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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 01-347 TRANSMISSION OF MATERIAL IN THIS RELEASE IS EMBARGOED UNTIL 8:30 A.M. (E.D.T.), FRIDAY, October 12, 2001 Producer Price Indexes -- September 2001 The Producer Price Index for Finished Goods increased 0.4 percent in September, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This advance followed a 0.4percent rise in August and a 0.9-percent decline in July. The index for finished goods other than foods and energy turned up 0.3 percent in September, compared with a 0.1-percent decrease in the preceding month. At the earlier stages of processing, prices received by intermediate goods producers increased 0.1 percent, following a 0.4-percent drop in August. The crude goods index fell 4.1 percent in September, after posting a 2.3percent decrease a month earlier. (See table A.) The reference date for the Producer Price Index is the Tuesday of the week containing the 13th day of the month. September's reference date was Tuesday, September 11; price changes that occurred subsequent to the reference date are not reflected in these data. Survey respondents provided data to the Bureau at approximately the same rate in September as they did in prior months. 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 Sept. 0.7 0.2 3.4 0.3 3.5 0.8 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. 1.1 .9 4.4 .5 4.8 .8 17.5 Feb. .1 .8 .4 -.3 4.0 -.2 -14.5 Mar. -.1 .9 -2.4 .1 3.0 -.3 -6.7 Apr. .5 .6 1.1 .3 3.7 -.1 .5 May r.1 r-.2 r.4 r.2 r3.9 r.1 r-2.2 June r-.5 r-.2 r-3.0 r0 2.5 r-.2 r-6.3 July -.9 -.6 -5.8 .2 1.5 -1.0 -5.3 Aug. .4 .9 1.1 -.1 2.1 -.4 -2.3 Sept. .4 .2 .9 .3 1.6 .1 -4.1 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for May 2001 have been revised to reflect the availability of late reports and corrections by respondents. Among finished goods in September, the index for finished consumer goods other than foods and energy rose 0.4 percent, following a 0.1-percent decline a month ago. Capital equipment prices edged up 0.1-percent in September, after decreasing 0.1 percent in the prior month. By contrast, the finished consumer foods index gained 0.2 percent, compared with a 0.9percent increase in the previous month. Prices for finished energy goods advanced 0.9 percent in September, after rising 1.1 percent in August. During the third quarter of 2001, the finished goods price index declined at a 0.8-percent seasonally adjusted annual rate (SAAR), after rising at a 0.3-percent rate during the second quarter of 2001. Leading this downturn, prices for finished energy goods fell at a 14.6-percent SAAR from June 2001 to September 2001, following a 6.1-percent rate of decrease from March 2001 to June 2001. On a SAAR basis, prices for finished goods other than foods and energy rose less during the third quarter than in the second quarter of 2001 -- 1.6-percent and 1.9-percent, respectively. Conversely, prices for finished consumer foods rose at a 2.0-percent SAAR from June to September, following a 0.9-percent rate of advance from March to June. The intermediate goods price index declined at a 5.1-percent SAAR during the third calendar quarter of 2001, after edging down at a 0.6percent rate over the preceding calendar quarter. Third quarter crude goods prices fell at a 38.2 percent SAAR, compared with a 27.9-percent rate of decline from March to June. (See summary below.) Summary of December-to-December, 9-month, and 3-month seasonally adjusted annual rates for selected stages of processing Grouping Finished goods Finished consumer foods Finished energy goods Finished goods less foods and energy Finished consumer goods, excluding foods and energy Capital equipment Percentage change 12 months ended in December Seasonally adjusted annual rate for: 9 3 3 3 months months months months ended ended ended ended in in in in Sept. Mar. June Sept. 2001 2001 2001 2001 1998 1999 2000 0.0 .1 -11.7 2.9 .8 18.1 3.6 1.7 16.6 1.3 4.4 -4.2 4.7 10.5 9.5 0.3 .9 -6.1 -0.8 2.0 -14.6 2.5 .9 1.3 1.6 1.3 1.9 1.6 4.2 0 1.2 .3 1.4 1.2 2.2 .8 2.3 0 2.3 1.2 1.8 1.1 3.7 -4.2 19.6 4.1 3.6 19.0 -1.5 5.4 -5.8 1.2 2.5 -.4 -.6 5.7 -2.2 -5.1 8.2 -14.3 1.9 1.6 -1.1 1.5 -.9 -3.7 4.0 4.1 -3.5 7.1 -7.2 -9.5 2.4 .2 -3.4 -3.4 -.3 -6.5 2.2 .1 .6 .5 3.5 -2.1 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 35.5 -29.9 -22.7 -27.9 -38.2 Foodstuffs and feedstuffs -11.0 -.1 7.4 3.9 15.6 -7.1 4.5 Crude energy materials -23.8 36.9 85.6 -52.6 -42.4 -43.7 -67.3 Crude nonfood materials less energy -16.0 14.0 -5.5 -10.2 -10.8 -13.7 -6.0 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 increased 0.4 percent, to stand at 141.7 (1982 = 100). From September 2000 to September 2001, prices for finished goods advanced 1.6 percent. During the same period, the index for finished consumer foods rose 4.0 percent and prices for finished goods other than foods and energy gained 1.4 percent. On the other hand, the finished energy goods index declined 0.5 percent for the 12 months ended September 2001. Prices for both intermediate goods and crude goods fell during the past 12 months -down 0.8 percent and 14.3 percent, respectively. Finished goods Prices for finished consumer goods other than foods and energy increased 0.4 percent in September, compared to a 0.1-percent decline in August. The index for sanitary papers and health products advanced 3.0 percent, following a 0.9-percent decrease in the previous month. Prices for pharmaceutical preparations, light motor trucks, and for sporting and athletic goods also turned up in September. The indexes for passenger cars and alcoholic beverages rose more than they did in the preceding month. By contrast, women's apparel prices fell 0.2 percent, after posting a 0.7percent gain in August. Price increases slowed from August to September for periodical circulation and book publishing. The men's and boys' apparel index declined more quickly than they did in the prior month. During the third quarter of 2001, the index for finished consumer goods other than foods and energy increased at a 1.8-percent SAAR, after advancing at a 2.3-percent rate for the second quarter of 2001. 