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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 01-216 TRANSMISSION OF MATERIAL IN THIS RELEASE IS EMBARGOED UNTIL 8:30 A.M. (E.D.T.), FRIDAY, JULY 13, 2001 Producer Price Indexes -- June 2001 The Producer Price Index for Finished Goods declined 0.4 percent in June, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This decrease followed increases of 0.1 percent in May and 0.3 percent in April. Prices for finished goods, excluding energy, increased 0.1 percent in June. Prices for finished goods, excluding foods and energy, also increased 0.1 percent in June, after registering a 0.2-percent gain in May. At the earlier stages of processing, prices received by producers of intermediate goods inched down 0.1 percent, following a 0.1-percent rise in May. The crude goods index dropped 6.0 percent in June, after posting a 2.3-percent decrease in the previous month. (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 June 0.9 -0.4 6.1 0.1 4.4 0.9 8.5 July -.1 -.1 -.6 .1 4.3 .2 -2.0 Aug. -.1 -.4 -1.2 .2 3.4 -.3 -3.6 Sept. .7 .2 3.4 .3 3.5 .8 7.1 Oct. .4 .7 1.5 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. 1.1 .1 r0 .9 r.8 r.8 4.4 r.4 r-1.7 .5 -.3 .1 4.8 4.0 3.1 .8 -.2 -.2 17.5 r-14.5 r-7.2 Apr. .3 .6 .1 .2 3.7 -.2 .9 May .1 -.4 .2 .2 3.8 .1 -2.3 June -.4 .1 -2.5 .1 2.5 -.1 -6.0 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for February 2001 have been revised to reflect the availability of late reports and corrections by respondents. Among finished goods, a 2.5-percent decrease in June's finished energy goods index followed a 0.2-percent increase in May. Prices for finished consumer goods other than foods and energy showed no change in June, after increasing in the previous month. By contrast, prices for finished consumer foods posted a 0.1-percent gain, compared with a 0.4-percent decrease in May. The capital equipment index also turned up in June. During the first 6 months of 2001, the finished goods price index advanced at a 2.4-percent seasonally adjusted annual rate (SAAR), after rising at a 2.5-percent rate during the latter half of 2000. In the first half of this year, the rate of increase in finished energy goods prices slowed to a 1.4-percent SAAR from a 9.2-percent rate of increase during the final 6 months of last year. Offsetting this deceleration, the index for finished consumer foods advanced at a 5.6-percent SAAR from December 2000 to June 2001, compared with a 0.7-percent rate of increase during the previous 6 months. Prices for finished goods other than foods and energy rose at a 1.6-percent annual rate during the first half of 2001, following a 1.5-percent rate of increase for the last 6 months of 2000. At the earlier stages of processing, the rate of increase in the intermediate goods index slowed to a 0.3-percent SAAR for the first half of this year from a 2.2-percent rate of increase during the final 6 months of last year. The crude goods price index fell at an annual rate of 25.4 percent from December 2000 to June 2001, following a 28.4-percent rate of increase in the second half of 2000. (See summary below.) Summary of December-to-December, 6-month, and 3-month seasonally adjusted annual rates for selected stages of processing Grouping Finished goods Percentage change 12 months ended in December 1998 1999 2000 0.0 2.9 3.6 Seasonally adjusted annual rate for: 6 3 3 3 months months months months ended ended ended ended in in in in June Dec. March June 2001 2000 2001 2001 2.4 2.9 4.9 0.0 Finished consumer foods .1 Finished energy goods -11.7 Finished goods less foods and energy 2.5 Finished consumer goods, excluding foods and energy 4.2 Capital equipment 0 Intermediate materials, supplies, and components -3.3 Intermediate foods and feeds -7.3 Intermediate energy goods -12.1 Intermediate materials less foods and energy -1.6 Materials for nondurable manufacturing -5.3 Materials for durable manufacturing -5.5 Materials and components for construction .1 .8 18.1 1.7 16.6 5.6 1.4 2.7 12.0 10.2 12.6 1.1 -8.6 .9 1.3 1.6 .5 1.3 1.9 1.2 .3 1.4 1.2 2.3 .6 1.0 .3 2.1 0 2.6 1.2 3.7 -4.2 19.6 4.1 3.6 19.0 .3 4.1 -1.3 1.5 10.9 9.7 1.5 2.1 3.4 -.9 6.1 -5.7 1.9 1.6 .3 -.3 1.5 -.9 4.0 4.1 -.3 -.6 6.8 -6.9 2.4 .2 -1.9 -5.2 -2.8 -.9 2.2 .1 2.0 -.5 .3 3.8 Crude materials for further processing -16.7 15.3 35.5 -25.4 57.3 -24.3 -26.4 Foodstuffs and feedstuffs -11.0 -.1 7.4 3.6 36.5 14.8 -6.4 Crude energy materials -23.8 36.9 85.6 -43.0 102.6 -44.1 -41.9 Crude nonfood materials less energy -16.0 14.0 -5.5 -12.3 -9.2 -13.4 -11.1 NOTE: Late reports and corrections by respondents may cause some indexes to change 4 months after original publication. In addition, seasonally adjusted indexes may be revised for 5 years due to the recalculation of seasonal factors each January. Before seasonal adjustment, the Producer Price Index for Finished Goods decreased 0.3 percent in June to stand at 142.1 (1982=100). From June 2000 to June 2001, prices for finished goods gained 2.5 percent. During the same period, the index for finished energy goods increased 5.1 percent, finished consumer foods advanced 3.1 percent, and finished goods other than foods and energy rose 1.6 percent. Prices received by producers of intermediate goods gained 1.2 percent for the 12 months ended in June, and the index for crude goods decreased 2.2 percent during the same period. Finished goods Finished energy goods prices declined 2.5 percent in June, after posting a 0.2-percent increase in May. The index for residential natural gas fell 5.8 percent, following a 0.2-percent advance in the previous month. Prices for residential electric power, gasoline, and home heating oil also turned down in June. By contrast, the rate of decline in prices for liquefied petroleum gas slowed from 7.4 percent in May to 1.3 percent in June. Prices for diesel fuel and finished lubricants rose more than they did in the prior month. 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 June 0.0 4.9 0.1 5.5 -2.3 22.6 -1.8 29.0 July -.6 1.0 .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. r-1.1 r-1.7 .1 3.5 r-1.3 r-23.0 r-1.8 r28.0 Mar. r.3 r-1.5 .1 2.3 r3.2 r-14.7 r-1.8 16.5 Apr. -.1 -1.5 -.1 2.0 -.5 3.0 -2.6 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 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for February 2001 have been revised to reflect the availability of late reports and corrections by respondents. Prices for finished consumer goods other than foods and energy showed no change in June, following a 0.4-percent advance in May. The index for cigarettes was essentially unchanged in June, after jumping 5.6 percent in the prior month. Following increases in May, prices for book publishing and for men's and boys' apparel turned down in June. The indexes for prescription drugs and home electronic equipment fell, after showing no change in the previous month. On the other hand, prices for light motor trucks increased 0.5 percent in June, following a 1.6-percent drop in May. The indexes for passenger cars, footwear, and for sanitary papers and health products also turned up, after