 0 .4 -.1 -.4 .1 -.3 .5 .3 .5 -5.4 -.1 -.1 -.1 11-74 11-76 11-79-05 11-91 11-92 11-93 12-2 14-11-05 14-11-06 14-14 14-21-02 14-31 14-4 | Transformers and power regulators 2/................| 135.9 134.6 135.4 .5 .6 -1.2 .1 .6 | Communication & related equip. (Dec. 1985=100) 2/...| 110.5 110.5 110.4 -.9 -.1 -.1 0 -.1 | X-ray and electromedical equipment 2/...............| 101.0 100.0 100.3 -2.5 .3 -.9 -1.4 .3 | Oil field and gas field machinery ..................| 128.1 129.8 129.7 2.2 -.1 -.1 .2 -.4 | Mining machinery and equipment 2/...................| 146.5 146.7 147.4 1.5 .5 0 .1 .5 | Office and store machines and equipment 2/..........| 113.6 113.7 113.6 1.0 -.1 -.4 .3 -.1 | Commercial furniture 2/.............................| 158.7 158.8 159.5 1.3 .4 .1 .1 .4 | Light motor trucks..................................| 153.9 161.0 160.3 1.8 -.4 .1 .6 .3 | Heavy motor trucks 2/...............................| 148.2 148.5 149.3 1.2 .5 -.1 -.1 .5 | Truck trailers 2/...................................| 140.6 139.5 139.5 .9 0 .1 -.8 0 | Civilian aircraft (Dec. 1985=100)...................| 161.9 164.3 165.4 6.8 .7 .2 .5 .6 | Ships (Dec. 1985=100) 2/............................| 146.5 146.5 148.5 1.9 1.4 0 0 1.4 | Railroad equipment 2/...............................| 135.9 135.8 135.8 .4 0 -.1 0 0 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 131.1 130.6 131.5 4.4 .7 -.2 .4 .7 | | | INTERMEDIATE FOODS AND FEEDS..........................| 111.1 113.5 115.1 5.3 1.4 .1 1.7 1.7 | | 02-12-03 | Flour 2/............................................| 103.6 106.1 107.5 5.0 1.3 -1.3 -1.0 1.3 02-53 | Refined sugar 2/....................................| 108.7 106.0 107.7 -8.1 1.6 1.0 0 1.6 02-54 | Confectionery materials.............................| 93.9 93.5 101.3 6.4 8.3 -.3 .1 8.1 02-72 | Crude vegetable oils 2/.............................| 70.0 63.8 61.1 -20.4 -4.2 -8.1 -3.2 -4.2 02-9 | Prepared animal feeds 2/............................| 102.0 107.1 110.3 11.2 3.0 .5 3.5 3.0 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 132.2 131.5 132.4 4.4 .7 -.1 .2 .8 | | 03-1 | Synthetic fibers 2/.................................| 108.3 110.5 109.2 5.7 -1.2 2.0 0 -1.2 03-2 | Processed yarns and threads 2/......................| 107.7 107.8 108.5 .5 .6 .3 -.3 .6 03-3 | Gray fabrics 2/.....................................| 113.1 115.0 115.3 2.1 .3 1.5 .2 .3 03-4 | Finished fabrics....................................| 123.0 122.8 121.8 -.2 -.8 .2 .2 -.8 03-83-03 | Industrial textile products 2/......................| 131.5 131.4 131.8 1.5 .3 -.1 -.3 .3 04-2 | Leather 2/..........................................| 184.8 187.7 191.7 7.0 2.1 -.1 1.7 2.1 05-32 | Liquefied petroleum gas 2/..........................| 131.4 150.5 173.5 71.6 15.3 2.9 .1 15.3 ____________________________________________________________________________________________________________________________________ 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 | | |Jan. 2001 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Sept. |Dec. |Jan. | Jan. | Dec. |Oct. to|Nov. to|Dec. to | |2000 1/|2000 1/|2001 1/| 2000 | 2000 | Nov. | Dec. | Jan. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 139.6 131.3 135.5 7.8 3.2 0.2 0.5 3.9 05-43 | Industrial electric power...........................| 137.8 132.6 136.9 8.0 3.2 .2 1.3 3.1 05-52 | Commercial natural gas (Dec. 1990=100)..............| 144.6 170.6 203.1 76.0 19.1 .6 5.4 21.1 05-53 | Industrial natural gas (Dec. 1990=100)..............| 148.2 223.8 242.4 116.4 8.3 -4.2 31.5 10.3 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 125.0 180.7 293.2 192.9 62.3 -2.5 24.6 64.4 05-72-03 | Jet fuels...........................................| 103.7 103.1 88.3 15.9 -14.4 -1.2 3.0 -12.9 05-73-03 | No. 2 Diesel fuel...................................| 110.8 104.7 96.6 26.9 -7.7 .8 1.0 -5.4 05-74 | Residual fuel 2/....................................| 89.3 88.9 85.2 17.2 -4.2 -3.3 -7.0 -4.2 06-1 | Industrial chemicals 2/.............................| 130.4 130.2 132.9 6.7 2.1 -.6 .5 2.1 06-21 | Prepared paint......................................| 160.8 161.6 162.2 1.4 .4 .3 -.3 .1 06-22 | Paint materials 2/..................................| 149.3 150.1 151.7 5.4 1.1 1.2 .8 1.1 06-31 | Medicinal and botanical chemicals 2/................