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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 01-250 TRANSMISSION OF MATERIAL IN THIS RELEASE IS EMBARGOED UNTIL 8:30 A.M. (E.D.T.), FRIDAY, AUGUST 10, 2001 Producer Price Indexes -- July 2001 The Producer Price Index for Finished Goods declined 0.9 percent in July, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This index posted a 0.4-percent drop in June and increased 0.1 percent in May. The index for finished goods other than foods and energy rose 0.2 percent in July, after inching up 0.1 percent a month ago. Prices received by manufacturers of intermediate goods fell 1.0 percent, following a 0.1-percent decrease a month earlier. The crude goods index posted a 5.3-percent decline, after moving down 6.0 percent in June. (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 July -0.1 -0.1 -0.6 0.1 4.3 0.2 -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 1.5 0 3.7 .2 3.8 Nov. .1 .2 .5 .1 3.8 -.2 -1.3 Dec. .1 -.3 .8 .1 3.6 .4 9.3 2001 Jan. Feb. Mar. Apr. May June 1.1 .1 r-.1 r.4 .1 -.4 .9 .8 r.9 r.5 -.4 .1 4.4 .4 r-2.4 r.8 .2 -2.5 .5 -.3 .1 .2 .2 .1 4.8 4.0 r3.0 3.7 3.8 2.5 .8 -.2 r-.3 -.2 .1 -.1 17.5 -14.5 r-6.7 r.4 -2.3 -6.0 July -.9 -.6 -5.8 .2 1.5 -1.0 -5.3 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for March 2001 have been revised to reflect the availability of late reports and corrections by respondents. July's faster rate of decline in the finished goods index was primarily due to finished energy goods prices, which fell 5.8 percent in July and 2.5 percent in June. In addition, the index for finished consumer foods turned down 0.6 percent, following a slight increase in June. By contrast, the index for consumer goods other than foods and energy edged up 0.1 percent in July, after showing no change a month earlier. The capital equipment index rose 0.2 percent, slightly more than June's increase of 0.1 percent. Before seasonal adjustment, the Producer Price Index for Finished Goods fell 1.0 percent in July to stand at 140.7 (1982=100). From July 2000 to July 2001, prices for finished goods advanced 1.5 percent. During the same period, the index for finished goods other than foods and energy rose 1.6 percent, prices for finished consumer foods increased 2.7 percent, and the finished energy goods index decreased 0.3 percent. At the earlier stages of processing, prices received by manufacturers of intermediate goods showed no change for the 12 months ended in July, and the index for crude goods declined 5.4 percent. Finished goods The finished energy goods index fell 5.8 percent in July, after posting a 2.5-percent decrease in June. A 17.7-percent drop in July prices for gasoline was the biggest one-month rate of decrease in 15 years and followed a 3.7-percent decline in June. Prices for liquefied petroleum gas and home heating oil also fell more in July than they did in the previous month. (See "One-Month Lag in Producer Price Indexes for Liquefied Petroleum Gas Removed.") The index for diesel fuel turned down, after rising a month earlier. By contrast, prices for residential electric power turned up 2.2 percent in July, following a 1.5-percent decline in June. The index for residential natural gas fell at a slower rate than a month ago. 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 July -0.6 1.0 0.2 5.2 -1.9 -2.3 -1.5 25.3 Aug. -2.0 -.5 -.1 4.3 -3.9 -4.1 -1.6 14.7 Sept. .6 4.3 0 4.6 3.8 11.7 .8 17.4 Oct. .6 1.1 0 4.6 3.1 5.9 -.8 25.3 Nov. .2 -.2 -.1 4.2 1.2 -2.7 -2.1 17.6 Dec. 1.8 1.4 0 4.1 3.6 15.8 .4 35.5 2001 Jan. 1.4 4.1 .1 4.6 1.6 31.7 0 55.7 Feb. -1.1 -1.7 .1 3.5 -1.3 -23.0 -1.8 28.0 Mar. r.4 r-2.4 .1 2.3 r3.4 r-14.0 r-1.0 r17.1 Apr. r-.2 r-.6 -.1 2.0 r-.6 r2.2 r-3.3 19.4 May .3 .1 .1 2.3 -1.1 -3.7 -.2 12.9 June 1.3 -.1 -.3 1.2 -.1 -11.9 -.2 -2.2 July .6 -3.8 -.4 0 .6 -11.5 -.9 -5.4 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for March 2001 have been revised to reflect the availability of late reports and corrections by respondents. Prices for finished consumer foods posted a 0.6-percent decline, after edging up 0.1 percent in June. Prices for fresh fruits and melons decreased 13.6 percent, following a 1.7-percent drop a month ago. The indexes for beef and veal, dairy products, processed young chickens, and soft drinks turned down in July, after rising in the prior month. Fresh and dry vegetable prices fell more than they did a month earlier. On the other hand, the pork index advanced 5.4 percent in July, following a 1.0percent decline in June. Prices for finfish and shellfish, eggs for fresh use, and roasted coffee also turned up, after falling in the previous month. The index for processed fruits and vegetables increased more than it did in June. The index for finished consumer goods other than foods and energy inched up 0.1 percent in July, following no change in June. Rising prices for light motor trucks, book publishing, passenger car radial tires, women's apparel, and pharmaceutical preparations slightly outweighed falling prices for passenger cars, sanitary papers and health products, household appliances, cosmetics, and cigarettes. The capital equipment index increased 0.2 percent in July, after edging up 0.1 percent in June. A 2.3-percent rise in light motor truck prices led the advance in the capital equipment index. Prices for civilian aircraft, heavy motor trucks, commercial furniture, ships, and construction machinery also rose in July. By contrast, the indexes for metal cutting machine tools, communication and related equipment, passenger cars, x-ray and electromedical equipment, industrial material handling equipment, and electronic computers fell in July. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components dropped 1.0 percent in July, after registering a 0.1-percent decline in June. Prices for intermediate energy goods, nondurable manufacturing materials, and durable manufacturing materials fell more than they did a month prior. The index for materials and components for construction turned down, after rising in June. Prices for intermediate foods and feeds rose less than they did in the previous month. The July index for intermediate materials less foods and energy decreased 0.4 percent, slightly more than the 0.3-percent decrease posted in June. (See table B.) The index for intermediate energy goods fell 3.8 percent in July, following a 0.1-percent decrease in June. Prices for gasoline dropped 17.7 percent, after declining 3.7 percent a month earlier. The indexes for diesel fuel, commercial electric power, and jet fuels turned down in July, after posting gains in June. Prices for coke oven products showed no change in July, compared with a 0.7-percent increase in the prior month. On the other hand, the index for industrial electric power rose 3.9 percent in July, following a 1.7-percent increase in June. Residual fuel prices turned up in July. The indexes for industrial natural gas, commercial natural gas, and natural gas to electric utilities fell less than they did in June. Prices for materials and components for construction decreased 0.5 percent in July, after posting a 0.1-percent gain in the previous month. The index for softwood lumber fell 5.7 percent, following a 0.6 percent rise in June. Prices for plywood, millwork, plastic construction products, plumbing fixtures and brass fittings, and gypsum products also turned down in June. By contrast, the index for fabricated structural metal products increased 0.1 percent in July, after showing no change a month earlier. Prices for asphalt felts and coating rose more than they did in the prior month. The index for fabricated ferrous wire products fell less in July than it did in June. Prices for cement turned up, following a decline in the previous month. The index for nondurable manufacturing materials decreased 1.1 percent in July, following a 0.6-percent decline in the previous month. Prices for basic organic chemicals dropped 3.2 percent, after falling 1.0 percent in June. The indexes for gray fabrics, phosphates, finished fabrics, and paint materials turned down, after rising a month ago. Prices for plastic resins and materials fell more than they did in June. On the other