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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 01-84 TRANSMISSION OF MATERIAL IN THIS RELEASE IS EMBARGOED UNTIL 8:30 A.M. (E.D.T.), THURSDAY, APRIL 12, 2001 Producer Price Indexes -- March 2001 The Producer Price Index for Finished Goods edged down 0.1 percent in March, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This decline followed a 0.1-percent rise in February and a 1.1-percent advance in January. The index for finished goods other than foods and energy edged up 0.1 percent in March, following a 0.3-percent decrease in the prior month. Prices received by producers of intermediate goods fell 0.2 percent in March, following a 0.1percent decrease in the prior month. The crude goods index declined 1.7 percent, after dropping 14.2 percent in February. (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 Mar. 0.9 0.1 5.3 0.1 4.3 1.0 1.8 Apr. -.3 1.1 -3.5 0 3.6 -.1 -1.5 May 0 .1 -.8 .2 3.7 0 3.1 June .9 -.4 6.1 .1 4.4 .9 8.5 July -.1 -.1 -.6 .1 4.3 .2 -2.0 Aug. -.1 -.4 -1.2 .2 3.4 -.3 -3.6 Sept. .7 .2 3.4 .3 3.5 .8 7.1 Oct. .4 .7 1.5 0 3.7 .2 3.8 Nov. .1 .2 r.5 r.1 r3.8 -.2 r-1.3 Dec. r.1 -.4 r1.2 r-.1 3.6 .4 r6.1 2001 Jan. Feb. 1.1 .1 .8 .6 3.8 1.4 .7 -.3 4.8 4.0 .7 -.1 13.9 -14.2 Mar. -.1 1.1 -2.6 .1 3.1 -.2 -1.7 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for November 2000 have been revised to reflect the availability of late reports and corrections by respondents. Among finished goods, prices for energy goods turned down 2.6 percent in March, compared with a 1.4-percent increase in the previous month. Conversely, the index for finished consumer goods other than foods and energy rose 0.3 percent, after falling 0.4 percent in February. Prices for finished consumer foods rose more than they did a month earlier. The capital equipment index showed no change in March, after falling 0.3 percent in the prior month. During the first quarter of 2001, the Finished Goods Price Index moved up at a seasonally adjusted annual rate (SAAR) of 4.9 percent, following a 2.9-percent rate of increase during the fourth quarter of 2000. Finished consumer food prices moved up at a 10.6-percent SAAR during the first quarter of 2001, following a 2.4-percent annual rate of increase from September 2000 to December 2000. Prices for finished goods other than foods and energy advanced at a 1.9-percent SAAR for the first three months of 2001, after showing no change during the prior quarter. By contrast, the index for finished energy goods rose at a 10.8-percent SAAR from December 2000 to March 2001, after increasing at a 13.8-percent annual rate over the last three months of 2000. Prices for Intermediate Materials, Supplies, and Components advanced at a 1.5-percent SAAR, for the second consecutive calendar quarter. During the first quarter of 2001, the Producer Price Index for Crude Materials for Further Processing decreased at a SAAR of 14.9 percent, following a 39.8-percent rate of increase in the final quarter of 2000. (See summary below.) Summary of December-to-December and 3-month seasonally adjusted annual rates for selected stages of process Grouping Finished goods Finished consumer foods Finished energy goods Percentage change 12 months ended in December 1998 1999 2000 0.0 .1 -11.7 2.9 .8 18.1 3.6 1.7 17.1 Seasonally adjusted annual rate for: 3 3 3 3 months months months months ended ended ended ended in in in in June Sep. Dec. Mar. 2000 2000 2000 2001 2.3 3.3 6.5 2.0 -1.2 6.4 2.9 2.4 13.8 4.9 10.6 10.8 Finished goods less foods and energy Finished consumer goods excluding foods and energy Capital equipment 2.5 .9 1.2 1.1 2.5 0 1.9 4.2 0 1.2 .3 1.2 1.2 1.3 1.5 2.4 1.7 .3 .3 2.9 0 3.7 -4.2 19.6 4.1 3.5 19.5 3.1 7.0 4.5 2.8 -7.9 20.8 1.5 10.1 11.0 1.5 2.8 2.2 1.9 1.6 2.7 .3 -.6 1.8 4.0 4.1 7.2 .3 -.3 6.4 2.4 .6 -1.2 0 -3.7 -4.3 2.2 .1 -.8 -2.1 -.5 .3 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 Crude materials for further processing -16.7 15.3 31.6 47.9 4.9 39.8 -14.9 Foodstuffs and feedstuffs -11.0 -.1 7.2 -7.3 -8.2 36.0 15.2 Crude energy materials -23.8 36.9 76.0 163.6 20.0 64.0 -31.0 Crude nonfood materials less energy -16.0 14.0 -5.8 -11.9 -8.8 -10.2 -12.4 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 fell 0.4 percent in March to stand at 141.0 (1982=100). From March 2000 to March 2001, the Finished Goods Index increased 3.1 percent. Over the same period, the index for finished energy goods advanced 9.7 percent, prices for finished consumer foods increased 3.6 percent, and the index for finished goods other than foods and energy gained 1.4 percent. Prices received by domestic producers of intermediate goods rose 2.3 percent for the 12 months ended in March 2001, and the index for crude goods jumped 16.5 percent during the same period. Finished goods Prices for finished energy goods fell 2.6 percent in March, following a 1.4-percent gain in February. After registering a 9.2-percent increase in February, the index for liquefied petroleum gas declined 16.4 percent. Prices for residential natural gas and finished lubricants also turned down in March, after rising in the previous month. March's index for residential electric power increased at a slower rate than it did in February. Prices for home heating oil fell more in March than they did in the prior month. By contrast, gasoline prices moved up 0.5 percent in March, following a 0.8-percent decline in February. 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 Mar. 1.0 4.0 0.4 5.9 2.6 2.3 -0.5 26.9 Apr. .8 -2.5 .4 5.3 1.4 -4.5 -.7 22.2 May .9 -1.1 .1 5.0 -.9 8.8 -.7 19.0 June 0 4.9 .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. r.2 r-.2 -.1 4.2 r1.2 r-2.7 r-2.1 r17.6 Dec. r1.6 r1.7 r-.1 4.1 r3.5 r9.8 r.1 31.6 2001 Jan. 1.7 3.1 .2 4.4 2.2 25.0 .5 46.5 Feb. -1.5 -1.1 .1 3.5 -1.6 -23.3 -2.5 20.8 Mar. .5 -1.4 .1 2.3 3.0 -4.9 -1.3 16.5 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for November 2000 have been revised to reflect the availability of late reports and corrections by respondents. The index for finished consumer goods other than foods and energy rose 0.3 percent in March, after decreasing 0.4 percent in February. Prices for light motor trucks increased 0.5 percent, following a 3.6-percent drop in the previous month. The indexes for passenger cars, alcoholic beverages, and for sanitary papers and health products also turned up in March. Prescription drug prices rose more in March than they did in February. On the other hand, the index for floor coverings moved down 2.8 percent in March, after increasing 1.4 percent in the prior month. March prices for women's apparel and pet food also turned down, after rising a month earlier. The index for household appliances fell more than it did in February. During the first quarter of 2001, the