FOR DATA ONLY: (202) 691-5200 USDL 02-212 FOR TECHNICAL INFORMATION: TRANSMISSION OF MATERIAL IN (202) 691-7705 THIS RELEASE IS EMBARGOED MEDIA CONTACT: (202) 691-5902 UNTIL 8:30 A.M. (E.D.T.), FRIDAY, http://www.bls.gov/ppi APRIL 12, 2002 Producer Price Indexes -- March 2002 The Producer Price Index for Finished Goods advanced 1.0 percent in March, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This increase followed a 0.2-percent increase in February and a 0.1-percent rise in January. The intermediate goods index advanced 1.0 percent in March, after dropping 0.1 percent in the prior month. Prices received by producers of crude goods rose 4.0 percent, following a 0.8-percent decline 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 | |--------------------------------------------------------------------------------------| 2001 Mar. -0.2 0.6 -2.7 0.1 3.0 -0.3 -6.9 Apr. .3 .5 .4 .2 3.7 -.2 .6 May .2 0 .5 .2 3.9 .1 -2.0 June -.5 -.4 -2.6 .1 2.6 -.2 -8.1 July -1.2 -.4 -7.3 .1 1.4 -1.1 -5.3 Aug. .4 .7 1.4 0 2.0 -.2 -.7 Sept. .4 .1 1.5 .1 1.6 .1 -4.4 Oct. -1.3 -.1 -6.7 -.4 -.3 -1.3 -8.8 Nov. -.6 r-.8 r-3.9 .1 r-1.2 r-.7 r4.9 Dec. r-.5 r-.1 r-3.3 0 -1.8 r-.7 r-7.2 2002 Jan. .1 .8 .1 -.1 -2.6 -.1 3.7 Feb. .2 1.0 .4 0 -2.6 -.1 -.8 Mar. 1.0 .6 5.5 .1 -1.4 1.0 4.0 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for November 2001 have been revised to reflect the availability of late reports and corrections by respondents. -2- March's acceleration in the finished goods index was primarily due to prices for finished energy goods, which advanced 5.5 percent compared with a 0.4-percent gain in February. Excluding energy goods, the index for finished goods rose 0.2 percent in March. Prices for finished goods other than foods and energy edged up 0.1 percent, after being unchanged in the prior month. In contrast, the index for finished consumer foods increased less in March than in February. During the first quarter of 2002, the Finished Goods Price Index advanced at a seasonally adjusted annual rate of 5.6 percent, after posting a 9.6-percent decline during the fourth quarter of 2001. The index for finished energy goods rose at a 26.3-percent annual rate during the first quarter of 2002, after dropping 43.4 percent in the last three months of 2001. Finished consumer food prices moved up 10.0 percent from December 2001 to March 2002, following a 4.2-percent annual rate of decline in the previous quarter. Prices for finished goods other than foods and energy rose at a 0.3-percent rate over the first quarter of 2002, after declining at a 1.3-percent seasonally adjusted annual rate in the previous quarter. Prices for intermediate materials, supplies, and components rose 3.5 percent in the first quarter of 2002, following a 10.4-percent rate of decline in the final quarter of 2001. During the first three months of 2002, the Producer Price Index for Crude Materials for Further Processing advanced at a seasonally adjusted annual rate of 30.6 percent, after dropping at a 37.9-percent rate in the prior quarter. Summary of December-to-December and 3-month seasonally adjusted annual rates for selected stages of process ______________________________________________________________________________________________ | | Percentage | | | | change 12 | Seasonally adjusted annual rate for: | | | months ended | | | Grouping | in December | | | |--------------------|-----------------------------------------| | | | | |3 months |3 months |3 months |3 months | | | 1999 | 2000 | 2001 |ended in |ended in |ended in |ended in | | | | | |June 2001|Sept. 2001|Dec. 2001 |Mar. 2002| |----------------------------------------------------------------------------------------------| Finished goods 2.9 3.6 -1.8 0.0 -1.7 -9.6 5.6 Finished consumer foods .8 1.7 1.8 .6 1.7 -4.2 10.0 Finished energy goods 18.1 16.6 -17.2 -6.9 -17.1 -43.4 26.3 Finished goods less foods and energy .9 1.3 .7 1.9 1.1 -1.3 .3 Finished consumer goods, excluding foods and energy 1.2 1.4 1.3 2.6 1.0 -.8 0 Capital equipment .3 1.2 -.1 .3 1.2 -2.0 .3 Intermediate materials, supplies, and components 3.7 4.1 -4.0 -.9 -5.1 -10.4 3.5 Intermediate foods and feeds -4.2 3.6 .5 6.1 6.7 -11.3 .3 Intermediate energy goods 19.6 19.0 -17.2 -3.3 -16.0 -40.3 16.8 Intermediate materials less foods and energy 1.9 1.6 -1.6 -.9 -3.5 -3.5 1.2 Materials for nondurable manufacturing 4.0 4.1 -5.4 -7.5 -9.6 -9.8 .6 Materials for durable manufacturing 2.4 .2 -3.9 -.6 -5.9 -5.7 3.3 Materials and components for construction 2.2 .1 0 3.8 -1.8 -2.1 .8 Crude materials for further processing 15.3 35.5 -32.4 -32.6 -34.5 -37.9 30.6 Foodstuffs and feedstuffs -.1 7.4 -7.4 -4.0 3.8 -34.7 21.6 Crude energy materials 36.9 85.6 -53.0 -52.0 -63.7 -51.3 67.1 Crude nonfood materials less energy 14.0 -5.5 -9.9 -15.3 -2.4 -9.0 1.3 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. -3- Before seasonal adjustment, the Producer Price Index for Finished Goods rose 0.9 percent in March to stand at 138.9 (1982=100). From March 2001 to March 2002, the finished goods index fell 1.4 percent. During the same period, the index for finished goods other than foods and energy rose 0.4 percent, and prices for finished consumer foods advanced 1.8 percent. By contrast, the index for finished energy goods fell 13.5 percent. At the earlier stages of processing, prices received by producers of intermediate goods decreased 3.2 percent, and the crude goods index dropped 22.6 percent. Finished goods The index for finished energy goods advanced 5.5 percent in March, after posting a 0.4-percent gain in February. Gasoline prices rose 21.3 percent in March (the second largest increase on record), following a 4.5- percent increase a month earlier. The indexes for liquefied petroleum gas and home heating oil increased at a faster rate in March than they did in the previous month. March prices for residential natural gas and diesel fuel advanced, after declining 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 | | | | | Except |12 months | | | Except | months | | | | |foods and| ago | | Energy |foods and| ago | |Month | Foods | Energy | energy | (unadj.) | Foods | (unadj.)| energy |(unadj.) | |----------------------------------------------------------------------------------| 2001 Mar. 0.1 -2.1 0.1 2.3 2.8 -14.0 -1.0 17.1 Apr. -.1 -.6 -.1 2.1 -.2 2.1 -2.6 19.6 May .6 .4 0 2.3 -.8 -3.2 -.5 13.3 June 1.0 -.6 -.1 1.2 0 -15.8 -1.0 -4.0 July .6 -5.0 -.5 -.2 .6 -12.4 1.0 -7.3 Aug. 1.8 -.3 -.3 -.2 -.6 -.5 -1.8 -4.5 Sept. -.8 1.1 -.1 -.8 .8 -11.0 .2 -14.6 Oct. -.4 -6.2 -.4 -2.4 -3.5 -17.9 -1.5 -25.1 Nov. r-1.6 r-3.2 -.2 r-3.0 r-4.9 r19.9 r-.3 r-20.5 Dec. -1.0 r-3.2 -.2 -4.0 r-2.1 r-15.2 r-.6 -32.4 2002 Jan. -.1 -.6 0 -4.6 4.0 5.6 -.5 -40.4 Feb. 0 -.7 0 -4.4 2.3 -6.5 1.5 -30.9 Mar. .2 5.2 .3 -3.2 -1.3 15.2 -.7 -22.6 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for November 2001 have been revised to reflect the availability of late reports and corrections by respondents. -4- Prices for finished consumer goods other than foods and energy increased 0.2 percent in March, following a 0.1-percent decline in February. The indexes for book publishing, floor coverings, lawn and garden equipment, and household appliances also turned up in March, following declines a month earlier. Prices for cosmetics and other toilet preparations rose this month, after showing no change in February, while the index for sanitary papers and health products posted no change in March, after falling in the prior month. Prices for light motor trucks and alcoholic beverages rose at a faster pace in March than they did in February. By contrast, the index for periodical circulation posted a 0.8- percent decline, following a 1.2-percent gain in February. Prices for women's apparel and passenger cars fell at a faster rate in March than they did in the prior month. The index for soaps and synthetic detergents fell this month, after showing no change in the previous month. During the first quarter of 2002, prices for finished consumer goods other than foods and energy showed no change, after registering a 0.8-percent rate of decline in the final quarter of 2001. The index for finished consumer foods rose at a slower pace in March than in February, 0.6 percent compared with 1.0 percent. Similarly, the 0.8-percent price increase for beef and veal was less than the 7.4-percent jump in February. The index for finfish and shellfish fell in March, following an increase a month earlier, while prices for processed young chickens fell this month, after posting no change in February. Dairy product prices fell at a faster rate in March than they did in the prior month. Alternatively, prices for fresh fruits and melons fell 3.3 percent in March, after dropping 13.3 percent in February. The indexes for eggs for fresh use and for shortening and cooking oils advanced in March, following declines in the previous month. The index for fresh and dry vegetables rose faster in March than it did a month earlier. The capital equipment index rose 0.1 percent in both March and February. Price increases for light motor trucks, heavy motor trucks, and for x-ray and electromedical equipment were offset by