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 Sept. 0.6 4.3 0.0 4.6 3.8 11.7 0.8 17.4 Oct. .6 1.1 0 4.6 3.1 5.9 -.8 25.3 Nov. .2 -.2 -.1 4.2 1.2 -2.7 -2.1 17.6 Dec. 1.8 1.4 0 4.1 3.6 15.8 .4 35.5 2001 Jan. 1.4 4.1 .1 4.6 1.6 31.7 0 55.7 Feb. -1.1 -1.7 .1 3.5 -1.3 -23.0 -1.8 28.0 Mar. .4 -2.4 .1 2.3 3.4 -14.0 -1.0 17.1 Apr. -.1 -.1 -.1 2.1 -.5 2.1 -2.4 19.6 May r.4 r.6 r0 2.3 -1.3 r-3.2 r-.6 r13.3 June r1.0 r-1.0 r-.1 1.2 -.1 r-12.4 r-.7 -2.2 July .6 -3.8 -.4 0 .6 -11.5 -.9 -5.4 Aug. 1.8 -1.0 -.4 -.1 -.6 -4.4 -.8 -4.1 Sept. -.4 1.0 -.1 -.8 1.1 -10.7 .2 -14.3 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for May 2001 have been revised to reflect the availability of late reports and corrections by respondents. Prices increases for finished energy goods slowed to 0.9 percent in September, following a 1.1-percent gain in August. The gasoline index rose at a less-rapid pace in September than it did in August -- up 6.3 percent, after advancing 8.7 percent. Prices for liquefied petroleum gas also increased less than they did a month earlier. The September index for residential electric power decreased slightly more in September than it did in August. On the other hand, prices for diesel fuel turned up 6.7 percent, following a 7.2-percent decline in the previous month. The home heating oil index rose more in September than it did a month earlier, while prices for residential natural gas fell less than they did in the previous month. The index for finished consumer foods edged up 0.2 percent in September, after registering a 0.9-percent gain in August. Contributing to this slower rate of advance, prices for fresh and dry vegetables rose 2.4 percent, following a 15.9-percent increase in the prior month. The indexes for soft drinks, melons, shortening and cooking oils, and processed turkeys turned down in September. Prices for processed young chickens and confectionery end products advanced less than they did in the preceding month. The September indexes for beef and veal and for pork fell more than they did a month earlier. By contrast, prices for finfish and shellfish rose 3.4 percent, after declining 0.2 percent in August. The indexes for eggs for fresh use and for milled rice also turned up in September. Dairy product prices decreased less in September than they did in the previous month. The capital equipment index edged up 0.1 percent in September, following a 0.1-percent decline in August. Prices for communication and related equipment increased 0.2 percent, after falling 1.1 percent in the prior month. The index for light motor trucks also turned up in September. Passenger car prices rose more than they did in August, while the electronic computers index decreased less than it did a month earlier. Heavy motor truck prices advanced, after showing no change in the preceding month. On the other hand, the civilian aircraft index declined 0.3 percent in September, following a 0.5-percent gain in August. Prices for x-ray and electromedical equipment and for agricultural machinery and equipment also turned down in September. The indexes for pumps and compressors and for welding machines and related equipment increased less than they did in the previous month. From June 2001 to September 2001, capital equipment prices rose at a 1.1-percent SAAR, after a 1.2-percent annual rate of advance from March 2001 to June 2001. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components rose 0.1 percent in September, after declining 0.4 percent in August. Prices for intermediate energy goods turned up in September, following a decrease a month ago. The indexes for nondurable manufacturing materials and durable manufacturing materials declined at a slower rate than they did in the previous month. On the other hand, prices for intermediate foods and feeds turned down, compared with an increase in the prior month, while the construction materials index fell slightly, after showing no change in August. Prices for intermediate materials other than foods and energy decreased 0.1 percent, after posting a 0.4-percent decline in August. (See table B.) The intermediate energy goods index increased 1.0 percent in September, following a 1.0-percent decrease in August. Prices for diesel fuel rose 6.7 percent, after dropping 7.2 percent a month ago. The indexes for residual fuel and commercial electric power turned up in September, after falling in August. Prices for industrial natural gas, jet fuels, and commercial natural gas decreased at a slower rate than they did in the prior month. By contrast, the gasoline index rose 6.3 percent in September, following an 8.7-percent gain in August. Prices for liquefied petroleum gas also increased at a slower rate than they did a month ago. The index for coke oven products decreased, after showing no change in the previous month. Prices for intermediate energy materials declined at a 14.3-percent SAAR during the third quarter of 2001, following a 2.2-percent rate of decrease in the previous quarter. The nondurable manufacturing materials index fell 0.1 percent in September, after dropping 1.3 percent in August. Falling prices for plastic resins and materials, nitrogenates, paperboard, and inedible fats and oils slightly outweighed rising prices for industrial chemicals, phosphates, synthetic fibers, and paint materials. Nondurable manufacturing material prices fell at a 9.5-percent SAAR from June 2001 to September 2001, following a 7.2-percent rate of decrease during the second quarter of 2001. The index for durable manufacturing materials declined 0.2 percent in September, following a 0.6-percent fall in August. In September, price decreases for aluminum mill shapes, plywood, building paper and board, hardwood lumber, and prepared paint outweighed price increases for primary aluminum (except extrusion billet); copper and brass mill shapes; hot rolled bars, plates, and structural shapes; semi-finished steel mill products, and cement. The durable manufacturing materials index decreased at a 6.5-percent SAAR during the third quarter of 2001, after declining at a 0.3-percent rate during the second quarter. Prices for intermediate foods and feeds decreased 0.4 percent in September, after posting a 1.8-percent gain in August. The prepared animal feeds index fell 0.7 percent in September, following a 2.4-percent rise a month ago. Prices for crude vegetable oils and confectionery materials also turned down, after increasing in the previous month. The index for fluid milk products declined, after showing no change in August. Beef and veal prices fell more than they did in the prior month. The natural, processed, and imitation cheese index rose less than it did in August. By contrast, prices for flour increased 0.6 percent in September, following a 1.3-percent drop a month ago. The index for dry, condensed, and evaporated milk products turned up in September. Prices for refined sugar and butter rose at a faster pace than they did in the previous month. The intermediate foods and feed index increased at an 8.2-percent SAAR from June 2001 to September 2001, after rising at a 5.7-percent rate in the previous quarter. The index for construction materials fell 0.1 percent in September, after showing no change in August. In September, price decreases for plastic construction products, plywood, nonferrous wire and cable, fabricated structural metal products, hardwood lumber, and softwood lumber outweighed price increases for gypsum products, asphalt felts and coatings, millwork, switchgear, and steel wire. The index for materials and components for construction declined at a 2.1-percent SAAR during the third quarter of 2001, following a 3.5-percent rate of increase during