declining a month ago. During the first 6 months of 2001, the index for finished consumer goods other than foods and energy rose at a 2.3-percent SAAR, after increasing at a 1.7percent rate during the latter half of 2000. The index for finished consumer foods turned up 0.1 percent in June, after decreasing 0.4 percent a month earlier. Beef and veal prices increased 0.9 percent, following a 2.7-percent decline in May. The indexes for eggs for fresh use and pork fell less than they did a month ago. Prices for processed young chickens and for processed fruits and vegetables turned up in June. By contrast, the rate of increase in the dairy products index slowed from 4.6 percent in May to 1.6 percent in June. Prices for fresh and dry vegetables and processed turkeys turned down, following increases in the previous month. The capital equipment index gained 0.1 percent in June, after edging down 0.1 percent in May. Light motor truck prices moved up 0.5 percent, following a 1.6-percent decline a month ago. The civilian aircraft index rose more than it did in May. Prices for integrating and measuring instruments; tools, dies, jigs, fixtures, and industrial molds; passenger cars; and industrial material handling equipment turned up in June, after declining in the previous month. By contrast, the index for heavy motor trucks decreased 2.0 percent in June, following a 0.3-percent decline in May. Prices for electronic computers also fell more than they did a month earlier. The indexes for pumps and compressors and for agricultural machinery turned down, after increasing in the prior month. From December 2000 to June 2001, the capital equipment index rose at a SAAR of 0.6 percent, after posting a 1.0-percent rate of increase for the second half of 2000. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components edged down 0.1 percent in June, seasonally adjusted, after registering a 0.1-percent gain in May. Prices for materials for durable manufacturing and intermediate energy goods also turned down in June, following advances in May. The index for materials and components for construction increased less than it did a month earlier. Conversely, June prices for intermediate foods and feeds rose more than they did in the previous month. The index for nondurable manufacturing materials fell slightly less in June than it did in May. The June index for intermediate materials less foods and energy decreased 0.3 percent, after edging up 0.1 percent in the prior month. (See table B.) Prices for durable manufacturing materials fell 0.4 percent in June, following a 0.8-percent rise in May. Prices for primary aluminum (except extrusion billet) declined 3.8 percent, after posting a 3.9-percent gain in the previous month. The indexes for building paper and board; aluminum mill shapes; hot rolled bars, plates, and structural shapes; and flat glass also turned down in June. Plywood prices increased less than they did a month earlier, while the indexes for hot rolled sheet and strip, cold finished bars, and for copper cathode and refined copper decreased more in June than they did in May. On the other hand, prices for semi-finished steel mill products advanced 0.7 percent, following a 0.5-percent decline in the prior month. The index for copper and brass mill shapes also turned up in June. Prepared paint prices rose more in June than they did a month earlier. The index for durable manufacturing materials fell at a 1.9percent SAAR during the first half of 2001, after dropping at a 2.6-percent SAAR during the second half of 2000. The index for materials and components for construction rose 0.1 percent in June, following a larger 0.8-percent rise in May. Leading this deceleration, price increases for softwood lumber slowed to 0.6 percent, after posting an 11.2-percent jump in the previous month. The indexes for softwood plywood, switchgear, and for air conditioning and refrigeration equipment also advanced less than they did a month earlier. Prices for fabricated ferrous wire products declined in June, after showing no change in the prior month, while the cement index fell, following a May rise. By contrast, prices for gypsum products increased 0.5 percent in June, after decreasing 6.0 percent a month earlier. The indexes for plastic construction products, nonferrous wire and cable, and for asphalt felts and coatings also turned up in June. Prices for fabricated structural metal products showed no change, after edging down in the previous month, while the millwork index rose slightly more in June than it did in the prior month. From December 2000 to June 2001, prices for materials and components for construction advanced at a 2.0-percent SAAR, following a 1.3percent rate of decrease during the June 2000 to December 2000 period. The June index for intermediate energy goods edged down 0.1 percent, after registering a 0.1-percent gain in May. Commercial natural gas prices dropped 8.8 percent, following a 1.0-percent increase a month earlier. The indexes for industrial natural gas and gasoline also turned down in June. Jet fuel prices rose less than they did in the previous month, while the indexes for residual fuels and natural gas to electric utilities declined at a faster rate in June than they did in May. By contrast, the commercial electric power index jumped 3.1 percent, after falling 0.8 percent in May. Industrial electric power prices also turned up in June. The liquefied petroleum gas index decreased less than it did a month earlier, while diesel fuel prices advanced slightly more than they did in the prior month. After rising at a 15.1-percent SAAR during the latter half of 2000, the index for intermediate energy goods declined at a 1.3-percent rate during the first half of 2001. The index for intermediate foods and feeds increased 1.3 percent in June, following a 0.3-percent gain in May. In June, rising prices for prepared animal feeds; fluid milk products; natural, processed, and imitation cheese; beef and veal; crude vegetable oils; and flour outweighed falling prices for confectionery materials and pork. The index for intermediate foods and feeds advanced at a 4.1-percent SAAR from December 2000 to June 2001, after posting a 1.1-percent rate of increase from June 2000 to December 2000. The nondurable manufacturing materials index declined 0.6 percent in June, following a 0.7-percent decrease in May. In June, falling prices were observed for primary basic organic chemicals, nitrogenates, plastic resins and materials, woodpulp, paperboard, and processed yarns and threads. By contrast, the indexes for gray fabrics, finished fabrics, phosphates, inedible fats and oils, and paint materials rose in June. Prices for materials for nondurable manufacturing declined at a 0.3-percent SAAR during the December 2000 to June 2001 period, following a 0.1-percent rate of decrease over the prior 6-month period. Crude goods The Producer Price Index for Crude Materials for Further Processing fell 6.0 percent, seasonally adjusted, after declining 2.3 percent in May. Prices for crude energy materials decreased at a faster rate in June than they did