index for finished consumer goods other than foods and energy increased at a SAAR of 2.9 percent, following a 0.3-percent rate of increase in the final quarter of 2000. Prices for finished consumer foods advanced 1.1 percent in March, following a 0.6-percent gain in February. The dairy products index rose 2.2 percent, after registering a 0.7-percent decrease a month ago. Price increases for pork and bakery products accelerated from February to March. The indexes for fresh fruits and melons and for soft drinks turned up, following declines in the prior month. Beef and veal prices moved up in March, after showing no change in the previous month. On the other hand, the finfish and shellfish index posted a 5.3-percent drop in March, following a 9.3-percent advance in February. Prices for processed young chickens and for fresh and dry vegetables rose less in March they did a month earlier. The indexes for eggs for fresh use, processed fruits and vegetables, and processed turkeys turned down, after increasing in the previous month. The capital equipment index showed no change in March, after decreasing 0.3 percent in February. Price increases for passenger cars, light motor trucks, civilian aircraft, heavy motor trucks, and commercial furniture were offset by falling prices for electronic computers; tools, dies, jigs, fixtures, and industrial molds; office and store machines and equipment; pumps, compressors, and equipment; and x-ray and electromedical equipment. The capital equipment index showed no change on a seasonally adjusted annual rate basis during the first quarter of 2001, following a 0.3-percent rate of increase in the final quarter of 2000. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components declined 0.2 percent in March, seasonally adjusted, after edging down 0.1 percent in February. Decreasing prices for intermediate energy goods, nondurable manufacturing materials, and durable manufacturing materials outweighed increasing prices for intermediate foods and feeds and materials and components for construction. Excluding foods and energy, the index for intermediate materials, supplies, and components inched up 0.1 percent for the second consecutive month. (See table B.) Prices for intermediate energy goods fell 1.4 percent in March, after dipping 1.1 percent in February. The commercial natural gas index dropped 8.7 percent, following a 13.5-percent rise a month earlier. Liquefied petroleum gas prices also turned down in March. The indexes for industrial natural gas and diesel fuel decreased more in March than they did in the previous month. By contrast, commercial electric power prices increased 2.6 percent in March, after declining 2.6 percent in the prior month. The indexes for industrial electric power, gasoline, and jet fuels also turned up, following February decreases. Price declines slowed from February to March for natural gas to electric utilities and residual fuels. The intermediate energy goods index advanced at a 2.2-percent SAAR from December 2000 to March 2001, after registering an 11.0-percent rate of increase during the previous three months. Prices for nondurable manufacturing materials fell 0.3 percent in March, following a 0.7-percent gain in the prior month. Leading this deceleration, the index for primary basic organic chemicals declined 9.2 percent, after rising 2.8 percent in February. Prices for basic inorganic chemicals and synthetic fibers also moved down, following increases a month earlier. The fertilizer materials index advanced less in March than it did in the previous month. The rate of decrease in prices for woodpulp and intermediate basic organic chemicals quickened in March. Conversely, the paperboard index dipped 0.3 percent, after posting a 1.6-percent drop in February. Paper prices increased, after showing no change in the prior month. The indexes for paint materials and medicinal and botanical chemicals turned up, following February declines. Prices for nondurable manufacturing materials rose at a seasonally adjusted annual rate of 6.4 percent during the first quarter of 2001, after falling at a 0.3-percent annual rate for the previous quarter. The index for durable manufacturing materials decreased at a 0.2percent rate in March, the same rate of decline observed in February. Falling prices for steel mill products, copper and brass mill shapes, primary aluminum (except extrusion billet), copper cathode and refined copper, and silver outweighed rising prices for plywood, prepared paint, aluminum mill shapes, gold, and flat glass. From December 2000 to March 2001, the index for materials for durable manufacturing decreased at a 4.3percent SAAR, following a 3.7-percent annual rate of decline during the final quarter of 2000. Intermediate foods and feeds prices turned up 0.5 percent in March, after falling 1.5 percent in February. The index for fluid milk products gained 1.8 percent, following a 3.5-percent decrease in the previous month. Prices for crude vegetable oils also rose, after declining in February. The index for prepared animal feeds fell less in March than it did a month earlier. Beef and veal prices advanced, after showing no change in February, while the pork index increased at a faster rate than in the prior month. By contrast, a 2.1-percent drop in refined sugar prices was registered in March, following a 2.5-percent rise in the previous month. During the first quarter of 2001, the intermediate foods and feeds index advanced at a 2.8-percent SAAR, after increasing at a 10.1-percent annual rate during the prior quarter. In March, the index for materials and components for construction edged up 0.1 percent, following a 0.3-percent gain a month earlier. Advancing prices for gypsum products, plywood, softwood lumber, millwork, and metal valves (except fluid power) more than offset declining prices for plastic construction products, fabricated structural metal products, heating equipment, nonferrous wire and cable, and steel wire. From December 2000 to March 2001, the index for materials and components for construction increased at a 0.3-percent SAAR, after decreasing at a 0.5percent annual rate for the previous quarter. Crude Goods The Producer Price index for Crude Materials for Further Processing fell 1.7 percent in March, seasonally adjusted, following a 14.2-percent decline in February. Prices for crude energy materials decreased less in March than they did in the previous month. The crude foodstuffs and feedstuffs index turned up, after falling in the prior month. Basic industrial materials prices declined at a slower rate in March than they did in February. (See table B.) Prices for crude energy materials posted a 4.9-percent decrease in March, following a 23.3-percent decline in February. The natural gas index