hand, the index for paperboard posted a 0.1-percent gain, following a 0.7-percent decrease in the prior month. Prices for nitrogenates and woodpulp fell less in July than they did in June. The indexes for basic inorganic chemicals, medicinal and botanical chemicals, and synthetic fibers turned up in July. Prices for durable manufacturing materials decreased 0.9 percent, after falling 0.4 percent a month ago. The plywood index dropped 5.9 percent in July, following a 0.5-percent rise in June. Prices for aluminum extrusion billet, hot rolled sheet and strip, and for building paper and board fell more than they did in the previous month. The indexes for copper and brass mill shapes, semi-finished steel mill products, prepared paint, silver, and gold turned down, after showing gains in June. By contrast, prices for hot rolled bars, plates, and structural shapes posted a 1.5-percent rise in July, following a 0.5-percent decline in the prior month. The indexes for aluminum mill shapes and cement turned up, after falling in June. Prices for cold rolled sheet and strip, primary aluminum (except extrusion billet), and cold finished bars fell less than they did a month ago. The index for intermediate foods and feeds increased 0.6 percent in July, following a 1.3 percent rise in June. Prices for prepared animal feeds posted a 0.7-percent gain, following a 1.7-percent increase in the previous month. The indexes for beef and veal, flour, refined sugar, and dry milk products turned down, after rising in June. After increasing in June, prices for fluid milk products showed no change in July. The index for natural, processed, and imitation cheese rose less than it did a month ago. On the other hand, pork prices posted a 5.4-percent increase in July, following a 1.0-percent decline in June. The index for confectionery materials fell less than it did in the prior month. Prices for liquid beverage bases (used for soft drinks) showed no change, after declining in June. The index for snack chips rose more in July than it did a month ago. Prices for liquid milk products increased, after showing no change in June. Crude goods The Producer Price Index for Crude Materials for Further Processing declined 5.3 percent in July, following a 6.0-percent drop in June. Prices for crude energy materials fell less than they did in the previous month, while the index for crude foodstuffs and feedstuffs turned up, after edging down in June. On the other hand, basic industrial material prices declined at a faster rate in July than in June. (See table B.) The crude energy materials index fell 11.5 percent in July, a slightly slower rate of decrease than the 11.9-percent rate registered in June. A 19.0-percent drop in natural gas prices led the July decline in crude energy material prices. Crude petroleum prices decreased 5.1 percent, following a June rise. By contrast, the coal index advanced 4.7 percent in July, after declining 6.6 percent in the prior month. Prices for crude foodstuffs and feedstuffs increased 0.6 percent in July, after edging down 0.1 percent in June. Accounting for most of this acceleration, corn prices jumped 16.2 percent, after posting a 2.0-percent gain in the previous month. The indexes for slaughter hogs and soybeans also rose more than they did a month earlier. Prices for alfalfa hay, unprocessed finfish, unprocessed shellfish, and raw cane sugar turned up in July. Conversely, the fluid milk index fell 3.4 percent, following a 3.4percent increase in June. Prices for slaughter cattle, slaughter broilers and fryers, fresh fruits and melons, fresh and dry vegetables, and wheat declined more in July than they did in the prior month. The index for crude nonfood materials less energy fell 0.9 percent in July, after edging down 0.2 percent in June. A majority of July's faster rate of decline can be traced to a 6.1-percent decrease in aluminum base scrap prices, which followed a 0.6-percent fall in the previous month. Also contributing to this deceleration, the indexes for softwood logs, bolts, and timber; pulpwood; and phosphates turned down in July. Prices for copper base scrap declined more in July than they did a month earlier. By contrast, the index for iron and steel scrap advanced 3.9 percent in July, after falling 0.4 percent in June. Prices for raw cotton and wastepaper turned up in July. The gold ores index fell at a slower rate than it did in June. Net output price indexes for mining, manufacturing, and services industries Mining. The Producer Price Index for the Net Output of Total Mining Industries fell 10.5 percent in July, following a 9.4-percent decrease in June. (Net output price indexes are not seasonally adjusted.) Most of July's faster rate of decline can be traced to a 14.4-percent drop in prices received by the crude petroleum, natural gas, and natural gas liquids industry, compared with an 11.7-percent decline in the prior month. Also contributing to the deceleration in mining industry prices, the industry group index for mining and quarrying of non-metallic minerals turned down, after rising in June. Prices received by the metal mining industry group fell more in July than they did a month earlier. By contrast, the index for the bituminous coal and lignite industry advanced 3.7 percent in July, following a 5.0-percent decrease in the previous month. In July, the Producer Price Index for the Net Output of Total Mining Industries stood at 103.4 (December 1984 = 100), 12.4 percent below its year-ago level. Manufacturing. The Producer Price Index for the Net Output of Total Manufacturing Industries dropped 1.0 percent in July, after declining 0.2 percent in June. Leading the way, prices received by the petroleum refining and related products industry group fell 11.2 percent, following a 3.3-percent decrease in the prior month. The indexes for the chemicals and allied products, electrical and electronic machinery and equipment, and paper and allied products industry groups also declined more in July than they did a month earlier. Prices received by the food and kindred products industry group increased less in July than they did in June. The indexes for lumber and wood products (except furniture), measuring and controlling instruments, and tobacco manufactures industry groups turned down in July. Prices received by the machinery (except electrical) industry group showed no change, after rising slightly in June. On the other hand, the index for the transportation equipment industry group edged up 0.1 percent in July, following a 0.2-percent decrease in the previous month. July prices received by the industry groups for printing and publishing, apparel, rubber and miscellaneous plastic products, and non-metallic mineral products also turned up. In July, the Producer Price Index for the Net Output of Total Manufacturing Industries stood at 134.6 (December 1984 = 100), 0.5 percent above its year-ago level. Services. Among service industries in July, advancing prices were registered by offices of physicians, the property and casualty insurance industry, the legal services industry, the United States Postal Service, general medical and surgical hospitals, skilled and intermediate care facilities, the scheduled air transportation industry, hotels and motels, the deep sea foreign transportation of freight industry, truck rental and leasing, and life insurance carriers. Conversely, the industries for telephone communications (except radiotelephone), travel agencies, airports and flying fields, help supply services, and wireless telecommunications experienced falling prices in July. ***** Producer Price Index data for August 2001 will be released on Friday, September 14, 2001 at 8:30 a.m. (E.D.T.) Resampling of Industries Effective with this release, the Producer Price Index (PPI) includes data for 25 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 index additions, deletions, and recodes that are effective this month, see the July 2001 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. Standard Industrial Classification (SIC) Code Industry ------------------------------------------------------------------------------------1021 Copper ores 2011 Meat packing plants 2257 