| 145.8 145.8 144.3 -1.9 -1.0 0 0 -1.0 06-4 | Fats and oils, inedible 2/..........................| 63.9 67.4 78.6 -9.9 16.6 -2.9 6.3 16.6 06-51 | Mixed fertilizers...................................| 112.7 113.4 116.1 3.8 2.4 .4 .7 1.6 06-52-01 | Nitrogenates........................................| 125.3 141.2 176.9 73.9 25.3 2.6 4.7 24.1 06-52-02 | Phosphates 2/.......................................| 95.2 96.7 95.1 -8.5 -1.7 -1.0 1.5 -1.7 06-53 | Other agricultural chemicals 2/.....................| 146.7 146.3 153.3 5.9 4.8 -1.2 1.0 4.8 06-6 | Plastic resins and materials 2/.....................| 142.4 136.4 139.5 4.7 2.3 -1.2 -2.8 2.3 07-11-02 | Synthetic rubber 2/.................................| 122.6 123.8 122.6 5.5 -1.0 1.1 1.0 -1.0 07-21 | Plastic construction products ......................| 136.8 134.5 134.0 1.3 -.4 -.1 0 0 07-22 | Unsupported plastic film, sheet, & other shapes 2/..| 131.5 131.1 132.5 1.5 1.1 -.5 .2 1.1 07-26 | Plastic parts and components for manufacturing 2/...| 117.9 117.8 118.7 1.5 .8 0 .1 .8 08-11 | Softwood lumber 2/..................................| 167.5 165.2 160.4 -17.7 -2.9 -1.4 .1 -2.9 08-12 | Hardwood lumber ....................................| 186.8 185.8 186.8 2.1 .5 -.3 -.6 .4 08-2 | Millwork 2/.........................................| 176.2 176.2 176.7 .5 .3 -.1 0 .3 08-3 | Plywood 2/..........................................| 156.4 151.0 146.8 -9.4 -2.8 -3.4 -1.0 -2.8 09-11 | Woodpulp 2/.........................................| 150.2 149.9 144.8 5.5 -3.4 1.7 -2.4 -3.4 09-13 | Paper 2/............................................| 150.9 151.4 152.0 4.0 .4 .1 -.5 .4 09-14 | Paperboard 2/.......................................| 180.9 179.4 179.3 9.9 -.1 .3 -.4 -.1 09-15-03 | Paper boxes and containers 2/.......................| 175.2 175.6 175.3 5.9 -.2 -.1 -.1 -.2 09-2 | Building paper and board 2/.........................| 132.3 129.5 126.7 -11.2 -2.2 -.2 -1.3 -2.2 09-37 | Commercial printing (June 1982=100) 2/..............| 156.4 157.0 157.0 2.7 0 .2 0 0 10-15 | Foundry and forge shop products.....................| 136.4 136.7 137.1 1.0 .3 0 -.1 0 10-17 | Steel mill products 2/..............................| 108.6 106.6 104.8 -2.3 -1.7 -1.6 0 -1.7 10-22 | Primary nonferrous metals 2/........................| 117.3 113.7 113.2 -1.7 -.4 -4.8 2.6 -.4 10-25-01 | Aluminum mill shapes 2/.............................| 150.5 151.1 149.8 3.5 -.9 -1.1 1.3 -.9 10-25-02 | Copper and brass mill shapes 2/.....................| 165.5 166.8 164.3 1.3 -1.5 -2.5 1.5 -1.5 10-26 | Nonferrous wire and cable 2/........................| 145.1 145.7 144.8 3.2 -.6 .2 -.3 -.6 10-3 | Metal containers 2/.................................| 107.4 106.0 105.8 -.1 -.2 -1.0 -.2 -.2 10-4 10-5 10-6 10-7 10-88 10-89 11-45 11-48 11-49-02 11-49-05 11-71 11-73 11-75 11-78 11-94 11-95 13-11 13-22 13-3 13-6 13-7 13-8 14-12 14-23 14-25 15-42 15-6 | 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/.....| | Ball and roller bearings............................| | Wiring devices 2/...................................| | 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 2/................................| | Asphalt felts and coatings..........................| | 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).....| | Photographic supplies 2/............................| | Medical/surgical/personal aid devices 2/............| | | | 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/...................................| | | | 151.6 180.7 156.1 144.8 129.9 126.2 164.0 135.3 162.3 169.8 152.4 146.4 153.3 97.5 144.2 138.3 111.4 150.1 149.4 104.6 187.2 127.5 113.5 141.0 146.6 125.9 146.2 151.9 180.2 156.2 144.8 130.0 126.0 165.8 135.0 163.3 170.0 153.5 146.5 153.6 96.3 144.1 139.4 111.4 150.1 149.1 105.6 165.4 127.4 113.0 141.2 145.1 126.3 146.9 152.3 180.0 157.3 144.9 130.2 126.5 166.0 134.9 163.6 170.5 153.8 146.7 153.6 96.4 144.0 139.4 111.9 149.1 148.8 104.6 156.0 129.9 113.0 141.3 146.2 126.3 147.7 1.5 .8 2.1 0 0 .6 1.9 .1 1.7 1.8 .5 .4 .9 -.8 .4 2.0 3.9 -1.0 2.1 3.9 -31.5 2.0 -.9 .4 1.2 1.5 1.6 .3 -.1 .7 .1 .2 .4 .1 -.1 .2 .3 .2 .1 0 .1 -.1 0 .4 -.7 -.2 -.9 -5.7 2.0 0 .1 .8 0 .5 .1 -.2 .1 -.1 -.2 0 .1 0 .2 .2 .5 .1 -.5 -.3 .2 .7 -.3 .1 -.1 -.6 -3.6 -.1 0 .4 0 .5 0 .1 .1 .1 .1 -.2 .1 .7 0 0 0 .3 .1 .5 -.7 .1 .4 .3 .3 0 1.0 -2.9 0 0 -.1 .2 -.1 .2 .2 -.2 .8 -.1 .2 .4 -.4 -.1 .2 .1 .2 -.1 -.2 .1 -.3 0 .4 -.7 -.2 -.8 -5.7 2.0 0 -.9 .1 0 .5 126.0 136.2 155.0 46.5 13.8 -2.0 8.5 13.9 97.6 103.9 105.3 9.1 1.3 1.3 3.4 2.2 77.7 65.5 97.3 71.1 135.8 133.3 96.1 82.8 99.9 84.3 78.9 111.6 70.0 132.5 124.1 96.6 84.1 109.3 89.1 85.3 114.4 62.7 132.4 101.7 100.2 82.8 112.2 15.1 10.6 11.9 2.8 2.4 -1.5 12.0 4.0 15.1 5.7 8.1 2.5 -10.4 -.1 -18.0 3.7 -1.5 2.7 2.1 2.8 5.6 -5.2 1.3 .8 -3.0 -.4 2.2 -3.1 -.1 5.5 7.5 2.3 -1.1 8.5 6.3 -4.0 5.7 7.0 2.5 -4.2 .3 .6 9.9 -1.5 2.7 | CRUDE NONFOOD MATERIALS..............................