fell 4.7 percent, after dropping 34.7 percent in the prior month. On the other hand, crude petroleum prices decreased 7.1 percent, after gaining 2.7 percent a month ago. The coal index declined 0.4 percent, after rising 12.8 percent in February. Prices for crude energy materials fell at a 31.0percent SAAR from December 2000 to March 2001, following a 64.0-percent annual rate of increase from September 2000 to December 2000. The crude foodstuffs and feedstuffs index advanced 3.0 percent in March, following a 1.6-percent decline in the prior month. Prices for slaughter hogs posted a 13.8-percent increase, after falling 3.9 percent in the previous month. The indexes for corn, fluid milk, soybeans, and wheat turned up, after decreasing in February. Slaughter cattle prices rose more in March than they did in February. By contrast, the index for unprocessed finfish dropped 28.2 percent, after gaining 49.8 percent in February. Prices for raw cane sugar, alfalfa hay, and slaughter turkeys turned down, after advancing in the prior month. The indexes for slaughter broilers and fryers and fresh vegetables, except potatoes increased at a slower rate in March than they did in February. From December 2000 to March 2001, prices for crude foodstuffs and feedstuffs rose at a 15.2-percent SAAR, following a 36.0-percent annual rate of increase in the final quarter of 2000. The index for basic industrial materials fell 1.3 percent, following a 2.5-percent decline in February. Wastepaper prices decreased 4.0 percent, after falling 8.3 percent in the previous month. The indexes for iron and steel scrap, gold ores, and aluminum base scrap turned up, after declining in February. Prices for softwood logs, bolts, and timber decreased at a slower rate in March than they did in February. On the other hand, the index for raw cotton posted a 16.4-percent decline, after falling 4.1 percent a month ago. Prices for leaf tobacco turned down, after rising in February. The index for copper base scrap fell more than it did in the previous month. Prices for construction sand, gravel, and crushed stone and pulpwood rose at a slower rate in March than they did in February. The basic industrial materials index fell at a 12.4-percent SAAR from December 2000 to March 2001, following a 10.2-percent rate of decrease in the final quarter of 2000. Net output price indexes for mining, manufacturing, and services industries Mining. The Producer Price Index for the Net Output of Total Mining Industries declined 5.4 percent in March, after falling 19.1 percent in the previous month. (Net output price indexes are not seasonally adjusted.) Dominating this slowdown in the rate of decrease in mining industry prices, the index for the crude petroleum, natural gas, and natural gas liquids industry fell 6.9 percent, following a 23.5-percent drop in February. Also contributing, prices received by the gold ores industry turned up 2.9 percent, after declining 1.7 percent in the prior month. The index for the copper ores industry decreased less than it did a month earlier. By contrast, prices received by the bituminous coal and lignite industry edged down 0.4 percent, following an 8.9-percent jump in February. The index for the oil and gas well drilling industry gained less in March than it did in the previous month. From December 2000 to March 2001, the Producer Price Index for the Net Output of Total Domestic Mining Industries declined at a 23.2-percent annual rate, after rising at a 57.1-percent rate in the prior calendar quarter. In March 2001, this index stood at 130.7 (December 1984=100), 32.2 percent above its year-ago level. Manufacturing. The Producer Price Index for the Net Output of Total Manufacturing Industries edged down 0.1 percent in March, after showing no change in February. Declining prices paid to the industry groups for petroleum refining and related products; measuring and controlling instruments; textile mill products; electrical and electronic machinery, equipment, and supplies; and primary metal industries slightly outweighed advancing prices paid to the industry groups for food and kindred products; chemicals and allied products; rubber and miscellaneous plastic products; printing, publishing, and allied industries; and lumber and wood products (except furniture). During the first quarter of 2001, the Producer Price Index for the Net Output of Total Domestic Manufacturing Industries advanced at a 0.6-percent annual rate, following a 0.9-percent annual rate of decline from September 2000 to December 2000. In March 2001, this index stood at 134.6 (December 1984=100), 1.3 percent above its year-ago level. Services. Among service industries in March, rising prices were registered by the industries for operators and lessors of nonresidential buildings, offices of physicians, property and casualty insurance, scheduled air transportation, general medical and surgical hospitals, and hotels and motels. By contrast, prices received by the industries for deep sea foreign transportation of freight, wireless telecommunications, real estate agents and managers, trucking (except local), specialty hospitals (except psychiatric), and home health care services fell in March. ***** Producer Price Index data for April 2001 will be released on Friday, May 11, 2001 at 8:30 a.m. (E.D.T.) Producer price indexes and percent changes by stage of processing Table 1. (1982=100) _______________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | Relative | Unadjusted index |change to |percent change from: Grouping |importance| |Mar. 2001 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | |Nov. |Feb. |Mar. | Mar. | Feb. |Dec. to|Jan. to |Feb. to | 2000 1/|2000 2/|2001 2/|2001 2/| 2000 | 2001 | Jan. | Feb. | Mar. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 140.0 141.5 141.0 3.1 -0.4 1.1 0.1 -0.1 Finished consumer goods........................| 76.120 140.5 142.5 141.9 3.8 -.4 1.4 .4 -.1 Finished consumer foods......................| 22.499 138.2 139.5 140.9 3.6 1.0 .8 .6 1.1 Crude......................................| 1.542 135.4 136.6 137.7 15.7 .8 7.3 3.8 1.3 Processed..................................| 20.957 138.4 139.7 141.2 2.8 1.1 .3 .4 1.0 Finished consumer goods, excluding foods.....| 53.620 141.3 143.6 142.1 3.9 -1.0 1.8 .2 -.7 Nondurable goods less foods................| 38.181 142.1 145.9 143.8 5.4 -1.4 2.3 .5 -1.0 Durable goods..............................| 15.440 Capital equipment..............................| 23.880 Manufacturing industries.....................| 6.280 Nonmanufacturing industries..................| 17.600 | Intermediate materials, supplies, and components.| 100.000 Materials and components for manufacturing.....| 45.394 Materials for food manufacturing.............| 3.220 Materials for nondurable manufacturing.......