Circular knit fabric mills 2258 Lace and warp knit fabric mills 2599 Furniture and fixtures, not elsewhere classified 2771 Greeting card publishing 2819 Industrial inorganic chemicals, not elsewhere classified 2834 Pharmaceutical preparations 2865 Cyclic (coal tar) crudes and intermediates, organic dyes and pigments 2869 Industrial organic chemicals, not elsewhere classified 3313 Electrometallurgical products 3331 Primary copper 3495 Wire springs 3535 Conveyors and conveying equipment 3555 Printing trades machinery 3559 Special industry machinery, not elsewhere classified 3572 Computer storage devices 3578 Calculating and accounting machines 3873 Watches, clocks, watchcases, and parts 4212 4213 4214 4492 4731 7011 Local trucking without storage Trucking, except local Local trucking with storage Tugging and towing services Freight transportation arrangement Hotels and motels One-Month Lag in Producer Price Indexes for Liquefied Petroleum Gas Removed Effective with this release, the 1-month lag in the Producer Price Index (PPI) for Liquefied Petroleum Gas, commodity code 05-32, has been eliminated. Since 1971, the liquefied petroleum gas index has been calculated with prices that lag behind the index reference date by one month. For example, the Producer Price Index for January contains liquefied petroleum gas prices for December. In order to eliminate this lag, the Bureau of Labor Statistics utilized the natural gas liquids price data published by the Oil Price Information Service (OPIS) to estimate the PPI. These data are used in the first-released index for liquefied petroleum gas. As is customary practice, a revised PPI for Liquefied Petroleum Gas will be published four months later. At that time, the interim estimates of price movement using OPIS data will be replaced with prices from the PPI sample. The July 2001 PPI for Liquefied Petroleum Gas released on August 10 reflects the prices for this commodity as of July 2001. Indexes prior to July continue to represent liquefied petroleum gas prices with a 1-month lag. As a result of this modification, the July 2001 percent change for the liquefied petroleum gas index represents a 2-month (May to July) price movement. For more information, call the Section of Index Analysis and Public Information at 202-691-7705. Table 1. Producer price indexes and percent changes by stage of processing (1982=100) _______________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | Relative | Unadjusted index |change to |percent change from: Grouping |importance| |July 2001 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | Mar. |June |July | July | June |Apr. to| May to |June to | 2000 1/|2001 2/|2001 2/|2001 2/| 2000 | 2001 | May | June | July _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 140.9 142.1 140.7 1.5 -1.0 0.1 -0.4 -0.9 Finished consumer goods........................| 76.120 141.8 143.3 141.5 1.8 -1.3 .1 -.5 -1.3 Finished consumer foods......................| 22.507 141.1 141.9 141.2 2.7 -.5 -.4 .1 -.6 Crude......................................| 1.549 137.4 122.2 112.1 -2.9 -8.3 -5.5 -5.4 -7.9 Processed..................................| 20.958 141.3 143.5 143.5 3.0 0 0 .5 0 Finished consumer goods, excluding foods.....| 53.624 141.9 143.7 141.4 1.4 -1.6 .3 -.7 -1.7 Nondurable goods less foods................| 38.191 143.5 146.5 143.1 1.9 -2.3 .5 -1.0 -2.4 Durable goods..............................| 15.434 134.1 133.2 133.2 .1 0 -.1 0 .2 Capital equipment..............................| 23.868 139.7 139.6 139.8 .9 .1 -.1 .1 .2 Manufacturing industries.....................| 6.278 140.2 140.5 140.6 .8 .1 -.1 .1 .1 Nonmanufacturing industries..................| 17.590 139.4 139.2 139.4 .9 .1 -.1 .1 .3 | Intermediate materials, supplies, and components.| 100.000 130.7 131.4 130.3 0 -.8 .1 -.1 -1.0 Materials and components for manufacturing.....| 45.385 129.0 128.3 127.5 -1.1 -.6 -.2 -.2 -.5 Materials for food manufacturing.............| 3.224 122.4 125.7 126.1 4.6 .3 .4 1.0 .2 Materials for nondurable manufacturing.......| 15.685 135.9 133.4 131.9 -1.9 -1.1 -.7 -.6 -1.1 Materials for durable manufacturing..........| 9.861 126.5 126.5 125.3 -3.2 -.9 .8 -.4 -.9 Components for manufacturing.................| 16.616 126.6 126.4 126.2 -.1 -.2 -.1 0 -.1 Materials and components for construction......| 13.216 150.2 151.7 151.0 .1 -.5 .8 .1 -.5 Processed fuels and lubricants.................| 15.634 105.9 110.2 106.8 1.7 -3.1 .1 -.1 -3.9 Manufacturing industries ....................| 5.555 106.3 108.7 108.7 4.1 0 -.7 -.7 -.6 Nonmanufacturing industries..................| 10.080 105.4 110.7 105.3 .4 -4.9 .5 .4 -5.7 Containers.....................................| 3.966 153.1 154.1 153.6 .2 -.3 .3 .1 -.3 Supplies.......................................| 21.799 138.8 138.8 138.8 1.1 0 0 -.1 0 Manufacturing industries.....................| 5.024 145.6 145.7 145.7 1.2 0 -.2 -.3 -.1 Nonmanufacturing industries..................| 16.775 135.8 135.9 135.8 1.0 -.1 .1 -.1 -.1 Feeds......................................| 1.229 95.5 95.0 96.8 1.8 1.9 0 1.9 1.9 Other supplies.............................| 15.546 140.7 140.8 140.6 .9 -.1 .1 -.3 -.1 | Crude materials for further processing...........| 100.000 132.2 122.8 116.1 -5.4 -5.5 -2.3 -6.0 -5.3 Foodstuffs and feedstuffs......................| 30.898 109.1 109.7 109.6 10.4 -.1 -1.1 -.1 .6 Nonfood materials..............................| 69.102 143.3 127.4 116.3 -13.5 -8.7 -2.9 -9.2 -8.7 Nonfood materials except fuel 3/.............| 28.621 106.1 107.4 104.3 -10.4 -2.9 .8 .5 -2.9 Manufacturing 3/...........................| 27.686 97.6 98.7 95.8 -10.6 -2.9 .7 .4 -2.9 Construction...............................| 0.935 180.9 184.9 183.4 -4.7 -.8 1.0 1.1 -.8 Crude fuel 4/................................| 40.481 182.9 144.7 123.5 -16.7 -14.7 -5.8 -17.3 -14.7 Manufacturing industries...................| 3.470 182.0 143.8 121.2 -18.1 -15.7 -6.1 -16.9 -15.7 Nonmanufacturing industries................| 37.011 186.2 147.3 126.0 -16.5 -14.5 -5.8 -17.4 -14.5 | Special groupings | | Finished goods, excluding foods..................|5/ 77.493 140.8 142.0 140.5 1.2 -1.1 .2 -.5 -1.1 Intermediate materials less foods and feeds......|6/ 95.547 131.6 132.3 131.0 -.2 -1.0 .2 -.2 -1.1 Intermediate foods and feeds.....................|6/ 4.453 114.2 116.3 117.1 3.9 .7 .3 1.3 .6 Crude materials less agricultural products 3/ 7/.|8/ 67.222 145.5 129.7 118.1 -13.4 -8.9 -2.9 -9.4 -8.9 | Finished energy goods............................|5/ 15.512 99.0 102.7 97.0 -.3 -5.6 .2 -2.5 -5.8 Finished goods less energy.......................|5/ 84.488 147.2 147.6 147.5 1.9 -.1 .1 .1 0 Finished consumer goods less energy..............|5/ 60.620 150.3 150.9 150.7 2.3 -.1 .1 .1 -.1 | Finished goods less foods and energy.............|5/ 61.981 149.6 149.9 149.9 1.6 0 .2 .1 .2 Finished consumer goods less foods and energy....|5/ 38.113 156.3 156.7 156.8 2.1 .1 .4 0 .1 Consumer nondurable goods less foods and energy..|5/ 22.679 173.8 175.5 175.5 3.5 0 .7 .1 0 | Intermediate energy goods........................|6/ 15.755 105.5 109.7 106.3 1.6 -3.1 .1 -.1 -3.8 Intermediate materials less energy...............|6/ 84.245 136.0 135.9 135.3 -.3 -.4 .1 -.1 -.4 Intermediate materials less foods and energy.....|6/ 79.792 137.5 137.2 136.5 -.5 -.5 .1 -.3 -.4 | Crude energy materials 3/........................|8/ 54.136 142.1 123.1 109.0 -14.6 -11.5 -3.7 -11.9 -11.5 Crude materials less energy......................|8/ 45.864 115.6 114.8 114.3 3.2 -.4 -.9 -.2 .2 Crude nonfood materials less energy 4/...........|8/ 14.966 135.6 130.6 129.4 -10.3 -.9 -.2 -.2 -.9 | _______________________________________________________________________________________________________________________________ 1/ Comprehensive relative importance figures are initially computed after the publication of December indexes and are recalculated after final December indexes are available. The first-published and final December relative importances initially appear, respectively, in the release tables containing January and May data. The indexes for March 2001 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. 