| 141.0 | 153.5 183.5 69.4 19.5 -3.6 11.1 19.4 01-51-01-01| Raw cotton..........................................| 100.7 101.8 94.1 10.7 -7.6 1.9 2.5 -8.8 01-92-01-01| Leaf tobacco 2/.....................................| 107.0 115.8 119.9 6.8 3.5 -2.0 11.0 3.5 04-11 | Cattle hides 2/.....................................| 177.0 188.3 191.9 22.5 1.9 -3.8 2.3 1.9 05-1 | Coal 2/.............................................| 86.3 88.0 85.4 -3.5 -3.0 -1.2 3.0 -3.0 05-31 | Natural gas 2/......................................| 176.8 232.5 339.5 246.4 46.0 -11.1 35.3 46.0 05-61 | Crude petroleum 2/..................................| 97.4 87.0 77.8 7.8 -10.6 7.1 -11.1 -10.6 08-5 | Logs, timber, etc...................................| 187.4 185.5 186.4 -10.7 .5 -.6 -.2 -1.0 09-12 | Wastepaper 2/.......................................| 239.7 197.7 186.5 -30.7 -5.7 -5.2 -8.4 -5.7 10-11 | Iron ore 2/.........................................| 94.9 94.9 95.9 1.6 1.1 0 0 1.1 10-12 | Iron and steel scrap 2/.............................| 135.6 118.0 127.8 -24.6 8.3 -8.2 .2 8.3 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 69.8 67.6 67.5 -.7 -.1 -3.9 1.7 -.1 10-23-01 | Copper base scrap 2/................................| 128.9 127.3 128.5 5.9 .9 -3.2 1.8 .9 10-23-02 | Aluminum base scrap.................................| 177.5 162.8 165.6 -11.1 1.7 -3.4 -2.5 .7 13-21 | Construction sand, gravel, and crushed stone........| 164.4 164.1 165.8 3.7 1.0 .2 -.1 .5 ____________________________________________________________________________________________________________________________________ 1/ The indexes for September 2000 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. 2/ 3/ Not seasonally adjusted. Not available. Table 3. Producer price indexes for selected commodity groupings (1982=100 unless otherwise indicated) _______________________________________________________________________________________________ | | | | | Unadjusted index 1/ | Commodity| |___________________________________| code | Grouping |Sept. 2000 | Dec. 2000 | Jan. 2001 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 391.2 | 392.0 | 396.2 | | All commodities................................| 134.7 | 135.7 | 138.8 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 121.4 | 123.9 | 124.8 | 01 | Farm products................................| 98.0 | 103.3 | 104.8 | 02 | Processed foods and feeds....................| 132.9 | 134.1 | 134.6 | | | | | | | Industrial commodities.........................| 137.3 | 138.0 | 141.5 | 03 | Textile products and apparel.................| 121.6 | 121.8 | 121.6 | 04 | Hides, skins, leather, and related products..| 153.3 | 155.5 | 156.7 | 05 | Fuels and related products and power 2/......| 112.7 | 114.8 | 126.5 | 06 | Chemicals and allied products 2/.............| 151.9 | 151.7 | 154.1 | 07 | Rubber and plastic products..................| 126.4 | 126.1 | 127.1 | 08 09 10 11 12 13 14 15 01-1 01-2 01-3 01-4 01-5 01-7 01-8 01-83 01-9 02-1 02-2 02-22 02-5 02-6 02-63 02-7 03-81 04-4 05-3 05-4 05-7 06-3 06-5 06-7 07-1 07-11 07-13 07-2 08-1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Lumber and wood products.....................| Pulp, paper, and allied products.............| Metals and metal products....................| Machinery and equipment......................| Furniture and household durables.............| Nonmetallic mineral products.................| Transportation equipment.....................| Miscellaneous products.......................| | Industrial commodities less fuels and related | products and power...........................| | | OTHER COMMODITY GROUPINGS | | Fruits and melons, fresh and dry vegetables, | and tree nuts................................| Grains.........................................