| 15.694 Materials for durable manufacturing..........| 9.899 Components for manufacturing.................| 16.581 Materials and components for construction......| 13.213 Processed fuels and lubricants.................| 15.680 Manufacturing industries ....................| 5.584 Nonmanufacturing industries..................| 10.096 Containers.....................................| 3.971 Supplies.......................................| 21.742 Manufacturing industries.....................| 5.000 Nonmanufacturing industries..................| 16.742 Feeds......................................| 1.226 Other supplies.............................| 15.517 | Crude materials for further processing...........| 100.000 Foodstuffs and feedstuffs......................| 31.781 Nonfood materials..............................| 68.219 Nonfood materials except fuel 3/.............| 30.839 Manufacturing 3/...........................| 29.876 Construction...............................| 0.963 Crude fuel 4/................................| 37.380 Manufacturing industries...................| 3.190 Nonmanufacturing industries................| 34.190 | Special groupings | | Finished goods, excluding foods..................|5/ 77.501 Intermediate materials less foods and feeds......|6/ 95.554 Intermediate foods and feeds.....................|6/ 4.446 Crude materials less agricultural products 3/ 7/.|8/ 66.283 | Finished energy goods............................|5/ 15.572 Finished goods less energy.......................|5/ 84.428 Finished consumer goods less energy..............|5/ 60.548 | Finished goods less foods and energy.............|5/ 61.929 Finished consumer goods less foods and energy....|5/ 38.049 135.4 139.9 139.9 139.8 134.2 139.7 140.2 139.5 134.1 139.7 140.1 139.5 .2 .9 .6 1.0 -.1 0 -.1 0 .2 .3 .2 .4 -.7 -.3 -.1 -.5 130.5 128.0 118.9 133.3 127.5 126.5 150.1 108.0 105.1 109.3 153.0 138.0 145.2 135.0 95.2 139.8 131.3 128.8 120.3 136.1 127.0 126.2 150.0 109.9 109.3 109.9 153.0 138.5 145.0 135.7 98.2 140.3 130.8 128.9 122.3 135.8 126.7 126.4 150.2 106.9 106.9 106.5 152.8 138.7 145.7 135.8 95.8 140.6 2.3 1.0 3.6 3.4 -2.3 .3 -.7 9.8 11.4 8.9 3.2 2.0 2.4 1.9 1.2 1.9 -.4 .1 1.7 -.2 -.2 .2 .1 -2.7 -2.2 -3.1 -.1 .1 .5 .1 -2.4 .2 .7 .4 .8 1.1 -.7 .1 -.3 3.2 3.1 3.3 0 .6 .3 .6 3.6 .4 -.1 .1 -.2 .7 -.2 -.2 .3 -1.1 -1.3 -1.0 .1 -.3 .1 -.3 -4.6 0 -.2 .1 1.7 -.3 -.2 .2 .1 -1.5 -1.4 -1.5 -.1 .1 .5 0 -2.4 .3 128.4 100.4 143.0 123.8 114.4 183.5 157.8 158.7 160.5 133.2 104.5 148.2 110.8 102.0 179.4 187.7 186.5 191.1 131.5 108.9 142.2 106.4 97.8 180.8 180.0 178.5 183.3 16.5 7.4 21.9 -12.4 -12.5 -10.9 78.6 78.3 78.5 -1.3 4.2 -4.0 -4.0 -4.1 .8 -4.1 -4.3 -4.1 13.9 2.2 19.4 -5.0 -5.1 .3 39.7 41.1 39.5 -14.2 -1.6 -19.3 0 .1 -2.2 -30.2 -31.8 -30.1 -1.7 3.0 -4.1 -4.1 -4.2 .7 -4.1 -4.3 -4.1 140.4 131.5 111.7 144.7 142.0 132.3 113.6 150.1 140.9 131.7 114.1 144.4 2.9 2.3 2.8 23.0 -.8 -.5 .4 -3.8 1.3 .8 1.7 20.1 0 -.1 -1.5 -19.7 -.4 -.2 .5 -3.9 98.9 146.1 148.7 103.6 146.6 149.5 99.7 147.1 150.2 9.7 1.9 2.4 -3.8 .3 .5 3.8 .7 .8 1.4 -.1 0 -2.6 .4 .5 149.2 155.4 149.4 155.9 149.5 156.1 1.4 1.6 .1 .1 .7 .8 -.3 -.4 .1 .3 0 0 .1 .1 Consumer nondurable goods less foods and energy..|5/ 22.609 171.2 173.2 173.5 2.6 .2 1.2 0 .2 | Intermediate energy goods........................|6/ 15.800 107.6 109.5 106.4 9.6 -2.8 3.1 -1.1 -1.4 Intermediate materials less energy...............|6/ 84.200 135.2 135.8 136.0 1.1 .1 .3 0 .1 Intermediate materials less foods and energy.....|6/ 79.754 136.8 137.3 137.4 1.0 .1 .2 .1 .1 | Crude energy materials 3/........................|8/ 52.860 140.9 148.3 141.0 37.6 -4.9 25.0 -23.3 -4.9 Crude materials less energy......................|8/ 47.141 109.9 112.4 115.2 1.0 2.5 1.7 -1.9 1.7 Crude nonfood materials less energy 4/...........|8/ 15.359 137.8 136.1 134.6 -10.8 -1.1 .5 -2.5 -1.3 | _______________________________________________________________________________________________________________________________ 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 November 2000 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 | | |Mar. 2001 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Nov. |Feb. |Mar. | Mar. | Feb. |Dec. to|Jan. to|Feb. to | |2000 1/|2001 1/|2001 1/| 2000 | 2001 | Jan. | Feb. | Mar. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 140.0 141.5 141.0 3.1 -0.4 1.1 0.1 -0.1 | FINISHED CONSUMER GOODS...............................| 140.5 142.5 141.9 3.8 -.4 1.4 .4 -.1 | FINISHED CONSUMER FOODS..............................| 138.2 139.5 140.9 3.6 1.0 .8 .6 1.1 | | 01-11 | Fresh fruits and melons 2/..........................| 93.3 88.5 90.9 -5.3 2.7 4.3 -8.3 2.7 01-13 | Fresh and dry vegetables 2/.........................| 149.2 145.8 156.0 27.5 7.0 16.2 13.2 7.0 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 99.7 89.6 88.2 26.0 -1.6 -3.2 1.0 -9.1 02-11 | Bakery products 2/..................................| 184.5 185.8 187.3 3.7 .8 .2 .4 .8 02-13 | Milled rice 2/......................................| 96.1 92.3 90.0 -13.4 -2.5 -.5 -2.3 -2.5 02-14-02 | Pasta products (June 1985=100) 2/...................| 121.5 121.7 121.9 .2 .2 .2 0 .2 02-21-01 | Beef and veal.......................................| 114.5 123.1 125.9 13.2 2.3 3.4 0 3.2 02-21-04 02-22-03 02-22-06 02-23 02-3 02-4 02-55 02-62 02-63-01 02-78 | | | | | | | | | | | | | 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 | 15-12 | 15-2 | 15-5 | 15-94-02 | 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 2/.........................................| Residential electric power (Dec. 1990=100)..........| Residential gas (Dec. 1990=100).....................| Gasoline............................................| Fuel oil No. 2......................................| Pharmaceutical preps, ethical (Prescription) 2/.....| Pharmaceutical preps,proprietary (Over-counter) 2/..| Soaps and synthetic detergents 2/...................| Cosmetics and other toilet preparations 2/..........| Tires, tubes, tread, etc 2/.........................| Sanitary papers and health products 2/..............| Newspaper circulation 2/............................| Periodical circulation..............................| Book publishing.....................................| Household furniture 2/..............................| Floor coverings 2/..................................| Household appliances ...............................| Home electronic equipment 2/........................| Household glassware.................................| Household flatware 2/...............................| Lawn and garden equip., ex. tractors 2/.............| Passenger cars......................................| Toys, games, and children's vehicles 2/.............| Sporting and athletic goods 2/......................