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FOR DATA ONLY: (202) 606-7828 FOR TECHNICAL INFORMATION: (202) 606-7705 MEDIA CONTACT: (202) 606-5902 http://stats.bls.gov/ppihome.htm USDL 98-286 TRANSMISSION OF MATERIAL IN THIS RELEASE IS EMBARGOED UNTIL 8:30 A.M. (E.D.T), FRIDAY, JULY 10, 1998 Producer Price Indexes -- June 1998 The Producer Price Index for Finished Goods decreased 0.1 percent in June, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This decrease follows increases of 0.2 percent in both May and April. The index for finished goods other than foods and energy rose 0.2 percent for the third consecutive month. Prices received by producers of intermediate goods fell 0.3 percent in June, after inching down 0.1 percent in May. The crude goods index fell 1.4 percent, following a 0.3-percent decline in the prior month. (See table A.) Table A. Monthly and annual percent changes in selected stage-ofprocessing price indexes, seasonally adjusted Finish ed goods Except Month 1997 June July Aug. Sept. Oct. Nov. Dec. Total -0.2 -0.2 0.2 0.4 0 -0.2 -0.2 Foods -0.8 -0.3 -0.1 0 0.7 -0.3 0 foods and Energy energy -0.2 -0.5 0.9 1.1 -0.5 -0.4 -0.6 0.0 -0.1 0.1 0.4 -0.1 -0.1 -0.1 Change in finished goods from 12 months ago (unadj.) -0.1 -0.2 -0.2 0 -0.3 -0.7 -1.2 IntermediateCrude goods goods -0.1 -0.2 0.1 0.2 -0.1 0.2 -0.2 -2.7 -0.5 0.4 1.3 4.6 1.6 -5.6 1998 Jan. -0.6 -0.4 -3.7 0 -1.7 -0.6 -5.8 Feb. r-0.1 0.2 r-1.8 0.1 r-1.5 r-0.3 r-1.9 Mar. r-0.4 -0.4 r-2.1 0 -1.8 r-0.4 r-1.3 Apr. 0.2 0.4 -0.1 0.2 -1.2 0 1.0 May 0.2 -0.3 0.8 0.2 -0.9 -0.1 -0.3 June -0.1 0.1 -1.7 0.2 -0.8 -0.3 -1.4 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for February 1998 have been revised to reflect the availability of late reports and corrections by respondents. Among finished goods, the index for finished energy goods turned down, after increasing in May. Prices for finished consumer goods other than foods and energy rose less than a month ago. By contrast, the index for finished consumer foods turned up, after declining in the previous month. Prices for capital equipment showed no change, following a decrease in May. During the first six months of 1998, the Finished Goods Price Index fell at a seasonally adjusted annual rate of 1.5 percent, after showing no change in the last half of 1997. Prices for finished consumer foods declined at a seasonally adjusted annual rate of 0.6 percent during the first six months of 1998, after showing no change from June 1997 to December 1997. The index for finished goods less foods and energy rose at a 1.4-percent seasonally adjusted annual rate in the first half of 1998, after advancing at a 0.1-percent rate from June 1997 to December 1997. Prices for finished energy goods declined at a 15.9-percent seasonally adjusted annual rate in the first half of 1998, after showing no change in the second half of 1997. The Intermediate Goods Price Index fell at a 3.5percent seasonally adjusted annual rate from December 1997 to June 1998, after moving down at a 0.2-percent rate for the last six months of 1997. The Crude Goods Price Index decreased at a 17.9-percent seasonally adjusted annual rate in the first half of 1998, following a 3.2-percent rate of increase in the previous six months. Table B. Monthly and annual percent changes in selected price indexes for intermediate goods and crude goods, seasonally adjusted Interm Crude ediate goods goods Change in Change in intermedi crude ate Exclud goods Excludi goods ing from ng Month 1997 June July Aug. Sept. Oct. Nov. Dec. Foods -1.3 -1.7 -0.4 1.1 -2.4 1.6 -0.6 foods 12 months and ago Energy energy (unadj.) 0.1 -0.9 0.6 0.6 0.6 0 -1.5 0.0 0.1 0 0.1 -0.1 0.1 0 -0.3 -0.3 -0.2 -0.6 -0.4 -0.2 -0.8 Energy foods and Foods (unadj energy .) -4.7 -0.6 -0.4 -0.3 1.1 -0.1 0 -2.0 -0.1 0.8 4.4 11.5 4.6 -13.2 -0.2 -0.5 1.3 -0.7 -0.1 -0.4 -1.6 from 12 months ago (unadj.) -5.5 -7.4 -7.3 -3.9 1.3 -0.1 -11.3 1998 Jan. -3.6 -2.9 -0.1 -1.7 -3.4 -11.2 -1.9 -19.5 Feb. r-0.3 r-1.7 -0.1 r-1.8 -0.7 r-4.3 r-0.3 r-13.8 Mar. r-1.3 r-1.9 -0.1 -1.8 r0.6 r-3.5 r-1.7 -7.8 Apr. -0.7 0.5 0 -1.6 0.3 3.5 -0.9 -7.3 May 0 -0.6 -0.1 -1.6 -1.4 0.6 0.5 -9.2 June -0.4 -1.7 -0.1 -1.9 0.1 -3.9 -0.5 -8.0 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for February 1998 have been revised to reflect the availability of late reports and corrections by respondents. Before seasonal adjustment, the Producer Price Index for Finished Goods rose 0.2 percent in June to 130.6 (1982=100). From June 1997 to June 1998, the Finished Goods Price Index decreased 0.8 percent. Over the past 12 months, prices for finished energy goods declined 8.3 percent, and the index for finished consumer foods fell 0.3 percent. By contrast, prices for finished goods other than foods and energy rose 0.8 percent from its year-ago level. Prices received by domestic producers of intermediate goods declined 1.9 percent for the 12 months ended in June, and the index for crude goods fell 8.0 percent during the same period. Finished goods The index for finished energy goods decreased 1.7 percent in June, after rising 0.8 percent in May. This was the eighth decline in the finished energy index over the last nine months. Prices for residential electric power moved down 0.9 percent, after showing no change in the prior month. The index for gasoline showed no change, following a 4.3-percent gain in the previous month. The indexes for residential natural gas and home heating oil fell more than in May. In June, the index for finished consumer goods other than foods and energy increased 0.3 percent, after advancing 0.5 percent in the previous month. On a seasonally adjusted annual rate basis, this index rose 2.6 percent for the first half of 1998, compared with a 0.7-percent rate of increase in the latter half of 1997. In June, prices for prescription drugs rose 3.2 percent, after jumping 10.7 percent in May. The indexes for tobacco products and periodical circulation also rose less than in the prior month. Prices for home electronic equipment and book publishing were unchanged in June, after increasing in May. On the other hand, prices for passenger cars turned up 0.3 percent, following a 1.7-percent decline in the previous month. The indexes for alcoholic beverages and for tires and tubes also rose after decreasing in May. Prices for light motor trucks fell less than a month ago. The index for household appliances increased more than in May. The index for capital equipment showed no change in June, after decreasing 0.2 percent in May. This index moved down at a seasonally adjusted annual rate of 0.4 percent in the first half of 1998, following a 0.7-percent rate of decline in the last half of 1997. In June, price increases for printing trades machinery, heavy motor trucks, pumps and compressors, and construction machinery offset price decreases for light motor trucks, electronic computers, communication equipment, and civilian aircraft. Prices for finished consumer foods moved up 0.1 percent in June, following a 0.3-percent decline a month earlier. The index for eggs for fresh use advanced 20.3 percent, after decreasing 0.5 percent in the prior month. Prices for processed young chickens, soft drinks, and processed turkeys also turned up after falling in May. The index for fresh and dry vegetables fell less than in the previous month. Prices for pork rose more than a month ago. By contrast, prices for beef and veal decreased 2.6 percent in June, following a 3.4 percent advance in May. Prices for finfish and shellfish, fresh fruits and melons, and processed fruits and vegetables also turned down, after rising in the prior month. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components declined 0.3 percent in June, following a 0.1-percent decline in May. Prices for intermediate energy goods and for materials for durable manufacturing fell more than in the previous month. The indexes for intermediate foods and feeds and for materials and components for construction decreased, after showing no change a month ago. By contrast, prices for materials for nondurable manufacturing fell less than in the prior month. Excluding foods and energy, the index for intermediate materials declined 0.1 percent, the same as in May. (See table B.) The index for intermediate energy materials declined 1.7 percent in June, following a 0.6-percent decline in May. This index decreased at a 15.4-percent seasonally adjusted annual rate during the first half of 1998, after falling at a 1.4-percent rate during the second half of 1997. In June, prices for jet fuels decreased 9.3 percent, following a 0.2-percent decrease in the previous month. The indexes for No. 2 diesel fuel, commercial natural gas, liquefied petroleum gas, and industrial natural gas fell, after rising a month ago. Prices for gasoline showed no change, after increasing last month. By contrast, the index for residual fuel advanced 4.4 percent, following a 15.1-percent decline in the prior month. Prices for industrial electric power also rose, after falling a month earlier. The index for natural gas to electric utilities rose more than in May. The index for durable manufacturing materials declined 0.8 percent in June, following a 0.6-percent decline in May. From December 1997 through June of 1998, this index fell at a 5.0-percent seasonally adjusted annual rate, after falling at a 3.4-percent rate during the latter half of 1997. In June, prices for aluminum mill shapes decreased 2.2 percent, after showing no change in the previous month. The indexes for building paper and board and for miscellaneous metal products fell, following increases a month earlier. Prices for copper cathode and refined copper, copper and brass mill shapes, and plywood fell more than in the prior month. By contrast, the index for hot rolled sheet and strip advanced 0.5 percent, following a 0.8-percent decline a month ago. Prices for hardwood lumber also rose, after falling in May. The index for cold rolled sheet and strip fell less than in the previous month. The index for intermediate foods and feeds declined 0.4 percent in June, after showing no change in May. Prices for this category decreased at a 11.9-percent seasonally adjusted annual rate during the first six months of 1998, after falling at a 4.8-percent rate during the last six months of 1997. In June, the index for beef and veal declined 2.6 percent, following a 3.4-percent advance in the previous month. Prices for crude vegetable oils and for fluid milk products also fell, after rising a month ago. The indexes for flour and for dry, condensed, and evaporated milk products fell more than in May. By contrast, prices for prepared animal feeds declined 0.2 percent, following a 2.4-percent decline in the prior month. The indexes for natural, processed, and imitation cheese and for refined sugar rose, after falling a month earlier. Prices for pork rose more than in May. The index for materials and components for construction declined 0.1 percent in June, after showing no change in May. This index advanced at a 0.3-percent seasonally adjusted annual rate during the first half of 1998, after declining at a 0.5-percent rate during the second half of 1997. In June, falling prices for softwood lumber, plastic construction materials, plywood, plumbing fixtures and brass fittings, asphalt felts and coatings, and steel wire slightly outweighed rising prices for fabricated structural metal products, wiring devices, switchgear and switchboard equipment, nonferrous wire and cable, and cement. The index for materials for nondurable manufacturing declined 0.1 percent in June, following a 0.2-percent decline in May. This index declined at a 3.2-percent seasonally adjusted annual rate during the first six months of 1998, after advancing at a 1.2-percent rate during the last six months of 1997. In June, falling prices for plastic resins and materials, basic organic chemicals, paper, gray fabrics, processed yarns and threads, and alkalies and chlorine slightly outweighed rising prices for fertilizer materials, medicinal and botanical chemicals, inedible fats and oils, paperboard, and leather. Crude Goods The Producer Price Index for Crude Materials for Further Processing decreased 1.4 percent in June, seasonally adjusted, following a 0.3-percent decline in May. Prices for crude energy materials and basic industrial materials fell, after rising in the previous month. On the other hand, the index for crude foodstuffs and feedstuffs rose, after falling in the prior month. (See table B.) Prices for crude energy materials dropped 3.9 percent in June, following a 0.6-percent gain in May. This index decreased at a 32.6percent seasonally adjusted annual rate during the first half of 1998, following a 13.3-percent rate of increase in the last half of 1997. In June, prices for crude petroleum turned down 12.3 percent, after rising 0.3 percent in the previous month. The index for natural gas fell 3.5 percent, following a 0.4-percent gain in the prior month. By contrast, prices for coal advanced 4.7 percent, after rising 0.7 percent a month ago. The index for crude nonfood materials less energy turned down 0.5 percent, following a 0.5-percent rise in May. This index decreased at a seasonally adjusted annual rate of 9.4 percent in the first six months of 1998, following a 4.0-percent rate of decline in the latter half of 1997. In June, the index for nonferrous metal ores dropped 3.7 percent, after rising 0.1 percent in the prior month. Prices for iron and steel scrap also fell, after rising in the previous month. The index for aluminum base scrap fell more than a month ago. On the other hand, prices for cattle hides turned up 18.4 percent, after falling 0.5 percent last month. The indexes for wastepaper and pulpwood logs fell less than in the previous month. Prices for crude foodstuffs and feedstuffs rose 0.1 percent, following a 1.4-percent decrease in May. From December 1997 through June 1998, this index fell at an 8.8-percent seasonally adjusted annual rate, after declining at a 0.5-percent rate in the second half of 1997. In June, prices for fluid milk rose 3.2 percent, after falling 6.5 percent in the prior month. The indexes for slaughter broilers and fryers, Irish potatoes for processing, and for slaughter turkeys also turned up, after falling in the previous month. On the other hand, prices for alfalfa hay fell 10.6 percent, following a 2.8 percent increase a month ago. Prices for soybeans also fell, after rising last month. The index for wheat fell more than in the prior month. Net output price indexes for mining, manufacturing, and other industries Mining. The Producer Price Index for the net output of total domestic mining industries turned down 3.8 percent in June, following a 0.4-percent rise in May. (Net output price indexes are not seasonally adjusted.) During the first half of 1998, this index declined at an annual rate of 27.0 percent, after advancing at an 8.4-percent annual rate for the latter half of 1997. In June, prices for the natural gas liquids industry group dropped 8.0 percent, after a 1.4-percent increase in the previous month. The indexes for the crude petroleum and natural gas, copper ores, and the lead and zinc ores industry groups also turned down, after rising in May. By contrast, prices for the bituminous coal and lignite mining industry group advanced 3.4 percent, following a 0.2-percent increase a month ago. The index for the industry group for metal mining services turned up, following a decline last month. In June, the Producer Price Index for the net output of total domestic mining industries stood at 71.1 (December 1984=100), which is 11.0 percent below its year-ago level. Manufacturing. The Producer Price Index for the net output of total domestic manufacturing industries decreased 0.1 percent in June, following a 0.2-percent increase in May. During the first half of 1998, this index declined at an annual rate of 1.3 percent, after decreasing at a 0.3percent annual rate for the second half of 1997. In June, prices for the petroleum refining industry group fell 3.3 percent, after rising 2.9 percent in the previous month. The indexes for the tobacco manufactures and for the chemical