3/ 4/ 5/ 6/ 7/ Includes crude petroleum. Excludes crude petroleum. Percent of total finished goods. Percent of total intermediate materials. Formerly titled "Crude materials for 2/ further processing, excluding crude foodstuffs and feedstuffs, plant and animal fibers, oilseeds, and leaf tobacco." 8/ Percent of total crude materials. Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing (1982=100 unless otherwise indicated) ____________________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | | Unadjusted index |change to |percent change from: Commodity | | |July 2001 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Mar. |June |July | July | June |Apr. to| May to|June to | |2001 1/|2001 1/|2001 1/| 2000 | 2001 | May | June | July ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 140.9 142.1 140.7 1.5 -1.0 0.1 -0.4 -0.9 | FINISHED CONSUMER GOODS...............................| 141.8 143.3 141.5 1.8 -1.3 .1 -.5 -1.3 | FINISHED CONSUMER FOODS..............................| 141.1 141.9 141.2 2.7 -.5 -.4 .1 -.6 | | 01-11 | Fresh fruits and melons 2/..........................| 92.6 98.3 84.9 .4 -13.6 6.0 -1.7 -13.6 01-13 | Fresh and dry vegetables 2/.........................| 152.7 120.5 105.4 -11.9 -12.5 .7 -7.2 -12.5 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 88.2 71.8 69.9 -.6 -2.6 -21.4 -13.5 .5 02-11 | Bakery products 2/..................................| 186.5 188.2 188.7 3.4 .3 .1 .4 .3 02-13 | Milled rice 2/......................................| 90.3 86.2 85.5 -15.4 -.8 -1.9 -.1 -.8 02-14-02 | Pasta products (June 1985=100) 2/...................| 122.2 122.3 122.2 .6 -.1 -.1 .1 -.1 02-21-01 | Beef and veal.......................................| 125.9 123.4 119.0 2.9 -3.6 -2.7 .9 -2.8 02-21-04 | Pork................................................| 117.3 124.1 130.7 5.9 5.3 -3.3 -1.0 5.4 02-22-03 | Processed young chickens............................| 113.2 117.5 117.1 8.6 -.3 -1.3 .9 -3.1 02-22-06 | Processed turkeys...................................| 94.9 98.8 96.4 -2.0 -2.4 .6 -3.7 -4.2 02-23 | Finfish and shellfish...............................| 200.9 183.1 185.8 -5.6 1.5 -6.1 -5.7 1.5 02-3 | Dairy products......................................| 138.7 150.1 150.9 11.1 .5 4.6 1.6 -.1 02-4 | Processed fruits and vegetables 2/..................| 128.2 128.2 128.8 .1 .5 -.3 .2 .5 02-55 | Confectionery end products 2/.......................| 170.7 170.6 170.7 -.3 .1 0 0 .1 02-62 | Soft drinks.........................................| 148.8 147.9 147.2 1.7 -.5 .1 .5 -.4 02-63-01 | Roasted coffee 2/...................................| 126.1 123.7 123.8 -6.8 .1 -.1 -.4 .1 02-78 | Shortening and cooking oils 2/......................| 131.4 131.0 132.5 1.1 1.1 -.1 .3 1.1 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 141.9 143.7 141.4 1.4 -1.6 .3 -.7 -1.7 | | 02-61 | Alcoholic beverages.................................| 145.0 145.4 145.3 2.9 -.1 .3 .1 -.1 03-81-01 | Women's apparel 2/..................................| 124.0 122.0 122.3 -1.8 .2 -.4 -.4 .2 03-81-02 | Men's and boys' apparel.............................| 132.7 132.7 132.7 -.5 0 .7 -.2 -.1 03-81-03 | Girls', children's, and infants' apparel 2/.........| 116.4 116.5 116.6 -1.2 .1 .3 -.1 .1 03-82 | Textile housefurnishings 2/.........................| 122.3 122.3 122.4 -.1 .1 -.5 0 .1 04-3 | Footwear 2/.........................................| 145.8 146.7 146.6 1.1 -.1 -.7 .3 -.1 05-41 | Residential electric power (Dec. 1990=100)..........| 113.3 118.6 121.7 6.2 2.6 .7 -1.5 2.2 05-51 | Residential gas (Dec. 1990=100).....................| 177.1 162.6 155.6 12.8 -4.3 .2 -5.8 -4.0 05-71 | Gasoline............................................| 90.6 106.1 88.2 -11.8 -16.9 .4 -3.7 -17.7 05-73-02-01| Fuel oil No. 2......................................| 83.7 90.6 82.9 -6.6 -8.5 8.0 -.2 -9.1 06-38 06-71 06-75 07-12 09-15-01 09-31-01 09-32-01 09-33 12-1 12-3 12-4 12-5 12-62 12-64 12-66 14-11-01 15-11 15-12 15-2 15-5 15-94-02 15-94-04 11-1 11-2 11-37 11-38 11-39 11-41 11-44 11-51 11-62 11-64 11-65 11-74 11-76 11-79-05 11-91 11-92 11-93 12-2 14-11-05 14-11-06 | Pharmaceutical preparations (June 2001=100) 2/......| | Soaps and synthetic detergents 2/...................| | Cosmetics and other toilet preparations 2/..........| | Tires, tubes, tread, etc 2/.........................| | Sanitary papers and health products 2/..............| | Newspaper circulation 2/............................| | Periodical circulation..............................| | Book publishing.....................................| | Household furniture 2/..............................| | Floor coverings 2/..................................| | Household appliances ...............................| | Home electronic equipment 2/........................| | Household glassware.................................| | Household flatware 2/...............................| | Lawn and garden equip., ex. tractors 2/.............| | Passenger cars......................................| | Toys, games, and children's vehicles 2/.............| | Sporting and athletic goods 2/......................| | Tobacco products 2/.................................| | Mobile homes 2/.....................................| | Jewelry, platinum, & karat gold 2/..................| | Costume jewelry and novelties 2/....................| | | | CAPITAL EQUIPMENT.....................................| | | | Agricultural machinery and equipment 2/.............| | Construction machinery and equipment................| | Metal cutting machine tools 2/......................| | Metal forming machine tools 2/......................| | Tools, dies, jigs, fixtures, and ind. molds 2/......| | Pumps, compressors, and equipment...................| | Industrial material handling equipment 2/...........| | Electronic computers (Dec. 1998=100) 2/.............| | Textile machinery 2/................................| | Paper industries machinery (June 1982=100)..........| | Printing trades machinery 2/........................| | Transformers and power regulators 2/................| | Communication & related equip. (Dec. 1985=100) 2/...| | X-ray and electromedical equipment 2/...............| | Oil field and gas field machinery ..................| | Mining machinery and equipment 2/...................| | Office and store machines and equipment 2/..........| | Commercial furniture 2/.............................| | Light motor trucks..................................| | Heavy motor trucks 2/...............................| (3) 130.3 138.6 94.0 145.9 218.3 200.5 223.8 154.4 129.9 105.6 71.2 168.8 142.0 132.7 133.5 123.0 126.3 426.8 162.2 127.0 144.1 100.0 130.5 138.9 93.4 146.4 219.0 200.4 222.8 154.8 129.6 105.3 69.8 170.5 143.2 132.3 130.9 123.0 126.1 447.8 163.9 128.5 144.1 100.1 130.5 138.2 94.6 145.3 219.0 199.6 224.0 154.8 129.8 104.2 69.7 169.9 143.2 132.1 130.2 123.0 126.0 447.4 164.8 129.3 144.1 (3) 2.3 .9 1.1 -.9 5.0 -.6 3.2 1.3 .4 -3.2 -2.8 2.4 2.8 .4 -.3 .7 -.1 13.7 2.0 1.5 1.3 .1 0 -.5 1.3 -.8 0 -.4 .5 0 .2 -1.0 -.1 -.4 0 -.2 -.5 0 -.1 -.1 .5 .6 0 (3) .1 .1 -.5 -.1 .5 0 2.2 .1 -.4 -.2 0 .4 -4.7 .5 -.1 0 -.7 4.9 .1 1.7 1.3 (3) 0 -.1 0 .1 .2 -.2 -1.2 0 -.3 0 -1.8 .3 -.8 0 .1 0 -.4 .1 .6 .1 0 .1 0 -.5 1.3 -.8 0 -.5 .9 0 .2 -1.0 -.1 -.2 0 -.2 -.3 0 -.1 -.1 .5 .6 0 139.7 139.6 139.8 .9 .1 -.1 .1 .2 155.3 149.0 163.6 163.9 140.7 156.2 136.3 61.5 156.9 166.2 143.6 135.0 110.3 99.6 133.4 147.6 112.0 160.1 154.5 146.6 155.0 149.0 163.6 164.9 142.0 156.4 137.5 59.1 157.9 167.2 143.9 134.3 110.3 99.5 134.7 148.7 112.8 160.5 152.0 147.1 154.9 149.1 153.3 165.4 141.8 156.7 137.1 58.9 158.3 167.2 143.9 134.3 110.0 99.0 134.8 148.7 112.9 160.8 154.0 148.5 .9 .3 -5.4 2.0 .5 1.3 1.6 -19.0 1.1 1.3 1.6 -1.6 -.5 -3.6 5.3 1.6 -.3 1.5 -.7 .2 -.1 .1 -6.3 .3 -.1 .2 -.3 -.3 .3 0 0 0 -.3 -.5 .1 0 .1 .2 1.3 1.0 .1 0 -.1 .4 -.1 .3 -.1 -1.0 -.1 -.2 0 -.9 -.1 -.1 1.6 .4 -.2 0 -1.6 -.3 -.1 .1 0 .2 1.4 -.3 .7 -2.8 .3 .7 .1 .1 0 .8 .6 .2 .7 .2 .5 -2.0 -.1 .1 -6.3 .3 -.1 .1 -.3 -.3 .3 .1 0 0 -.3 -.5 .2 0 .1 .2 2.3 1.0 14-14 14-21-02 14-31 14-4 | Truck trailers 2/...................................| 138.8 138.8 138.8 -.9 0 0 -.1 0 | Civilian aircraft (Dec. 1985=100)...................| 166.3 168.6 169.7 6.1 .7 .3 .8 .8 | Ships (Dec. 1985=100) 2/............................