| Tobacco products 2/.................................| Mobile homes 2/.....................................| Jewelry, platinum, & karat gold 2/..................| 105.5 114.7 107.9 190.0 135.2 127.9 170.4 144.6 126.3 132.9 108.5 111.5 91.6 211.4 136.1 128.1 170.9 146.8 126.3 129.2 116.6 112.9 93.2 200.1 138.6 127.8 170.8 147.7 126.1 131.6 4.4 4.7 -2.4 .9 5.8 -1.0 .2 2.7 -9.1 -.9 7.5 1.3 1.7 -5.3 1.8 -.2 -.1 .6 -.2 1.9 -2.6 -2.4 -2.9 .2 1.6 .2 .1 .6 -.1 -2.1 1.3 5.6 1.9 9.3 -.7 .4 .2 -.4 .1 -.3 7.8 .5 -1.4 -5.3 2.2 -.2 -.1 .7 -.2 1.9 141.3 143.6 142.1 3.9 -1.0 1.8 .2 -.7 142.0 124.4 133.3 116.5 121.3 144.9 109.9 155.7 98.8 106.7 346.1 187.5 130.1 138.6 93.3 147.5 214.8 198.4 222.9 153.6 130.6 106.5 71.2 167.6 148.0 132.4 135.6 122.6 125.5 403.9 162.5 127.1 143.2 123.4 133.0 116.6 122.2 146.2 113.0 190.0 94.0 93.7 350.9 187.3 130.2 138.5 93.3 145.8 215.3 199.3 222.4 154.2 133.5 106.3 71.0 168.4 148.8 132.8 133.3 122.6 125.6 426.9 162.2 126.7 144.7 123.0 132.9 116.7 122.4 146.1 113.1 180.2 91.2 83.3 354.0 187.9 130.2 138.8 93.6 145.9 215.2 200.6 222.3 154.9 129.8 105.7 71.1 169.2 148.8 132.6 133.3 123.0 126.8 426.8 162.3 126.5 4.9 -1.3 -.3 -2.5 .2 .9 5.5 52.2 -3.9 -8.3 3.4 .3 2.4 1.8 .9 .2 3.4 1.4 3.6 1.8 .6 -2.1 -1.3 2.1 6.3 .3 .1 1.4 .2 7.0 1.3 -.5 1.0 -.3 -.1 .1 .2 -.1 .1 -5.2 -3.0 -11.1 .9 .3 0 .2 .3 .1 0 .7 0 .5 -2.8 -.6 .1 .5 0 -.2 0 .3 1.0 0 .1 -.2 -.1 -.1 -.2 -1.5 .2 -.4 1.4 11.3 1.6 -3.6 .5 -.2 .3 .3 -.2 1.8 -.3 -.5 .6 .1 -.8 -.3 -.3 .6 0 .7 1.2 .1 .1 5.6 .1 -.2 -.5 .1 -.1 0 .6 .9 1.0 3.5 -.8 -1.6 .1 .4 -.3 -.3 .2 -1.5 .4 0 0 .1 1.4 -.1 -.1 -.2 0 .2 -1.5 .3 .2 0 0 -.4 1.3 -.3 -.2 .1 .2 -.1 .2 -4.0 .5 -9.2 .9 .3 0 .2 .3 .1 0 1.0 .4 .5 -2.8 -.6 .1 .1 0 -.2 .6 .3 1.0 0 .1 -.2 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 03-1 03-2 03-3 03-4 | Costume jewelry and novelties 2/....................| | | | CAPITAL EQUIPMENT.....................................| | | | Agricultural machinery and equipment 2/.............| | Construction machinery and equipment................| | Metal cutting machine tools 2/......................| | Metal forming machine tools 2/......................| | Tools, dies, jigs, fixtures, and ind. molds 2/......| | Pumps, compressors, and equipment...................| | Industrial material handling equipment 2/...........| | Electronic computers (Dec. 1998=100) 2/.............| | Textile machinery 2/................................| | Paper industries machinery (June 1982=100)..........| | Printing trades machinery 2/........................| | Transformers and power regulators 2/................| | Communication & related equip. (Dec. 1985=100) 2/...| | X-ray and electromedical equipment 2/...............| | Oil field and gas field machinery ..................| | Mining machinery and equipment 2/...................| | Office and store machines and equipment 2/..........| | Commercial furniture 2/.............................| | Light motor trucks..................................| | Heavy motor trucks 2/...............................| | Truck trailers 2/...................................| | Civilian aircraft (Dec. 1985=100)...................| | Ships (Dec. 1985=100) 2/............................| | Railroad equipment 2/...............................| | | |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...........| | | | Synthetic fibers 2/.................................| | Processed yarns and threads 2/......................| | Gray fabrics 2/.....................................| | Finished fabrics....................................| 142.3 142.3 142.3 1.0 0 139.9 139.7 139.7 .9 0 154.4 148.9 162.2 162.4 141.2 155.1 135.4 70.2 156.6 164.8 142.9 134.8 110.4 101.1 129.4 146.5 112.4 158.9 160.8 148.3 140.4 163.7 148.6 135.8 153.1 149.0 162.5 163.5 142.2 156.5 136.4 64.3 157.0 165.7 143.6 134.9 110.4 100.3 130.7 147.6 112.9 159.6 154.8 149.0 138.9 166.0 148.5 135.8 154.0 149.0 163.2 163.5 140.2 156.3 136.6 60.5 157.0 165.8 143.6 134.8 110.4 100.0 131.5 147.6 112.2 160.0 155.2 149.9 138.8 166.2 148.6 135.8 .5 .5 .9 1.8 -.8 1.8 2.0 -20.9 .8 .5 1.6 -.5 -.4 -1.5 2.9 1.4 -.1 1.3 -1.5 1.4 .5 6.1 1.5 .1 130.5 131.3 130.8 111.7 113.6 106.1 106.0 94.3 66.0 103.6 0 0 0 .3 -.3 0 .6 0 .4 0 -1.4 -.1 .1 -5.9 0 .1 0 -.1 0 -.3 .6 0 -.6 .3 .3 .6 -.1 .1 .1 0 -.1 -.4 .1 -.3 .5 .3 .5 -5.4 -.1 -.1 -.1 .6 -.1 .3 -.4 .5 -.1 .4 .3 .5 0 .6 1.4 0 -.1 -.1 .1 .8 .2 .3 .1 -1.1 0 .5 0 -.4 0 0 .9 .1 -.6 .1 -3.6 -.2 -.4 .4 0 0 .6 .3 .4 0 -1.4 -.3 .1 -5.9 0 -.1 0 -.1 0 -.3 .5 0 -.6 .3 .5 .6 -.1 .2 .1 0 2.3 -.4 .7 -.1 -.2 114.1 2.8 .4 1.7 -1.5 .5 107.0 110.4 101.7 59.3 106.4 108.9 108.1 104.7 65.6 104.3 6.1 -4.5 11.0 -18.2 1.4 1.8 -2.1 2.9 10.6 -2.0 1.3 1.6 8.1 -4.2 3.0 -.5 2.5 .7 -2.9 -3.5 1.8 -2.1 2.9 10.6 -2.0 131.5 132.3 131.7 2.3 -.5 .8 -.1 -.2 109.9 107.7 114.4 121.8 111.4 108.0 115.7 121.7 111.3 107.4 115.3 121.9 6.0 -.3 2.1 -.7 -.1 -.6 -.3 .2 -1.2 .6 .3 -.8 2.0 -.5 .3 -.3 -.1 -.6 -.3 -.2 03-83-03 | Industrial textile products 2/......................| 131.3 131.8 131.7 .6 -.1 .3 0 -.1 04-2 | Leather 2/..........................................| 189.0 196.2 198.9 10.7 1.4 2.1 2.3 1.4 05-32 | Liquefied petroleum gas 2/..........................| 147.2 189.4 158.4 23.0 -16.4 15.3 9.2 -16.4 ____________________________________________________________________________________________________________________________________ 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 | | |Mar. 2001 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Nov. |Feb. |Mar. | Mar. | Feb. |Dec. to|Jan. to|Feb. to | |2000 1/|2001 1/|2001 1/| 2000 | 2001 | Jan. | Feb. | Mar. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 130.2 131.6 134.9 7.3 2.5 3.9 -2.6 2.6 05-43 | Industrial electric power...........................| 130.9 134.8 136.6 7.8 1.3 3.1 -1.4 1.4 05-52 | Commercial natural gas (Dec. 1990=100)..............| 157.7 224.4 200.9 74.2 -10.5 21.1 13.5 -8.7 05-53 | Industrial natural gas (Dec. 1990=100)..............| 164.7 236.0 207.9 86.0 -11.9 10.3 -.7 -9.0 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 146.2 202.7 185.1 86.2 -8.7 64.4 -29.8 -5.2 05-72-03 | Jet fuels...........................................| 104.6 87.5 83.1 -1.3 -5.0 -12.9 -.6 .3 05-73-03 | No. 2 Diesel fuel...................................| 110.4 93.4 86.3 -4.1 -7.6 -5.4 -3.3 -7.0 05-74 | Residual fuel 2/....................................| 95.5 79.5 78.1 0 -1.8 -4.2 -6.7 -1.8 06-1 | Industrial chemicals 2/.............................| 129.3 135.6 133.5 4.3 -1.5 2.1 2.0 -1.5 06-21 | Prepared paint......................................| 161.4 163.5 164.1 2.3 .4 .1 .4 .4 06-22 | Paint materials 2/..................................| 149.8 150.8 151.7 2.6 .6 1.1 -.6 .6 06-31 | Medicinal and botanical chemicals 2/................| 145.6 143.8 144.3 -1.5 .3 -1.0 -.3 .3 06-4 | Fats and oils, inedible 2/..........................