and allied products industry groups rose less than in the prior month. Prices for the lumber and wood products industry group fell more than a month ago. By contrast, the index for the primary metals industry group decreased 0.3 percent in June, following a 0.4-percent decline in May. Prices for the food and kindred products industry group rose more than in the previous month. The indexes for the electrical and electronic machinery and for the leather and leather products industry groups moved up in June, after showing no change last month. In June, the Producer Price Index for the net output of the total domestic manufacturing industries stood at 126.2 (December 1984=100), which is 0.8 percent below its year-ago level. Other. Among other industries in June, prices for real estate agents and managers increased 2.9 percent, following a rise of 0.1 percent in May. The indexes for cable and other pay television services, offices and clinics of doctors of medicine, and for non-local trucking also rose more than a month ago. Prices for telephone communications, prepackaged software, and scheduled air transportation turned up, after falling in the previous month. The index for legal services increased, after showing no change last month. On the other hand, prices for operators of nonresidential buildings turned down 1.2 percent, following a 0.2-percent increase in the prior month. The indexes for passenger car rental, radio broadcasting, and for airports and airport services also fell in June, after rising in May. Prices for line haul operating railroads decreased, after showing no change in the previous month. ***** Producer Price Index data for July 1998 will be released on Friday, August 14, at 8:30 a.m. (E.D.T.) ***** Information in this news release will be made available to sensory impaired individuals upon request. Voice phone: 202-606-7828; TDD phone: 202-6065897; TDD Message Referral phone: 1-800-326-2577. Table 1. Producer price indexes and percent changes by stage of processing (1982=100) _______________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | Relative | Unadjusted index |change to |percent change from: Grouping |importance| |June 1998 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | Feb. | May |June | June | May |Mar. to|Apr. to | May to | 1997 1/|1998 2/|1998 2/|1998 2/| 1997 | 1998 | Apr. | May | June _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 130.2 130.4 130.6 -0.8 0.2 0.2 0.2 -0.1 Finished consumer goods........................| 74.755 128.2 128.6 128.9 -.8 .2 .3 .2 -.1 Finished consumer foods......................| 23.199 133.6 133.5 133.6 -.3 .1 .4 -.3 .1 Crude......................................| 1.761 Processed..................................| 21.438 Finished consumer goods, excluding foods.....| 51.556 Nondurable goods less foods................| 35.297 Durable goods..............................| 16.259 Capital equipment..............................| 25.245 Manufacturing industries.....................| 6.590 Nonmanufacturing industries..................| 18.655 | Intermediate materials, supplies, and components.| 100.000 Materials and components for manufacturing.....| 47.584 Materials for food manufacturing.............| 3.500 Materials for nondurable manufacturing.......| 16.157 Materials for durable manufacturing..........| 10.575 Components for manufacturing.................| 17.352 Materials and components for construction......| 13.519 Processed fuels and lubricants.................| 13.015 Manufacturing industries ....................| 4.844 Nonmanufacturing industries..................| 8.171 Containers.....................................| 3.784 Supplies.......................................| 22.098 Manufacturing industries.....................| 4.941 Nonmanufacturing industries..................| 17.157 Feeds......................................| 1.618 Other supplies.............................| 15.539 | Crude materials for further processing...........| 100.000 Foodstuffs and feedstuffs......................| 42.088 Nonfood materials..............................| 57.912 Nonfood materials except fuel 3/.............| 33.172 Manufacturing 3/...........................| 31.843 Construction...............................| 1.329 Crude fuel 4/................................| 24.740 Manufacturing industries...................| 2.039 Nonmanufacturing industries................| 22.701 | Special groupings | | Finished goods, excluding foods..................|5/ 76.801 Intermediate materials less foods and feeds......|6/ 94.882 Intermediate foods and feeds.....................|6/ 5.118 Crude materials less agricultural products 3/ 7/.|8/ 55.307 | Finished energy goods............................|5/ 13.585 Finished goods less energy.......................|5/ 86.415 129.4 134.0 125.6 120.8 133.4 137.9 137.9 137.9 121.9 134.4 126.4 122.4 132.0 137.3 137.8 137.0 117.2 134.9 126.8 123.0 132.0 137.3 138.0 136.9 1.0 -.4 -1.0 -1.1 -1.0 -.6 .3 -.9 -3.9 .4 .3 .5 0 0 .1 -.1 1.6 .4 .2 .2 .1 .1 0 0 -6.4 .2 .6 1.1 -.6 -.2 -.1 -.2 -4.4 .4 -.2 -.2 0 0 .1 -.1 123.8 127.3 121.6 129.1 130.3 126.0 146.4 81.6 85.8 79.0 141.9 135.3 140.4 132.9 111.1 135.7 123.4 126.8 123.7 128.0 129.2 125.9 147.0 81.1 85.4 78.4 141.8 134.8 140.8 132.1 99.5 136.1 123.4 126.4 122.9 127.7 128.2 125.9 146.7 82.2 87.3 79.1 141.5 134.8 140.8 132.2 99.2 136.3 -1.9 -1.5 .2 -1.0 -4.1 -.4 -.2 -8.5 -5.3 -10.4 5.4 -.9 1.2 -1.6 -25.6 1.3 0 -.3 -.6 -.2 -.8 0 -.2 1.4 2.2 .9 -.2 0 0 .1 -.3 .1 0 -.1 .8 -.2 0 0 .2 .4 .6 .3 -.3 -.1 .3 -.2 -4.6 .1 -.1 -.1 1.2 -.2 -.6 0 0 -.4 -1.5 .3 .1 0 -.1 0 -3.0 .4 -.3 -.2 -.6 -.1 -.8 0 -.1 -1.8 -.4 -2.6 -.1 .1 0 .2 -.1 .1 100.1 105.1 93.0 93.0 84.7 202.8 85.5 83.4 87.3 100.2 106.2 92.4 88.4 80.4 200.5 90.5 89.2 92.3 98.5 105.6 90.1 85.0 77.2 196.3 89.8 87.1 91.6 -8.0 -5.1 -10.3 -15.7 -16.3 -3.0 -.7 -1.8 -.4 -1.7 -.6 -2.5 -3.8 -4.0 -2.1 -.8 -2.4 -.8 1.0 .3 1.8 1.0 1.0 .9 2.7 3.9 2.6 -.3 -1.4 .4 .9 1.0 -.6 -.1 .2 0 -1.4 .1 -2.5 -3.9 -3.9 -1.6 -.8 -2.4 -.8 129.0 124.1 118.5 92.1 129.4 123.8 116.3 91.8 129.6 123.9 115.7 89.2 -1.0 -1.4 -8.5 -10.6 .2 .1 -.5 -2.8 .2 .1 -.7 2.1 .3 -.2 0 .3 -.2 -.3 -.4 -2.8 75.9 140.3 76.3 140.5 76.7 140.6 -8.3 .5 .5 .1 -.1 .3 .8 .1 -1.7 .1 Finished consumer goods less energy..............|5/ 61.170 141.2 141.7 141.9 .9 .1 .4 .2 .1 | Finished goods less foods and energy.............|5/ 63.216 142.8 143.1 143.3 .8 .1 .2 .2 .2 Finished consumer goods less foods and energy....|5/ 37.971 146.0 146.9 147.2 1.7 .2 .3 .5 .3 Consumer nondurable goods less foods and energy..|5/ 21.712 155.3 158.2 158.8 3.7 .4 .5 1.5 .4 | Intermediate energy goods........................|6/ 13.123 81.4 80.8 81.9 -8.5 1.4 .5 -.6 -1.7 Intermediate materials less energy...............|6/ 86.877 133.2 132.9 132.6 -.8 -.2 -.1 -.1 -.1 Intermediate materials less foods and energy.....|6/ 81.759 134.2 134.0 133.7 -.4 -.2 0 -.1 -.1 | Crude energy materials 3/........................|8/ 36.418 71.7 72.0 69.2 -12.6 -3.9 3.5 .6 -3.9 Crude materials less energy......................|8/ 63.582 116.8 116.7 116.0 -5.8 -.6 -.2 -.8 -.1 Crude nonfood materials less energy 4/...........|8/ 21.494 150.7 147.5 146.8 -6.7 -.5 -.9 .5 -.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 and final December relative importances initially appear, respectively, in the release tables containing January and May data. The indexes for February 1998 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision four 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 | | |June 1998 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Feb. | May |June | June | May |Mar. to|Apr. to| May to | |1998 1/|1998 1/|1998 1/| 1997 | 1998 | Apr. | May | June ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 130.2 130.4 130.6 -0.8 0.2 0.2 0.2 -0.1 | FINISHED CONSUMER GOODS...............................| 128.2 128.6 128.9 -.8 .2 .3 .2 -.1 | FINISHED CONSUMER FOODS..............................| 133.6 133.5 133.6 -.3 .1 .4 -.3 .1 | | 01-11 | Fresh fruits and melons 2/..........................| 94.2 90.6 89.6 -3.2 -1.1 4.7 2.3 -1.1 01-13 | Fresh and dry vegetables 2/.........................