falling prices for communication and related equipment, passenger cars, and electronic computers. The index for capital equipment posted a 0.3-percent seasonally adjusted annual rate of increase in the first three months of 2002, following a 2.0-percent rate of decline a quarter earlier. Intermediate Goods The Producer Price Index for Intermediate Materials, Supplies, and Components increased 1.0 percent in March, after edging down 0.1-percent in February. An upturn in prices for intermediate energy goods in March contributed significantly to the movement of the overall intermediate goods index. The indexes for durable manufacturing materials and intermediate foods and feeds rose, after showing no change in the prior month. Prices for nondurable manufacturing materials advanced at a faster pace than they did in February. The index for materials and components for construction inched up, following a decline in the previous month. Prices for intermediate goods other than foods and energy rose in March, after showing no change a month ago. (See table B.) The index for intermediate energy goods jumped 5.2 percent in March (the largest increase since a 7.5-percent advance in October 1990), after falling 0.7 percent in February. March prices for gasoline and liquefied petroleum gas rose more than they did in February. The indexes for natural gas to electric utilities, diesel fuel, jet fuels, industrial natural gas, commercial natural gas, and commercial electric power turned up, after declining in the previous month. By contrast, the index for industrial electric power decreased 2.8 percent, following a 0.2-percent fall in the prior month. Prices for intermediate energy goods advanced at a 16.8- percent seasonally adjusted annual rate from December 2001 to March 2002, after registering a 40.3-percent rate of decline during the previous three months. -5- The durable manufacturing materials index increased 0.7 percent in March, after showing no change in February. Hot rolled sheet and strip prices rose 3.6 percent, following a 1.1-percent decline in the previous month. The indexes for primary aluminum (except extrusion billet) and prepared paint also turned up, after falling in the prior month. Prices for hot rolled bars, plates, and structural shapes increased, after showing no change in February. The indexes for building paper and board, copper and brass mill shapes, and plywood advanced at a faster rate than they did a month ago. On the other hand, flat glass prices decreased 0.4 percent in March, following a 0.2-percent gain in the previous month. The cold rolled sheet and strip index rose less than it did in February. Prices for semi- finished steel mill products, gold, and cement turned down in March. The index for materials for durable manufacturing increased at a seasonally adjusted annual rate of 3.3 percent during the first quarter of 2002, after falling at a 5.7-percent annual rate in the previous quarter. Prices for nondurable manufacturing materials rose 0.8 percent in March, after posting a 0.6-percent gain in the prior month. The primary basic organic chemicals index moved up 12.7 percent, following a 1.1- percent increase in February. The index for potassium and sodium compounds also rose at a faster pace in March than in February. The index for paper decreased less than it did a month ago. Prices for gray fabrics, fertilizer materials, and for medicinal and botanical chemicals turned up, after falling in the previous month. Conversely, prices for plastic resins and materials turned down 3.6 percent, following a 2.8-percent increase in February. The indexes for woodpulp and leather also declined, after advancing in the prior month. Prices for paint materials and intermediate basic organic materials rose at a slower pace than they did in the previous month. From December 2001 to March 2002, the index for materials for nondurable manufacturing advanced at a 0.6-percent seasonally adjusted annual rate, following a 9.8-percent rate of decline during the final quarter of 2001. Prices for materials and components for construction edged up 0.1 percent in March, after posting a 0.1-percent decline in February. The index for softwood lumber rose 2.7 percent, following a 1.2-percent increase in the prior month. The index for plywood also advanced at a faster rate than it did in February. Prices for nonferrous wire and cable, plastic construction products, and hardwood lumber fell less than they did a month ago. On the other hand, gypsum product prices decreased 3.5 percent in March, following a 1.8-percent gain