in the previous month. By contrast, the index for crude foodstuffs and feedstuffs fell at a slower pace than it did in May. Basic industrial material prices declined 0.2 percent for the second consecutive month. (See table B.) The index for crude energy materials decreased 11.9 percent in June, following a 3.7-percent fall in May. The largest contributor to this faster rate of decline was the natural gas index, which dropped 19.1 percent in June and 7.2 percent in May. Prices for coal fell 6.6 percent in June, after posting a 2.1-percent gain in the previous month. The crude petroleum index increased 1.2 percent, after rising 1.8 percent in May. Prices for crude energy materials decreased at a 43.0-percent SAAR from December 2000 to June 2001, after rising at a 56.0-percent rate in the previous 6-month period. Prices for crude foodstuffs and feedstuffs declined 0.1 percent, after posting a 1.1-percent decrease in May. The slaughter cattle index fell 1.1 percent in June, after dropping 4.5 percent in the prior month. Prices for slaughter hogs and corn turned up, after falling in May. The Irish potatoes for processing index showed no change in June, after falling in the previous month. Prices for slaughter broilers and fryers decreased less than they did in May. The soybeans index rose more in June than it did in the prior month. On the other hand, fluid milk prices rose 3.4 percent in June, after increasing 10.4 percent in May. The indexes for alfalfa hay and wheat turned down, after showing gains in the previous month. Prices for fresh vegetables (except potatoes) fell more than they did in May. During the first half of 2001, the crude foodstuffs and feedstuffs index rose at a SAAR of 3.6 percent, after increasing at a rate of 12.0 percent in the last half of 2000. Prices for basic industrial materials declined 0.2 percent for the second consecutive month. In June, falling prices for raw cotton, wastepaper, cattle hides, gold ores, aluminum base scrap, and for iron and steel scrap outweighed rising prices for softwood logs, bolts, and timber; construction sand, gravel, and crushed stone; pulpwood; and phosphates. The index for basic industrial materials decreased at a SAAR of 12.3 percent from December 2000 to June 2001, after falling at a 9.0-percent rate in the previous 6-month period. Net output price indexes for mining, manufacturing, and services industries Mining. The Producer Price Index for the Net Output of Total Domestic Mining Industries decreased 9.4 percent in June, after registering a 3.6percent decline in May. (Net output price indexes are not seasonally adjusted.) Prices received by the crude petroleum, natural gas, and natural gas liquids industry dropped 11.7 percent, following a 4.9-percent decrease in the prior month. The indexes for the bituminous coal and lignite, gold ores, and crushed and broken granite industries turned down in June, after rising in the previous month. June prices received by the oil and gas well drilling industry rose more slowly than in May. By contrast, the index for rock salt mining increased 8.8 percent in June, following a 0.2-percent rise a month ago. Prices for metal mining services advanced, after showing no change in May. The construction sand and gravel industry index rose, after falling in the prior month. During the first half of 2001, the index for the net output of total domestic mining industries fell at an annual rate of 37.8 percent, after rising at a 53.1percent rate for the latter half of 2000. In June, this index stood at 115.5 (December 1984=100), 2.4 percent below its year-ago level. Manufacturing. The Producer Price Index for the Net Output of Total Domestic Manufacturing Industries decreased 0.2 percent in June, after posting a 0.7-percent rise in May. Leading this reversal, prices received by the petroleum refining and related products industry group dropped 3.3 percent, following a 6.0-percent gain in the previous month. The indexes for the tobacco manufactures industry group and the lumber and wood products (except furniture) industry group rose less than they did in May. Prices received by the printing and publishing and the stone, clay, glass, and concrete products industry groups turned down in June, after increasing in the prior month. On the other hand, the index for the transportation equipment industry group decreased 0.2 percent in June, after falling 0.5 percent a month earlier. Prices received by the chemicals and allied products and the rubber and miscellaneous plastic products industry groups also declined less than they did in May. The indexes for the machinery (except electrical) and the measuring and controlling instruments industry groups turned up in June, after showing no change in the previous month. During the first half of 2001, the index for the net output of total manufacturing industries rose at an annual rate of 2.5 percent, following a 0.1-percent annual rate of increase for the second half of 2000. In June, this index stood at 136.0 (December 1984=100), 1.3 percent above its yearago level. Services. Among service industries in June, price increases were observed for real estate agents and managers; offices of physicians; security brokers, dealers, and investment banking companies; and operators and lessors of nonresidential buildings. By contrast, price decreases were observed for the telephone communications (except radiotelephone) industry; hotels and motels; airport terminal services; and travel agencies. ***** Producer Price Index data for July 2001 will be released on Friday, August 10, 2001 at 8:30 a.m. (E.D.T.) One-Month Lag in Producer Price Indexes for Liquefied Petroleum Gas to be Removed Effective with Data for July 2001 Effective with the release of data for July 2001, the 1-month lag in the Producer Price Index (PPI) for Liquefied Petroleum Gas, commodity code 05-32, will be 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 will utilize the natural gas liquids price data published by the Oil Price Information Service (OPIS) to estimate the PPI. These data will be 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 to be released on August 10 will reflect the prices for this commodity as of July 2001. Indexes prior to July will 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 will represent a 2month (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| |June 2001 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | |Feb. | May |June | June | May |Mar. to|Apr. to | May to | 2000 1/|2001 2/|2001 2/|2001 2/| 2000 | 2001 | Apr. | May | June _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 141.4 142.5 142.1 2.5 -0.3 0.3 0.1 -0.4 Finished consumer goods........................| 76.120 142.4 143.8 143.3 3.0 -.3 .3 .1 -.5 Finished consumer foods......................| 22.507 140.0 141.8 141.9 3.1 .1 .6 -.4 .1 Crude......................................| 1.549 136.9 129.5 122.2 4.8 -5.6 .4 -5.5 -5.4 Processed..................................| 20.958 140.2 142.8 143.5 3.1 .5 .6 0 .5 Finished consumer goods, excluding foods.....| 53.624 143.3 144.5 143.7 2.9 -.6 .2 .3 -.7 Nondurable goods less foods................