| 63.9 69.2 63.9 -14.0 -7.7 16.6 -12.0 -7.7 06-51 | Mixed fertilizers...................................| 112.7 117.6 118.0 5.4 .3 1.6 1.2 -.2 06-52-01 | Nitrogenates........................................| 133.9 186.6 185.9 72.1 -.4 24.1 4.1 -1.1 06-52-02 | Phosphates 2/.......................................| 94.8 97.4 98.9 1.3 1.5 -1.7 2.4 1.5 06-53 | Other agricultural chemicals 2/.....................| 146.0 147.2 148.4 1.6 .8 4.8 -4.0 .8 06-6 | Plastic resins and materials 2/.....................| 138.8 142.3 144.9 3.9 1.8 2.3 2.0 1.8 07-11-02 | Synthetic rubber 2/.................................| 122.6 123.8 124.5 8.9 .6 -1.0 1.0 .6 07-21 | Plastic construction products ......................| 134.2 134.6 133.1 -1.5 -1.1 0 .3 -1.0 07-22 | Unsupported plastic film, sheet, & other shapes 2/..| 142.7 132.9 141.4 8.0 6.4 1.1 .3 6.4 07-26 | Plastic parts and components for manufacturing 2/...| 117.1 117.6 117.5 .3 -.1 .8 -.9 -.1 08-11 | Softwood lumber 2/..................................| 165.9 163.9 165.2 -14.4 .8 -2.9 2.2 .8 08-12 | Hardwood lumber ....................................| 187.0 185.2 184.7 -.2 -.3 .4 -1.0 -.3 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 15-6 | Millwork 2/.........................................| | Plywood 2/..........................................| | Woodpulp 2/.........................................| | Paper 2/............................................| | Paperboard 2/.......................................| | Paper boxes and containers 2/.......................| | Building paper and board 2/.........................| | Commercial printing (June 1982=100) 2/..............| | Foundry and forge shop products.....................| | Steel mill products 2/..............................| | Primary nonferrous metals 2/........................| | Aluminum mill shapes 2/.............................| | Copper and brass mill shapes 2/.....................| | Nonferrous wire and cable 2/........................| | Metal containers 2/.................................| | Hardware............................................| | Plumbing fixtures and brass fittings................| | Heating equipment...................................| | Fabricated structural metal products................| | Fabricated ferrous wire products (June 1982=100) 2/.| | Other misc. metal products 2/.......................| | Mechanical power transmission equipment.............| | Air conditioning and refrigeration equipment 2/.....| | Metal valves, ex.fluid power (Dec. 1982=100) 2/.....| | 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................| | | 176.4 152.6 151.3 151.8 180.2 175.6 131.3 156.7 136.7 106.2 110.4 149.8 163.4 145.1 106.0 151.7 180.1 156.1 145.0 130.3 126.0 164.5 135.0 163.1 170.0 153.1 146.3 153.3 96.9 144.1 139.1 111.6 150.1 149.1 104.9 170.2 127.4 113.4 142.0 146.5 126.4 146.5 177.1 145.7 144.3 152.0 176.5 175.4 126.4 157.2 136.9 103.8 113.1 150.2 163.6 143.2 105.6 152.4 181.5 158.1 145.1 130.1 126.5 166.1 135.9 163.7 170.8 153.9 146.6 154.0 95.3 144.1 139.4 110.8 149.8 150.6 104.4 152.9 130.0 113.1 141.8 146.8 (3) 147.7 177.7 148.0 138.5 152.8 176.0 174.7 126.4 157.4 137.0 102.9 111.8 150.3 160.9 142.7 105.6 152.6 181.9 157.0 145.0 129.9 126.4 166.4 135.8 165.1 170.8 153.8 146.8 154.7 94.7 144.1 139.9 111.0 149.2 150.9 104.6 159.8 130.2 113.4 142.6 146.8 126.4 147.7 .6 -10.8 -.5 3.5 1.4 4.5 -14.0 2.3 .3 -5.2 -2.3 .9 .6 -.7 -.5 1.2 1.0 1.7 -.3 .3 .4 1.9 .3 2.0 1.7 .9 .3 1.2 -2.2 .4 1.9 3.3 -.2 3.1 3.6 -27.9 2.3 -.4 1.6 1.6 1.4 1.4 .3 1.6 -4.0 .5 -.3 -.4 0 .1 .1 -.9 -1.1 .1 -1.7 -.3 0 .1 .2 -.7 -.1 -.2 -.1 .2 -.1 .9 0 -.1 .1 .5 -.6 0 .4 .2 -.4 .2 .2 4.5 .2 .3 .6 0 (3) 0 .3 -2.8 -3.4 .4 -.1 -.2 -2.2 0 0 -1.7 -.4 -.9 -1.5 -.6 -.2 .2 -.2 .8 -.1 .2 .4 -.4 -.1 .2 .1 .2 -.1 -.2 .1 -.3 0 .4 -.7 -.2 -.8 -5.7 2.0 0 -.9 .1 0 .5 .2 -.7 -.3 0 -1.6 .1 -.2 .1 -.4 -1.0 -.1 .3 -.4 -1.1 -.2 .1 .2 .4 .2 -.1 0 .1 .7 .1 .2 .1 -.1 .3 -1.1 0 0 -1.0 .8 1.2 -.1 -2.0 .1 .1 .6 .4 (3) 0 .3 1.6 -4.0 .5 -.3 -.4 0 .1 0 -.9 -1.1 .1 -1.7 -.3 0 .1 .1 -.6 -.2 -.2 -.1 .2 -.1 .9 -.1 -.1 .1 .5 -.6 0 .4 .2 .1 .2 .4 4.5 .2 .3 .4 .2 (3) 0 128.4 133.2 131.5 16.5 -1.3 13.9 -14.2 -1.7 | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 100.4 104.5 108.9 7.4 4.2 2.2 -1.6 3.0 | | 01-21 | Wheat 2/............................................| 87.0 85.1 89.1 11.1 4.7 5.7 -4.5 4.7 01-22-02-05| Corn................................................| 78.3 77.9 82.4 -6.2 5.8 7.0 -12.5 .8 01-31 | Slaughter cattle 2/.................................| 105.8 115.7 118.6 10.4 2.5 2.5 1.1 2.5 01-32 | Slaughter hogs......................................| 60.9 63.9 75.9 7.4 18.8 -4.2 -3.9 13.8 01-41-02 | Slaughter broilers/fryers...........................| 135.1 131.7 138.2 13.4 4.9 .3 4.3 2.9 01-42 | Slaughter turkeys...................................| 140.5 100.8 104.5 -4.0 3.7 .6 .5 -2.7 01-6 | Fluid milk..........................................| 90.1 97.5 102.0 14.2 4.6 9.9 -.2 5.7 01-83-01-31| Soybeans 2/.........................................| 79.1 75.0 76.2 -12.5 1.6 -1.5 -9.4 1.6 02-52-01-01| Cane sugar,raw 2/...................................| 111.4 122.1 111.7 11.8 -8.5 2.7 8.8 -8.5 | | | | CRUDE NONFOOD MATERIALS..............................| 143.0 148.2 142.2 21.9 -4.0 19.4 -19.3 -4.1 | | 01-51-01-01| Raw cotton..........................................| 102.8 93.4 81.2 -18.1 -13.1 -8.8 -4.1 -16.4 01-92-01-01| Leaf tobacco 2/.....................................| 104.3 121.4 107.0 1.7 -11.9 3.5 1.3 -11.9 04-11 | Cattle hides 2/.....................................| 184.0 191.6 194.3 27.7 1.4 1.9 -.2 1.4 05-1 | Coal 2/.............................................| 86.8 96.3 95.9 9.1 -.4 -3.0 12.8 -.4 05-31 | Natural gas 2/......................................| 185.0 221.6 211.1 99.7 -4.7 46.0 -34.7 -4.7 05-61 | Crude petroleum 2/..................................| 98.8 79.9 74.2 -14.6 -7.1 -10.6 2.7 -7.1 08-5 | Logs, timber, etc...................................| 186.1 182.4 183.9 -11.4 .8 -1.0 -3.2 .9 09-12 | Wastepaper 2/.......................................| 217.2 171.1 164.2 -46.9 -4.0 -5.7 -8.3 -4.0 10-11 | Iron ore 2/.........................................| 94.9 95.9 96.3 1.9 .4 1.1 0 .4 10-12 | Iron and steel scrap 2/.............................| 117.4 119.0 121.0 -24.3 1.7 8.3 -6.9 1.7 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 67.5 66.1 66.8 -.6 1.1 -.1 -2.1 1.1 10-23-01 | Copper base scrap 2/................................| 124.9 127.4 122.7 1.7 -3.7 .9 -.9 -3.7 10-23-02 | Aluminum base scrap.................................| 166.0 167.1 168.6 -12.5 .9 .7 -1.3 .9 13-21 | Construction sand, gravel, and crushed stone........