in the previous month. The indexes for air conditioning and refrigeration equipment also turned down in March. Prices for fabricated structural metal products and for asphalt felts and coatings moved down, after showing no change in the prior month. The wiring devices index increased less than it did in February. During the first quarter of 2002, prices for materials and components for construction advanced at a 0.8-percent seasonally adjusted annual rate, following a 2.1-percent rate of decline during the prior quarter. The intermediate foods and feeds index advanced 0.2 percent in March, after showing no change in February. Prepared animal feed prices turned up 1.4 percent, following a 1.2-percent decline in the previous month. The crude vegetable oils index also increased, after falling in February. Prices for confectionery materials decreased at a slower pace than they did a month ago. The indexes for refined sugar, flour, and dry mix preparations moved up in March, after showing no change in the prior month. By contrast, beef and veal prices advanced 0.8 percent in March, following a 7.4-percent increase in February. The index for natural, processed, and imitation cheese turned down in March. Prices for pork fell, after showing no change in the prior month. The index for dry, condensed, and evaporated milk products declined more than it did in February. From December 2001 to March 2002, prices for intermediate foods and feeds rose at a 0.3-percent seasonally adjusted annual rate, after decreasing at an 11.3-percent rate for the previous quarter. -6- Crude Goods The Producer Price Index for Crude Materials for Further Processing advanced 4.0 percent in March, seasonally adjusted, following a 0.8-percent decline in February. Prices for crude energy materials increased in March, after falling in the previous month. By contrast, the indexes for crude foodstuffs and feedstuffs and for basic industrial materials turned down, after rising a month earlier. (See table B.) Prices for crude energy materials jumped 15.2 percent in March, following a 6.5-percent decline in February. The natural gas index rebounded 19.7 percent, after dropping 20.7 percent in the prior month. Coal prices increased 4.7 percent, following a 1.6-percent decline in February. The index for crude petroleum advanced 16.1 percent, after rising 13.3 percent a month ago. Prices for crude energy materials rose at a 67.1-percent seasonally adjusted annual rate from December 2001 to March 2002, following a 51.3-percent rate of decline from September 2001 to December 2001. Subsequent to a 2.3-percent rise in February, the crude foodstuffs and feedstuffs index declined 1.3 percent in March. The rate of increase in slaughter cattle prices slowed from 9.6 percent in February to 3.0 percent in March. The fluid milk index turned down, after increasing in the previous month. Prices for slaughter broilers and fryers, slaughter hogs, and corn fell more in March than they did in February. Partially offsetting the downturn in prices for crude foodstuffs and feedstuffs, the index for soybeans increased 4.1 percent, after declining 0.9 percent a month earlier. March prices for fresh fruits and melons, wheat, and alfalfa hay fell less than they did in the prior month. The index for fresh and dry vegetables advanced at a slightly faster rate in March than it did in February. From December 2001 to March 2002, prices for crude foodstuffs and feedstuffs rose at a 21.6-percent seasonally adjusted annual rate, following a 34.7-percent rate of decline in the final quarter of 2001. The index for basic industrial materials fell 0.7 percent, following a 1.5-percent gain in February. Leaf tobacco prices moved down 26.5 percent, after falling 2.4 percent in the previous month. The index for iron and steel scrap rose less in March than it did a month earlier. Prices for gold ores and raw cotton turned down, following increases in February. The index for construction sand, gravel, and crushed stone showed no change, after increasing a month ago. March prices for wastepaper declined more rapidly than they did in February. By contrast, the index for pulpwood posted a 12.7-percent rise in March, after showing no change a month earlier. Prices for aluminum base scrap and for hides and skins turned up, after falling in February. The index for softwood logs, bolts, and timber rose more than it did in the previous month, while prices for hardwood logs, bolts, and timber fell at a slower rate in March than they did in February. The basic industrial materials index advanced at a 