| 146.4 132.8 120.9 11.1 -9.0 6.9 -20.9 -9.0 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 86.0 71.2 86.9 9.4 22.1 -13.6 -.5 20.3 02-11 02-13 02-14-02 02-21-01 02-21-04 02-22-03 02-22-06 02-23 02-3 02-4 02-55 02-62 02-63-01 02-76 | | | | | | | | | | | | | | | | | 02-61 | 03-81-01 | 03-81-02 | 03-81-03 | 03-82 | 04-3 | 05-41 | 05-51 | 05-71 | 05-73-02-01| 06-35 | 06-36 | 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 | Bakery products 2/..................................| Milled rice 2/......................................| Pasta products (June 1985=100) 2/...................| Beef and veal.......................................| Pork................................................| Processed young chickens............................| Processed turkeys...................................| Finfish and shellfish...............................| Dairy products......................................| Processed fruits and vegetables 2/..................| Confectionery end products 2/.......................| Soft drinks.........................................| Roasted coffee 2/...................................| Shortening and cooking oils 2/......................| | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| | Alcoholic beverages.................................| Women's apparel 2/..................................| Men's and boys' apparel.............................| Girls', children's, and infants' apparel 2/.........| Textile housefurnishings 2/.........................| Footwear............................................| Residential electric power (Dec. 1990=100)..........| Residential gas (Dec. 1990=100).....................| Gasoline............................................| Fuel oil No. 2......................................| Pharmaceutical preps, ethical (Prescription)........| Pharmaceutical preps,proprietary (Over-counter).....| 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 2/..................................| Household furniture 2/..............................| Floor coverings 2/..................................| Household appliances 2/.............................| Home electronic equipment 2/........................| Household glassware 2/..............................| Household flatware 2/...............................| Lawn and garden equip., ex. tractors 2/.............| Passenger cars......................................| Toys, games, and children's vehicles................| 175.3 124.7 122.1 100.1 97.6 117.6 90.0 193.0 133.1 125.4 167.9 134.7 150.3 140.4 175.8 122.2 121.6 103.7 103.8 118.5 88.8 189.7 131.5 126.0 168.3 134.0 149.9 143.0 175.7 124.0 122.1 99.9 111.2 123.8 92.3 178.3 132.8 125.8 168.4 134.5 147.0 141.8 1.2 -3.0 -3.6 -2.3 -14.0 4.8 -11.3 3.1 6.0 -.6 0 .9 -11.9 3.4 -.1 1.5 .4 -3.7 7.1 4.5 3.9 -6.0 1.0 -.2 .1 .4 -1.9 -.8 .2 -1.2 .8 4.7 2.9 .4 -.9 2.4 -1.0 0 .1 .1 .2 1.6 .1 -.2 0 3.4 4.2 -1.4 -5.0 4.9 .4 .6 .2 -.3 -1.1 .4 -.1 1.5 .4 -2.6 7.0 3.2 3.4 -3.7 .6 -.2 .1 .5 -1.9 -.8 125.6 126.4 126.8 -1.0 .3 .2 .6 -.2 135.0 122.2 132.9 122.6 122.6 144.7 109.0 114.2 55.8 54.1 282.7 185.1 126.1 131.6 94.5 145.1 202.2 192.3 202.5 147.6 128.6 108.5 76.9 161.9 139.0 131.2 133.6 124.5 134.6 121.5 132.9 121.9 123.3 144.4 110.0 112.6 58.2 51.2 319.3 184.0 126.1 132.4 93.8 144.5 202.4 193.7 205.2 148.0 128.3 108.2 76.8 163.2 140.4 131.5 129.7 124.3 134.9 121.4 133.0 121.9 123.3 144.7 113.6 110.9 57.3 46.5 328.8 184.5 126.0 133.6 94.2 143.9 202.7 193.6 205.2 148.0 127.7 108.7 76.8 163.2 139.1 131.6 129.9 124.5 -.4 .8 .2 -.6 .8 1.8 -2.5 -1.4 -19.5 -23.6 20.4 .2 -.2 2.2 -.9 -2.0 .5 3.4 3.7 1.3 .6 -1.5 -1.9 .9 .4 -1.0 -2.1 -.6 .2 -.1 .1 0 0 .2 3.3 -1.5 -1.5 -9.2 3.0 .3 -.1 .9 .4 -.4 .1 -.1 0 0 -.5 .5 0 0 -.9 .1 .2 .2 -.4 .5 .1 .2 -.3 .2 .2 .1 -.6 2.1 1.3 .7 -.2 1.0 -.2 -.5 0 -.4 .3 0 .2 -.2 -.5 .2 0 0 .2 -.2 -.3 .2 .2 -.8 .2 -.1 0 -.5 4.3 -1.1 10.7 .2 -.1 -.4 -.2 -.3 0 1.6 1.1 .1 0 .1 1.9 .1 1.0 .2 -1.7 .2 .4 -.1 .1 0 0 .3 -.9 -2.8 0 -8.1 3.2 .4 -.1 .9 .4 -.4 .1 .3 0 0 -.5 .5 0 0 -.9 .1 .3 .1 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 14-14 14-21-02 14-31 14-4 02-12-03 02-53 02-54 02-72 02-9 | 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. 1990=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 2/................| | Mining machinery and equipment 2/...................| | Office and store machines and equipment 2/..........| | Commercial furniture 2/.............................| | Light motor trucks..................................| | Heavy motor trucks 2/...............................| | Truck trailers 2/...................................| | Civilian aircraft (Dec. 1985=100)...................| | Ships (Dec. 1985=100) 2/............................| | Railroad equipment..................................| | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| | | | INTERMEDIATE FOODS AND FEEDS..........................| | | | Flour 2/............................................| | Refined sugar 2/....................................| | Confectionery materials.............................| | Crude vegetable oils 2/.............................| | Prepared animal feeds 2/............................| | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| | | 126.1 261.9 153.2 127.9 139.4 126.0 278.4 153.9 127.9 139.6 126.1 278.7 154.0 127.8 139.5 1.1 12.2 1.2 -2.2 -.3 .1 .1 .1 -.1 -.1 .1 3.4 .2 -.2 0 .1 2.8 .3 -.1 .5 .1 .1 .1 -.1 -.1 137.9 137.3 137.3 -.6 .1 -.2 0 150.1 144.9 159.6 156.0 138.7 148.5 130.5 27.2 152.8 159.4 139.3 129.2 114.8 107.5 125.6 142.0 112.3 155.2 156.4 139.6 133.8 150.1 145.5 134.5 148.7 145.2 160.1 157.6 138.8 148.9 131.0 25.2 153.1 159.9 140.3 131.1 114.6 107.4 125.8 142.3 112.5 155.4 152.9 142.0 135.4 150.4 145.7 135.0 148.8 145.3 159.8 157.5 138.8 149.1 131.1 24.9 153.1 160.0 143.3 131.0 114.4 107.0 125.7 142.3 112.6 155.1 152.3 142.3 135.7 150.4 145.7 135.1 .2 2.3 2.6 2.2 .4 1.6 1.0 -24.3 .8 1.8 3.5 .8 .7 -.2 2.4 1.6 .1 .6 -4.0 1.2 3.8 0 3.1 .6 .3 .1 -.4 .1 0 .1 .2 -2.3 -.1 .6 .4 1.2 0 .1 -.1 .2 .1 -.4 .3 .9 .1 .3 .1 .3 -.3 .3 .1 .1 0 .3 0 -2.7 0 -.4 .1 .8 -.2 .1 .1 -.4 0 .3 -1.5 .4 .2 .2 -.1 .1 .1 .1 -.2 -.1 0 .2 .1 -1.2 0 .1 2.1 -.1 -.2 -.4 -.1 0 .1 -.2 -.5 .2 .2 -.1 0 .2 123.8 123.4 123.4 -1.9 0 0 -.1 -.3 118.5 116.3 115.7 -8.5 -.5 -.7 0 -.4 110.7 120.6 95.1 131.5 117.3 112.1 120.8 93.3 143.4 107.2 109.0 122.3 93.4 130.6 107.0 -9.3 -1.5 -13.4 13.5 -21.7 -2.8 1.2 .1 -8.9 -.2 -1.1 .4 -4.8 2.4 -3.9 -.7 -.2 .1 3.5 -2.4 -2.8 1.2 .1 -8.9 -.2 124.1 123.8 123.9 -1.4 .1 .1 -.2 -.3 0 .1 .1 -.2 -.1 0 .1 .1 -1.2 0 .1 2.1 -.1 -.2 -.4 -.1 0 .1 -.2 -.4 .2 .2 0 0 .1 03-1 | Synthetic fibers 2/.................................| 111.2 111.1 111.0 0 -.1 0 .3 -.1 03-2 | Processed yarns and threads 2/......................| 113.4 113.4 113.3 -.4 -.1 -.3 -1.0 -.1 03-3 | Gray fabrics 2/.....................................| 123.4 123.0 122.8 .7 -.2 .7 -.4 -.2 03-4 | Finished fabrics....................................| 123.9 125.1 124.9 .8 -.2 .5 0 0 03-83-03 | Industrial textile products 2/......................| 130.2 130.9 130.7 2.2 -.2 0 -.1 -.2 04-2 | Leather.............................................| 179.3 176.8 177.0 -1.8 .1 -.6 -1.5 1.7 05-32 | Liquefied petroleum gas 2/..........................| 70.5 63.3 58.2 -24.3 -8.1 -7.7 1.4 -8.1 ____________________________________________________________________________________________________________________________________ See footnotes at end of table. Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing - Continued (1982=100 unless otherwise indicated) ____________________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | | Unadjusted index |change to |percent change from: Commodity | | |June 1998 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Feb. | May |June | June | May |Mar. to|Apr. to| May to | |1998 1/|1998 1/|1998 1/| 1997 | 1998 | Apr. | May | June ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 126.4 126.9 134.1 -3.2 5.7 0.2 -0.9 -1.2 05-43 | Industrial electric power...........................| 127.2 127.6 132.9 -1.6 4.2 0 -1.5 .2 05-52 | Commercial natural gas (Dec. 1990=100)..............