| 164.3 167.0 167.5 3.8 .3 .5 .7 .2 ____________________________________________________________________________________________________________________________________ 1/ The indexes for November 2000 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. 2/ 3/ Not seasonally adjusted. Not available. Table 3. Producer price indexes for selected commodity groupings (1982=100 unless otherwise indicated) _______________________________________________________________________________________________ | | | | | Unadjusted index 1/ | Commodity| |___________________________________| code | Grouping | Nov. 2000 | Feb. 2001 |March 2001 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 392.9 | 397.1 | 395.8 | 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 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | All commodities................................| | | MAJOR COMMODITY GROUPS | | 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...............| 135.0 122.7 101.5 133.1 137.3 121.7 155.0 112.0 151.3 127.9 173.2 185.0 126.8 124.1 132.9 142.4 145.6 173.1 142.9 121.6 81.2 94.3 134.7 101.2 112.1 103.5 90.0 155.6 159.5 119.9 116.6 132.2 143.2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 136.5 124.7 103.5 135.2 138.8 121.9 158.2 116.1 155.5 126.7 171.6 185.1 126.6 123.9 133.6 143.1 144.7 177.7 143.4 117.6 80.5 102.3 123.6 92.1 104.3 101.6 86.5 181.0 160.6 124.1 112.2 135.6 144.6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 135.9 126.6 107.2 136.1 137.7 121.7 159.2 111.7 155.5 127.9 172.6 185.1 126.4 123.8 133.3 143.4 144.9 178.0 143.5 123.0 84.5 107.9 129.3 80.5 103.0 101.9 86.9 159.6 161.3 126.1 113.5 135.1 145.6 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 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 | Packaged beverage materials....................| 125.8 | 126.6 | 126.4 | | Fats and oils..................................| 107.0 | 103.0 | 105.4 | | Apparel........................................| 127.5 | 127.0 | 126.7 | | Other leather and related products.............| 146.2 | 146.8 | 146.8 | | Gas fuels 2/...................................| 172.8 | 210.3 | 194.7 | | Electric power.................................| 129.7 | 132.7 | 134.3 | | Refined petroleum products.....................| 99.6 | 90.7 | 86.7 | | Drugs and pharmaceuticals......................| 258.1 | 260.2 | 261.7 | | Agricultural chemicals and products............| 127.4 | 140.9 | 141.7 | | Other chemicals and allied products............| 138.4 | 139.2 | 139.2 | | Rubber and rubber products.....................| 116.1 | 116.5 | 116.7 | | Rubber, except natural rubber..................| 122.0 | 123.1 | 123.8 | | Miscellaneous rubber products..................| 139.2 | 139.9 | 139.7 | | Plastic products...............................| 136.5 | 134.6 | 136.3 | | Lumber.........................................| 170.4 | 168.4 | 169.2 | | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 162.0 | 159.9 | 159.5 | 09-15 | Converted paper and paperboard products........| 164.5 | 164.2 | 164.2 | 10-1 | Iron and steel.................................| 112.8 | 111.3 | 110.9 | 10-2 | Nonferrous metals..............................| 127.0 | 127.1 | 126.8 | 10-25 | Nonferrous mill shapes.........................| 144.1 | 144.3 | 143.8 | 11-3 | Metalworking machinery and equipment...........| 150.1 | 150.8 | 150.2 | 11-4 | General purpose machinery and equipment........| 151.2 | 152.1 | 152.4 | 11-6 | Special industry machinery.....................| 163.3 | 164.2 | 164.6 | 11-7 | Electrical machinery and equipment.............| 118.6 | 118.1 | 117.9 | 11-9 | Miscellaneous machinery and equipment..........| 134.9 | 135.2 | 135.3 | 12-6 | Other household durable goods..................| 156.5 | 157.5 | 157.5 | 13-2 | Concrete ingredients...........................| 156.3 | 157.9 | 157.9 | 14-1 | Motor vehicles and equipment...................| 133.9 | 131.9 | 132.1 | 15-1 | Toys, sporting goods, small arms, etc..........| 132.4 | 132.7 | 133.5 | 15-4 | Photographic equipment and supplies............| 109.8 | 109.5 | 109.8 | 15-9 | Other miscellaneous products...................| 137.3 | 137.9 | 138.1 | __________________________________________________________|___________|___________|___________| 1/ 2/ Data for November 2000 have been revised to reflect the availability of late reports and corrections by respondents. All data are subject to revision 4 months after original publication. Prices of some items in this grouping are lagged 1 month. Table 4. Producer price indexes for the net output of major industry groups, not seasonally adjusted __________________________________________________________________________________________________________________ | | | Index | Percent change Industry | Industry 1/ |Index|_______________________|to_Mar._2001_from: code | |base | | | | | | | |Nov. |Feb. |Mar. | Mar. | Feb. | | |2000 2/|2001 2/|2001 2/| 2000 | 2001 __________________|______________________________________________|_____|_______|_______|_______|________|_________ | | | |Total mining industries...................... |12/84| 128.9 138.2 130.7 32.2 -5.4 10 | Metal mining................................ |12/84| 73.3 72.4 73.1 -.3 1.0 12 | Coal mining................................. |12/85| 84.1 90.8 90.3 6.5 -.6 13 | Oil and gas extraction...................... |12/85| 147.7 159.4 149.3 39.5 -6.3 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 138.0 140.1 140.8 3.8 .5 | | | |Total manufacturing industries............... |12/84| 134.9 134.7 134.6 1.3 -.1 20 | Food and kindred products................... |12/84| 128.8 130.4 131.7 3.4 1.0 21 | Tobacco manufactures........................ |12/84| 351.6 372.4 372.3 7.2 0 22 | Textile mill products....................... |12/84| 117.0 117.9 117.0 .4 -.8 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 125.7 125.7 125.7 .1 0 24 | Lumber and wood products, except furniture.. |12/84| 154.5 153.8 154.5 -4.7 .5 25 | Furniture and fixtures...................... |12/84| 143.8 144.3 144.8 1.3 .3 26 | Paper and allied products................... |12/84| 147.5 147.0 147.0 2.7 0 27 | Printing, publishing, and allied industries. |12/84| 185.0 187.2 187.6 3.6 .2 28 | Chemicals and allied products............... |12/84| 158.3 161.6 161.9 4.3 .2 29 | Petroleum refining and related products..... |12/84| 121.9 112.0 107.3 -3.3 -4.2 30 | Rubber and miscellaneous plastic products... |12/84| 126.5 126.1 126.8 2.7 .6 31 | Leather and leather products................ |12/84| 138.8 140.6 140.9 2.5 .2 32 | Stone, clay, glass, and concrete products... |12/84| 134.3 135.0 135.4 .5 .3 33 | Primary metal industries.................... |12/84| 119.0 118.0 117.4 -2.2 -.5 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 130.5 130.7 130.8 .4 .1 35 | Machinery, except electrical................ |12/84| 117.7 117.8 117.8 .3 0 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 107.9 107.6 107.5 -1.0 -.1 37 | Transportation equipment.................... |12/84| 138.6 137.6 137.9 1.1 .2 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 126.4 127.1 126.9 .7 -.2 39 | Miscellaneous manufacturing industries...... |12/85| 131.2 131.9 132.3 1.1 .3 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 103.5 103.7 104.0 1.8 0.3 42 | Motor freight transportation and warehousing |06/93| 121.8 122.5 122.6 3.8 .1 43 | United States Postal Service................ |06/89| 135.2 141.3 141.3 4.5 0 44 | Water transportation........................ |12/92| 124.2 127.8 126.8 7.6 -.8 45 | Transportation by air....................... |12/92| 152.7 154.0 155.4 7.7 .9 46 | Pipe lines, except natural gas.............. |12/86| 102.7 109.1 108.9 6.9 -.2 54 | Food stores................................. |12/99| 104.1 107.7 107.2 1.4 -.5 59 | Miscellaneous retail........................ |06/00| 96.6 99.1 101.7 (3) 2.6 80 | Health services............................. |12/94| 114.1 115.0 115.3 3.0 .3 81 | Legal services.............................. |12/96| 114.0 116.0 116.1 4.1 .1 __________________________________________________________________________________________________________________ 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 November 2000 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. 3/ Not available. Table 5. Producer price indexes by stage of processing, seasonally adjusted (1982=100) _____________________________________________________________________________________________________________ | | Index 1/ |_____________________________________________________ Grouping | | | | | | | Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | 2000 | 2000 | 2000 | 2001 | 2001 | 2001 _______________________________________________________|________|________|________|________|________|________ | Finished goods...................................| 139.6 139.8 140.0 141.6 141.8 141.7 Finished consumer goods........................| 140.2 140.4 140.6 142.6 143.1 142.9 Finished consumer foods......................| 138.0 138.3 137.8 138.9 139.8 141.3 Crude......................................| 132.8 134.3 121.7 130.6 135.6 137.3 Processed..................................| 138.4 138.6 139.1 139.5 140.1 141.5 Finished consumer goods, excluding foods.....| 140.9 141.1 141.5 144.0 144.3 143.3 Nondurable goods less foods................| 142.0 142.3 142.9 146.2 147.0 145.6 Durable goods..............................| 134.1 134.3 134.4 134.7 133.7 133.9 Capital equipment..............................| 139.3 139.4 139.5 139.9 139.5 139.5 Manufacturing industries.....................| 139.7 139.8 139.9 140.2 140.1 140.1 Nonmanufacturing industries..................| 139.0 139.2 139.3 139.8 139.1 139.3 | Intermediate materials, supplies, and components.| 130.6 130.4 130.9 131.8 131.7 131.4 Materials and components for manufacturing.....| 128.5 128.1 128.2 128.7 128.8 128.9 Materials for food manufacturing.............| 119.1 119.1 119.9 120.9 120.6 122.7 Materials for nondurable manufacturing.......| 133.8 133.4 133.6 135.1 136.1 135.7 Materials for durable manufacturing..........| 128.8 127.6 128.1 127.2 127.0 126.7 Components for manufacturing.................| 126.4 126.5 126.2 126.3 126.1 126.3 Materials and components for construction......| 150.3 150.2 150.1 149.7 150.1 150.2 Processed fuels and lubricants.................| 107.9 107.6 109.5 113.0 111.8 110.1 Manufacturing industries ....................| 106.5 105.7 108.8 112.2 110.7 109.2 Nonmanufacturing industries..................| 108.2 108.3 109.5 113.1 112.0 110.3 Containers.....................................| 153.4 153.0 153.0 153.0 153.1 153.0 Supplies.......................................| 137.7 138.0 138.1 138.9 138.5 138.7 Manufacturing industries.....................| 144.5 145.1 144.6 145.0 145.1 145.8 Nonmanufacturing industries..................| 134.8 135.0 135.3 136.1 135.7 135.7 Feeds......................................| 94.4 95.2 99.3 102.9 98.2 95.8 Other supplies.............................| 139.7 139.8 139.7 140.2 140.2 140.6 | Crude materials for further processing...........| 130.8 129.1 137.0 156.1 133.9 131.6 Foodstuffs and feedstuffs......................| 100.7 101.9 105.5 107.8 106.1 109.3 Nonfood materials..............................| 146.8 143.1 153.8 183.7 148.2 142.1 Nonfood materials except fuel 2/.............| 121.6 124.1 116.5 110.7 110.7 106.2 Manufacturing 2/...........................| 112.2 114.6 107.4 101.9 102.0 97.7 Construction...............................| 184.6 183.6 182.9 183.5 179.5 180.8 Crude fuel 3/................................| 169.7 157.8 192.6 269.0 187.7 180.0 Manufacturing industries...................| 170.9 158.6 193.7 273.3 186.5 178.5 Nonmanufacturing industries................| 172.6 160.5 195.9 273.3 191.1 183.3 | Special groupings | | Finished goods, excluding foods..................| 139.9 140.2 140.5 142.3 142.3 141.7 Intermediate materials less foods and feeds......| 131.7 131.5 131.8 132.8 132.7 132.4 Intermediate foods and feeds.....................| 111.6 111.8 113.6 115.5 113.8 114.4 Crude materials less agricultural products 2/....| 148.7 144.9 155.7 187.0 150.1 144.3 | Finished energy goods............................| 98.6 99.1 100.3 104.1 105.6 102.9 Finished goods less energy.......................| 145.6 145.8 145.6 146.6 146.5 147.1 Finished consumer goods less energy..............| 148.3 148.5 148.2 149.4 149.4 150.2 | Finished goods less foods and energy.............| 148.7 148.8 148.7 149.7 149.2 149.4 Finished consumer goods less foods and energy....| 154.9 155.0 154.9 156.2 155.6 156.0 Consumer nondurable goods less foods and energy..| 171.4 171.2 171.0 173.1 173.1 173.5 | Intermediate energy goods........................| 107.5 107.3 109.1 112.5 111.3 109.7 Intermediate materials less energy...............| 135.5 135.3 135.4 135.8 135.8 136.0 Intermediate materials less foods and energy.....| 137.0 136.9 136.8 137.1 137.3 137.4 | Crude energy materials 2/........................| 144.8 140.9 154.7 193.4 148.3 141.0 Crude materials less energy......................| 111.0 111.2 113.8 115.7 113.5 115.4 Crude nonfood materials less energy 3/...........| 141.4 138.5 138.7 139.4 135.9 134.2 _____________________________________________________________________________________________________________ 1/ 2/ 3/ All seasonally adjusted indexes are subject to change up to 5 years after original publication due to the recalculation of seasonal factors each January. The indexes for November 2000 have been recalculated to incorporate late reports and corrections by respondents. Includes crude petroleum. 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.
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