| 38.191 145.5 147.3 146.5 4.3 -.5 .2 .5 -1.0 Durable goods..............................| 15.434 133.9 133.8 133.2 -.1 -.4 .1 -.1 0 Capital equipment..............................| 23.868 139.6 139.7 139.6 .8 -.1 .3 -.1 .1 Manufacturing industries.....................| 6.278 140.1 140.4 140.5 .7 .1 .2 -.1 .1 Nonmanufacturing industries..................| 17.590 139.3 139.4 139.2 .8 -.1 .2 -.1 .1 | Intermediate materials, supplies, and components.| 100.000 Materials and components for manufacturing.....| 45.385 Materials for food manufacturing.............| 3.224 Materials for nondurable manufacturing.......| 15.685 Materials for durable manufacturing..........| 9.861 Components for manufacturing.................| 16.616 Materials and components for construction......| 13.216 Processed fuels and lubricants.................| 15.634 Manufacturing industries ....................| 5.555 Nonmanufacturing industries..................| 10.080 Containers.....................................| 3.966 Supplies.......................................| 21.799 Manufacturing industries.....................| 5.024 Nonmanufacturing industries..................| 16.775 Feeds......................................| 1.229 Other supplies.............................| 15.546 | Crude materials for further processing...........| 100.000 Foodstuffs and feedstuffs......................| 30.898 Nonfood materials..............................| 69.102 Nonfood materials except fuel 3/.............| 28.621 Manufacturing 3/...........................| 27.686 Construction...............................| 0.935 Crude fuel 4/................................| 40.481 Manufacturing industries...................| 3.470 Nonmanufacturing industries................| 37.011 | Special groupings | | Finished goods, excluding foods..................|5/ 77.493 Intermediate materials less foods and feeds......|6/ 95.547 Intermediate foods and feeds.....................|6/ 4.453 Crude materials less agricultural products 3/ 7/.|8/ 67.222 | Finished energy goods............................|5/ 15.512 Finished goods less energy.......................|5/ 84.488 Finished consumer goods less energy..............|5/ 60.620 | Finished goods less foods and energy.............|5/ 61.981 Finished consumer goods less foods and energy....|5/ 38.113 Consumer nondurable goods less foods and energy..|5/ 22.679 | Intermediate energy goods........................|6/ 15.755 Intermediate materials less energy...............|6/ 84.245 Intermediate materials less foods and energy.....|6/ 79.792 131.3 128.8 120.7 135.7 126.6 126.6 150.1 110.0 109.7 109.7 153.1 138.7 145.3 135.9 98.3 140.5 131.2 128.6 124.6 134.2 126.9 126.4 151.6 108.1 107.1 108.3 153.9 139.0 146.3 136.0 93.2 141.2 131.4 128.3 125.7 133.4 126.5 126.4 151.7 110.2 108.7 110.7 154.1 138.8 145.7 135.9 95.0 140.8 1.2 -.2 4.2 -.2 -2.2 .2 .3 6.7 6.3 6.9 .5 1.2 1.6 1.2 -2.2 1.4 .2 -.2 .9 -.6 -.3 0 .1 1.9 1.5 2.2 .1 -.1 -.4 -.1 1.9 -.3 -.2 -.2 .8 -.4 -.6 .2 .1 -1.4 -.8 -1.7 .2 .2 .5 .1 -2.7 .3 .1 -.2 .4 -.7 .8 -.1 .8 .1 -.7 .5 .3 0 -.2 .1 0 .1 -.1 -.2 1.0 -.6 -.4 0 .1 -.1 -.7 .4 .1 -.1 -.3 -.1 1.9 -.3 141.2 104.3 161.4 111.6 102.8 179.3 216.8 216.5 220.7 130.9 110.3 140.4 107.0 98.4 183.0 175.0 173.1 178.3 122.8 109.7 127.4 107.4 98.7 184.9 144.7 143.8 147.3 -2.2 7.7 -7.2 -11.8 -12.0 -5.5 -2.1 -2.6 -2.1 -6.2 -.5 -9.3 .4 .3 1.0 -17.3 -16.9 -17.4 .9 -.5 1.7 -.2 -.2 .1 3.2 3.3 3.2 -2.3 -1.1 -2.9 .8 .7 1.0 -5.8 -6.1 -5.8 -6.0 -.1 -9.2 .5 .4 1.1 -17.3 -16.9 -17.4 141.7 132.3 113.9 163.9 142.6 132.1 114.9 143.1 142.0 132.3 116.3 129.7 2.3 1.2 2.6 -6.8 -.4 .2 1.2 -9.4 .2 -.3 -.1 2.1 .2 .2 .3 -2.9 -.5 -.2 1.3 -9.4 102.7 146.8 149.8 104.1 147.7 151.0 102.7 147.6 150.9 5.1 2.0 2.4 -1.3 -.1 -.1 .1 .3 .4 .2 .1 .1 -2.5 .1 .1 149.4 156.1 173.6 150.0 156.9 175.4 149.9 156.7 175.5 1.6 2.0 3.6 -.1 -.1 .1 .2 .2 .3 .2 .4 .7 .1 0 .1 109.5 135.9 137.3 107.6 136.1 137.5 109.7 135.9 137.2 6.5 .3 .1 2.0 -.1 -.2 -1.5 -.1 -.1 .1 .1 .1 -.1 -.1 -.3 | Crude energy materials 3/........................|8/ 54.136 165.3 139.8 123.1 -5.7 -11.9 3.0 -3.7 -11.9 Crude materials less energy......................|8/ 45.864 112.5 115.3 114.8 1.2 -.4 -1.0 -.9 -.2 Crude nonfood materials less energy 4/...........|8/ 14.966 136.8 130.9 130.6 -11.0 -.2 -2.6 -.2 -.2 _________________________________________________|_____________________________________________________________________________ 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 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 | | |June 2001 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Feb. | May |June | June | May |Mar. to|Apr. to| May to | |2001 1/|2001 1/|2001 1/| 2000 | 2001 | Apr. | May | June ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 141.4 142.5 142.1 2.5 -0.3 0.3 0.1 -0.4 | FINISHED CONSUMER GOODS...............................| 142.4 143.8 143.3 3.0 -.3 .3 .1 -.5 | FINISHED CONSUMER FOODS..............................| 140.0 141.8 141.9 3.1 .1 .6 -.4 .1 | | 01-11 | Fresh fruits and melons 2/..........................| 91.8 100.0 98.3 15.8 -1.7 3.7 6.0 -1.7 01-13 | Fresh and dry vegetables 2/.........................| 143.9 129.9 120.5 -.3 -7.2 -17.3 .7 -7.2 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 89.6 72.1 71.8 -12.3 -.4 37.0 -21.4 -13.5 02-11 | Bakery products 2/..................................| 185.4 187.4 188.2 3.2 .4 -.1 .1 .4 02-13 | Milled rice 2/......................................| 92.4 86.3 86.2 -15.3 -.1 -2.2 -1.9 -.1 02-14-02 | Pasta products (June 1985=100) 2/...................| 121.7 122.2 122.3 .7 .1 .3 -.1 .1 02-21-01 | Beef and veal.......................................| 125.7 123.8 123.4 4.0 -.3 .3 -2.7 .9 02-21-04 | Pork................................................| 109.3 125.5 124.1 2.3 -1.1 2.0 -3.3 -1.0 02-22-03 | Processed young chickens............................| 111.2 115.3 117.5 8.5 1.9 2.5 -1.3 .9 02-22-06 | Processed turkeys...................................| 92.3 99.8 98.8 2.2 -1.0 7.6 .6 -3.7 02-23 | Finfish and shellfish...............................| 210.5 194.7 183.1 -6.1 -6.0 3.9 -6.1 -5.7 02-3 | Dairy products......................................| 135.9 146.4 150.1 12.0 2.5 2.8 4.6 1.6 02-4 | Processed fruits and vegetables 2/..................| 128.4 127.9 128.2 -.5 .2 .4 -.3 .2 02-55 02-62 02-63-01 02-78 | Confectionery end products 2/.......................| | Soft drinks.........................................| | Roasted coffee 2/...................................| | Shortening and cooking oils 2/......................| | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| | | 02-61 | Alcoholic beverages.................................| 03-81-01 | Women's apparel 2/..................................| 03-81-02 | Men's and boys' apparel.............................| 03-81-03 | Girls', children's, and infants' apparel 2/.........| 03-82 | Textile housefurnishings 2/.........................| 04-3 | Footwear 2/.........................................| 05-41 | Residential electric power (Dec. 1990=100)..........| 05-51 | Residential gas (Dec. 1990=100).....................