| 148.6 148.7 151.4 3.3 1.8 .1 0 1.8 | Railroad equipment 2/...............................| 135.4 135.6 135.6 -.1 0 0 -.1 0 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 130.7 131.4 130.3 0 -.8 .1 -.1 -1.0 | | | INTERMEDIATE FOODS AND FEEDS..........................| 114.2 116.3 117.1 3.9 .7 .3 1.3 .6 | | 02-12-03 | Flour 2/............................................| 108.8 110.7 110.3 7.4 -.4 1.6 1.0 -.4 02-53 | Refined sugar 2/....................................| 109.2 109.6 108.6 -2.5 -.9 .6 .7 -.9 02-54 | Confectionery materials.............................| 105.5 104.9 104.8 11.6 -.1 1.0 -1.9 -.1 02-72 | Crude vegetable oils 2/.............................| 65.8 70.9 73.0 .4 3.0 2.7 3.4 3.0 02-9 | Prepared animal feeds 2/............................| 104.2 104.0 104.7 1.4 .7 0 1.7 .7 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 131.6 132.3 131.0 -.2 -1.0 .2 -.2 -1.1 | | 03-1 | Synthetic fibers 2/.................................| 111.0 107.7 108.2 .8 .5 -3.0 -.6 .5 03-2 | Processed yarns and threads 2/......................| 107.6 106.3 105.0 -2.8 -1.2 -.4 -.5 -1.2 03-3 | Gray fabrics 2/.....................................| 115.6 115.1 113.3 .4 -1.6 -1.2 1.1 -1.6 03-4 | Finished fabrics....................................| 122.9 123.5 123.4 .3 -.1 -.1 .7 -.2 03-83-03 | Industrial textile products 2/......................| 131.4 132.7 133.3 1.5 .5 .2 .3 .5 04-2 | Leather 2/..........................................| 199.9 207.3 202.3 12.9 -2.4 1.4 -1.1 -2.4 05-32 | Liquefied petroleum gas 2/..........................| 152.6 127.5 104.8 -22.1 -17.8 -7.4 -1.3 -17.8 ____________________________________________________________________________________________________________________________________ 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 | | |July 2001 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Mar. |June |July | July | June |Apr. to| May to|June to | |2001 1/|2001 1/|2001 1/| 2000 | 2001 | May | June | July ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 134.6 146.7 148.3 7.2 1.1 -0.8 3.1 -0.1 05-43 | Industrial electric power...........................| 136.5 142.9 149.7 9.9 4.8 -1.6 1.7 3.9 05-52 | Commercial natural gas (Dec. 1990=100)..............| 193.5 167.9 158.9 16.0 -5.4 1.0 -8.8 -6.2 05-53 05-54 05-72-03 05-73-03 05-74 06-1 06-21 06-22 06-31 06-4 06-51 06-52-01 06-52-02 06-53 06-6 07-11-02 07-21 07-22 07-26 08-11 08-12 08-2 08-3 09-11 09-13 09-14 09-15-03 09-2 09-37 10-15 10-17 10-22 10-25-01 10-25-02 10-26 10-3 10-4 10-5 10-6 10-7 10-88 10-89 11-45 11-48 11-49-02 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Industrial natural gas (Dec. 1990=100)..............| Natural gas to electric utilities (Dec. 1990=100)...| Jet fuels...........................................| No. 2 Diesel fuel...................................| Residual fuel 2/....................................| Industrial chemicals 2/.............................| Prepared paint......................................| Paint materials 2/..................................| Medicinal and botanical chemicals 2/................| Fats and oils, inedible 2/..........................| Mixed fertilizers...................................| Nitrogenates........................................| Phosphates 2/.......................................| Other agricultural chemicals 2/.....................| Plastic resins and materials 2/.....................| Synthetic rubber 2/.................................| Plastic construction products ......................| Unsupported plastic film, sheet, & other shapes 2/..| Plastic parts and components for manufacturing 2/...| Softwood lumber 2/..................................| Hardwood lumber ....................................| Millwork 2/.........................................| Plywood 2/..........................................| Woodpulp 2/.........................................| Paper 2/............................................| Paperboard 2/.......................................| Paper boxes and containers 2/.......................| Building paper and board 2/.........................| Commercial printing (June 1982=100) 2/..............| Foundry and forge shop products.....................| Steel mill products 2/..............................| Primary nonferrous metals 2/........................| Aluminum mill shapes 2/.............................| Copper and brass mill shapes 2/.....................| Nonferrous wire and cable 2/........................| Metal containers 2/.................................| Hardware............................................| Plumbing fixtures and brass fittings................| Heating equipment...................................| Fabricated structural metal products................| Fabricated ferrous wire products (June 1982=100) 2/.| Other misc. metal products 2/.......................| Mechanical power transmission equipment.............| Air conditioning and refrigeration equipment 2/.....| Metal valves, ex.fluid power (Dec. 1982=100) 2/.....| 204.2 192.6 82.1 83.5 78.1 134.6 164.1 151.7 144.0 65.4 117.8 183.9 98.2 147.7 141.4 124.3 133.9 139.5 117.3 165.7 184.6 177.7 148.0 138.4 152.9 175.8 175.2 127.1 157.4 137.0 102.6 111.4 150.7 160.9 142.7 105.7 153.1 181.8 156.6 145.1 130.0 126.8 166.9 135.8 164.8 177.5 139.6 83.1 92.6 72.6 130.6 164.7 152.1 139.4 72.0 119.7 145.8 98.3 148.5 140.2 124.2 134.6 138.7 117.3 186.3 180.7 179.4 166.5 125.1 152.2 172.3 176.2 137.1 158.0 137.0 101.6 106.8 148.9 159.5 140.8 106.6 153.7 181.2 156.9 144.7 129.3 127.2 166.9 136.1 165.1 167.7 130.0 78.9 85.0 74.5 127.4 164.1 149.8 141.0 81.3 118.9 134.6 95.1 147.8 137.3 124.5 134.0 137.9 117.3 175.7 180.1 179.3 156.6 122.5 152.0 172.4 175.5 134.7 158.2 136.9 100.9 103.7 149.7 155.6 140.2 106.8 153.7 180.3 156.8 144.8 129.2 127.2 167.2 136.1 165.2 19.4 3.3 -5.4 -5.0 -18.9 -4.0 1.9 .7 -3.6 22.6 5.8 11.8 4.0 1.0 -6.2 5.2 -3.4 4.4 .1 .7 -3.5 1.4 1.7 -17.5 .9 -4.7 .3 -2.3 1.4 .2 -8.2 -8.1 .7 -2.7 -2.4 -.5 1.6 -.7 .5 .2 -.5 1.0 2.0 .4 1.9 -5.5 -6.9 -5.1 -8.2 2.6 -2.5 -.4 -1.5 1.1 12.9 -.7 -7.7 -3.3 -.5 -2.1 .2 -.4 -.6 0 -5.7 -.3 -.1 -5.9 -2.1 -.1 .1 -.4 -1.8 .1 -.1 -.7 -2.9 .5 -2.4 -.4 .2 0 -.5 -.1 .1 -.1 0 .2 0 .1 1.6 -7.8 5.7 5.5 -1.0 0 .1 -1.3 .4 5.7 .8 -4.0 -2.8 .7 -2.6 -.6 -.5 -2.2 -.2 11.2 -.8 .4 12.6 -2.2 -.6 -.7 .5 9.7 -.1 .1 -.1 1.7 .4 -.4 -.5 0 .3 .2 .1 -.1 0 .4 .3 .2 .1 -10.3 -13.1 2.3 6.6 -4.6 -.8 .5 .9 -.1 7.3 1.2 -9.0 1.7 -.7 -1.1 .4 .1 .2 0 .6 -.6 .5 .5 -2.9 .1 -.7 .2 -1.3 -.4 .1 -.6 -1.8 -.4 .1 .1 .2 -.3 .6 .1 0 -.4 -.2 .1 .1 0 -5.5 -5.5 -5.6 -8.1 2.6 -2.5 -.2 -1.5 1.1 12.9 -.3 -5.8 -3.3 -.5 -2.1 .2 -.9 -.6 0 -5.7 -.1 -.1 -5.9 -2.1 -.1 .1 -.4 -1.8 .1 0 -.7 -2.9 .5 -2.4 -.4 .2 .1 -.4 -.2 .1 -.1 0 .2 0 .1 11-49-05 11-71 11-73 11-75 11-78 11-94 11-95 13-11 13-22 13-3 13-6 13-7 13-8 14-12 14-23 14-25 15-42 15-6 | Ball and roller bearings............................| | 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/...................................| | | | 01-51-01-01| 01-92-01-01| 04-19 | 05-1 | 05-31 | 05-61 | 08-5 | 09-12 | 10-11 | | CRUDE NONFOOD MATERIALS..............................| | Raw cotton..........................................| Leaf tobacco 2/.....................................| Hides and skins (June 2001=100) 2/..................| Coal 2/.............................................| Natural gas 2/......................................| Crude petroleum 2/..................................| Logs, timber, etc...................................| Wastepaper 2/.......................................| Iron ore 2/.........................................