| Slaughter livestock............................| Slaughter poultry..............................| Plant and animal fibers........................| Chicken eggs...................................| Hay, hayseeds, and oilseeds....................| Oilseeds.......................................| Other farm products............................| Cereal and bakery products.....................| Meats, poultry, and fish.......................| Processed poultry..............................| Sugar and confectionery........................| Beverages and beverage materials...............| Packaged beverage materials....................| Fats and oils..................................| Apparel........................................| Other leather and related products.............| Gas fuels 2/...................................| Electric power.................................| 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.........................................| 174.1 184.4 128.4 124.1 132.6 142.8 142.9 172.3 142.7 115.9 70.1 91.1 133.6 99.3 92.4 104.7 92.5 159.6 158.7 119.6 116.6 132.0 143.5 129.2 107.8 127.6 146.4 162.8 137.2 102.5 258.5 125.8 137.9 115.9 122.0 139.2 134.5 171.4 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 172.6 184.5 127.1 124.0 133.2 142.3 145.2 173.3 142.8 106.0 81.2 100.9 129.1 100.2 122.3 107.7 94.7 172.7 159.8 121.3 113.6 131.9 143.8 126.6 107.1 127.1 146.3 208.3 130.9 92.9 259.3 129.7 138.5 116.4 123.2 139.7 133.8 169.5 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 171.5 185.3 127.1 124.0 133.3 142.4 145.6 177.2 143.5 115.5 86.6 100.9 124.3 92.8 108.8 106.8 93.6 178.8 160.4 120.7 109.3 134.3 144.7 126.5 104.9 127.0 146.2 292.3 134.0 91.2 259.6 140.1 139.1 116.3 122.0 140.0 135.3 166.5 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 09-1 | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 162.4 | 160.9 | 160.8 | 09-15 | Converted paper and paperboard products........| 164.5 | 163.9 | 164.7 | 10-1 | Iron and steel.................................| 116.1 | 113.1 | 113.0 | 10-2 | Nonferrous metals..............................| 129.8 | 127.9 | 127.5 | 10-25 | Nonferrous mill shapes.........................| 145.0 | 145.6 | 144.2 | 11-3 | Metalworking machinery and equipment...........| 149.9 | 150.0 | 150.4 | 11-4 | General purpose machinery and equipment........| 151.0 | 151.4 | 151.8 | 11-6 | Special industry machinery.....................| 163.5 | 163.5 | 163.8 | 11-7 | Electrical machinery and equipment.............| 118.9 | 118.4 | 118.4 | 11-9 | Miscellaneous machinery and equipment..........| 134.6 | 135.2 | 135.2 | 12-6 | Other household durable goods..................| 156.1 | 156.5 | 156.8 | 13-2 | Concrete ingredients...........................| 156.4 | 156.2 | 156.9 | 14-1 | Motor vehicles and equipment...................| 130.2 | 133.6 | 133.7 | 15-1 | Toys, sporting goods, small arms, etc..........| 132.4 | 132.1 | 132.4 | 15-4 | Photographic equipment and supplies............| 109.5 | 109.8 | 109.8 | 15-9 | Other miscellaneous products...................| 136.6 | 137.9 | 138.3 | __________________________________________________________|___________|___________|___________| 1/ 2/ Data for September 2000 have been revised to reflect the availability of late reports and corrections by respondents. All data are subject to revision 4 months after original publication. Prices of some items in this grouping are lagged 1 month. Table 4. Producer price indexes for the net output of major industry groups, not seasonally adjusted __________________________________________________________________________________________________________________ | | | Index | Percent change Industry | Industry 1/ |Index|_______________________|to_Jan._2001_from: code | |base | | | | | | | |Sep. |Dec. |Jan. | Jan. | Dec. | | |2000 2/|2000 2/|2001 2/| 2000 | 2000 __________________|______________________________________________|_____|_______|_______|_______|________|_________ | | | |Total mining industries...................... |12/84| 124.7 139.6 170.8 90.8 22.3 10 | Metal mining................................ |12/84| 75.2 73.5 73.5 -.5 0 12 | Coal mining................................. |12/85| 83.5 84.8 83.6 -2.0 -1.4 13 | Oil and gas extraction...................... |12/85| 141.9 162.0 204.4 117.0 26.2 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 138.0 138.2 139.3 3.2 .8 | | | |Total manufacturing industries............... |12/84| 134.7 134.4 134.7 3.0 .2 20 | Food and kindred products................... |12/84| 128.5 129.6 130.1 2.7 .4 21 | Tobacco manufactures........................ |12/84| 351.1 351.8 372.4 13.1 5.9 22 | Textile mill products....................... |12/84| 116.6 117.5 117.4 1.0 -.1 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 125.9 125.9 125.7 .4 -.2 | Lumber and wood products, except furniture.. |12/84| 155.3 154.2 153.2 -5.1 -.6 | Furniture and fixtures...................... |12/84| 143.5 143.8 144.2 1.3 .3 | Paper and allied products................... |12/84| 147.7 147.0 147.4 4.5 .3 | Printing, publishing, and allied industries. |12/84| 183.6 185.1 186.8 3.5 .9 | Chemicals and allied products............... |12/84| 158.3 159.0 160.4 4.4 .9 | Petroleum refining and related products..... |12/84| 125.1 114.4 112.5 19.7 -1.7 | Rubber and miscellaneous plastic products... |12/84| 125.4 124.8 126.0 2.0 1.0 | Leather and leather products................ |12/84| 138.4 138.9 139.1 1.2 .1 | Stone, clay, glass, and concrete products... |12/84| 134.8 134.1 134.4 0 .2 | Primary metal industries.................... |12/84| 120.5 119.2 118.5 -.1 -.6 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 130.5 130.5 130.6 .5 .1 35 | Machinery, except electrical................ |12/84| 117.6 117.7 117.7 .5 0 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 108.1 107.7 107.7 -.9 0 37 | Transportation equipment.................... |12/84| 135.7 138.4 138.7 1.8 .2 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 126.3 126.4 126.9 .7 .4 39 | Miscellaneous manufacturing industries...... |12/85| 131.0 131.3 131.7 .8 .3 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 102.9 103.5 103.9 1.8 0.4 42 | Motor freight transportation and warehousing |06/93| 121.2 121.5 121.9 4.6 .3 43 | United states postal service................ |06/89| 135.2 135.2 141.3 4.5 4.5 44 | Water transportation........................ |12/92| 127.0 126.1 125.8 8.1 -.2 45 | Transportation by air....................... |12/92| 151.5 154.2 154.7 9.7 .3 46 | Pipe lines, except natural gas.............. |12/86| 102.4 102.7 109.1 6.9 6.2 54 | Food stores................................. |12/99| 104.6 104.7 105.4 4.0 .7 59 | Miscellaneous retail........................ |06/00| 99.0 98.3 97.7 (3) -.6 80 | Health services............................. |12/94| 113.4 114.1 114.5 2.5 .4 81 | Legal services.............................. |12/96| 113.8 112.8 114.8 3.4 1.8 __________________________________________________________________________________________________________________ 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 September 2000 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. 3/ Not available. 24 25 26 27 28 29 30 31 32 33 34 Table 5. Producer price indexes by stage of processing, seasonally adjusted (1982=100) _____________________________________________________________________________________________________________ | | Index 1/ |_____________________________________________________ Grouping | | | | | | | Aug. | Sep. | Oct. | Nov. | Dec. | Jan. | 2000 | 2000 | 2000 | 2000 | 2000 | 2001 _______________________________________________________|________|________|________|________|________|________ | Finished goods...................................| 138.0 139.0 139.5 139.7 140.0 141.6 Finished consumer goods........................| 138.1 139.4 140.0 140.3 140.6 142.6 Finished consumer foods......................| 136.7 137.0 137.9 138.3 137.8 138.9 Crude......................................| 119.9 124.8 132.1 133.3 121.7 130.6 Processed..................................| 138.1 137.9 138.3 138.6 139.1 139.5 Finished consumer goods, excluding foods.....| 138.6 140.2 140.7 141.0 141.5 144.0 Nondurable goods less foods................| 138.8 141.0 141.9 142.3 142.9 146.2 Durable goods..............................| 134.0 134.3 133.9 134.0 134.4 134.7 Capital equipment..............................| 139.1 139.4 139.3 139.3 139.5 139.9 Manufacturing industries.....................| 139.6 139.7 139.8 139.9 139.9 140.2 Nonmanufacturing industries..................| 138.8 139.2 139.1 139.1 139.3 139.8 | Intermediate materials, supplies, and components.