| 05-71 | Gasoline............................................| 05-73-02-01| Fuel oil No. 2......................................| 06-35 | Pharmaceutical preps, ethical (Prescription) 2/.....| 06-36 | Pharmaceutical preps,proprietary (Over-counter) 2/..| 06-71 | Soaps and synthetic detergents 2/...................| 06-75 | Cosmetics and other toilet preparations 2/..........| 07-12 | Tires, tubes, tread, etc 2/.........................| 09-15-01 | Sanitary papers and health products 2/..............| 09-31-01 | Newspaper circulation 2/............................| 09-32-01 | Periodical circulation..............................| 09-33 | Book publishing.....................................| 12-1 | Household furniture 2/..............................| 12-3 | Floor coverings 2/..................................| 12-4 | Household appliances ...............................| 12-5 | Home electronic equipment 2/........................| 12-62 | Household glassware.................................| 12-64 | Household flatware 2/...............................| 12-66 | Lawn and garden equip., ex. tractors 2/.............| 14-11-01 | Passenger cars......................................| 15-11 | Toys, games, and children's vehicles 2/.............| 15-12 | Sporting and athletic goods 2/......................| 15-2 | Tobacco products 2/.................................| 15-5 | Mobile homes 2/.....................................| 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 15-94-04 | Costume jewelry and novelties 2/....................| | | | CAPITAL EQUIPMENT.....................................| | | 11-1 | Agricultural machinery and equipment 2/.............| 11-2 | Construction machinery and equipment................| 170.7 148.6 126.1 129.3 170.6 147.4 124.2 130.6 170.6 147.9 123.7 131.0 -.2 2.3 -6.9 -.8 0 .3 -.4 .3 -.1 0 -1.4 -.7 0 143.3 144.5 143.7 2.9 -.6 .2 .3 -.7 143.9 124.4 133.2 116.4 122.2 145.9 112.9 189.9 94.1 91.7 354.5 187.3 130.3 138.7 93.7 145.7 216.8 200.5 221.9 153.9 132.3 106.3 71.2 168.4 142.0 132.7 132.8 122.9 125.9 426.9 162.2 127.0 144.1 145.6 122.5 133.0 116.6 122.3 146.3 115.5 172.4 112.2 94.8 355.9 187.8 130.5 139.0 93.4 146.3 218.6 200.6 225.3 154.8 130.0 105.3 71.1 170.2 144.4 132.3 132.3 123.0 126.6 447.3 163.0 128.4 144.1 145.4 122.0 132.7 116.5 122.3 146.7 118.6 162.6 106.1 90.6 353.3 188.1 130.5 138.9 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 3.0 -2.1 -.2 -.9 -.2 1.3 4.4 23.7 -3.8 2.8 3.2 -.1 2.5 1.2 -.1 -.5 5.1 .1 2.2 1.4 -.5 -2.4 -3.5 3.0 2.2 .7 -.2 1.0 .2 13.9 1.4 1.0 1.5 -.1 -.4 -.2 -.1 0 .3 2.7 -5.7 -5.4 -4.4 -.7 .2 0 -.1 0 .1 .2 -.1 -1.1 0 -.3 0 -1.8 .2 -.8 0 -1.1 0 -.4 .1 .6 .1 0 .5 0 -.5 -.3 .4 .8 .2 -4.3 7.0 2.1 .5 -.1 .2 0 .3 .4 1.1 0 -.8 -.2 .5 -.5 0 0 1.8 -.7 .2 0 .6 0 .4 -.2 0 .3 -.4 .7 .3 -.5 -.7 .7 .2 .4 8.0 0 .1 .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 .1 -.4 -.2 -.1 0 .3 -1.5 -5.8 -3.7 -.2 -.7 .2 0 -.1 0 .1 .2 -.2 -1.2 0 -.3 0 -1.8 .3 -.8 0 .1 0 -.4 .1 .6 .1 0 139.6 139.7 139.6 .8 -.1 .3 -.1 .1 154.8 148.9 155.1 149.1 155.0 149.0 .9 .3 -.1 -.1 .6 0 .1 -.1 .1 .1 -.1 -.1 0 0 .5 -.4 .3 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 | Metal cutting machine tools 2/......................| 162.6 163.6 163.6 1.0 0 .3 -.1 0 | Metal forming machine tools 2/......................| 163.4 164.6 164.9 1.7 .2 .3 .4 .2 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 142.2 140.1 142.0 .6 1.4 0 -.1 1.4 | Pumps, compressors, and equipment...................| 155.9 156.9 156.4 1.8 -.3 .3 .3 -.3 | Industrial material handling equipment 2/...........| 136.1 136.5 137.5 2.1 .7 0 -.1 .7 | Electronic computers (Dec. 1998=100) 2/.............| 64.7 60.8 59.1 -18.7 -2.8 1.5 -1.0 -2.8 | Textile machinery 2/................................| 157.0 157.4 157.9 .8 .3 .4 -.1 .3 | Paper industries machinery (June 1982=100)..........| 165.7 166.1 167.2 1.3 .7 .3 -.2 .7 | Printing trades machinery 2/........................| 143.6 143.7 143.9 1.6 .1 .1 0 .1 | Transformers and power regulators 2/................| 135.0 134.1 134.3 -2.0 .1 .4 -.9 .1 | Communication & related equip. (Dec. 1985=100) 2/...| 110.3 110.3 110.3 -.1 0 0 -.1 0 | X-ray and electromedical equipment 2/...............| 99.8 98.7 99.5 -2.7 .8 -1.2 -.1 .8 | Oil field and gas field machinery ..................| 133.4 133.9 134.7 5.2 .6 .5 1.6 .6 | Mining machinery and equipment 2/...................| 147.5 148.4 148.7 1.8 .2 .1 .4 .2 | Office and store machines and equipment 2/..........| 112.3 112.0 112.8 .4 .7 0 -.2 .7 | Commercial furniture 2/.............................| 159.7 160.1 160.5 1.3 .2 .1 0 .2 | Light motor trucks..................................| 154.6 152.6 152.0 -2.8 -.4 .1 -1.6 .5 | Heavy motor trucks 2/...............................| 146.3 150.1 147.1 -.4 -2.0 .5 -.3 -2.0 | Truck trailers 2/...................................| 138.9 138.9 138.8 .1 -.1 .1 0 -.1 | Civilian aircraft (Dec. 1985=100)...................| 166.1 167.3 168.6 6.2 .8 .5 .3 .8 | Ships (Dec. 1985=100) 2/............................| 148.6 148.7 148.7 1.5 0 0 .1 0 | Railroad equipment 2/...............................| 135.9 135.8 135.6 -.1 -.1 0 0 -.1 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 131.3 131.2 131.4 1.2 .2 -.2 .1 -.1 | | | INTERMEDIATE FOODS AND FEEDS..........................| 113.9 114.9 116.3 2.6 1.2 -.1 .3 1.3 | | 02-12-03 | Flour 2/............................................| 107.6 109.6 110.7 6.2 1.0 -.9 1.6 1.0 02-53 | Refined sugar 2/....................................| 109.9 108.8 109.6 -1.4 .7 .1 .6 .7 02-54 | Confectionery materials.............................| 105.6 106.6 104.9 11.5 -1.6 .4 1.0 -1.9 02-72 | Crude vegetable oils 2/.............................| 59.1 68.6 70.9 -6.2 3.4 1.8 2.7 3.4 02-9 | Prepared animal feeds 2/............................| 106.5 102.3 104.0 -1.0 1.7 -1.9 0 1.7 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 132.3 132.1 132.3 1.2 .2 -.3 .2 -.2 | | 03-1 | Synthetic fibers 2/.................................| 111.4 108.3 107.7 -.4 -.6 .3 -3.0 -.6 03-2 | Processed yarns and threads 2/......................| 108.1 106.8 106.3 -1.7 -.5 -.2 -.4 -.5 03-3 | Gray fabrics 2/.....................................| 115.0 113.8 115.1 3.1 1.1 -.1 -1.2 1.1 03-4 | Finished fabrics....................................| 121.7 123.0 123.5 .7 .4 .9 -.1 .7 03-83-03 | Industrial textile products 2/......................| 131.2 132.3 132.7 1.1 .3 .2 .2 .3 04-2 | Leather 2/..........................................| 194.9 209.6 207.3 16.1 -1.1 3.9 1.4 -1.1 05-32 | Liquefied petroleum gas 2/..........................| 174.0 129.2 127.5 13.2 -1.3 -11.9 -7.4 -1.3 ____________________________________________________________________________________________________________________________________ See footnotes at end of table. Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing - Continued (1982=100 unless otherwise indicated) ____________________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | | Unadjusted index |change to |percent change from: Commodity | | |June 2001 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Feb. | May |June | June | May |Mar. to|Apr. to| May to | |2001 1/|2001 1/|2001 1/| 2000 | 2001 | Apr. | May | June ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 133.6 133.5 146.7 7.9 9.9 -1.4 -0.8 3.1 05-43 | Industrial electric power...........................