| 108.4 106.1 102.1 -1.2 -3.8 1.0 3.0 -3.3 05-53 | Industrial natural gas (Dec. 1990=100)..............| 108.2 103.2 99.9 -.6 -3.2 -1.0 2.7 -2.6 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 88.9 73.2 75.4 -16.4 3.0 -10.3 2.7 4.6 05-72-03 | Jet fuels...........................................| 52.1 47.9 43.3 -27.2 -9.6 .6 -.2 -9.3 05-73-03 | No. 2 Diesel fuel...................................| 51.3 50.4 45.0 -26.2 -10.7 3.0 .6 -9.6 05-74 | Residual fuel 2/....................................| 47.3 43.3 45.2 -20.7 4.4 14.6 -15.1 4.4 06-1 | Industrial chemicals 2/.............................| 124.1 121.9 121.7 -2.8 -.2 -1.0 -.5 -.2 06-21 | Prepared paint......................................| 153.4 155.1 155.0 1.7 -.1 .7 .2 .1 06-22 | Paint materials 2/..................................| 143.6 143.6 143.5 1.3 -.1 .1 .1 -.1 06-31 | Medicinal and botanical chemicals 2/................| 135.3 133.3 135.2 1.3 1.4 .1 -1.3 1.4 06-4 | Fats and oils, inedible 2/..........................| 111.7 125.3 130.8 2.7 4.4 -3.9 12.3 4.4 06-51 | Mixed fertilizers...................................| 116.2 115.2 115.6 1.5 .3 .6 -.4 .5 06-52-01 | Nitrogenates........................................| 114.9 113.4 113.5 -15.7 .1 -1.9 3.0 3.5 06-52-02 | Phosphates 2/.......................................| 109.7 112.3 113.3 3.5 .9 .7 1.3 .9 06-53 | Other agricultural chemicals........................| 150.3 149.1 149.5 1.6 .3 -.3 -.3 .5 06-6 | Plastic resins and materials 2/.....................| 132.2 129.4 127.7 -8.5 -1.3 -.5 -.5 -1.3 07-11-02 | Synthetic rubber 2/.................................| 118.6 117.5 117.4 -1.7 -.1 .9 .4 -.1 07-21 | Plastic construction products 2/....................| 127.1 127.6 126.1 -1.5 -1.2 -.2 .8 -1.2 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 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 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Unsupported plastic film, sheet, & other shapes.....| Plastic parts and components for manufacturing 2/...| Softwood lumber 2/..................................| Hardwood lumber 2/..................................| Millwork 2/.........................................| Plywood 2/..........................................| Woodpulp 2/.........................................| Paper...............................................| Paperboard..........................................| Paper boxes and containers 2/.......................| Building paper and board 2/.........................| Commercial printing (June 1982=100) 2/..............| Foundry and forge shop products.....................| Steel mill products 2/..............................| Primary nonferrous metals 2/........................| Aluminum mill shapes 2/.............................| Copper and brass mill shapes 2/.....................| Nonferrous wire and cable 2/........................| Metal containers 2/.................................| Hardware............................................| Plumbing fixtures and brass fittings................| Heating equipment...................................| Fabricated structural metal products................| Fabricated ferrous wire products (June 1982=100) 2/.| Other misc. metal products 2/.......................| Mechanical power transmission equipment.............| Air conditioning and refrigeration equipment........| Metal valves, ex.fluid power (Dec. 1982=100) 2/.....| Ball and roller bearings............................| Wiring devices......................................| Motors, generators, motor generator sets............| Switchgear, switchboard, etc., equipment............| Electronic components and accessories 2/............| Internal combustion engines.........................| Machine shop products 2/............................| Flat glass 2/.......................................| Cement..............................................| Concrete products...................................| Asphalt felts and coatings 2/.......................| Gypsum products 2/..................................| Glass containers 2/.................................| Motor vehicle parts 2/..............................| Aircraft engines & engine parts (Dec. 1985=100).....| Aircraft parts & aux.equip.,nec (June 1985=100) 2/..| Photographic supplies 2/............................| 129.8 117.3 192.9 179.8 170.8 153.3 127.8 147.8 156.1 156.0 128.6 151.0 134.9 115.9 113.8 146.4 159.5 142.0 109.2 147.2 175.6 153.2 141.4 129.4 126.4 157.2 133.1 155.1 164.7 154.2 145.7 147.3 100.7 140.2 135.7 107.3 141.0 137.4 98.5 172.2 125.9 114.8 136.3 142.0 127.6 129.3 117.2 187.3 178.9 171.2 151.6 122.9 146.1 154.6 156.3 131.6 152.0 135.1 114.7 109.9 144.1 156.7 141.3 108.9 147.0 176.1 153.6 142.7 130.2 126.6 157.4 133.7 156.3 164.6 154.1 145.7 147.6 100.6 140.4 135.7 107.0 145.4 140.2 99.6 173.9 125.9 114.5 137.1 141.3 129.0 128.3 117.0 176.7 179.4 171.2 150.5 124.1 145.8 153.5 156.1 131.3 152.2 135.1 114.8 107.7 141.0 152.3 141.7 108.6 147.0 175.7 153.8 143.2 130.5 126.4 157.6 133.7 156.5 165.1 155.1 145.5 147.9 100.4 140.3 136.5 107.1 146.4 141.0 99.4 175.8 124.6 114.4 137.7 141.3 129.0 -2.7 -.1 -16.5 3.2 -.1 -7.5 -1.1 1.7 11.6 10.4 2.0 2.8 .6 -1.3 -18.2 -4.7 -17.6 -5.7 .7 .9 .3 1.1 2.0 2.6 .2 1.8 .9 2.0 1.2 .5 .5 1.5 -3.9 .4 1.0 -.9 4.3 3.8 -1.2 2.2 -.7 -.8 1.3 -.1 -.7 -.8 -.2 -5.7 .3 0 -.7 1.0 -.2 -.7 -.1 -.2 .1 0 .1 -2.0 -2.2 -2.8 .3 -.3 0 -.2 .1 .4 .2 -.2 .1 0 .1 .3 .6 -.1 .2 -.2 -.1 .6 .1 .7 .6 -.2 1.1 -1.0 -.1 .4 0 0 0 -.1 -.2 .2 .1 .7 -2.0 -.1 -1.0 -.4 2.4 .5 .1 -.6 1.4 -1.2 .3 .2 -.3 .1 .1 .2 0 .1 0 .1 .4 .4 .2 .1 .3 .7 -.5 .2 .1 -.1 1.1 .9 .8 0 0 -.1 1.6 .2 .8 .3 -.1 -3.2 -.5 .2 -.5 .1 -.6 .1 .4 1.1 -.2 .1 -.4 -2.3 0 -2.1 -1.0 -.2 .1 .2 0 .6 .3 .1 .3 .4 0 .1 -.3 .1 -.1 0 .1 -.1 -.3 -.1 .8 .4 1.0 0 -.1 0 .1 0 -.8 -.2 -5.7 .3 0 -.7 1.0 -.3 .3 -.1 -.2 .1 .1 .1 -2.0 -2.2 -2.8 .3 -.3 0 -.2 .3 .2 .2 -.2 .1 0 .1 .5 .7 0 .5 -.2 .1 .6 .1 .7 .9 -.2 1.1 -1.0 -.1 .4 0 0 15-6 | Medical/surgical/personal aid devices...............| 143.5 143.4 142.8 -.3 -.4 .1 -.4 -.3 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 100.1 100.2 98.5 -8.0 -1.7 1.0 -.3 -1.4 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 105.1 106.2 105.6 -5.1 -.6 .3 -1.4 .1 | | 01-21 | Wheat 2/............................................| 95.8 92.3 84.5 -23.3 -8.5 -5.0 -.3 -8.5 01-22-02-05| Corn................................................| 106.7 96.7 92.4 -16.3 -4.4 -12.4 -4.2 -4.9 01-31 | Slaughter cattle....................................| 91.8 97.5 96.4 2.1 -1.1 4.7 1.0 .7 01-32 | Slaughter hogs......................................| 58.5 69.7 70.6 -26.2 1.3 5.6 7.8 4.2 01-41-02 | Slaughter broilers/fryers...........................| 124.7 141.6 152.8 10.4 7.9 4.8 -6.8 6.8 01-42 | Slaughter turkeys...................................| 88.5 99.0 103.0 -13.7 4.0 -1.0 -3.8 2.2 01-6 | Fluid milk..........................................| 106.7 98.1 100.5 10.4 2.4 -.3 -6.5 3.2 01-83-01-31| Soybeans 2/.........................................| 116.9 110.2 104.8 -25.1 -4.9 -4.9 2.2 -4.9 02-52-01-01| Cane sugar,raw 2/...................................| 116.4 118.0 118.1 2.3 .1 1.6 .3 .1 | | | CRUDE NONFOOD MATERIALS..............................| 93.0 92.4 90.1 -10.3 -2.5 1.8 .4 -2.5 | | 01-51-01-01| Raw cotton..........................................| 108.0 108.0 118.7 1.6 9.9 -10.2 9.9 7.5 01-92-01-01| Leaf tobacco 2/.....................................| 112.9 (3) (3) (3) (3) -4.8 (3) (3) 04-11 | Cattle hides 2/.....................................| 154.6 151.5 179.4 -9.8 18.4 4.7 -.5 18.4 05-1 | Coal 2/.............................................| 94.5 92.4 96.7 -.2 4.7 -2.7 .7 4.7 05-31 | Natural gas 2/......................................| 81.9 89.7 86.6 -2.4 -3.5 5.2 .4 -3.5 05-61 | Crude petroleum 2/..................................| 43.2 38.3 33.6 -35.1 -12.3 6.4 .3 -12.3 08-5 | Logs, timber, etc...................................| 216.4 213.7 209.2 -2.8 -2.1 1.0 -.8 -1.6 09-12 | Wastepaper 2/.......................................| 164.4 150.1 147.9 -4.3 -1.5 -5.7 -2.0 -1.5 10-11 | Iron ore 2/.........................................