| 129.4 130.4 130.6 130.4 130.9 131.8 Materials and components for manufacturing.....| 128.5 128.5 128.5 128.2 128.2 128.7 Materials for food manufacturing.............| 118.8 118.6 119.2 119.0 119.9 120.9 Materials for nondurable manufacturing.......| 134.0 133.7 133.8 133.8 133.6 135.1 Materials for durable manufacturing..........| 129.0 129.3 129.2 127.8 128.1 127.2 Components for manufacturing.................| 126.4 126.5 126.3 126.3 126.2 126.3 Materials and components for construction......| 150.3 150.3 150.3 150.0 150.1 149.7 Processed fuels and lubricants.................| 102.1 106.6 107.5 107.9 109.5 113.0 Manufacturing industries ....................| 101.7 104.1 106.2 105.9 108.8 112.2 Nonmanufacturing industries..................| 102.1 107.6 108.0 108.6 109.5 113.1 Containers.....................................| 152.9 153.2 153.3 153.1 153.0 153.0 Supplies.......................................| 137.0 137.4 137.6 137.6 138.1 138.9 Manufacturing industries.....................| 144.1 144.3 144.3 144.5 144.6 145.0 Nonmanufacturing industries..................| 134.1 134.5 134.7 134.7 135.3 136.1 Feeds......................................| 90.7 93.4 94.5 95.2 99.3 102.9 Other supplies.............................| 139.3 139.5 139.6 139.5 139.7 140.2 | Crude materials for further processing...........| 117.6 126.0 128.9 126.3 137.0 156.1 Foodstuffs and feedstuffs......................| 94.1 97.7 100.7 102.0 105.5 107.8 Nonfood materials..............................| 129.6 140.9 143.6 138.4 153.8 183.7 Nonfood materials except fuel 2/.............| 119.1 124.8 120.6 123.4 116.5 110.7 Manufacturing 2/...........................| 109.8 115.3 111.3 114.0 107.4 101.9 Construction...............................| 185.3 185.3 184.6 183.5 182.9 183.5 Crude fuel 3/................................| 133.6 151.7 163.7 147.9 192.6 269.0 Manufacturing industries...................| 133.9 152.4 164.7 148.8 193.7 273.3 Nonmanufacturing industries................| 136.0 154.4 166.5 150.4 195.9 273.3 | Special groupings | | Finished goods, excluding foods..................| 138.3 139.5 139.8 140.1 140.5 142.3 Intermediate materials less foods and feeds......| 130.5 131.4 131.6 131.5 131.8 132.8 Intermediate foods and feeds.....................| 110.2 110.9 111.6 111.7 113.6 115.5 Crude materials less agricultural products 2/....| 131.0 142.6 145.4 139.9 155.7 187.0 | Finished energy goods............................| 93.9 97.1 98.7 99.5 100.3 104.1 Finished goods less energy.......................| 145.0 145.3 145.5 145.6 145.6 146.6 Finished consumer goods less energy..............| 147.4 147.8 148.0 148.2 148.2 149.4 | Finished goods less foods and energy.............| 148.3 148.7 148.5 148.5 148.7 149.7 Finished consumer goods less foods and energy....| 154.4 154.8 154.6 154.6 154.9 156.2 Consumer nondurable goods less foods and energy..| 170.4 171.0 170.9 170.8 171.0 173.1 | Intermediate energy goods........................| 101.9 106.3 107.2 107.5 109.1 112.5 Intermediate materials less energy...............| 135.3 135.4 135.5 135.2 135.4 135.8 Intermediate materials less foods and energy.....| 137.0 137.0 137.0 136.8 136.8 137.1 | Crude energy materials 2/........................| 122.4 136.7 140.5 134.8 154.7 193.4 Crude materials less energy......................| 106.3 109.1 111.1 111.2 113.8 115.7 Crude nonfood materials less energy 3/...........| 141.3 142.5 141.6 138.3 138.7 139.4 _____________________________________________________________________________________________________________ 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 September 2000 have been recalculated to incorporate late reports and corrections by respondents. Includes crude petroleum. Excludes crude petroleum. Technical Notes Brief Explanation of Producer Price Indexes The term Producer Price Index (PPI) refers to a family of indexes that measure the average change over time in the selling prices received by domestic producers of goods and services. PPIs measure price change from the perspective of the seller. This contrasts with other measures, such as the Consumer Price Index (CPI); CPIs measure price change from the purchaser's perspective. Sellers' and purchasers' prices may differ due to government subsidies, sales and excise taxes, and distribution costs. More than 