| 136.4 135.6 142.9 7.0 5.4 -.8 -1.6 1.7 05-52 | Commercial natural gas (Dec. 1990=100)..............| 212.7 184.3 167.9 31.7 -8.9 -6.8 1.0 -8.8 05-53 | Industrial natural gas (Dec. 1990=100)..............| 238.2 195.2 177.5 37.9 -9.1 -3.0 1.6 -10.3 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 238.8 160.8 139.6 21.4 -13.2 -2.5 -7.8 -13.1 05-72-03 | Jet fuels...........................................| 86.4 82.6 83.1 5.5 .6 -6.5 5.7 2.3 05-73-03 | No. 2 Diesel fuel...................................| 92.4 89.8 92.6 8.1 3.1 -4.5 5.5 6.6 05-74 | Residual fuel 2/....................................| 79.5 76.1 72.6 -16.0 -4.6 -1.5 -1.0 -4.6 06-1 | Industrial chemicals 2/.............................| 134.7 131.7 130.6 .6 -.8 -1.3 0 -.8 06-21 | Prepared paint......................................| 164.2 164.1 164.7 2.4 .4 -.1 .1 .5 06-22 | Paint materials 2/..................................| 152.1 150.8 152.1 .4 .9 .7 -1.3 .9 06-31 | Medicinal and botanical chemicals 2/................| 144.4 139.6 139.4 -4.7 -.1 -3.7 .4 -.1 06-4 | Fats and oils, inedible 2/..........................| 69.3 67.1 72.0 -.7 7.3 -.6 5.7 7.3 06-51 | Mixed fertilizers...................................| 117.2 118.4 119.7 6.1 1.1 -.6 .8 1.2 06-52-01 | Nitrogenates........................................| 185.6 161.7 145.8 30.1 -9.8 -8.2 -4.0 -9.0 06-52-02 | Phosphates 2/.......................................| 97.0 96.7 98.3 7.4 1.7 .6 -2.8 1.7 06-53 | Other agricultural chemicals 2/.....................| 147.8 149.6 148.5 1.4 -.7 .1 .7 -.7 06-6 | Plastic resins and materials 2/.....................| 139.3 141.8 140.2 -5.1 -1.1 .5 -2.6 -1.1 07-11-02 | Synthetic rubber 2/.................................| 123.7 123.7 124.2 5.6 .4 -.1 -.6 .4 07-21 | Plastic construction products ......................| 133.4 134.6 134.6 -3.3 0 .7 -.5 .1 07-22 | Unsupported plastic film, sheet, & other shapes 2/..| 139.2 138.4 138.7 5.2 .2 .1 -2.2 .2 07-26 | Plastic parts and components for manufacturing 2/...| 117.3 117.3 117.3 -.2 0 0 -.2 0 08-11 | Softwood lumber 2/..................................| 163.6 185.1 186.3 3.8 .6 .8 11.2 .6 08-12 | Hardwood lumber ....................................| 185.1 181.9 180.7 -3.1 -.7 -.8 -.8 -.6 08-2 | Millwork 2/.........................................| 177.1 178.5 179.4 1.5 .5 .1 .4 .5 08-3 | Plywood 2/..........................................| 145.6 165.7 166.5 7.2 .5 -.6 12.6 .5 09-11 | Woodpulp 2/.........................................| 143.0 128.8 125.1 -14.1 -2.9 -4.9 -2.2 -2.9 09-13 | Paper 2/............................................| 152.1 152.0 152.2 1.0 .1 .1 -.6 .1 09-14 | Paperboard 2/.......................................| 176.6 173.6 172.3 -4.4 -.7 -.7 -.7 -.7 09-15-03 | Paper boxes and containers 2/.......................| 175.6 175.8 176.2 .5 .2 .1 .5 .2 09-2 | Building paper and board 2/.........................| 126.4 138.9 137.1 -3.5 -1.3 .2 9.7 -1.3 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 15-6 | 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/.....| | 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...........................| 157.2 137.0 102.7 112.8 150.7 163.1 142.8 105.6 152.8 182.6 157.8 145.0 130.2 126.8 166.6 135.5 163.6 170.6 154.0 146.6 155.6 95.3 143.7 139.9 111.6 149.4 150.7 104.5 166.4 130.9 113.5 144.2 148.0 126.0 147.8 158.6 137.0 102.2 108.8 149.5 159.3 140.7 106.4 153.8 180.3 156.9 144.8 129.8 127.4 167.1 136.0 165.1 170.6 154.3 146.8 157.1 94.3 143.8 139.9 112.2 149.7 152.3 105.8 145.8 134.3 113.3 144.7 146.9 130.3 147.8 158.0 137.0 101.6 106.8 148.9 159.5 140.8 106.6 153.7 181.2 156.9 144.7 129.3 127.2 166.9 136.1 165.1 169.1 154.3 146.9 157.5 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 1.7 .2 -7.6 -3.3 1.0 .2 -1.8 -.6 1.6 .3 .6 -.1 -.4 1.0 1.9 .1 1.7 .8 .8 .8 3.2 -3.5 .2 2.0 2.2 -.7 2.0 .6 -30.1 5.3 -.4 2.8 .6 3.7 1.6 -.4 0 -.6 -1.8 -.4 .1 .1 .2 -.1 .5 0 -.1 -.4 -.2 -.1 .1 0 -.9 0 .1 .3 -.4 0 .6 -.1 .1 -.9 .3 .5 -.1 -.1 0 .2 -.8 .2 .8 .1 -.6 -4.3 -.9 -.6 -.9 .8 .7 -1.2 -.4 0 -.1 .4 .1 -.1 -.1 0 .3 .2 .5 .3 -.1 -.2 .5 -1.6 .2 .4 -2.9 .9 -.3 2.0 .3 3.2 .1 -.1 .1 -.1 1.7 .4 -.4 -.5 0 .3 .2 .1 -.1 0 .4 .3 .2 .1 .2 0 0 1.2 -.7 .1 .2 .6 .2 .7 -.3 -6.0 2.2 .2 .2 -.2 -.1 0 -.4 .1 -.6 -1.8 -.4 .1 .1 .2 -.3 .6 .1 0 -.4 -.2 .1 .1 0 -.9 0 0 .2 -.4 .1 .6 -.1 -.1 -.9 .2 .5 -.1 -.1 0 .1 -.8 .2 141.2 130.9 122.8 -2.2 -6.2 .9 -2.3 -6.0 104.3 110.3 109.7 7.7 -.5 -.5 -1.1 -.1 85.1 77.2 115.7 63.9 131.7 91.0 74.3 112.9 87.6 141.2 87.1 72.4 111.7 87.2 140.4 7.3 -4.9 6.1 4.7 10.6 -4.3 -2.6 -1.1 -.5 -.6 -6.6 -2.3 -.3 -4.8 -.4 9.4 -6.2 -4.5 -5.9 -3.1 -4.3 2.0 -1.1 2.5 -2.2 01-42 | Slaughter turkeys...................................| 100.8 106.7 108.7 -10.3 1.9 -2.1 -2.9 -2.2 01-6 | Fluid milk..........................................| 97.5 115.0 121.1 32.3 5.3 8.1 10.4 3.4 01-83-01-31| Soybeans 2/.........................................| 75.0 76.5 80.8 -7.1 5.6 -3.8 4.4 5.6 02-52-01-01| Cane sugar,raw 2/...................................| 111.9 112.2 109.7 4.9 -2.2 1.4 -1.0 -2.2 | | | | CRUDE NONFOOD MATERIALS..............................| 161.4 140.4 127.4 -7.2 -9.3 1.7 -2.9 -9.2 | | 01-51-01-01| Raw cotton..........................................| 93.4 69.5 63.3 -31.1 -8.9 -7.7 -7.3 -7.5 01-92-01-01| Leaf tobacco 2/.....................................| 121.4 (3) (3) (3) (3) -24.2 (3) (3) 04-11 | Cattle hides 2/.....................................| 191.9 225.2 214.5 31.9 -4.8 4.8 10.6 -4.8 05-1 | Coal 2/.............................................| 95.6 98.2 91.7 3.3 -6.6 .3 2.1 -6.6 05-31 | Natural gas 2/......................................| 262.3 203.3 164.4 -3.4 -19.1 3.8 -7.2 -19.1 05-61 | Crude petroleum 2/..................................| 80.7 77.4 78.3 -12.8 1.2 2.4 1.8 1.2 08-5 | Logs, timber, etc...................................| 182.0 185.0 187.6 -5.3 1.4 -.1 1.3 2.3 09-12 | Wastepaper 2/.......................................| 171.5 140.0 135.2 -62.0 -3.4 -8.2 -7.2 -3.4 10-11 | Iron ore 2/.........................................| 95.6 96.3 96.3 1.5 0 0 0 0 10-12 | Iron and steel scrap 2/.............................| 119.0 119.8 119.3 -15.0 -.4 -.7 -.3 -.4 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 65.6 64.5 63.9 -5.8 -.9 -6.0 2.7 -.9 10-23-01 | Copper base scrap 2/................................| 123.0 119.3 118.5 -1.6 -.7 -.8 -2.0 -.7 10-23-02 | Aluminum base scrap.................................| 167.9 168.9 165.0 -3.2 -2.3 1.5 .2 -.6 13-21 | Construction sand, gravel, and crushed stone........| 167.3 168.6 169.1 3.3 .3 .2 .2 .3 ____________________________________________________________________________________________________________________________________ 1/ The indexes for February 2001 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. 