the second quarter. Crude goods The Producer Price Index for Crude Materials for Further Processing declined 4.1 percent in September, following a 2.3-percent decline in the previous month. The crude energy materials index dropped at a faster rate in September than it did in August. By contrast, the indexes for crude nonfood materials less energy and for crude foodstuffs and feedstuffs increased in September, after decreasing in August. (See table B.) The crude energy materials index declined 10.7 percent in September, subsequent to a 4.4-percent fall in the preceding month. The sole contributor to this deceleration was the index for natural gas, which dropped 22.8 percent, following a 7.7-percent decline in August. On the other hand, the indexes for crude petroleum and coal turned up slightly in September, after declining in the prior month. From June 2001 to September 2001, prices for crude energy materials decreased at a 67.3-percent SAAR, following a 43.7-percent rate of decline in the second quarter. Exhibiting an upturn after seven months of declining prices, the index for crude nonfood materials less energy rose 0.2 percent in September, following a 0.8 percent decline last month. The 4.7-percent increase in the hides and skins index, which comes after an 18.9-percent drop in August, explains a considerable portion of the reversal in basic industrial materials prices. Also adding to the overall acceleration, the index for nonferrous metal ores increased in September, following a decline in the previous month, while the index for aluminum base scrap fell less rapidly than it did in August. Partly offsetting this acceleration, iron and steel scrap prices dropped 0.6 percent in September following a 1.2-percent increase in the preceding month. Other offsetters included the indexes for construction sand, gravel, and crushed stone and hardwood logs, bolts, and timber. Prices for crude nonfood materials less energy decreased at a 6.0percent SAAR in the third quarter of 2001, following a 13.7-percent rate of decline in the second quarter of 2001. Following a 0.6-percent decline in August, the index for crude foodstuffs and feedstuffs increased 1.1 percent in September. The slaughter cattle index rose 0.5 percent in September, after falling 2.8 percent the prior month. The indexes for slaughter broilers and fryers and unprocessed shellfish also rose, following declines in the August. Prices for slaughter hogs fell less than in the previous month. By contrast, corn prices rose 0.1 percent in September, preceded by an 8.5-percent increase in August. The indexes for fresh and dry vegetables also increased at a slower pace than in the prior month. Prices for soybeans turned down in September. Following a 7.1-percent SAAR of decline during the second quarter of 2001, the index for crude foodstuffs and feedstuffs rose at a 4.5-percent rate during the third quarter. Net Output for mining, manufacturing, and services industries Mining. The Producer Price Index for the Net Output of Total Mining Industries fell 7.8 percent in September, following a 2.9-percent decrease in August. (Net Output prices are not seasonally adjusted.) Most of September's faster rate of decline can be traced to an 11.5-percent drop in prices received by the crude petroleum, natural gas, and natural gas liquids industry, compared with a 3.7-percent fall a month ago. The index for the crushed and broken limestone industry turned down, after rising in the prior month. Prices received by the oil and gas exploration services industry rose less than they did in August. The index for the potash, soda, and borate minerals fell, after rising in August. By contrast, prices received by the bituminous coal and lignite industry increased 2.9 percent in September, following a 1.2-percent decline in August. The indexes for the oil and gas well drilling, metal mining services, and the kaolin and ball clay industries turned up in September, after falling a month earlier. Prices received by the coal mining services industry increased at a faster rate than they did in the prior month. For the three months ended September 2001, the index for the net output of total domestic mining industries decreased at a 58.7-percent annual rate, following a 39.9percent annual rate of decline during the second quarter of this year. In September, this index stood at 92.6 (December 1984=100), 25.7 percent below its year-ago level. The Producer Price Index for the Net Output of Total Manufacturing Industries rose 0.6 percent in September, following a 0.1-percent increase in August. Leading this acceleration, prices received by the petroleum refining and related products industry group jumped 8.1 percent, after increasing 2.9 percent in the previous month. The industry group indexes for chemicals and allied products and for paper and allied products turned up, after falling a month ago. Prices received by the electrical and electronic machinery industry group and the transportation equipment industry group were unchanged, after declining in the prior month. On the other hand, the industry group index for food and kindred products showed no change in September, following a 0.6-percent increase in August. Prices received by the industry groups for printing, publishing, and allied industries, and for apparel and other related products turned down, after showing gains a month ago. The industry group index for machinery (except electrical) declined at a faster rate than it did in the previous month. Prices received by the industry group for measuring and controlling instruments rose less than they did in August. After decreasing at a 4.5percent annual rate from March 2001 to June 2001, the index for the net output of total domestic manufacturing industries declined at a 1.2-percent rate from June 2001 to September 2001. In September, the Producer Price Index for the Net Output of Total Manufacturing Industries stood at 135.6, 0.7 percent above its year-ago level. Services. Among services industries in September, advancing prices were registered by the industries for deep sea foreign transportation of freight, property and casualty insurance, skilled and intermediate care facilities, telephone communications (except radiotelephone), general medical and surgical hospitals, and medical laboratories. On the other hand, the industries for operators and lessors of nonresidential buildings; real estate agents and managers; hotels and motels; travel agencies; airports, flying fields, and airport services; and courier services (except by air) experienced falling prices. ***** Producer Price Index data for October 2001 will be released on Friday, November 9, 2001 at 8:30 a.m. (E.S.T.) 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| |Sept.2001 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | | May |Aug. |Sept. | Sept.| Aug. |June to|July to |Aug. to | 2000 1/|2001 2/|2001 2/|2001 2/| 2000 | 2001 | July | Aug. | Sept. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 142.7 141.1 141.7 1.6 0.4 -0.9 0.4 0.4 Finished consumer goods........................| 76.120 144.2 142.0 142.9 2.0 .6 -1.3 .5 .4 Finished consumer foods......................| 22.507 142.3 142.6 142.9 4.0 .2 -.6 .9 .2 Crude......................................| 1.549 130.4 119.7 126.1 .6 5.3 -7.9 6.5 3.3 Processed..................................| 20.958 143.2 144.5 144.2 4.3 -.2 0 .5 0 Finished consumer goods, excluding foods.....| 53.624 144.8 141.6 142.7 1.1 .8 -1.7 .3 .6 Nondurable goods less foods................| 38.191 147.6 143.5 145.1 1.5 1.1 -2.4 .4 .6 Durable goods..............................| 15.434 133.8 133.0 133.2 .5 .2 .2 .1 .5 Capital equipment..............................| 23.868 139.5 139.5 139.4 .6 -.1 .2 -.1 .1 Manufacturing industries.....................| 6.278 140.4 140.6 140.4 .6 -.1 .1 .1 -.1 Nonmanufacturing industries..................| 17.590 139.2 139.0 139.0 .7 0 .3 -.1 .2 | Intermediate materials, supplies, and components.| 100.000 131.3 129.8 130.1 -.8 .2 -1.0 -.4 .1 Materials and components for manufacturing.....| 45.385 128.6 126.9 126.6 -1.5 -.2 -.5 -.5 -.2 Materials for food manufacturing.............| 3.224 125.0 128.1 127.5 7.1 -.5 .2 1.4 -.2 Materials for nondurable manufacturing.......| 15.685 134.1 130.1 129.9 -2.8 -.2 -1.1 -1.3 -.1 Materials for durable manufacturing..........| 9.861 126.6 124.6 124.2 -3.9 -.3 -.9 -.6 -.2 Components for manufacturing.................| 16.616 126.6 126.2 125.9 -.4 -.2 -.1 -.1 -.2 Materials and components for construction......| 13.216 151.6 151.0 150.8 .3 -.1 -.5 0 -.1 Processed fuels and lubricants.................| 15.634 109.1 106.0 108.4 -1.9 2.3 -3.9 -1.0 1.0 Manufacturing industries ....................| 5.555 107.8 107.0 108.4 1.2 1.3 -.6 -1.5 .6 Nonmanufacturing industries..................| 10.080 109.5 105.1 108.0 -3.5 2.8 -5.7 -.7 1.3 Containers.....................................| 3.966 153.8 153.2 153.0 -.2 -.1 -.3 -.3 -.1 Supplies.......................................| 21.799 138.6 138.7 138.6 .9 -.1 0 -.1 -.1 Manufacturing industries.....................| 5.024 145.9 145.2 145.0 .4 -.1 -.1 -.3 -.1 Nonmanufacturing industries..................| 16.775 135.6 135.9 135.8 1.0 -.1 -.1 .1 -.1 Feeds......................................| 1.229 93.1 99.8 98.8 5.8 -1.0 1.9 3.1 -1.0 Other supplies.............................| 15.546 140.7 140.3 140.3 .6 0 -.1 -.2 .1 | Crude materials for further processing...........| 100.000 131.3 113.4 108.0 -14.3 -4.8 -5.3 -2.3 -4.1 Foodstuffs and feedstuffs......................| 30.898 110.3 108.9 108.5 11.2 -.4 .6 -.6 1.1 Nonfood materials..............................| 69.102 141.1 112.4 103.8 -26.4 -7.7 -8.7 -3.4 -7.6 Nonfood materials except fuel 3/.............| 28.621 107.5 103.6 103.7 -17.0 .1 -2.9 -.8 .2 Manufacturing 3/...........................| 27.686 98.8 95.1 95.2 -17.5 .1 -2.9 -.7 .1 Construction...............................| 0.935 183.0 182.5 182.6 -1.5 .1 -.8 -.5 .1 Crude fuel 4/................................| 40.481 175.9 115.5 95.8 -36.8 -17.1 -14.7 -6.5 -17.1 Manufacturing industries...................| 3.470 173.7 113.7 93.9 -38.4 -17.4 -15.7 -6.2 -17.4 Nonmanufacturing industries................| 37.011 179.2 117.7 97.6 -36.8 -17.1 -14.5 -6.6 -17.1 | Special groupings | | Finished goods, excluding foods..................|5/ 77.493 142.7 140.5 141.3 1.0 .6 -1.1 .2 .4 Intermediate materials less foods and feeds......|6/ 95.547 132.2 130.4 130.7 -1.1 .2 -1.1 -.5 .1 Intermediate foods and feeds.....................|6/ 4.453 115.2 119.4 118.7 6.8 -.6 .6 1.8 -.4 Crude materials less agricultural products 3/ 7/.|8/ 67.222 143.8 113.7 104.8 -26.6 -7.8 -8.9 -3.8 -7.8 | Finished energy goods............................|5/ 15.512 104.6 97.8 100.1 -.5 2.4 -5.8 1.1 .9 Finished goods less energy.......................|5/ 84.488 147.8 147.7 147.9 2.1 .1 0 .2 .3 Finished consumer goods less energy..............|5/ 60.620 151.3 151.1 151.4 2.6 .2 -.1 .3 .3 | Finished goods less foods and energy.............|5/ 61.981 150.0 149.7 149.8 1.4 .1 .2 -.1 .3 Finished consumer goods less foods and energy....|5/ 38.113 157.1 156.6 156.8 1.8 .1 .1 -.1 .4 Consumer nondurable goods less foods and energy..|5/ 22.679 175.5 175.3 175.6 2.8 .2 0 -.1 .2 | Intermediate energy goods........................|6/ 15.755 108.6 105.6 107.9 -2.0 2.2 -3.8 -1.0 1.0 Intermediate materials less energy...............|6/ 84.245 136.0 134.9 134.7 -.5 -.1 -.4 -.3 -.1 Intermediate materials less foods and energy.....|6/ 79.792 137.4 136.0 135.8 -.9 -.1 -.4 -.4 -.1 | Crude energy materials 3/........................|8/ 54.136 140.5 104.2 93.1 -31.9 -10.7 -11.5 -4.4 -10.7 Crude materials less energy......................|8/ 45.864 115.5 113.6 113.3 3.8 -.3 .2 -.7 .9 Crude nonfood materials less energy 4/...........|8/ 14.966 131.6 128.4 128.5 -10.1 .1 -.9 -.8 .2 | _______________________________________________________________________________________________________________________________ 1/ Comprehensive relative importance figures are initially computed 3/ Includes crude petroleum. 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 May 2001 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. 4/ 5/ 6/ 7/ 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 | | |Sept.2001 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | | May |Aug. |Sept. | Sept. | Aug. |June to|July to|Aug. to | |2001 1/|2001 1/|2001 1/| 2000 | 2001 | July | Aug. | Sept. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 142.7 141.1 141.7 1.6 0.4 -0.9 0.4 0.4 | FINISHED CONSUMER GOODS...............................| 144.2 142.0 142.9 2.0 .6 -1.3 .5 .4 | FINISHED CONSUMER FOODS..............................| 142.3 142.6 142.9 4.0 .2 -.6 .9 .2 | | 01-11 | Fresh fruits and melons 2/..........................| 101.7 86.2 94.9 2.8 10.1 -13.6 1.5 10.1 01-13 | Fresh and dry vegetables 2/.........................| 129.9 122.2 125.1 -9.3 2.4 -12.5 15.9 2.4 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 72.1 75.9 71.7 -7.7 -5.5 .5 -5.5 .4 02-11 | Bakery products 2/..................................| 188.1 188.7 188.7 3.0 0 .3 0 0 02-13 | Milled rice 2/......................................| 86.3 83.7 87.3 -13.7 4.3 -.8 -2.1 4.3 02-14-02 | Pasta products (June 1985=100) 2/...................| 122.2 122.2 122.2 .6 0 -.1 0 0 02-21-01 | Beef and veal.......................................| 125.1 119.4 117.6 6.9 -1.5 -2.8 -.5 -1.1 02-21-04 | Pork................................................| 126.3 131.6 125.7 14.2 -4.5 5.4 -.1 -.3 02-22-03 | Processed young chickens............................| 117.8 121.4 125.0 7.7 3.0 -3.1 2.4 .7 02-22-06 | Processed turkeys...................................| 97.9 96.9 100.3 -1.9 3.5 -4.2 .3 -.2 02-23 | Finfish and shellfish...............................| 192.7 185.1 191.9 .8 3.7 1.5 -.2 3.4 02-3 | Dairy products......................................