10,000 PPIs for individual products and groups of products are released each month. PPIs are available for the products of virtually every industry in the mining and manufacturing sectors of the U.S. economy. New PPIs are gradually being introduced for the products of industries in the transportation, utilities, trade, finance, and services sectors of the economy. More than 100,000 price quotations per month are organized into three sets of producer price indexes: (1) Stage of processing indexes; (2) commodity indexes; and (3) indexes for the net output of industries and their products. The stage-of-processing structure (tables 1, 2, and 5) organizes products by class of buyer and degree of fabrication. The commodity structure (tables 2 and 3) organizes products by similarity of end-use or material composition. The entire output of various industries is sampled to derive price indexes for the net output of industries and their products (table 4). Within the stage-of-processing system, finished goods are commodities that will not undergo further processing and are ready for sale to the final demand user, either an individual consumer or business firm. Consumer foods include unprocessed foods such as eggs and fresh vegetables, as well as processed foods such as bakery products and meats. Other finished consumer goods include durable goods such as automobiles, household furniture, and appliances; and nondurable goods such as apparel and home heating oil. Capital equipment includes producer durable goods such as heavy motor trucks, tractors, and machine tools. The stage-of-processing category for intermediate materials, supplies, and components consists partly of commodities that have been processed but require further processing. Examples of such semifinished goods include flour, cotton yarn, steel mill products, and lumber. The intermediate goods category also encompasses nondurable physically complete items purchased by business firms as inputs for their operations. Examples include diesel fuel, belts and belting, paper boxes, and fertilizers. Crude materials for further processing are products entering the market for the first time that have not been manufactured or fabricated and that are not sold directly to consumers. Crude foodstuffs and feedstuffs include items such as grains and livestock. Examples of crude nonfood materials include raw cotton, crude petroleum, coal, hides and skins, and iron and steel scrap. Producer price indexes for the net output of industries and their products are grouped according to the Standard Industrial Classification (SIC). Industry price indexes are compatible with other economic time series organized by SIC codes, such as data on employment, wages, and productivity. Table 4 lists indexes for the net output of major mining and manufacturing industry groups at the 2-digit level. Producer price indexes are based on selling prices reported by establishments of all sizes selected by probability sampling, with the probability of selection proportionate to size. Individual items and transaction terms from these firms are also chosen by probability proportionate to size. BLS strongly encourages cooperating companies to supply actual transaction prices at the time of shipment to minimize the use of list prices. Prices are normally reported by mail questionnaire for the Tuesday of the week containing the 13th. Price data are provided on a voluntary and confidential basis; no one but sworn BLS employees are allowed access to individual company price reports. The Bureau publishes price indexes instead of unit dollar prices. All producer price indexes are routinely subject to revision once, 4 months after original publication, to reflect the availability of late reports and corrections by respondents. The BLS periodically updates the PPI sample of survey respondents to better reflect current conditions when the structure, membership, technology, or product mix of an industry shifts significantly and to spread reporting burden among smaller firms. Results of these resampling efforts are incorporated into the PPI every January and July. As part of an ongoing effort to expand coverage to sectors of the economy other than mining and manufacturing, an increasing number of service sector industries have been introduced into the PPI. The