| 95.2 95.9 95.9 .7 0 0 .7 0 10-12 | Iron and steel scrap 2/.............................| 193.5 184.1 182.0 -1.7 -1.1 -1.2 .5 -1.1 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 67.9 69.9 67.3 -22.6 -3.7 1.9 .1 -3.7 10-23-01 | Copper base scrap 2/................................| 123.3 128.4 122.9 -29.4 -4.3 4.3 -.2 -4.3 10-23-02 | Aluminum base scrap.................................| 184.6 172.7 165.0 -16.2 -4.5 -1.4 -.8 -3.7 13-21 | Construction sand, gravel, and crushed stone........| 150.8 152.6 152.5 2.6 -.1 .5 .5 -.1 ____________________________________________________________________________________________________________________________________ 1/ The indexes for February 1998 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision four 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 | Feb. 1998 | May 1998 | June 1998 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 365.3 | 365.9 | 366.5 | | All commodities................................| 125.0 | 124.9 | 124.8 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 123.3 | 122.9 | 122.8 | 01 | Farm products................................| 106.3 | 105.6 | 105.2 | 02 | Processed foods and feeds....................| 131.7 | 131.5 | 131.5 | | | | | | | Industrial commodities.........................| 125.3 | 125.3 | 125.2 | 03 | Textile products and apparel.................| 123.2 | 123.3 | 123.2 | 04 | Hides, skins, leather, and related products..| 148.4 | 147.4 | 151.4 | 05 | Fuels and related products and power 2/......| 76.6 | 76.6 | 76.5 | 06 | Chemicals and allied products 2/.............| 143.0 | 144.4 | 144.9 | 07 | Rubber and plastic products..................| 123.1 | 122.9 | 122.7 | 08 | Lumber and wood products.....................| 182.2 | 180.5 | 177.4 | 09 | Pulp, paper, and allied products.............| 172.2 | 172.3 | 172.0 | 10 | Metals and metal products....................| 130.0 | 129.3 | 128.7 | 11 | Machinery and equipment......................| 125.3 | 125.1 | 125.1 | 12 | Furniture and household durables.............| 131.1 | 131.2 | 131.2 | 13 | Nonmetallic mineral products.................| 133.8 | 135.2 | 135.4 | 14 | Transportation equipment.....................| 141.5 | 140.2 | 140.3 | 15 | Miscellaneous products.......................| 153.2 | 155.8 | 155.4 | | | | | | | Industrial commodities less fuels and related | | | | | products and power...........................| 139.3 | 139.2 | 139.1 | | | | | | | | | | | | OTHER COMMODITY GROUPINGS | | | | | | | | | 01-1 | Fruits and melons, fresh and dry vegetables, | | | | | and tree nuts................................| 122.2 | 114.6 | 109.4 | 01-2 | Grains.........................................| 105.2 | 98.7 | 93.8 | 01-3 | Slaughter livestock............................| 83.6 | 90.7 | 90.7 | 01-4 | Slaughter poultry..............................| 116.1 | 131.1 | 140.5 | 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 | Plant and animal fibers........................| 108.1 | 107.9 | 117.9 | | Chicken eggs...................................| 103.2 | 83.8 | 100.7 | | Hay, hayseeds, and oilseeds....................| 139.5 | 135.0 | 127.3 | | Oilseeds.......................................| 126.9 | 121.0 | 115.9 | | Other farm products............................| 168.3 | 'N.A.' | 'N.A.' | | Cereal and bakery products.....................| 157.3 | 157.6 | 157.2 | | Meats, poultry, and fish.......................| 113.3 | 115.0 | 115.4 | | Processed poultry..............................| 115.7 | 115.7 | 119.6 | | Sugar and confectionery........................| 134.4 | 134.4 | 134.7 | | Beverages and beverage materials...............| 137.8 | 137.4 | 137.4 | | Packaged beverage materials....................| 145.8 | 145.5 | 143.1 | | Fats and oils..................................| 137.7 | 147.8 | 140.6 | | Apparel........................................| 126.5 | 126.2 | 126.3 | | Other leather and related products.............| 144.8 | 145.2 | 145.0 | | Gas fuels 2/...................................| 77.9 | 81.7 | 78.1 | | Electric power.................................| 127.0 | 127.8 | 133.1 | | Refined petroleum products.....................| 54.4 | 54.7 | 52.7 | | Drugs and pharmaceuticals......................| 224.5 | 239.9 | 244.8 | | Agricultural chemicals and products............| 129.9 | 129.8 | 130.3 | | Other chemicals and allied products............| 134.2 | 134.4 | 134.9 | | Rubber and rubber products.....................| 115.6 | 115.2 | 115.5 | | Rubber, except natural rubber..................| 117.9 | 116.9 | 116.8 | | Miscellaneous rubber products..................| 138.4 | 138.5 | 138.8 | | Plastic products...............................| 129.8 | 129.7 | 129.4 | | Lumber.........................................| 186.9 | 182.8 | 175.5 | | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 149.5 | 148.1 | 147.8 | 09-15 | Converted paper and paperboard products........| 153.1 | 152.9 | 152.6 | 10-1 | Iron and steel.................................| 126.6 | 125.0 | 124.8 | 10-2 | Nonferrous metals..............................| 127.9 | 125.9 | 123.8 | 10-25 | Nonferrous mill shapes.........................| 141.0 | 138.6 | 135.8 | 11-3 | Metalworking machinery and equipment...........| 146.9 | 147.2 | 147.2 | 11-4 | General purpose machinery and equipment........| 146.3 | 146.7 | 146.9 | 11-6 | Special industry machinery.....................| 158.2 | 158.9 | 159.2 | 11-7 | Electrical machinery and equipment.............| 121.6 | 121.4 | 121.4 | 11-9 | Miscellaneous machinery and equipment..........| 131.5 | 131.5 | 131.8 | 12-6 | Other household durable goods..................| 150.6 | 151.2 | 151.3 | 13-2 | Concrete ingredients...........................| 144.6 | 147.4 | 147.7 | 14-1 | Motor vehicles and equipment...................| 132.1 | 130.1 | 130.1 | 15-1 | Toys, sporting goods, small arms, etc..........| 132.3 | 132.3 | 132.4 | 15-4 | Photographic equipment and supplies............| 114.3 | 116.3 | 115.3 | 15-9 | Other miscellaneous products...................| 134.7 | 134.7 | 134.5 | __________________________________________________________|___________|___________|___________| 1/ Data for February 1998 have been revised to reflect the availability of late reports 2/ and corrections by respondents. All data are subject to revision four 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_June_1998_from:__ code | |base | | | | | | | |Feb. |May |June | June | May | | |1998 2/|1998 2/|1998 2/| 1997 | 1998 __________________|______________________________________________|_____|_______|_______|_______|________|___________ | | | |Total mining industries...................... |12/84| 73.6 73.9 71.1 -11.0 -3.8 10 | Metal mining................................ |12/84| 74.2 76.1 74.0 -17.2 -2.8 12 | Coal mining................................. |12/85| 90.2 88.8 91.8 -.9 3.4 13 | Oil and gas extraction...................... |12/85| 72.0 72.3 68.3 -13.4 -5.5 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 131.0 132.4 131.9 2.3 -.4 | | | |Total manufacturing industries............... |12/84| 126.1 126.3 126.2 -.8 -.1 20 | Food and kindred products................... |12/84| 126.0 125.8 126.3 -1.6 .4 21 | Tobacco manufactures........................ |12/84| 223.7 237.7 238.0 13.5 .1 22 | Textile mill products....................... |12/84| 119.3 119.3 119.1 .4 -.2 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 124.3 124.7 124.7 1.1 0 24 | Lumber and wood products, except furniture.. |12/84| 158.2 157.4 155.5 -2.7 -1.2 25 | Furniture and fixtures...................... |12/84| 139.3 139.6 139.4 .9 -.1 26 | Paper and allied products................... |12/84| 137.8 137.0 136.7 3.8 -.2 27 | Printing, publishing, and allied industries. |12/84| 173.0 174.1 173.8 3.2 -.2 28 | Chemicals and allied products............... |12/84| 147.1 148.4 148.9 1.3 .3 29 | Petroleum refining and related products..... |12/84| 70.1 70.1 67.8 -18.9 -3.3 30 | Rubber and miscellaneous plastic products... |12/84| 122.6 122.5 122.2 -.6 -.2 31 | Leather and leather products................ |12/84| 137.4 137.1 137.2 .7 .1 32 | Stone, clay, glass, and concrete products... |12/84| 127.8 129.1 129.3 1.5 .2 33 | Primary metal industries.................... |12/84| 123.0 122.0 121.6 -3.0 -.3 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 128.4 128.8 128.9 1.1 .1 35 | Machinery, except electrical................ |12/84| 118.0 117.6 117.7 -.5 .1 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 110.6 110.4 110.5 -1.2 .1 37 | Transportation equipment.................... |12/84| 134.0 132.7 132.7 -.8 0 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 125.9 126.4 126.2 .7 -.2 39 | Miscellaneous manufacturing industries...... |12/85| 129.6 129.6 129.6 .4 0 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 101.8 102.2 101.9 1.3 -.3 42 | Motor freight transportation and warehousing |06/93| 110.6 111.1 111.4 2.2 .3 43 | United states postal service................ |06/89| 132.3 132.3 132.3 0 0 44 | Water transportation........................ |12/92| 102.7 102.4 103.0 -1.7 .6 45 | Transportation by air....................... |12/92| 123.7 124.7 124.8 -1.1 .1 46 | Pipe lines, except natural gas.............. |12/86| 99.3 99.4 99.4 .5 0 80 | Health services............................. |12/94| 107.1 107.4 107.5 1.4 .1 81 | Legal services.............................. |12/96| 105.6 105.9 106.2 3.9 .3 ____________________________________________________________________________________________________________________ 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 February 1998 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision four months after original publication. 3/ Not available. Table. 5. Producer price indexes by stage of processing, seasonally adjusted (1982=100) ________________________________________________________________________________________________________________ | | Index 1/ |________________________________________________________ Grouping | | | | | | | Jan. | Feb. | Mar. | Apr. | May | Jun. | 1998 | 1998 | 1998 | 1998 | 1998 | 1998 _______________________________________________________|_________|________|________|________|________|__________ Finished goods...................................| 130.6 130.5 130.0 130.3 130.5 130.4 Finished consumer goods........................| 128.8 128.6 128.0 128.4 128.7 128.6 Finished consumer foods......................| 133.8 134.1 133.6 134.2 133.8 133.9 Crude......................................| 129.5 131.2 130.6 132.7 124.2 118.7 Processed..................................| 134.1 134.3 133.8 134.3 134.6 135.1 Finished consumer goods, excluding foods.....| 126.5 126.1 125.4 125.7 126.4 126.1 Nondurable goods less foods................| 122.3 121.7 120.8 121.1 122.4 122.1 Durable goods..............................| 132.8 132.9 132.9 133.0 132.2 132.2 Capital equipment..............................| 137.6 137.6 137.6 137.7 137.4 137.4 Manufacturing industries.....................| 137.8 137.8 137.9 137.9 137.8 138.0 Nonmanufacturing industries..................| 137.5 137.5 137.5 137.5 137.2 137.1 | Intermediate materials, supplies, and components.| 124.5 124.1 123.6 123.6 123.5 123.1 Materials and components for manufacturing.....| 127.5 127.2 127.0 126.9 126.8 126.5 Materials for food manufacturing.............| 120.5 122.0 121.4 122.4 123.9 123.2 Materials for nondurable manufacturing.......| 129.8 129.0 128.6 128.3 128.0 127.9 Materials for durable manufacturing..........| 130.5 130.3 129.9 129.9 129.1 128.1 Components for manufacturing.................| 126.0 125.9 125.9 125.9 125.9 125.9 Materials and components for construction......| 146.3 146.4 146.6 146.9 146.9 146.7 Processed fuels and lubricants.................| 84.8 83.4 81.7 82.0 81.7 80.2 Manufacturing industries ....................| 88.5 87.4 86.3 86.8 85.5 85.2 Nonmanufacturing industries..................| 82.5 80.9 78.9 79.1 79.3 77.2 Containers.....................................| 141.3 141.8 142.1 141.7 141.8 141.6 Supplies.......................................| 135.4 135.2 134.9 134.7 134.7 134.8 Manufacturing industries.....................| 140.3 140.4 140.6 141.0 140.8 140.8 Nonmanufacturing industries..................| 133.1 132.8 132.3 132.0 132.0 132.2 Feeds......................................| 115.4 111.1 107.4 102.5 99.4 99.3 Other supplies.............................| 135.4 135.5 135.5 135.6 136.1 136.2 | Crude materials for further processing...........| 102.3 100.4 99.1 100.1 99.8 98.4 Foodstuffs and feedstuffs......................| 106.8 106.1 106.7 107.0 105.5 105.6 Nonfood materials..............................| 95.4 92.8 90.2 91.8 92.2 89.9 Nonfood materials except fuel 2/.............| 93.1 92.7 86.4 87.3 88.1 84.7 Manufacturing 2/...........................| 84.8 84.5 78.5 79.3 80.1 77.0 Construction...............................| 200.0 199.2 198.3 200.1 198.8 195.6 Crude fuel 3/................................| 91.1 85.5 88.2 90.6 90.5 89.8 Manufacturing industries...................| 89.8 83.4 85.7 89.0 89.2 87.1 Nonmanufacturing industries................| 92.8 87.3 90.0 92.3 92.3 91.6 | Special groupings | | Finished goods, excluding foods..................| 129.6 129.3 128.8 129.0 129.4 129.2 Intermediate materials less foods and feeds......| 124.8 124.4 124.0 124.1 123.9 123.5 Intermediate foods and feeds.....................| 119.1 118.8 117.2 116.4 116.4 115.9 Crude materials less agricultural products 2/....| 94.8 91.9 89.5 91.4 91.7 89.1 | Finished energy goods............................| 78.9 77.5 75.9 75.8 76.4 75.1 Finished goods less energy.......................| 140.0 140.2 140.0 140.4 140.6 140.7 Finished consumer goods less energy..............| 140.9 141.2 140.9 141.5 141.8 142.0 | Finished goods less foods and energy.............| 142.4 142.5 142.5 142.8 143.1 143.4 Finished consumer goods less foods and energy....| 145.4 145.7 145.6 146.1 146.9 147.3 Consumer nondurable goods less foods and energy..| 154.7 155.2 155.0 155.8 158.1 158.8 | Intermediate energy goods........................| 84.5 83.1 81.5 81.9 81.4 80.0 Intermediate materials less energy...............| 133.3 133.1 133.0 132.9 132.8 132.7 Intermediate materials less foods and energy.....| 134.2 134.1 134.0 134.0 133.9 133.7 | Crude energy materials 2/........................| 74.9 71.7 69.2 71.6 72.0 69.2 Crude materials less energy......................| 118.0 117.3 117.1 116.9 116.0 115.9 Crude nonfood materials less energy 3/...........| 150.6 150.1 147.5 146.1 146.8 146.1 ______________________________________________________________________________________________________________ 1/ 2/ 3/ All seasonally adjusted indexes are subject to change up to five years after original publication due to the recalculation of seasonal factors each January. The indexes for February 1998 have been recalculated to incorporate late reports and corrections by respondents. Includes crude petroleum. Excludes crude petroleum. Technical Notes Brief Explanation of Producer Price Indexes Producer price indexes (PPI) measure average changes in prices received by domestic producers of commodities in all stages of processing. Most of the information used in calculating the indexes is obtained through the systematic sampling of nearly every industry in the manufacturing and mining sectors of the economy. The PPI program also includes some information from other sectors--agriculture, fishing, forestry, services, and gas and electricity. Because producer price indexes are designed to measure only the change in prices received for the output of domestic industries, imports are not included. The sample currently contains about 3,200 commodities and 80,000 quotations per month. There are three primary systems of indexes within the PPI program: (1) Stage of processing indexes; (2) commodity indexes; and (3) indexes for the net output of industries and their products. The stage-of-processing structure (tables 1 and 2) organizes products by class of buyer and degree of processing. The commodity structure (tables 2 and 3) organizes products by similarity of end-use or material composition. The entire output of various industries is