2/ 3/ Not seasonally adjusted. Not available. Table 3. Producer price indexes for selected commodity groupings (1982=100 unless otherwise indicated) _______________________________________________________________________________________________ | | | | | Unadjusted index 1/ | Commodity| |___________________________________| code | Grouping | Feb. 2001 | May 2001 | June 2001 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 396.8 | 399.9 | 398.7 | | All commodities................................| 137.4 | 136.6 | 135.7 | | | | | | 01 02 03 04 05 06 07 08 09 10 11 12 13 14 15 01-1 01-2 01-3 01-4 01-5 01-7 01-8 01-83 01-9 02-1 02-2 02-22 02-5 02-6 02-63 02-7 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Farm products and processed foods and feeds....| Farm products................................| Processed foods and feeds....................| | Industrial commodities.........................| Textile products and apparel.................| Hides, skins, leather, and related products..| Fuels and related products and power 2/......| Chemicals and allied products 2/.............| Rubber and plastic products..................| Lumber and wood products.....................| Pulp, paper, and allied products.............| Metals and metal products....................| Machinery and equipment......................| Furniture and household durables.............| Nonmetallic mineral products.................| Transportation equipment.....................| Miscellaneous products.......................| | Industrial commodities less fuels and related | products and power...........................| | | OTHER COMMODITY GROUPINGS | | Fruits and melons, fresh and dry vegetables, | and tree nuts................................| Grains.........................................| Slaughter livestock............................| Slaughter poultry..............................| Plant and animal fibers........................| Chicken eggs...................................| Hay, hayseeds, and oilseeds....................| Oilseeds.......................................| Other farm products............................| Cereal and bakery products.....................| Meats, poultry, and fish.......................| Processed poultry..............................| Sugar and confectionery........................| Beverages and beverage materials...............| Packaged beverage materials....................| Fats and oils..................................| MAJOR COMMODITY GROUPS 125.0 103.6 135.6 139.7 121.9 157.9 119.6 155.2 127.1 171.5 185.3 126.6 123.9 133.4 143.6 144.9 177.9 143.5 118.8 80.1 102.3 123.6 92.1 104.3 101.7 86.5 181.0 160.5 125.0 112.3 135.7 145.7 126.5 102.1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 127.3 106.6 137.5 138.4 121.3 166.2 113.7 154.3 127.7 179.4 185.4 126.0 123.9 133.2 143.9 144.7 181.9 143.7 118.0 79.7 107.2 132.0 69.6 81.0 108.8 88.2 'N.A.' 161.3 128.0 115.3 135.6 145.8 124.9 104.1 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 127.3 105.8 138.0 137.3 121.3 164.3 110.1 153.5 127.8 180.6 184.9 125.8 123.9 133.0 143.7 144.4 182.4 143.6 113.3 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 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 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 | Apparel........................................| 127.4 | 126.5 | 126.2 | | Other leather and related products.............| 147.0 | 147.9 | 147.5 | | Gas fuels 2/...................................| 236.1 | 181.5 | 152.7 | | Electric power.................................| 133.7 | 134.6 | 142.3 | | Refined petroleum products.....................| 90.4 | 99.4 | 96.2 | | Drugs and pharmaceuticals......................| 261.9 | 262.0 | 261.5 | | Agricultural chemicals and products............| 140.7 | 136.1 | 132.9 | | Other chemicals and allied products............| 139.4 | 140.1 | 139.9 | | Rubber and rubber products.....................| 116.8 | 116.6 | 116.7 | | Rubber, except natural rubber..................| 123.1 | 123.1 | 123.6 | | Miscellaneous rubber products..................| 140.2 | 140.1 | 140.1 | | Plastic products...............................| 135.2 | 136.0 | 136.1 | | Lumber.........................................| 168.2 | 182.1 | 182.6 | | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 159.9 | 158.3 | 157.9 | 09-15 | Converted paper and paperboard products........| 164.2 | 164.9 | 164.9 | 10-1 | Iron and steel.................................| 110.6 | 110.3 | 109.9 | 10-2 | Nonferrous metals..............................| 127.5 | 125.2 | 124.9 | 10-25 | Nonferrous mill shapes.........................| 144.5 | 143.0 | 142.8 | 11-3 | Metalworking machinery and equipment...........| 150.6 | 150.5 | 151.4 | 11-4 | General purpose machinery and equipment........| 151.9 | 152.9 | 152.8 | 11-6 | Special industry machinery.....................| 164.4 | 165.0 | 165.1 | 11-7 | Electrical machinery and equipment.............| 118.0 | 117.7 | 117.7 | 11-9 | Miscellaneous machinery and equipment..........| 135.4 | 135.5 | 135.9 | 12-6 | Other household durable goods..................| 157.1 | 157.6 | 157.1 | 13-2 | Concrete ingredients...........................| 157.9 | 158.8 | 159.1 | 14-1 | Motor vehicles and equipment...................| 131.7 | 131.3 | 130.5 | 15-1 | Toys, sporting goods, small arms, etc..........| 133.0 | 133.4 | 133.1 | 15-4 | Photographic equipment and supplies............| 109.6 | 112.5 | 111.8 | 15-9 | Other miscellaneous products...................| 137.9 | 139.3 | 139.2 | __________________________________________________________|___________|___________|___________| 1/ Data for February 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_June_2001_from:__ code | |base | | | | | | | |Feb. |May |June | June | May | | |2001 2/|2001 2/|2001 2/| 2000 | 2001 __________________|______________________________________________|_____|_______|_______|_______|________|___________ | | | |Total mining industries...................... |12/84| 149.4 127.5 115.5 -2.4 -9.4 10 | Metal mining................................ |12/84| 71.9 71.4 71.0 -3.7 -.6 12 | Coal mining................................. |12/85| 90.1 92.2 87.7 3.1 -4.9 13 | Oil and gas extraction...................... |12/85| 174.7 144.9 129.6 -2.6 -10.6 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 139.9 140.7 141.8 3.4 .8 | | | |Total manufacturing industries............... |12/84| 134.8 136.3 136.0 1.3 -.2 20 | Food and kindred products................... |12/84| 130.8 133.2 133.8 3.4 .5 21 | Tobacco manufactures........................ |12/84| 372.4 391.2 391.7 14.5 .1 22 | Textile mill products....................... |12/84| 117.6 117.1 117.2 .5 .1 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 125.8 125.8 125.7 .1 -.1 24 | Lumber and wood products, except furniture.. |12/84| 153.8 160.5 161.3 1.6 .5 25 | Furniture and fixtures...................... |12/84| 144.3 144.9 145.2 1.2 .2 26 | Paper and allied products................... |12/84| 147.0 146.9 146.8 -.3 -.1 27 | Printing, publishing, and allied industries. |12/84| 187.5 188.8 188.4 2.9 -.2 28 | Chemicals and allied products............... |12/84| 161.5 160.4 160.0 2.2 -.2 29 | Petroleum refining and related products..... |12/84| 111.7 120.9 116.9 -2.5 -3.3 30 | Rubber and miscellaneous plastic products... |12/84| 125.8 126.6 126.4 1.6 -.2 31 | Leather and leather products................ |12/84| 140.4 142.9 142.6 3.9 -.2 32 | Stone, clay, glass, and concrete products... |12/84| 135.6 136.0 135.7 .4 -.2 33 | Primary metal industries.................... |12/84| 117.7 116.9 116.5 -3.1 -.3 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 130.7 131.1 131.1 .6 0 35 | Machinery, except electrical................ |12/84| 117.9 118.0 118.1 .5 .1 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 107.6 107.4 107.3 -1.1 -.1 37 | Transportation equipment.................... |12/84| 137.6 137.4 137.1 .8 -.2 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 126.8 127.3 127.4 1.0 .1 39 | Miscellaneous manufacturing industries...... |12/85| 132.0 132.5 132.5 1.4 0 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 103.8 103.7 104.1 1.5 0.4 42 | Motor freight transportation and warehousing |06/93| 122.5 123.0 123.2 3.5 .2 43 | United States Postal Service................ |06/89| 141.3 141.3 141.3 4.5 0 44 | Water transportation........................ |12/92| 127.0 125.6 130.3 5.0 3.7 45 | Transportation by air....................... |12/92| 155.1 156.4 156.6 6.4 .1 46 | Pipe lines, except natural gas.............. |12/86| 109.1 109.0 109.0 6.8 0 54 | Food stores................................. |12/99| 106.9 106.7 109.4 7.7 2.5 59 | Miscellaneous retail........................ |06/00| 101.0 101.5 100.6 .6 -.9 80 | Health services............................. |12/94| 115.6 115.7 116.1 3.7 .3 81 | Legal services.............................. |12/96| 117.2 116.6 117.5 4.9 .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 February 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 | | | | | | | Jan. | Feb. | Mar. | Apr. | May | June | 2001 | 2001 | 2001 | 2001 | 2001 | 2001 _______________________________________________________|________|________|________|________|________|________ | Finished goods...................................| 141.6 141.7 141.7 142.1 142.2 141.7 Finished consumer goods........................| 142.7 143.0 142.9 143.3 143.5 142.8 Finished consumer foods......................| 139.1 140.2 141.3 142.1 141.5 141.7 Crude......................................| 131.3 135.9 137.3 137.9 130.3 123.3 Processed..................................| 139.7 140.5 141.5 142.4 142.4 143.1 Finished consumer goods, excluding foods.....| 144.0 144.0 143.3 143.6 144.1 143.1 Nondurable goods less foods................| 146.4 146.7 145.6 145.9 146.7 145.3 Durable goods..............................| 134.4 133.4 133.9 134.0 133.8 133.8 Capital equipment..............................| 139.8 139.3 139.5 139.9 139.7 139.9 Manufacturing industries.....................| 140.2 140.0 140.1 140.4 140.3 140.5 Nonmanufacturing industries..................| 139.6 139.0 139.3 139.6 139.4 139.6 | Intermediate materials, supplies, and components.| 132.0 131.7 131.4 131.1 131.2 131.1 Materials and components for manufacturing.....| 128.5 128.8 128.9 128.7 128.5 128.2 Materials for food manufacturing.............| 120.8 121.1 122.7 123.7 124.2 125.5 Materials for nondurable manufacturing.......| 134.9 135.6 135.7 135.1 134.1 133.3 Materials for durable manufacturing..........| 126.8 126.6 126.7 125.9 126.9 126.4 Components for manufacturing.................| 126.5 126.5 126.3 126.5 126.4 126.4 Materials and components for construction......| 149.8 150.1 150.2 150.3 151.5 151.6 Processed fuels and lubricants.................| 113.8 111.8 110.1 108.6 108.7 108.6 Manufacturing industries ....................| 113.0 111.2 109.2 108.3 107.5 106.8 Nonmanufacturing industries..................| 113.8 111.8 110.3 108.4 108.9 109.3 Containers.....................................| 153.0 153.2 153.0 153.3 153.8 154.0 Supplies.......................................| 139.0 138.7 138.7 139.0 139.0 138.8 Manufacturing industries.....................| 145.5 145.4 145.8 146.6 146.3 145.8 Nonmanufacturing industries..................| 136.2 135.9 135.7 135.9 136.0 135.9 Feeds......................................| 102.9 98.3 95.8 93.2 93.2 95.0 Other supplies.............................| 140.3 140.5 140.6 141.0 141.2 140.8 | Crude materials for further processing...........| 165.8 141.8 131.6 132.8 129.7 121.9 Foodstuffs and feedstuffs......................| 107.3 105.9 109.3 108.8 107.6 107.5 Nonfood materials..............................| 200.1 161.4 142.1 144.5 140.3 127.4 Nonfood materials except fuel 2/.............| 109.1 111.5 106.2 106.0 106.8 107.3 Manufacturing 2/...........................| 100.3 102.7 97.7 97.5 98.2 98.6 Construction...............................| 183.6 179.3 180.8 181.0 182.9 184.9 Crude fuel 3/................................| 308.9 216.8 180.0 185.8 175.0 144.7 Manufacturing industries...................| 313.4 216.5 178.5 184.4 173.1 143.8 Nonmanufacturing industries................| 314.0 220.7 183.3 189.2 178.3 147.3 | Special groupings | | Finished goods, excluding foods..................| 142.3 142.1 141.7 142.0 142.3 141.6 Intermediate materials less foods and feeds......| 132.9 132.7 132.4 132.0 132.2 131.9 Intermediate foods and feeds.....................| 115.4 114.1 114.4 114.3 114.6 116.1 Crude materials less agricultural products 2/....| 204.2 163.9 144.3 147.3 143.1 129.7 | Finished energy goods............................| 104.3 104.7 102.9 103.0 103.2 100.6 Finished goods less energy.......................| 146.6 146.6 147.1 147.5 147.6 147.7 Finished consumer goods less energy..............| 149.4 149.7 150.2 150.8 150.9 151.0 | Finished goods less foods and energy.............| 149.6 149.2 149.4 149.7 150.0 150.1 Finished consumer goods less foods and energy....| 156.1 155.8 156.0 156.3 157.0 157.0 Consumer nondurable goods less foods and energy..| 173.3 173.5 173.5 174.0 175.3 175.5 | Intermediate energy goods........................| 113.3 111.4 109.7 108.1 108.2 108.1 Intermediate materials less energy...............| 135.8 135.9 136.0 135.9 136.0 135.9 Intermediate materials less foods and energy.....| 137.1 137.3 137.4 137.3 137.5 137.1 | Crude energy materials 2/........................| 214.8 165.3 141.0 145.2 139.8 123.1 Crude materials less energy......................| 115.2 113.6 115.4 114.2 113.2 113.0 Crude nonfood materials less energy 3/...........| 139.1 136.6 134.2 130.7 130.5 130.3 _____________________________________________________________________________________________________________ 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 February 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 Legal Services 8111 Engineering, Design, Analysis, and Consulting Services 8711 Architectural, Design, Analysis, and Consulting Services 8712 Premiums for Property and Casualty Insurance 9331 PPI Detailed Report Issue July 1999 July 1995 July 2000 July 2000 July 2000 July 2000 July 2000 July 2000 July 2000 January 2001 January 2001 January 1999 July 1998 January January January January January 1996 1996 1998 1997 1997 January 1997 January 1997 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.
@FedFRASER