| 146.9 152.0 153.5 13.2 1.0 -.1 -1.2 -.7 02-4 | Processed fruits and vegetables 2/..................| 129.1 129.2 129.7 1.2 .4 .5 .3 .4 02-55 | Confectionery end products 2/.......................| 170.6 171.0 171.2 .4 .1 .1 .2 .1 02-62 | Soft drinks.........................................| 147.7 149.7 149.3 3.5 -.3 -.4 1.8 -.1 02-63-01 | Roasted coffee 2/...................................| 123.8 123.7 123.7 -5.1 0 .1 -.1 0 02-78 | Shortening and cooking oils 2/......................| 130.6 143.3 136.7 3.7 -4.6 1.1 8.2 -4.6 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 144.8 141.6 142.7 1.1 .8 -1.7 .3 .6 | | 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......................................| 06-38 | Pharmaceutical preparations (June 2001=100) 2/......| 06-71 | Soaps and synthetic detergents 2/...................| 06-75 | Cosmetics and other toilet preparations 2/..........| 07-12 | Tires, tubes, tread, etc 2/.........................| 09-15-01 | Sanitary papers and health products 2/..............| 09-31-01 | Newspaper circulation 2/............................| 09-32-01 | Periodical circulation..............................| 09-33 | Book publishing.....................................| 12-1 | Household furniture 2/..............................| 12-3 | Floor coverings 2/..................................| 12-4 | Household appliances ...............................| 12-5 | Home electronic equipment 2/........................| 12-62 | Household glassware.................................| 12-64 | Household flatware 2/...............................| 12-66 | Lawn and garden equip., ex. tractors 2/.............| 14-11-01 | Passenger cars......................................| 15-11 | Toys, games, and children's vehicles 2/.............| 15-12 | Sporting and athletic goods 2/......................| 15-2 | Tobacco products 2/.................................| 15-5 | Mobile homes 2/.....................................| 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 15-94-04 | Costume jewelry and novelties 2/....................| | | | CAPITAL EQUIPMENT.....................................| | | 11-1 | Agricultural machinery and equipment 2/.............| 11-2 | Construction machinery and equipment................| 11-37 | Metal cutting machine tools 2/......................| 11-38 | Metal forming machine tools 2/......................| 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 11-41 | Pumps, compressors, and equipment...................| 11-44 | Industrial material handling equipment 2/...........| 11-51 | Electronic computers (Dec. 1998=100) 2/.............| 11-62 | Textile machinery 2/................................| 11-64 | Paper industries machinery (June 1982=100)..........| 145.2 123.5 132.7 116.3 122.5 146.0 115.0 171.7 114.0 96.0 (3) 130.5 138.7 93.4 146.6 218.9 200.5 226.5 155.1 130.3 105.4 70.7 170.2 143.2 132.6 132.2 123.0 126.6 447.3 163.0 128.5 143.8 145.6 123.2 132.5 116.6 122.6 146.6 121.1 147.1 94.1 84.7 99.2 130.6 138.3 94.5 144.0 219.0 202.6 224.8 154.9 128.5 104.6 69.7 169.7 143.2 132.2 129.8 123.4 124.7 447.4 164.8 129.2 143.8 145.3 123.0 131.9 117.0 122.4 145.6 121.0 140.3 103.7 94.5 99.6 131.0 138.2 94.3 148.3 219.8 202.8 226.8 155.1 128.1 104.6 70.0 169.7 143.2 133.2 130.6 123.4 125.9 447.6 164.9 129.5 143.8 2.3 -1.4 -1.0 .2 .5 .3 4.7 -2.5 -.5 -14.7 (3) 1.3 -.1 1.5 .3 5.0 2.2 4.2 1.3 -1.0 -1.6 -1.7 2.4 -1.1 .6 1.3 1.1 0 11.1 1.8 1.8 1.1 -.2 -.2 -.5 .3 -.2 -.7 -.1 -4.6 10.2 11.6 .4 .3 -.1 -.2 3.0 .4 .1 .9 .1 -.3 0 .4 0 0 .8 .6 0 1.0 0 .1 .2 0 -.1 .2 -.1 .1 .1 -.1 2.2 -4.0 -17.7 -9.1 .1 0 -.5 1.3 -.8 0 -.5 .9 0 .2 -1.0 -.1 -.2 0 -.2 -.3 0 -.1 -.1 .5 .6 0 .1 .7 -.1 0 .2 0 -.3 -5.7 8.7 .8 -.9 .1 .1 -.1 -.9 0 1.5 .8 .1 -1.0 .4 0 -.1 0 .1 .7 .3 -1.0 0 0 -.1 -.2 .3 -.2 -.5 .3 -.2 -.7 -.4 -5.0 6.3 4.5 .4 .3 -.1 -.2 3.0 .4 .2 .3 .1 -.3 .2 .4 0 0 .8 1.3 0 1.0 0 .1 .2 0 139.5 139.5 139.4 .6 -.1 .2 -.1 .1 156.1 149.1 163.7 164.6 140.6 156.8 136.9 60.6 157.7 166.2 155.5 149.2 154.5 165.4 141.5 158.4 137.4 53.4 158.1 169.0 155.2 149.2 154.4 165.4 141.2 158.7 137.7 50.1 158.1 168.8 .8 .2 -4.8 1.5 .2 2.5 1.8 -29.0 1.0 2.4 -.2 0 -.1 0 -.2 .2 .2 -6.2 0 -.1 -.1 .1 -6.3 .3 -.1 .1 -.3 -.3 .3 .1 .4 .1 .8 0 -.2 1.2 .2 -9.3 -.1 1.3 -.2 .1 -.1 0 -.2 .4 .2 -6.2 0 -.1 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 | Printing trades machinery 2/........................| 143.7 143.9 143.1 .2 -.6 0 0 -.6 | Transformers and power regulators 2/................| 134.5 133.9 134.0 -1.4 .1 0 -.3 .1 | Communication & related equip. (Dec. 1985=100) 2/...| 109.6 108.8 109.0 -1.4 .2 -.3 -1.1 .2 | X-ray and electromedical equipment 2/...............| 100.2 101.2 100.7 -.3 -.5 -.5 2.2 -.5 | Oil field and gas field machinery ..................| 133.8 134.9 135.9 6.1 .7 .2 .2 .7 | Mining machinery and equipment 2/...................| 148.6 148.9 148.9 1.6 0 0 .1 0 | Office and store machines and equipment 2/..........| 112.5 112.7 112.7 -.8 0 .1 -.2 0 | Commercial furniture 2/.............................| 160.2 160.4 160.4 1.1 0 .2 -.2 0 | Light motor trucks..................................| 152.9 153.2 152.1 -1.2 -.7 2.3 -.2 .7 | Heavy motor trucks 2/...............................| 146.8 148.5 149.2 .7 .5 1.0 0 .5 | Truck trailers 2/...................................| 138.8 138.7 138.6 -1.4 -.1 0 -.1 -.1 | Civilian aircraft (Dec. 1985=100)...................| 167.3 170.5 170.2 5.1 -.2 .8 .5 -.3 | Ships (Dec. 1985=100) 2/............................| 149.0 148.7 148.9 1.6 .1 1.8 -1.8 .1 | Railroad equipment 2/...............................| 135.6 135.7 135.6 -.2 -.1 0 .1 -.1 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 131.3 129.8 130.1 -.8 .2 -1.0 -.4 .1 | | | INTERMEDIATE FOODS AND FEEDS..........................| 115.2 119.4 118.7 6.8 -.6 .6 1.8 -.4 | | 02-12-03 | Flour 2/............................................| 109.5 108.9 109.6 5.8 .6 -.4 -1.3 .6 02-53 | Refined sugar 2/....................................| 109.1 109.9 111.5 2.6 1.5 -.9 1.2 1.5 02-54 | Confectionery materials.............................| 105.8 106.2 106.0 12.9 -.2 -.1 1.5 -.2 02-72 | Crude vegetable oils 2/.............................| 68.6 83.8 78.4 12.0 -6.4 3.0 14.8 -6.4 02-9 | Prepared animal feeds 2/............................| 102.2 107.2 106.4 4.3 -.7 .7 2.4 -.7 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 132.2 130.4 130.7 -1.1 .2 -1.1 -.5 .1 | | 03-1 | Synthetic fibers 2/.................................| 108.9 107.1 107.8 -.5 .7 .5 -1.0 .7 03-2 | Processed yarns and threads 2/......................| 106.8 104.6 104.2 -3.2 -.4 -1.2 -.4 -.4 03-3 | Gray fabrics 2/.....................................| 114.0 115.5 114.7 1.4 -.7 -1.6 1.9 -.7 03-4 | Finished fabrics....................................| 123.1 122.3 122.5 -.4 .2 -.2 -.8 .1 03-83-03 | Industrial textile products 2/......................| 132.0 133.2 133.6 1.6 .3 .5 -.1 .3 04-2 | Leather 2/..........................................