1.3-percent seasonally adjusted annual rate from December 2001 to March 2002, following a 9.0-percent rate of decline in the final quarter of 2001. -7- Net output price indexes for mining, manufacturing, and services industries Mining. The Producer Price Index for the Net Output of Total Domestic Mining Industries jumped 10.4 percent in March, following a 4.5-percent decline in February. (Net output price indexes are not seasonally adjusted.) Most of this upturn can be traced to the index for crude petroleum, natural gas, and natural gas liquids, which surged 17.7 percent, after dropping 7.6 percent in the prior month. Prices received by the industries for bituminous coal and lignite surface mining, coal mining services, construction sand and gravel, and iron ores also turned up in March. The March index for the bituminous coal underground mining industry fell at a slower rate than it did in February. By contrast, prices received by the gold ores industry decreased 1.9 percent in March, following a 4.7-percent rise a month earlier. The index for the oil and gas well drilling industry declined at a faster pace in March than it did in the previous month. Prices received by the industries for potash, soda, and borate minerals; crushed and broken granite; oil and gas field exploration services; and kaolin and ball clay turned down, after increasing in February. From December 2001 to March 2002, the Producer Price Index for the Net Output of Total Mining Industries advanced at a 47.8-percent annual rate, following a 45.5-percent rate of decrease over the previous calendar quarter. In March 2002, this index stood at 86.0, 34.5-percent below its year-ago level. Manufacturing. The Producer Price Index for the Net Output of Total Manufacturing Industries rose 0.7 percent in March, after moving up 0.2 percent in February. An 11.8-percent increase in prices received by the petroleum refining and related products industry group -- which followed a 2.2-percent gain in February -- accounted for most of the acceleration in manufacturing industry prices. The industry group indexes for machinery (except electrical), rubber and miscellaneous plastic products, textile mill products, and primary metals turned up in March. Prices received by the lumber and wood products (except furniture) industry group advanced more than they did in February. On the other hand, the industry group index for food and kindred products edged up 0.1 percent in March, after gaining 0.5 percent a month earlier. Prices received by the chemicals and allied products industry group also exhibited a slower rate of increase. The industry group index for electrical and electronic machinery and equipment fell at a faster rate than it did in the previous month. Prices received by both the industry groups for printing and publishing and for measuring and controlling instrument showed no change, following 0.2- percent gains in February. During the first quarter of 2002, the Producer Price Index for the Net Output of Total Manufacturing Industries rose at a 4.6 percent annual rate, after falling at an 11.8-percent rate during the prior calendar quarter. In March 2002, this index stood at 132.9, 1.2 percent below its year-ago level. Services. Among service industries in March, rising prices were posted by the industries for scheduled air transportation, engineering services, accounting services, hotels and motels, travel agencies, data processing services, radio broadcasting, and freight transportation arrangement. Alternatively, the industries for truck rental and leasing, wireless telecommunications, local trucking without storage, help supply services, and general medical and surgical hospitals exhibited declining prices in March. ***** Producer Price Index data for April 2002 will be released on Friday, May 10, 2002 at 8:30 a.m. (E.D.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| |Mar. 2002 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | |Nov. |Feb. |Mar. | Mar. | Feb. |Dec. to|Jan. to |Feb. to | 2001 1/|2001 2/|2002 2/|2002 2/| 2001 | 2002 | Jan. | Feb. | Mar. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 138.3 137.7 138.9 -1.4 0.9 0.1 0.2 1.0 Finished consumer goods........................| 72.937 138.2 137.6 139.2 -1.8 1.2 .2 .4 1.3 Finished consumer foods......................| 21.004 140.7 142.7 143.7 1.8 .7 .8 1.0 .6 Crude......................................| 1.556 123.8 145.7 159.6 16.2 9.5 8.3 5.1 10.0 Processed..................................| 19.448 142.0 142.3 142.2 .6 -.1 .2 .7 -.3 Finished consumer goods, excluding foods.....