| 169.4 154.0 147.0 155.8 95.1 143.7 140.1 111.7 148.8 150.7 104.6 160.1 132.4 113.5 144.8 147.9 126.1 147.6 169.1 154.3 146.9 157.5 93.9 143.8 140.7 112.1 149.8 151.0 106.1 146.6 134.2 113.2 144.7 147.2 129.3 148.1 169.2 154.4 147.2 157.3 93.4 143.8 140.5 112.3 150.5 152.0 107.1 145.0 133.2 112.8 144.7 147.1 129.3 148.1 .1 .7 .7 2.9 -4.4 -.3 1.8 1.4 -.2 2.7 .8 -27.8 4.5 -.6 2.6 .5 3.7 1.6 .1 .1 .2 -.1 -.5 0 -.1 .2 .5 .7 .9 -1.1 -.7 -.4 0 -.1 0 0 .2 0 0 1.2 -.7 .1 .2 .6 .2 .7 -.3 -6.0 2.2 .2 .2 -.2 -.1 0 -.9 0 0 .2 -.4 .1 .6 -.1 -.1 -.9 .2 .5 -.1 -.1 0 .1 -.8 .2 -.2 .1 .3 0 -.5 -.3 -.1 .2 .6 .7 1.0 -1.1 -.7 -.4 .1 .3 0 0 132.2 122.8 116.1 -5.4 -5.5 -2.3 -6.0 -5.3 109.1 109.7 109.6 10.4 -.1 -1.1 -.1 .6 89.1 81.6 118.6 75.9 138.2 104.5 103.6 76.2 111.8 87.1 72.4 111.7 87.2 140.4 108.7 121.1 80.8 109.7 82.8 79.2 107.7 87.1 143.0 108.4 122.0 87.0 110.9 3.9 21.3 5.4 6.1 10.3 -10.9 29.1 7.7 14.3 -4.9 9.4 -3.6 -.1 1.9 -.3 .7 7.7 1.1 9.4 -6.2 -4.5 -5.9 -3.1 -2.9 10.4 4.4 -1.0 -4.3 2.0 -1.1 2.5 -2.2 -2.2 3.4 5.6 -2.2 -4.9 16.2 -3.6 7.5 -4.1 -2.8 -3.4 7.7 1.1 143.3 127.4 116.3 -13.5 -8.7 -2.9 -9.2 -8.7 81.2 107.0 (3) 94.7 215.8 73.1 184.0 162.5 96.3 63.3 (3) 100.0 91.7 164.4 78.3 187.6 135.2 96.3 62.5 (3) 91.3 96.0 133.2 74.3 184.8 135.7 96.3 -28.7 (3) (3) 7.4 -21.9 -10.8 -5.2 -56.7 1.5 -1.3 (3) -8.7 4.7 -19.0 -5.1 -1.5 .4 0 -7.3 (3) (3) 2.1 -7.2 1.8 1.3 -7.2 0 -7.5 (3) (3) -6.6 -19.1 1.2 2.3 -3.4 0 .8 (3) -8.7 4.7 -19.0 -5.1 -.8 .4 0 10-12 | Iron and steel scrap 2/.............................| 120.3 119.3 123.9 -8.6 3.9 -.3 -.4 3.9 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 64.8 63.9 63.0 -7.4 -1.4 2.7 -.9 -1.4 10-23-01 | Copper base scrap 2/................................| 121.9 118.5 114.1 -6.7 -3.7 -2.0 -.7 -3.7 10-23-02 | Aluminum base scrap.................................| 168.6 165.0 155.8 -10.7 -5.6 .2 -.6 -6.1 13-21 | Construction sand, gravel, and crushed stone........| 167.7 169.1 169.5 3.4 .2 .2 .3 .2 ____________________________________________________________________________________________________________________________________ 1/ The indexes for March 2001 have been recalculated to incorporate 2/ Not seasonally adjusted. late reports and corrections by respondents. All indexes are subject 3/ Not available. 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 |March 2001 | June 2001 | July 2001 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 395.5 | 398.7 | 394.9 | | All commodities................................| 135.9 | 135.7 | 133.9 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 126.7 | 127.3 | 127.1 | 01 | Farm products................................| 107.3 | 105.8 | 104.5 | 02 | Processed foods and feeds....................| 136.3 | 138.0 | 138.3 | | | | | | | Industrial commodities.........................| 137.7 | 137.3 | 135.1 | 03 | Textile products and apparel.................| 122.0 | 121.3 | 121.2 | 04 | Hides, skins, leather, and related products..| 159.5 | 164.3 | 160.5 | 05 | Fuels and related products and power 2/......| 111.3 | 110.1 | 103.0 | 06 | Chemicals and allied products 2/.............| 155.4 | 153.5 | 151.8 | 07 | Rubber and plastic products..................| 127.5 | 127.8 | 127.8 | 08 | Lumber and wood products.....................| 172.8 | 180.6 | 176.4 | 09 | Pulp, paper, and allied products.............| 185.5 | 184.9 | 184.7 | 10 | Metals and metal products....................| 126.6 | 125.8 | 125.4 | 11 | Machinery and equipment......................| 123.9 | 123.9 | 123.8 | 12 | Furniture and household durables.............| 133.1 | 133.0 | 132.8 | 13 | Nonmetallic mineral products.................| 143.6 | 143.7 | 144.0 | 14 | Transportation equipment.....................| 145.1 | 144.4 | 144.7 | 15 | Miscellaneous products.......................| 178.3 | 182.4 | 182.5 | | | | | | | Industrial commodities less fuels and related | | | | 01-1 01-2 01-3 01-4 01-5 01-7 01-8 01-83 01-9 02-1 02-2 02-22 02-5 02-6 02-63 02-7 03-81 04-4 05-3 05-4 05-7 06-3 06-5 06-7 07-1 07-11 07-13 07-2 08-1 09-1 09-15 10-1 10-2 10-25 11-3 11-4 11-6 11-7 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | products and power...........................| | | OTHER COMMODITY GROUPINGS | | Fruits and melons, fresh and dry vegetables, | and tree nuts................................| Grains.........................................| Slaughter livestock............................| Slaughter poultry..............................| Plant and animal fibers........................| Chicken eggs...................................| Hay, hayseeds, and oilseeds....................| Oilseeds.......................................| Other farm products............................| Cereal and bakery products.....................| Meats, poultry, and fish.......................| Processed poultry..............................| Sugar and confectionery........................| Beverages and beverage materials...............| Packaged beverage materials....................| Fats and oils..................................| Apparel........................................| Other leather and related products.............| Gas fuels 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........| Special industry machinery.....................| Electrical machinery and equipment.............| 143.6 122.7 84.0 107.9 129.3 80.5 103.0 101.9 86.9 159.6 161.1 126.4 114.1 135.5 146.2 126.5 104.5 127.0 147.1 196.7 134.3 85.9 262.1 140.7 139.4 116.8 123.6 139.8 135.7 169.5 159.6 164.4 110.6 127.5 144.0 150.4 152.1 164.9 118.1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 143.6 113.3 77.6 106.0 131.9 63.4 79.1 108.2 91.1 'N.A.' 162.3 126.9 116.7 135.3 145.9 124.5 105.1 126.2 147.5 152.7 142.3 96.2 261.5 132.9 139.9 116.7 123.6 140.1 136.1 182.6 157.9 164.9 109.9 124.9 142.8 151.4 152.8 165.1 117.7 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 143.2 99.4 81.0 102.9 133.8 62.7 82.0 114.1 97.3 'N.A.' 162.7 127.1 116.3 135.2 145.5 124.5 107.7 126.4 147.5 124.1 146.0 84.4 261.7 129.0 139.7 117.2 123.9 140.0 136.0 175.1 157.4 164.3 109.8 123.3 142.4 150.5 152.8 165.4 117.4 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 11-9 | Miscellaneous machinery and equipment..........| 135.4 | 135.9 | 136.2 | 12-6 | Other household durable goods..................| 157.1 | 157.1 | 157.0 | 13-2 | Concrete ingredients...........................| 157.9 | 159.1 | 159.6 | 14-1 | Motor vehicles and equipment...................| 131.9 | 130.5 | 130.6 | 15-1 | Toys, sporting goods, small arms, etc..........| 133.2 | 133.1 | 133.0 | 15-4 | Photographic equipment and supplies............| 109.6 | 111.8 | 111.8 | 15-9 | Other miscellaneous products...................| 137.9 | 139.2 | 139.2 | __________________________________________________________|___________|___________|___________| 1/ Data for March 2001 have been revised to reflect the availability of late reports and corrections by respondents. All data are subject to revision 4 months after original publication. 2/ Prices of some items in this grouping are lagged 1 month. Table 4. Producer price indexes for the net output of major industry groups, not seasonally adjusted __________________________________________________________________________________________________________________ | | | Index | Percent change Industry | Industry 1/ |Index|_______________________|to_July_2001_from: code | |base | | | | | | | |Mar. |June |July | July | June | | |2001 2/|2001 2/|2001 2/| 2000 | 2001 __________________|______________________________________________|_____|_______|_______|_______|________|_________ | | | |Total mining industries...................... |12/84| 131.2 115.5 103.4 -12.4 -10.5 10 | Metal mining................................ |12/84| 71.5 71.0 70.4 -4.7 -.8 12 | Coal mining................................. |12/85| 89.5 87.7 90.9 6.2 3.6 13 | Oil and gas extraction...................... |12/85| 150.4 129.6 112.9 -15.0 -12.9 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 140.4 141.8 141.6 2.9 -.1 | | | |Total manufacturing industries............... |12/84| 134.5 136.0 134.6 .5 -1.0 20 | Food and kindred products................... |12/84| 131.8 133.8 133.9 3.5 .1 21 | Tobacco manufactures........................ |12/84| 372.3 391.7 391.1 14.3 -.2 22 | Textile mill products....................... |12/84| 117.2 117.2 116.9 .2 -.3 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 125.9 125.7 125.9 0 .2 24 | Lumber and wood products, except furniture.. |12/84| 154.7 161.3 158.2 .4 -1.9 25 | Furniture and fixtures...................... |12/84| 144.7 145.2 145.3 1.3 .1 26 | Paper and allied products................... |12/84| 147.1 146.8 146.4 -.6 -.3 27 | Printing, publishing, and allied industries. |12/84| 188.0 188.4 188.6 2.9 .1 28 | Chemicals and allied products............... |12/84| 161.6 160.0 158.8 .9 -.8 29 | Petroleum refining and related products..... |12/84| 106.6 116.9 103.8 -10.3 -11.2 30 | Rubber and miscellaneous plastic products... |12/84| 126.1 126.4 126.5 1.2 .1 31 | Leather and leather products................ |12/84| 141.1 142.6 141.9 3.2 -.5 32 33 34 | Stone, clay, glass, and concrete products... |12/84| 135.6 135.7 135.9 .8 .1 | Primary metal industries.................... |12/84| 117.5 116.5 116.1 -3.5 -.3 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 130.8 131.1 131.1 .6 0 35 | Machinery, except electrical................ |12/84| 117.9 118.1 118.1 .4 0 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 107.6 107.3 106.9 -1.5 -.4 37 | Transportation equipment.................... |12/84| 137.8 137.1 137.3 .9 .1 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 126.9 127.4 127.2 .8 -.2 39 | Miscellaneous manufacturing industries...... |12/85| 132.1 132.5 132.7 1.4 .2 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 104.0 104.1 104.3 1.7 0.2 42 | Motor freight transportation and warehousing |06/93| 122.6 123.2 123.3 3.7 .1 43 | United States Postal Service................ |06/89| 141.3 141.3 145.4 7.5 2.9 44 | Water transportation........................ |12/92| 126.6 130.3 131.8 5.3 1.2 45 | Transportation by air....................... |12/92| 156.3 156.6 157.6 6.8 .6 46 | Pipe lines, except natural gas.............. |12/86| 108.9 109.0 110.9 8.2 1.7 54 | Food stores................................. |12/99| 108.4 109.4 110.7 5.2 1.2 59 | Miscellaneous retail........................ |06/00| 102.3 100.6 101.8 1.3 1.2 80 | Health services............................. |12/94| 115.7 116.1 116.3 2.8 .2 81 | Legal services.............................. |12/96| 117.2 117.5 118.4 5.4 .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 March 2001 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 | | | | | | | Feb. | Mar. | Apr. | May | June | July | 2001 | 2001 | 2001 | 2001 | 2001 | 2001 _______________________________________________________|________|________|________|________|________|________ | Finished goods...................................| 141.7 141.6 142.1 142.2 141.7 140.4 Finished consumer goods........................| 143.0 142.7 143.3 143.5 142.8 140.9 Finished consumer foods......................| 140.2 141.4 142.1 141.5 141.7 140.9 Crude......................................| Processed..................................| 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.......................| 135.9 140.5 144.0 146.7 133.4 139.3 140.0 139.0 137.0 141.7 143.1 145.3 133.8 139.5 140.1 139.2 137.9 142.4 143.6 145.9 134.0 139.9 140.4 139.6 130.3 142.4 144.1 146.7 133.8 139.7 140.3 139.4 123.3 143.1 143.1 145.3 133.8 139.9 140.5 139.6 113.5 143.1 140.7 141.8 134.1 140.2 140.6 140.0 131.7 128.8 121.1 135.6 126.6 126.5 150.1 111.8 111.2 111.8 153.2 138.7 145.4 135.9 98.3 140.5 131.3 129.0 122.8 135.8 126.5 126.5 150.3 109.2 108.6 109.2 153.3 138.7 145.6 135.8 95.5 140.7 131.1 128.7 123.7 135.1 125.9 126.5 150.3 108.6 108.3 108.4 153.3 139.0 146.6 135.9 93.2 141.0 131.2 128.5 124.2 134.1 126.9 126.4 151.5 108.7 107.5 108.9 153.8 139.0 146.3 136.0 93.2 141.2 131.1 128.2 125.5 133.3 126.4 126.4 151.6 108.6 106.8 109.3 154.0 138.8 145.8 135.9 95.0 140.8 129.8 127.5 125.7 131.8 125.3 126.3 150.9 104.4 106.2 103.1 153.6 138.8 145.7 135.8 96.8 140.6 141.8 105.9 161.4 111.5 102.7 179.3 216.8 216.5 220.7 132.3 109.5 143.2 106.0 97.4 180.9 182.9 182.0 186.2 132.8 108.8 144.5 106.0 97.5 181.0 185.8 184.4 189.2 129.7 107.6 140.3 106.8 98.2 182.9 175.0 173.1 178.3 121.9 107.5 127.4 107.3 98.6 184.9 144.7 143.8 147.3 115.4 108.1 116.3 104.2 95.7 183.4 123.5 121.2 126.0 142.1 132.7 114.1 163.9 141.6 132.3 114.5 145.5 142.0 132.0 114.3 147.3 142.3 132.2 114.6 143.1 141.6 131.9 116.1 129.7 140.1 130.5 116.8 118.1 104.7 146.6 102.2 147.1 103.0 147.5 103.2 147.6 100.6 147.7 94.8 147.7 Finished consumer goods less energy..............| 149.7 150.3 150.8 150.9 151.0 150.8 | Finished goods less foods and energy.............| 149.2 149.4 149.7 150.0 150.1 150.4 Finished consumer goods less foods and energy....| 155.8 156.1 156.3 157.0 157.0 157.2 Consumer nondurable goods less foods and energy..| 173.5 173.7 174.0 175.3 175.5 175.5 | Intermediate energy goods........................| 111.4 108.7 108.1 108.2 108.1 104.0 Intermediate materials less energy...............| 135.9 136.0 135.9 136.0 135.9 135.3 Intermediate materials less foods and energy.....| 137.3 137.4 137.3 137.5 137.1 136.5 | Crude energy materials 2/........................| 165.3 142.1 145.2 139.8 123.1 109.0 Crude materials less energy......................| 113.6 115.8 114.2 113.2 113.0 113.2 Crude nonfood materials less energy 3/...........| 136.6 135.2 130.7 130.5 130.3 129.1 _____________________________________________________________________________________________________________ 1/ 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 March 2001 have been recalculated to incorporate late reports and corrections by respondents. 2/ Includes crude petroleum. 3/ Excludes crude petroleum. Technical Note Brief Explanation of Producer Price Indexes The term Producer Price Index (PPI) refers to a family of indexes that measure the average change over time in the selling prices received by domestic producers of goods and services. PPIs measure price change from the perspective of the seller. This contrasts with other measures, such as the Consumer Price Index (CPI); CPIs measure price change from the purchaser's perspective. Sellers' and purchasers' prices may differ due to government subsidies, sales and excise taxes, and distribution costs. More than 10,000 PPIs for individual products and groups of products are released each month. PPIs are available for the products of virtually every industry in the mining and manufacturing sectors of the U.S. economy. New PPIs are gradually being introduced for the products of industries in the transportation, utilities, trade, finance, and services sectors of the economy. More than 100,000 price quotations per month are organized into three sets of producer price indexes: (1) stage-of-processing indexes; (2) commodity indexes; and (3) indexes for the net output of industries and their products. The stage-of-processing structure (tables 1, 2, and 5) organizes products by class of buyer and degree of fabrication. The commodity structure (tables 2 and 3) organizes products by similarity of end-use or material composition. The entire output of various industries is sampled to derive price indexes for the net output of industries and their products (table 4). Within the stage-of-processing system, finished goods are commodities that will not undergo further processing and are ready for sale to the final demand user, either an individual consumer or business firm. Consumer foods include unprocessed foods such as eggs and fresh vegetables, as well as processed foods such as bakery products and meats. Other finished consumer goods include durable goods such as automobiles, household furniture, and appliances; and nondurable goods such as apparel and home heating oil. Capital equipment includes producer durable goods such as heavy motor trucks, tractors, and machine tools. The stage-of-processing category for intermediate materials, supplies, and components consists partly of commodities that have been processed but require further processing. Examples of such semifinished goods include flour, cotton yarn, steel mill products, and lumber. The intermediate goods category also encompasses nondurable physically complete items purchased by business firms as inputs for their operations. Examples include diesel fuel, belts and belting, paper boxes, and fertilizers. Crude materials for further processing are products entering the market for the first time that have not been manufactured or fabricated and that are not sold directly to consumers. Crude foodstuffs and feedstuffs include items such as grains and livestock. Examples of crude nonfood materials include raw cotton, crude petroleum, coal, hides and skins, and iron and steel scrap. Producer price indexes for the net output of industries and their