| 209.3 202.1 199.4 7.9 -1.3 -2.4 -.1 -1.3 05-32 | Liquefied petroleum gas 2/..........................| 130.2 111.6 113.3 -13.8 1.5 -17.8 6.5 1.5 ____________________________________________________________________________________________________________________________________ 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 | | |Sept.2001 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | | May |Aug. |Sept. | Sept. | Aug. |June to|July to|Aug. to | |2001 1/|2001 1/|2001 1/| 2000 | 2001 | July | Aug. | Sept. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 135.2 147.7 148.1 6.1 0.3 -0.1 -0.6 0.5 05-43 | Industrial electric power...........................| 136.2 148.8 148.3 7.6 -.3 3.9 -.5 -.6 05-52 | Commercial natural gas (Dec. 1990=100)..............| 180.0 147.9 139.2 -3.7 -5.9 -6.2 -7.0 -6.6 05-53 | Industrial natural gas (Dec. 1990=100)..............| 193.5 146.4 139.0 -6.2 -5.1 -5.5 -11.6 -5.5 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 163.3 105.7 85.0 -32.0 -19.6 -5.5 -18.1 -19.3 05-72-03 | Jet fuels...........................................| 83.1 79.9 82.4 -20.5 3.1 -5.6 -1.6 -.2 05-73-03 | No. 2 Diesel fuel...................................| 93.1 80.9 91.2 -17.7 12.7 -8.1 -7.2 6.7 05-74 | Residual fuel 2/....................................| 76.6 67.4 73.8 -17.4 9.5 2.6 -9.5 9.5 06-1 | Industrial chemicals 2/.............................| 131.9 124.5 126.8 -2.8 1.8 -2.5 -2.3 1.8 06-21 | Prepared paint......................................| 164.4 165.0 164.7 2.4 -.2 -.2 .7 -.2 06-22 | Paint materials 2/..................................| 150.8 148.4 152.8 2.3 3.0 -1.5 -.9 3.0 06-31 | Medicinal and botanical chemicals 2/................| 140.2 140.2 140.1 -3.9 -.1 1.1 -.6 -.1 06-4 | Fats and oils, inedible 2/..........................| 66.8 100.6 95.6 49.6 -5.0 12.9 23.7 -5.0 06-51 | Mixed fertilizers...................................| 118.3 116.7 114.6 1.7 -1.8 -.3 -1.8 -1.7 06-52-01 | Nitrogenates........................................| 157.0 128.0 118.0 -5.8 -7.8 -5.8 -4.5 -7.9 06-52-02 | Phosphates 2/.......................................| 95.9 90.6 93.4 -1.9 3.1 -3.3 -4.7 3.1 06-53 | Other agricultural chemicals 2/.....................| 148.1 147.7 147.8 .7 .1 -.5 -.1 .1 06-6 | Plastic resins and materials 2/.....................| 139.9 132.7 129.1 -9.3 -2.7 -2.1 -3.4 -2.7 07-11-02 | Synthetic rubber 2/.................................| 125.2 123.2 122.5 -.1 -.6 .2 -1.0 -.6 07-21 | Plastic construction products ......................| 134.9 132.9 129.7 -5.2 -2.4 -.9 -.9 -2.0 07-22 | Unsupported plastic film, sheet, & other shapes 2/..| 139.3 136.9 136.5 3.8 -.3 -.6 -.7 -.3 07-26 | Plastic parts and components for manufacturing 2/...| 117.2 117.2 116.1 -1.5 -.9 0 -.1 -.9 08-11 | Softwood lumber 2/..................................| 183.6 172.8 172.2 2.8 -.3 -5.7 -1.7 -.3 08-12 | Hardwood lumber ....................................| 182.0 179.6 178.6 -4.4 -.6 -.1 -.2 -.6 08-2 | Millwork 2/.........................................| 179.3 179.6 179.9 2.1 .2 -.1 .2 .2 08-3 | Plywood 2/..........................................| 165.1 163.6 160.7 2.7 -1.8 -5.9 4.5 -1.8 09-11 | Woodpulp 2/.........................................| 128.6 118.9 115.9 -22.8 -2.5 -2.1 -2.9 -2.5 09-13 | Paper 2/............................................| 152.2 149.7 149.3 -1.1 -.3 -.1 -1.5 -.3 09-14 | Paperboard 2/.......................................| 174.1 170.2 168.5 -6.9 -1.0 .1 -1.3 -1.0 09-15-03 | Paper boxes and containers 2/.......................| 175.7 175.4 175.0 -.1 -.2 -.4 -.1 -.2 09-2 | Building paper and board 2/.........................| 135.9 131.3 129.4 -2.2 -1.4 -1.8 -2.5 -1.4 09-37 | Commercial printing (June 1982=100) 2/..............| 158.0 157.4 157.2 .5 -.1 .1 -.5 -.1 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 | 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...........................| 01-42 | Slaughter turkeys...................................| 137.0 101.6 110.4 149.7 156.6 141.0 106.6 154.9 180.2 156.7 144.8 129.8 127.1 166.8 135.9 164.7 169.4 154.4 146.9 157.4 94.6 143.7 140.2 112.0 150.3 152.1 106.0 146.8 133.9 113.4 145.3 148.0 129.3 148.0 136.9 100.8 100.1 149.5 151.4 140.5 106.6 154.0 180.9 156.9 144.7 129.9 127.1 167.2 136.4 164.8 169.2 154.3 147.2 156.8 93.5 143.8 140.5 112.1 150.7 152.2 107.0 145.4 133.0 113.0 145.6 147.3 129.3 148.2 137.0 100.9 100.1 145.2 152.3 139.4 106.6 155.5 180.2 157.0 144.6 129.8 127.1 167.2 136.3 164.8 169.2 154.3 147.2 157.6 92.0 144.0 140.5 111.9 150.5 152.7 109.6 153.1 133.8 112.7 145.6 147.1 129.3 149.0 .4 -7.1 -14.7 -3.5 -8.0 -3.9 -.7 2.6 -.3 .6 -.1 -.1 .7 2.0 .7 1.5 -.4 1.2 .5 2.8 -5.6 -.1 1.6 .4 .3 2.2 4.8 -18.2 4.9 -.7 3.3 .3 2.7 1.9 .1 .1 0 -2.9 .6 -.8 0 1.0 -.4 .1 -.1 -.1 0 0 -.1 0 0 0 0 .5 -1.6 .1 0 -.2 -.1 .3 2.4 5.3 .6 -.3 0 -.1 0 .5 0 -.7 -2.9 .5 -2.4 -.4 .2 .1 -.4 -.2 .1 -.1 0 .2 0 .1 -.2 .1 .3 0 -.5 -.3 -.1 .2 .6 .7 1.0 -1.1 -.7 -.4 .1 .3 0 0 .1 -.1 -3.5 -.1 -2.7 .2 -.2 .1 .4 .1 0 .5 -.1 .2 .2 -.2 .1 -.1 -.1 -.2 .1 .1 0 -.2 .3 .1 -.3 .3 -.2 .2 .6 .2 0 .1 0 .1 0 -2.9 .6 -.8 0 1.0 -.3 .1 -.1 -.1 0 .1 -.1 0 .1 0 .1 .8 -1.6 .3 0 -.2 .2 .3 2.5 5.3 .6 -.3 .4 -.1 0 .5 131.3 113.4 108.0 -14.3 -4.8 -5.3 -2.3 -4.1 110.3 108.9 108.5 11.2 -.4 .6 -.6 1.1 91.0 74.3 112.9 87.6 141.2 106.7 81.9 83.0 104.7 85.2 140.8 110.7 82.7 80.8 105.2 75.1 148.2 116.7 6.4 23.4 8.1 5.6 9.1 -12.5 1.0 -2.7 .5 -11.9 5.3 5.4 -4.9 16.2 -3.6 7.5 -4.1 -2.8 -1.1 8.5 -2.8 -3.9 -2.3 -2.5 1.0 .1 .5 -1.4 6.3 2.5 01-6 | Fluid milk..........................................| 115.2 122.7 125.7 30.8 2.4 -3.4 -3.1 -2.6 01-83-01-31| Soybeans 2/.........................................| 76.5 88.4 80.1 -3.3 -9.4 7.7 1.6 -9.4 02-52-01-01| Cane sugar,raw 2/...................................| 111.8 110.9 110.6 10.7 -.3 1.1 0 -.3 | | | CRUDE NONFOOD MATERIALS..............................| 141.1 112.4 103.8 -26.4 -7.7 -8.7 -3.4 -7.6 | | 01-51-01-01| Raw cotton..........................................| 69.5 59.1 56.2 -44.2 -4.9 .8 -6.4 -4.8 01-92-01-01| Leaf tobacco 2/.....................................| (3) 105.2 110.2 3.0 4.8 (3) (3) 4.8 04-19 | Hides and skins (June 2001=100) 2/..................| (3) 74.0 77.5 (3) 4.7 -8.7 -18.9 4.7 05-1 | Coal 2/.............................................| 100.3 94.2 96.6 11.9 2.5 4.7 -1.9 2.5 05-31 | Natural gas 2/......................................| 203.6 123.0 95.0 -46.3 -22.8 -19.0 -7.7 -22.8 05-61 | Crude petroleum 2/..................................| 77.7 73.8 73.9 -24.1 .1 -5.1 -.7 .1 08-5 | Logs, timber, etc...................................| 184.0 183.1 182.8 -2.5 -.2 -.8 -.6 -.2 09-12 | Wastepaper 2/.......................................| 136.9 136.3 140.6 -41.3 3.2 .4 .4 3.2 10-11 | Iron ore 2/.........................................| 96.3 96.3 96.4 1.6 .1 0 0 .1 10-12 | Iron and steel scrap 2/.............................