| 51.934 137.0 135.4 137.2 -3.3 1.3 .1 0 1.7 Nondurable goods less foods................| 35.348 136.5 134.5 137.0 -4.5 1.9 .1 .1 2.3 Durable goods..............................| 16.585 134.2 133.6 133.7 -.3 .1 .2 -.1 .3 Capital equipment..............................| 27.063 139.9 139.6 139.5 -.1 -.1 -.1 .1 .1 Manufacturing industries.....................| 7.945 140.4 140.3 140.2 0 -.1 -.2 .1 0 Nonmanufacturing industries..................| 19.118 139.6 139.2 139.1 -.2 -.1 0 0 .1 | Intermediate materials, supplies, and components.| 100.000 126.6 125.5 126.5 -3.2 .8 -.1 -.1 1.0 Materials and components for manufacturing.....| 47.159 125.3 124.8 125.3 -2.9 .4 -.2 .2 .4 Materials for food manufacturing.............| 2.914 123.9 123.3 123.2 .7 -.1 .3 .5 -.3 Materials for nondurable manufacturing.......| 14.182 127.2 125.7 126.7 -6.8 .8 -1.2 .6 .8 Materials for durable manufacturing..........| 9.183 122.7 122.7 123.6 -2.3 .7 .1 0 .7 Components for manufacturing.................| 20.880 126.3 126.4 126.5 -.1 .1 .3 -.1 .1 Materials and components for construction......| 13.125 150.2 150.3 150.5 .2 .1 .2 -.1 .1 Processed fuels and lubricants.................| 14.837 93.9 89.6 92.8 -12.4 3.6 -.4 -.7 5.2 Manufacturing industries ....................| 6.118 97.0 95.4 96.1 -9.6 .7 -1.3 -.6 1.8 Nonmanufacturing industries..................| 8.719 91.8 86.0 90.9 -13.8 5.7 .3 -.9 7.7 Containers.....................................| 3.429 152.3 152.3 151.6 -1.0 -.5 .2 -.1 -.5 Supplies.......................................| 21.450 138.3 138.1 138.3 -.4 .1 .1 -.1 .1 Manufacturing industries.....................| 4.735 144.9 144.4 144.2 -1.0 -.1 .1 -.3 -.1 Nonmanufacturing industries..................| 16.715 135.5 135.3 135.7 -.1 .3 .1 -.1 .3 Feeds......................................| 1.088 96.2 93.1 94.6 -.9 1.6 -1.3 -1.4 1.6 Other supplies.............................| 15.627 140.2 140.3 140.6 -.1 .2 .2 0 .1 | Crude materials for further processing...........| 100.000 102.1 97.6 102.3 -22.6 4.8 3.7 -.8 4.0 Foodstuffs and feedstuffs......................| 46.246 98.5 102.3 102.9 -5.7 .6 4.0 2.3 -1.3 Nonfood materials..............................| 53.754 100.8 90.4 98.3 -31.4 8.7 3.2 -3.4 8.6 Nonfood materials except fuel 3/.............| 32.086 87.4 88.6 93.1 -12.3 5.1 2.2 5.0 5.1 Manufacturing 3/...........................| 31.041 79.8 80.9 85.1 -12.8 5.2 2.3 5.2 5.2 Construction...............................| 1.045 179.7 178.8 180.2 -.4 .8 -1.2 -.2 .8 Crude fuel 4/................................| 21.668 111.2 83.4 96.2 -47.4 15.3 4.8 -15.8 15.3 Manufacturing industries...................| 1.994 107.9 82.2 94.3 -48.2 14.7 4.8 -15.1 14.7 Nonmanufacturing industries................| 19.674 113.5 85.0 98.0 -47.4 15.3 4.8 -15.8 15.3 | Special groupings | | Finished goods, excluding foods..................|5/ 78.996 137.5 136.2 137.4 -2.4 .9 0 0 1.1 Intermediate materials less foods and feeds......|6/ 95.998 127.2 126.2 127.1 -3.4 .7 -.1 -.1 1.0 Intermediate foods and feeds.....................|6/ 4.002 115.4 114.0 114.4 .2 .4 -.1 0 .2 Crude materials less agricultural products 3/ 7/.|8/ 51.619 101.6 90.8 99.5 -31.6 9.6 3.4 -3.5 9.5 | Finished energy goods............................|5/ 13.761 84.8 81.8 85.6 -13.5 4.6 .1 .4 5.5 Finished goods less energy.......................|5/ 86.239 147.8 147.9 148.3 .7 .3 .1 .3 .2 Finished consumer goods less energy..............|5/ 59.176 151.1 151.5 152.0 1.1 .3 .2 .3 .3 | Finished goods less foods and energy.............|5/ 65.235 150.6 150.1 150.2 .4 .1 -.1 0 .1 Finished consumer goods less foods and energy....|5/ 38.173 157.8 157.2 157.4 .7 .1 -.1 -.1 .2 Consumer nondurable goods less foods and energy..|5/ 21.588 176.6 176.0 176.2 1.4 .1 -.2 -.1 .1 | Intermediate energy goods........................|6/ 14.961 93.5 89.2 92.4 -12.4 3.6 -.6 -.7 5.2 Intermediate materials less energy...............|6/ 85.039 133.8 133.5 133.8 -1.6 .2 -.1 .1 .2 Intermediate materials less foods and energy.....|6/ 81.037 135.0 134.8 135.1 -1.7 .2 0 0 .3 | Crude energy materials 3/........................|8/ 32.249 90.4 75.7 87.2 -38.6 15.2 5.6 -6.5 15.2 Crude materials less energy......................|8/ 67.751 105.0 108.6 108.8 -5.9 .2 2.7 2.0 -1.0 Crude nonfood materials less energy 4/...........