products are grouped according to the Standard Industrial Classification (SIC). Industry price indexes are compatible with other economic time series organized by SIC codes, such as data on employment, wages, and productivity. Table 4 lists indexes for the net output of major mining and manufacturing industry groups at the 2-digit level. Producer price indexes are based on selling prices reported by establishments of all sizes selected by probability sampling, with the probability of selection proportionate to size. Individual items and transaction terms from these firms are also chosen by probability proportionate to size. BLS strongly encourages cooperating companies to supply actual transaction prices at the time of shipment to minimize the use of list prices. Prices are normally reported by mail questionnaire for the Tuesday of the week containing the 13th. Price data are provided on a voluntary and confidential basis; no one but sworn BLS employees are allowed access to individual company price reports. The Bureau publishes price indexes instead of unit dollar prices. All producer price indexes are routinely subject to revision once, 4 months after original publication, to reflect the availability of late reports and corrections by respondents. The BLS periodically updates the PPI sample of survey respondents to better reflect current conditions when the structure, membership, technology, or product mix of an industry shifts significantly and to spread reporting burden among smaller firms. Results of these resampling efforts are incorporated into the PPI every January and July. As part of an ongoing effort to expand coverage to sectors of the economy other than mining and manufacturing, an increasing number of service sector industries have been introduced into the PPI. The following list of recently introduced service industries includes the month in which an article describing the industry's content appeared in the PPI Detailed Report: Industry SIC Wireless Telecommunications 4812 Telephone Communications, Except Radio Telephone 4813 Grocery Stores 5411 Meat and Fish (Seafood) Markets, 5421 Fruit and Vegetable Markets 5431 Candy, Nut, and Confectionery Stores 5441 Retail Bakeries 5461 Miscellaneous Food Stores 5499 New Car Dealers 5511 Miscellaneous Retail 59 Security Brokers, Dealers, and Investment Bankers 6211 Life Insurance Carriers 6311 Property and Casualty Insurance 6331 Operators and Lessors of Nonresidential Buildings 6512 Real Estate Agents and Managers 6531 Prepackaged Software 7372 Home Health Care Services 8082 PPI Detailed Report Issue July 1999 July 1995 July 2000 July 2000 July 2000 July 2000 July 2000 July 2000 July 2000 January 2001 January 2001 January 1999 July 1998 January January January January 1996 1996 1998 1997 Legal Services Engineering, Design, Analysis, and Consulting Services Architectural, Design, Analysis, and Consulting Services Premiums for Property and Casualty Insurance 8111 January 1997 8711 January 1997 8712 January 1997 9331 July 1998 Weights for most traditional commodity groupings of the PPI, as well as all indexes (such as stage-of-processing indexes) calculated from traditional commodity groupings, currently reflect 1992 values of shipments as reported in the Census of Manufactures and other sources. From January 1992 through December 1995, PPI weights were derived from 1987 shipment values. Industry indexes shown in table 4 are also now calculated with 1992 net output weights. This periodic update of the value weights used to calculate the PPI is done to more accurately reflect changes in production and marketing patterns in the economy. Net output values of shipments are used as weights for industry indexes. Net output values refer to the value of shipments from establishments in one industry to establishments classified in another industry. However, weights for commodity price indexes are based on gross shipment values, including shipment values between establishments within the same industry. As a result, broad commodity grouping indexes such as the all commodities index are affected by the multiple counting of price change at successive stages of processing, which can lead to exaggerated or misleading signals about inflation. Stage-of-processing indexes partially correct this defect, but industry indexes consistently correct for this at all levels of aggregation. Therefore, industry and stage-of-processing indexes are more appropriate than broad commodity groupings for economic analysis of general price trends. Effective with publication of January 1988 data, many important PPI series (including stage-of-processing groupings and most commodity groups and individual items) were placed on a new reference base, 1982=100. From 1971 through 1987, the standard reference base for most PPI series was 1967=100. Except for rounding differences, the shift to the new reference base did not alter any changes to previously published percent changes for affected PPI series. (See "Calculating Index Changes," below.) The new reference base is not used for indexes with a base later than December 1981, nor for indexes for the net output of industries and their products. For further information on the underlying concepts and methodology of the Producer Price Index, see chapter 14, "Producer Prices," in BLS Handbook of Methods (April 1997), Bulletin 2490. Reprints are available from the Bureau of Labor Statistics on request. Calculating Index Changes Each index measures price changes from a reference period which equals 100.0 (1982 or some later month). An increase of 5.5 percent from the reference period in the Finished Goods Price Index, for example, is shown as 105.5. This change can also be expressed in dollars as follows: "Prices received by domestic producers of a systematic sample of finished goods have risen from $100 in 1982 to $105.50 today." Likewise, a current index of 90.0 would indicate that prices received by producers of finished goods today are 10 percent lower than they were in 1982. Movements of price indexes from one month to another are usually expressed as percent changes rather than as changes in index points because index point changes are affected by the level of the index in relation to its base period, whereas percent changes are not. The example below shows the computation of index point and percent changes. Index point change Finished Goods Price Index Less previous index Equals index point change 107.5 104.0 3.5 Index percent change Index point change Divided by the previous index Equals Result multiplied by 100 Equals percent change 3.5 104.0 0.034 0.034 x 100 3.4 Seasonally Adjusted and Unadjusted Data Because price data are used for different purposes by different groups, the Bureau of Labor Statistics publishes seasonally adjusted and unadjusted changes each month. Seasonally adjusted data are preferred for analyzing general price trends in the economy because they eliminate the effect of changes that normally occur at about the same time and in about the same magnitude every year--such as price movements resulting from normal weather patterns, regular production and marketing cycles, model changeovers, seasonal discounts, and holidays. For these reasons, seasonally adjusted data more clearly reveal underlying cyclical trends. Unadjusted data are of primary interest to users who need information that can be related to actual dollar values of transactions. Individuals requiring this information include marketing specialists, purchasing agents, budget and cost analysts, contract specialists, and commodity traders. It is the unadjusted data that are generally cited in escalating long-term contracts such as purchasing agreements or real estate leases. (See Escalation and Producer Price Indexes: A Guide for Contracting Parties, BLS Report 807, September 1991, available on request from BLS.) For more information, see (1) "Appendix A: Seasonal Adjustment Methodology at BLS," in the BLS Handbook of Methods (April 1997), Bulletin 2490 and (2) "Summary of Changes to the PPI's Seasonal Adjustment Methodology" in the January 1995 issue of Producer Price Indexes.
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