| 120.2 125.4 124.6 -8.1 -.6 3.9 1.2 -.6 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 64.6 62.1 63.2 -9.5 1.8 -1.4 -1.4 1.8 10-23-01 | Copper base scrap 2/................................| 120.2 107.8 107.8 -16.4 0 -3.7 -5.5 0 10-23-02 | Aluminum base scrap.................................| 165.8 148.7 146.9 -17.2 -1.2 -6.1 -5.0 -1.7 13-21 | Construction sand, gravel, and crushed stone........| 168.9 169.7 169.7 3.2 0 .2 .3 .1 ____________________________________________________________________________________________________________________________________ 1/ The indexes for May 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/ Table 3. Producer price indexes for selected commodity groupings (1982=100 unless otherwise indicated) _______________________________________________________________________________________________ | | | | | Unadjusted index 1/ | Commodity| |___________________________________| code | Grouping | May 2001 | Aug. 2001 |Sept. 2001 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 400.4 | 395.9 | 397.8 | | All commodities................................| 136.8 | 133.5 | 133.4 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 127.6 | 128.2 | 128.0 | 01 | Farm products................................| 106.8 | 105.3 | 105.0 | 02 | Processed foods and feeds....................| 137.8 | 139.5 | 139.4 | | | | | | Not seasonally adjusted. Not available. 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 03-81 04-4 05-3 05-4 05-7 06-3 06-5 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | Industrial commodities.........................| Textile products and apparel.................| Hides, skins, leather, and related products..| Fuels and related products and power ........| 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..................................| Apparel........................................| Other leather and related products.............| Gas fuels .....................................| Electric power.................................| Refined petroleum products.....................| Drugs and pharmaceuticals......................| Agricultural chemicals and products............| 138.6 121.6 166.0 114.5 153.7 127.9 179.0 185.3 126.1 123.9 133.2 144.0 144.8 182.4 143.7 119.0 79.7 107.2 132.0 69.6 81.0 108.8 88.2 (3) 161.8 128.6 116.7 135.5 145.7 124.5 103.7 126.9 147.6 182.0 135.1 101.2 260.4 134.2 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 134.5 121.2 155.4 102.0 149.9 127.2 176.1 184.2 124.9 123.5 132.7 144.2 144.6 182.7 142.7 106.9 83.1 100.1 132.6 59.4 87.0 115.2 98.6 156.9 162.6 127.9 118.7 135.9 146.6 124.5 119.3 126.6 148.0 118.4 145.2 86.9 260.0 125.8 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 134.4 121.1 155.6 101.5 150.3 126.7 175.6 184.2 124.8 123.2 132.8 144.8 144.6 183.2 142.7 113.1 81.7 97.6 139.5 56.6 81.8 108.7 90.6 164.4 162.8 127.3 121.6 136.3 146.4 124.5 114.5 126.4 148.0 98.4 145.2 95.1 260.8 124.3 | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | | 06-7 07-1 07-11 07-13 07-2 08-1 09-1 | Other chemicals and allied products............| 139.9 | 139.5 | 139.9 | | Rubber and rubber products.....................| 116.8 | 117.1 | 116.9 | | Rubber, except natural rubber..................| 124.6 | 122.6 | 121.9 | | Miscellaneous rubber products..................| 140.0 | 140.2 | 140.2 | | Plastic products...............................| 136.3 | 135.1 | 134.5 | | Lumber.........................................| 181.1 | 172.9 | 172.2 | | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 158.3 | 156.1 | 156.3 | 09-15 | Converted paper and paperboard products........| 164.9 | 163.6 | 164.7 | 10-1 | Iron and steel.................................| 109.9 | 109.8 | 109.9 | 10-2 | Nonferrous metals..............................| 126.0 | 121.5 | 120.8 | 10-25 | Nonferrous mill shapes.........................| 142.5 | 141.4 | 138.8 | 11-3 | Metalworking machinery and equipment...........| 150.7 | 150.7 | 150.6 | 11-4 | General purpose machinery and equipment........| 152.8 | 153.1 | 153.2 | 11-6 | Special industry machinery.....................| 165.2 | 165.6 | 165.0 | 11-7 | Electrical machinery and equipment.............| 117.7 | 117.0 | 116.5 | 11-9 | Miscellaneous machinery and equipment..........| 135.6 | 136.2 | 136.3 | 12-6 | Other household durable goods..................| 157.3 | 157.2 | 157.6 | 13-2 | Concrete ingredients...........................| 159.2 | 159.8 | 159.8 | 14-1 | Motor vehicles and equipment...................| 131.2 | 130.3 | 130.3 | 15-1 | Toys, sporting goods, small arms, etc..........| 133.4 | 132.4 | 133.1 | 15-4 | Photographic equipment and supplies............| 111.8 | 111.8 | 111.8 | 15-9 | Other miscellaneous products...................| 139.1 | 139.2 | 139.4 | __________________________________________________________|___________|___________|___________| 1/ 2/ 3/ Data for May 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. Prices for some items in this grouping are lagged 1 month. Not available. Table 4. Producer price indexes for the net output of major industry groups, not seasonally adjusted __________________________________________________________________________________________________________________ | | | Index | Percent change Industry | Industry 1/ |Index|_______________________|to_Sep._2001_from: code | |base | | | | | | | |May |Aug. |Sep. | Sep. | Aug. | | |2001 2/|2001 2/|2001 2/| 2000 | 2001 __________________|______________________________________________|_____|_______|_______|_______|________|_________ | | | |Total mining industries...................... |12/84| 128.1 100.4 92.6 -25.7 -7.8 10 | Metal mining................................ |12/84| 71.6 69.6 70.6 -6.1 1.4 12 | Coal mining................................. |12/85| 93.8 89.9 92.5 10.8 2.9 13 | Oil and gas extraction...................... |12/85| 145.6 109.4 98.3 -30.7 -10.1 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 140.8 141.2 141.4 2.5 .1 | | | |Total manufacturing industries............... |12/84| 136.5 134.8 135.6 .7 .6 20 | Food and kindred products................... |12/84| 133.4 134.7 134.7 4.8 0 21 | Tobacco manufactures........................ |12/84| 391.3 391.0 391.1 11.4 0 22 | Textile mill products....................... |12/84| 117.2 116.6 116.5 -.1 -.1 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 125.9 126.1 125.9 0 -.2 24 | Lumber and wood products, except furniture.. |12/84| 160.1 157.5 156.9 1.0 -.4 25 | Furniture and fixtures...................... |12/84| 145.2 145.2 145.3 1.3 .1 26 | Paper and allied products................... |12/84| 147.0 145.4 145.5 -1.5 .1 27 | Printing, publishing, and allied industries. |12/84| 188.7 188.9 188.8 2.8 -.1 28 | Chemicals and allied products............... |12/84| 160.1 156.3 156.4 -1.2 .1 29 | Petroleum refining and related products..... |12/84| 122.8 106.8 115.4 -7.8 8.1 30 | Rubber and miscellaneous plastic products... |12/84| 126.5 126.0 125.2 -.2 -.6 31 | Leather and leather products................ |12/84| 142.7 142.1 141.3 2.1 -.6 32 | Stone, clay, glass, and concrete products... |12/84| 136.0 135.9 136.4 1.2 .4 33 | Primary metal industries.................... |12/84| 116.7 115.8 115.2 -4.4 -.5 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 131.2 131.1 131.1 .5 0 35 | Machinery, except electrical................ |12/84| 118.1 118.0 117.8 .2 -.2 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 107.2 106.4 106.4 -1.6 0 37 | Transportation equipment.................... |12/84| 137.4 137.2 137.2 1.1 0 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 127.3 127.4 127.5 1.0 .1 39 | Miscellaneous manufacturing industries...... |12/85| 132.5 132.3 132.6 1.2 .2 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 103.8 104.3 104.3 1.4 0.0 42 | Motor freight transportation and warehousing |06/93| 122.9 123.4 123.6 2.0 .2 43 | United States Postal Service................ |06/89| 141.3 145.4 145.4 7.5 0 44 | Water transportation........................ |12/92| 129.2 132.0 140.9 10.9 6.7 45 | Transportation by air....................... |12/92| 156.7 159.1 158.6 4.7 -.3 46 | Pipe lines, except natural gas.............. |12/86| 109.0 111.2 111.3 8.7 .1 54 | Food stores................................. |12/99| 108.2 107.9 109.5 4.7 1.5 59 | Miscellaneous retail........................ |06/00| 99.6 100.6 99.8 .8 -.8 80 | Health services............................. |12/94| 116.0 116.5 116.7 2.9 .2 81 | Legal services.............................. |12/96| 117.6 118.4 118.3 4.0 -.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 May 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 | | | | | | | Apr. | May | June | July | Aug. | Sep. | 2001 | 2001 | 2001 | 2001 | 2001 | 2001 _______________________________________________________|________|________|________|________|________|________ | Finished goods...................................| 142.3 142.4 141.7 140.4 140.9 141.4 Finished consumer goods........................| 143.5 143.8 142.8 140.9 141.6 142.2 Finished consumer foods......................| 142.3 142.0 141.7 140.9 142.1 142.4 Crude......................................| 138.7 131.1 123.3 113.5 120.9 124.9 Processed..................................| 142.6 142.8 143.1 143.1 143.8 143.8 Finished consumer goods, excluding foods.....| 143.9 144.4 143.1 140.7 141.1 141.9 Nondurable goods less foods................| 146.2 147.1 145.3 141.8 142.3 143.1 Durable goods..............................| 134.3 133.9 133.8 134.1 134.3 135.0 Capital equipment..............................| 139.8 139.5 139.9 140.2 140.1 140.3 Manufacturing industries.....................| 140.4 140.3 140.5 140.6 140.7 140.6 Nonmanufacturing industries..................| 139.4 139.2 139.6 140.0 139.8 140.1 | Intermediate materials, supplies, and components.| 131.2 131.3 131.1 129.8 129.3 129.4 Materials and components for manufacturing.....| 128.6 128.5 128.2 127.5 126.9 126.6 Materials for food manufacturing.............| 123.9 124.7 125.5 125.7 127.4 127.1 Materials for nondurable manufacturing.......| 135.0 133.9 133.3 131.8 130.1 130.0 Materials for durable manufacturing..........| 125.8 126.6 126.4 125.3 124.6 124.3 Components for manufacturing.................| 126.6 126.5 126.4 126.3 126.2 125.9 Materials and components for construction......| 150.3 151.4 151.6 150.9 150.9 150.8 Processed fuels and lubricants.................| 109.0 109.7 108.6 104.4 103.4 104.4 Manufacturing industries ....................| 108.5 108.1 106.8 106.2 104.6 105.2 Nonmanufacturing industries..................| 108.9 110.1 109.3 103.1 102.4 103.7 Containers.....................................| 153.9 153.8 154.0 153.6 153.2 153.0 Supplies.......................................| 138.9 138.6 138.8 138.8 138.7 138.6 Manufacturing industries.....................| 146.2 145.9 145.8 145.7 145.2 145.0 Nonmanufacturing industries..................| 135.8 135.6 135.9 135.8 135.9 135.8 Feeds......................................| 93.2 93.1 95.0 96.8 99.8 98.8 Other supplies.............................| 141.0 140.7 140.8 140.6 140.3 140.4 | Crude materials for further processing...........| 133.0 130.1 121.9 115.4 112.7 108.1 Foodstuffs and feedstuffs......................| 109.0 107.6 107.5 108.1 107.5 108.7 Nonfood materials..............................| 144.7 141.0 127.4 116.3 112.3 103.8 Nonfood materials except fuel 2/.............| 105.6 107.3 107.3 104.2 103.4 103.6 Manufacturing 2/...........................| 97.0 98.7 98.6 95.7 95.0 95.1 Construction...............................| 180.9 182.9 184.9 183.4 182.5 182.6 Crude fuel 3/................................| 186.8 175.9 144.7 123.5 115.5 95.8 Manufacturing industries...................| 185.8 173.7 143.8 121.2 113.7 93.9 Nonmanufacturing industries................| 190.2 179.2 147.3 126.0 117.7 97.6 | Special groupings | | Finished goods, excluding foods..................| 142.1 142.5 141.6 140.1 140.4 140.9 Intermediate materials less foods and feeds......| 132.1 132.2 131.9 130.5 129.9 130.0 Intermediate foods and feeds.....................| 114.4 114.9 116.1 116.8 118.9 118.4 Crude materials less agricultural products 2/....| 147.5 143.7 129.7 118.1 113.6 104.7 | Finished energy goods............................| 103.3 103.7 100.6 94.8 95.8 96.7 Finished goods less energy.......................| 147.6 147.8 147.7 147.7 148.0 148.4 Finished consumer goods less energy..............| 151.0 151.2 151.0 150.8 151.3 151.7 | Finished goods less foods and energy.............| 149.8 150.1 150.1 150.4 150.3 150.7 Finished consumer goods less foods and energy....| 156.5 157.1 157.0 157.2 157.1 157.7 Consumer nondurable goods less foods and energy..| 174.0 175.5 175.5 175.5 175.3 175.7 | Intermediate energy goods........................| 108.6 109.2 108.1 104.0 103.0 104.0 Intermediate materials less energy...............| 135.9 135.9 135.9 135.3 134.9 134.7 Intermediate materials less foods and energy.....| 137.3 137.3 137.1 136.5 136.0 135.8 | Crude energy materials 2/........................| 145.1 140.5 123.1 109.0 104.2 93.1 Crude materials less energy......................| 114.6 113.4 113.0 113.2 112.4 113.4 Crude nonfood materials less energy 3/...........| 132.0 131.2 130.3 129.1 128.1 128.3 _____________________________________________________________________________________________________________ 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 May 2001 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 Wireless Telecommunications Telephone Communications, Except Radio Telephone Grocery Stores SIC PPI Detailed Report Issue 4812 July 1999 4813 5411 July 1995 July 2000 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 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 3.5 Divided by the previous index Equals Result multiplied by 100 Equals percent change 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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