sampled to derive price indexes for the net output of industries and their products (table 4). Within the stage-of-processing system, finished goods are commodities that will not undergo further processing and are ready for sale to the final demand user, either an individual consumer or business firm. Consumer foods include unprocessed foods such as eggs and fresh vegetables, as well as processed foods such as bakery products and meats. Other finished consumer goods include durable goods such as automobiles, household furniture, and appliances, and nondurable goods such as apparel and home heating oil. Capital equipment includes producer durable goods such as heavy motor trucks, tractors, and machine tools. The stage-of-processing category for intermediate materials, supplies, and components consists partly of commodities that have been processed but require further processing. Examples of such semifinished goods include flour, cotton yarn, steel mill products, and lumber. The intermediate goods category also encompasses nondurable, physically complete items purchased by business firms as inputs for their operations. Examples include diesel fuel, belts and belting, paper boxes, and fertilizers. Crude materials for further processing are products entering the market for the first time that have not been manufactured or fabricated and that are not sold directly to consumers. Crude foodstuffs and feedstuffs include items such as grains and livestock. Examples of crude nonfood materials include raw cotton, crude petroleum, coal, hides and skins, and iron and steel scrap. Producer price indexes for the net output of industries and their products are grouped according to the Standard Industrial Classification (SIC) and the Census product code extension of the SIC. Industry price indexes are compatible with other economic time series organized by SIC codes, such as data on employment, wages, and productivity. Table 4 lists indexes for the net output of major mining and manufacturing industry groups at the 2-digit level. Producer price indexes are based on selling prices reported by establishments of all sizes selected by probability sampling, with the probability of selection proportionate to size. Individual items and transaction terms from these firms are also chosen by probability proportionate to size. BLS strongly encourages cooperating companies to supply actual transaction prices at the time of shipment to minimize the use of list prices. Prices are normally reported by mail questionnaire for the Tuesday of the week containing the 13th. Price data are provided on a voluntary and confidential basis; no one but sworn BLS employees are allowed access to individual company price reports. All producer price indexes are routinely subject to revision once, 4 months after original publication, to reflect the availability of late reports and corrections by respondents. Net output values of shipments are used as weights for industry indexes. Net output values refer to the value of shipments from establishments in one industry to establishments classified in another industry. However, weights for commodity price indexes are based on gross shipment values, including shipment values between establishments within the same industry. As a result, broad commodity grouping indexes such as the all commodities index are affected by the multiple counting of price change at successive stages of processing, which can lead to exaggerated or misleading signals about inflation. Stage-ofprocessing indexes partially correct this defect, but industry indexes consistently correct for this at all levels of aggregation. Therefore, industry and stage-of-processing indexes are more appropriate than broad commodity groupings for economic analysis of general price trends. Weights for most traditional commodity groupings of the PPI, as well as all indexes (such as stage-of-processing indexes) calculated from traditional commodity groupings, currently reflect 1987 values of shipments as reported in the Census of Manufactures and other sources. From January 1987 through December 1991, PPI weights were derived from 1982 shipment values. Industry indexes shown in table 4 are also now calculated with 1987 net output weights. Effective with publication of January 1988 data, many important PPI series (including stage-of-processing groupings and most commodity groups and individual items) were placed on a new reference base, 1982=100, to coincide with the reference year of the shipment weights. From 1971 through 1987, the standard reference base for most PPI series was 1967=100. Except for rounding differences, the shift to the new reference base did not alter any changes to previously published percent changes for affected PPI series. (See "Calculating Index Changes," below.) The new reference base is not used for indexes with a base later than December 1981, nor for indexes for the net output of industries and their products. For further information on the underlying concepts and methodology of the Producer Price Index, see chapter 16, "Producer Prices," in BLS Handbook of Methods (September 1992), Bulletin 2414. Reprints are available from the Bureau of Labor Statistics on request. Calculating Index Changes Movements of price indexes from one month to another are usually expressed as percent changes rather than as changes in index points because index point chances are affected by the level of the index in relation to its base period, while percent changes are not. The box shows the computation of index point and percent changes. Percent changes for 3-month and 6-month periods can be expressed as annual rates that are computed according to the standard formula for compound growth rates. These data indicate what the percent change would be if the rate for a given 3- or 6-month span were maintained for a 12-month period. Index Point Change Finished Goods Price Index Less previous index Equals index point change 107.5 104.0 3.5 Index Percent Change Index point change 3.5 Divided by the previous index 104.0 Equals 0.034 Result multiplied by 100 0.034 x 100 Equals percent change 3.4 Each index measures price changes from a reference period which equals 100.0 (1982 or some later month). An increase of 5.5 percent from the reference period in the Finished Goods Price Index, for example, is shown as 105.5. This change can also be expressed in dollars as follows: "Prices received by domestic producers of a systematic sample of finished goods have risen from $100 in 1982 to $105.50 to-day." Likewise, a current index of 90.0 would indicate that prices received by producers of finished goods today are 10 percent lower than they were in 1982. Seasonally Adjusted and Unadjusted Data Because price data are used for different purposes by different groups, the Bureau of Labor Statistics publishes seasonally adjusted as well as unadjusted changes each month. Seasonally adjusted data are preferred for analyzing general price trends in the economy because they eliminate the effect of changes that normally occur at about the same time and in about the same magnitude every year-such as price movements resulting from normal weather patterns, regular production and marketing cycles, model changeovers, seasonal discounts, and holidays. For these reasons, seasonally adjusted data more clearly reveal underlying cyclical trends. Unadjusted data are of primary interest to users who need information which can be related to actual dollar values of transactions. Individuals requiring this information include marketing specialists, purchasing agents, budget and cost analysts, contract specialists, and commodity traders. It is the unadjusted data that are generally cited in escalating long-term contracts such as purchasing agreements or real estate leases. (See Escalation and Producer Price Indexes: A Guide for Contracting Parties, BLS Report 807, September 1991, available on request from BLS.) For more information, see "Appendix A: Seasonal Adjustment Methodology at BLS," in the BLS Handbook of Methods (September 1992), Bulletin 2414.
@FedFRASER