|8/ 21.505 124.8 127.4 126.7 -6.6 -.5 -.5 1.5 -.7 | _______________________________________________________________________________________________________________________________ 1/ Comprehensive relative importance figures are initially computed 3/ Includes crude petroleum. after the publication of December indexes and are recalculated 4/ Excludes crude petroleum. after final December indexes are available. The first-published 5/ Percent of total finished goods. and final December relative importances initially appear, 6/ Percent of total intermediate materials. respectively, in the release tables containing January and May data. 7/ Formerly titled "Crude materials for 2/ The indexes for November 2001 have been recalculated to incorporate further processing, excluding crude late reports and corrections by respondents. All indexes foodstuffs and feedstuffs, plant and are subject to revision 4 months after original publication. 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. 2002 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Nov. |Feb. |Mar. | Mar. | Feb. |Dec. to|Jan. to|Feb. to | |2001 1/|2002 1/|2002 1/| 2001 | 2002 | Jan. | Feb. | Mar. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 138.3 137.7 138.9 -1.4 0.9 0.1 0.2 1.0 | FINISHED CONSUMER GOODS...............................| 138.2 137.6 139.2 -1.8 1.2 .2 .4 1.3 | FINISHED CONSUMER FOODS..............................| 140.7 142.7 143.7 1.8 .7 .8 1.0 .6 | | 01-11 | Fresh fruits and melons 2/..........................| 103.4 92.8 89.7 -3.1 -3.3 -7.2 -13.3 -3.3 01-13 | Fresh and dry vegetables 2/.........................| 107.2 176.9 217.0 42.1 22.7 20.2 22.2 22.7 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 86.6 74.5 92.6 5.0 24.3 21.8 -10.8 17.7 02-11 | Bakery products 2/..................................| 189.1 189.7 189.6 1.7 -.1 .1 .4 -.1 02-13 | Milled rice 2/......................................| 84.1 82.3 81.9 -9.3 -.5 .1 -2.8 -.5 02-14-02 | Pasta products (June 1985=100) 2/...................| 122.2 122.2 122.3 .1 .1 0 0 .1 02-21-01 | Beef and veal 2/....................................| 111.7 120.0 121.0 -3.9 .8 -1.4 7.4 .8 02-21-04 | Pork................................................| 114.4 115.0 115.0 -2.0 0 -.6 0 -1.6 02-22-03 | Processed young chickens............................| 119.9 115.8 112.9 -.3 -2.5 3.6 0 -3.4 02-22-06 | Processed turkeys...................................| 107.9 94.6 96.6 1.8 2.1 .8 .1 -1.2 02-23 | Finfish and shellfish...............................| 181.5 202.1 184.2 -8.3 -8.9 3.2 10.1 -9.1 02-3 | Dairy products......................................| 145.4 139.8 138.1 -.4 -1.2 1.6 -.3 -1.4 02-4 | Processed fruits and vegetables 2/..................| 131.2 132.4 132.0 3.0 -.3 .2 .5 -.3 02-55 | Confectionery end products 2/.......................| 173.2 175.3 175.2 2.6 -.1 .6 .5 -.1 02-62 | Soft drinks.........................................| 149.7 151.5 151.9 2.1 .3 -.4 1.0 .1 02-63-01 | Roasted coffee 2/...................................| 123.4 123.3 123.5 -2.1 .2 -.1 0 .2 02-78 | Shortening and cooking oils 2/......................| 132.2 131.8 132.1 .5 .2 .1 -1.1 .2 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 137.0 135.4 137.2 -3.3 1.3 .1 0 1.7 | | 02-61 | Alcoholic beverages.................................| 146.3 146.5 146.9 1.3 .3 -.4 .1 .3 03-81-01 | Women's apparel 2/..................................| 123.6 122.4 121.4 -2.1 -.8 .2 -.2 -.8 03-81-02 | Men's and boys' apparel 2/..........................| 131.6 130.8 130.5 -1.7 -.2 -.5 .1 -.2 03-81-03 | Girls', children's, and infants' apparel 2/.........| 116.8 117.0 117.0 .5 0 0 0 0 03-82 | Textile housefurnishings 2/.........................| 123.2 122.0 122.0 -.2 0 -.5 -.1 0 04-3 | Footwear 2/.........................................| 145.8 146.0 145.8 0 -.1 .2 0 -.1 05-41 | Residential electric power (Dec. 1990=100)..........| 114.7 112.8 112.8 -.4 0 -1.4 -.3 -.1 05-51 | Residential gas (Dec. 1990=100).....................| 131.9 127.9 127.8 -27.8 -.1 1.7 -1.6 .8 05-71 | Gasoline............................................| 67.9 65.2 77.3 -14.7 18.6 3.4 4.5 21.3 05-73-02-01| Fuel oil No. 2......................................| 69.9 60.3 69.5 -17.0 15.3 4.9 2.8 19.7 06-38 | Pharmaceutical preparations (June 2001=100) 2/......| 100.2 101.0 101.2 (3) .2 .8 .4 .2 06-71 | Soaps and synthetic detergents 2/...................| 131.0 131.2 130.1 -.2 -.8 .2 0 -.8 06-75 | Cosmetics and other toilet preparations 2/..........| 138.3 138.5 139.8 .9 .9 .2 0 .9 07-12 | Tires, tubes, tread, etc 2/.........................| 95.6 94.7 95.7 1.8 1.1 -2.2 1.4 1.1 09-15-01 | Sanitary papers and health products 2/..............| 148.5 147.4 147.4 1.0 0 -1.1 -.9 0 09-31-01 | Newspaper circulation 2/............................| 223.0 223.6 223.7 2.5 0 .3 .3 0 09-32-01 | Periodical circulation..............................