following list of recently introduced service industries includes the month in which an article describing the industry's content appeared in the PPI Detailed Report: Industry Wireless Telecommunications Telephone Communications, Except Radio Telephone SIC PPI Detailed Report Issue 4812 July 1999 4813 July 1995 Grocery Stores Meat and Fish (Seafood) Markets, Fruit and Vegetable Markets Candy, Nut, and Confectionery Stores Retail Bakeries Miscellaneous Food Stores New Car Dealers Life Insurance Carriers Property and Casualty Insurance Operators and Lessors of Nonresidential Buildings Real Estate Agents and Managers Prepackaged Software Home Health Care Services Legal Services Engineering, Design, Analysis, and Consulting Services Architectural, Design, Analysis, and Consulting Services Premiums for Property and Casualty Insurance 5411 5421 5431 5441 5461 5499 5511 6311 6331 July 2000 July 2000 July 2000 July 2000 July 2000 July 2000 July 2000 January 1999 July 1998 6512 6531 7372 8082 8111 January January January January January 8711 January 1997 8712 January 1997 9331 July 1998 1996 1996 1998 1997 1997 Weights for most traditional commodity groupings of the PPI, as well as all indexes (such as stage-of-processing indexes) calculated from traditional commodity groupings, currently reflect 1992 values of shipments as reported in the Census of Manufactures and other sources. From January 1992 through December 1995, PPI weights were derived from 1987 shipment values. Industry indexes shown in table 4 are also now calculated with 1992 net output weights. This periodic update of the value weights used to calculate the PPI is done to more accurately reflect changes in production and marketing patterns in the economy. Net output values of shipments are used as weights for industry indexes. Net output values refer to the value of shipments from establishments in one industry to establishments classified in another industry. However, weights for commodity price indexes are based on gross shipment values, including shipment values between establishments within the same industry. As a result, broad commodity grouping indexes such as the all commodities index are affected by the multiple counting of price change at successive stages of processing, which can lead to exaggerated or misleading signals about inflation. Stage-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, while percent changes are not. The example below shows the computation of index point and percent changes. Index point change Finished Goods Price Index Less previous index Equals index point change 107.5 104.0 3.5 Index percent change Index point change Divided by the previous index Equals Result multiplied by 100 Equals percent change 3.5 104.0 0.034 0.034 x 100 3.4 Because price data are used for different purposes by different groups, the Bureau of Labor Statistics publishes seasonally adjusted and unadjusted changes each month. Seasonally Adjusted and Unadjusted Data Seasonally adjusted data are preferred for analyzing general price trends in the economy because they eliminate the effect of changes that normally occur at about the same time and in about the same magnitude every year--such as price movements resulting from normal weather patterns, regular production and marketing cycles, model changeovers, seasonal discounts, and holidays. For these reasons, seasonally adjusted data more clearly reveal underlying cyclical trends. Unadjusted data are of primary interest to users who need information that can be related to actual dollar values of transactions. Individuals requiring this information include marketing specialists, purchasing agents, budget and cost analysts, contract specialists, and commodity traders. It is the unadjusted data that are generally cited in escalating long-term contracts such as purchasing agreements or real estate leases. (See Escalation and Producer Price Indexes: A Guide for Contracting Parties, BLS Report 807, September 1991, available on request from BLS.) For more information, see "Appendix A: Seasonal Adjustment Methodology at BLS," in the BLS Handbook of Methods (April 1997), Bulletin 2490 and (2) "Summary of Changes to the PPI's Seasonal Adjustment Methodology" in the January 1995 issue of Producer Price Indexes.
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