| 201.2 208.1 206.1 2.8 -1.0 1.8 1.2 -.8 09-33 | Book publishing.....................................| 228.5 227.4 234.5 4.8 3.1 1.5 -1.3 3.0 12-1 | Household furniture.................................| 155.6 156.4 156.8 1.6 .3 .3 .2 .1 12-3 | Floor coverings 2/..................................| 128.9 128.4 129.6 -.2 .9 1.7 -1.9 .9 12-4 | Household appliances ...............................| 105.0 104.6 104.7 -.9 .1 .1 -.6 .1 12-5 | Home electronic equipment 2/........................| 69.8 69.7 69.5 -2.4 -.3 -.3 .3 -.3 12-62 | Household glassware.................................| 169.9 169.8 171.5 1.6 1.0 0 -.1 .7 12-64 | Household flatware 2/...............................| 143.2 143.7 143.5 1.1 -.1 0 .3 -.1 12-66 | Lawn and garden equip., ex. tractors 2/.............| 133.0 131.3 132.1 -.5 .6 -.1 -.5 .6 14-11-01 | Passenger cars......................................| 132.0 131.0 130.2 -2.5 -.6 .7 -.2 -.4 15-11 | Toys, games, and children's vehicles 2/.............| 123.8 124.5 124.6 1.3 .1 .4 -.1 .1 15-12 | Sporting and athletic goods 2/......................| 126.4 126.1 125.5 -.6 -.5 1.0 .8 -.5 15-2 | Tobacco products 2/.................................| 455.3 448.1 448.7 5.1 .1 -1.7 0 .1 15-5 | Mobile homes 2/.....................................| 166.1 165.8 166.1 2.4 .2 -.3 -.1 .2 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 129.6 130.1 130.5 2.8 .3 .3 .1 .3 15-94-04 | Costume jewelry and novelties 2/....................| 144.0 144.0 144.0 -.1 0 0 0 0 | | | CAPITAL EQUIPMENT.....................................| 139.9 139.6 139.5 -.1 -.1 -.1 .1 .1 | | 11-1 | Agricultural machinery and equipment 2/.............| 157.4 156.6 157.4 1.4 .5 .1 .1 .5 11-2 | Construction machinery and equipment................| 149.3 149.2 149.3 .2 .1 0 .1 .1 11-37 | Metal cutting machine tools 2/......................| 154.9 153.9 153.3 -6.3 -.4 -.1 .1 -.4 11-38 | Metal forming machine tools 2/......................| 165.6 167.0 166.6 1.6 -.2 0 .8 -.2 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 141.2 140.6 140.8 .1 .1 -.1 -.3 .1 11-41 | Pumps, compressors, and equipment...................| 159.5 160.1 160.5 2.8 .2 .3 .3 .1 11-44 | Industrial material handling equipment 2/...........| 137.2 137.4 137.2 .7 -.1 0 0 -.1 11-51 | Electronic computers (Dec. 1998=100) 2/.............| 49.2 46.3 45.6 -25.9 -1.5 1.5 -4.1 -1.5 11-62 | Textile machinery 2/................................| 159.7 157.1 157.4 .3 .2 0 -1.7 .2 11-64 | Paper industries machinery (June 1982=100)..........| 167.5 167.7 168.2 1.2 .3 .1 -.1 .1 11-65 | Printing trades machinery 2/........................| 142.7 142.7 142.9 -.5 .1 -.2 -.2 .1 11-74 | Transformers and power regulators 2/................| 133.7 133.3 132.9 -1.6 -.3 .2 0 -.3 11-76 | Communication & related equip. (Dec. 1985=100) 2/...| 109.1 109.5 108.3 -1.8 -1.1 0 .5 -1.1 11-79-05 | X-ray and electromedical equipment 2/...............| 100.7 99.6 100.6 1.0 1.0 -.1 -1.1 1.0 11-91 | Oil field and gas field machinery ..................| 135.3 135.5 135.8 1.8 .2 -.9 -.1 .4 11-92 | Mining machinery and equipment 2/...................| 149.3 151.1 151.1 2.4 0 .2 .6 0 11-93 | Office and store machines and equipment 2/..........| 112.6 112.8 113.2 1.1 .4 -.2 -.1 .4 12-2 | Commercial furniture 2/.............................| 160.5 160.3 159.9 -.1 -.2 .1 -.1 -.2 14-11-05 | Light motor trucks..................................| 155.7 153.5 153.9 -.4 .3 -.6 .6 .8 14-11-06 | Heavy motor trucks 2/...............................| 148.9 150.3 151.7 3.5 .9 0 .5 .9 14-14 | Truck trailers 2/...................................| 138.9 138.1 137.6 -.9 -.4 .1 0 -.4 14-21-02 | Civilian aircraft (Dec. 1985=100)...................| 170.3 169.6 169.8 2.1 .1 -.4 0 .2 14-31 | Ships (Dec. 1985=100) 2/............................| 148.8 150.1 150.2 1.1 .1 0 .9 .1 14-4 | Railroad equipment 2/...............................| 134.5 134.4 134.4 -.7 0 -.3 .2 0 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 126.6 125.5 126.5 -3.2 .8 -.1 -.1 1.0 | | | INTERMEDIATE FOODS AND FEEDS..........................| 115.4 114.0 114.4 .2 .4 -.1 0 .2 | | 02-12-03 | Flour 2/............................................| 112.2 113.5 113.8 4.6 .3 3.5 0 .3 02-53 | Refined sugar 2/....................................| 111.4 115.9 116.5 6.7 .5 2.0 0 .5 02-54 | Confectionery materials 2/..........................| 108.7 112.7 112.3 6.4 -.4 1.8 -1.0 -.4 02-72 | Crude vegetable oils 2/.............................| 72.9 70.1 70.7 7.4 .9 1.9 -6.8 .9 02-9 | Prepared animal feeds 2/............................| 104.3 101.4 102.8 -1.3 1.4 -1.0 -1.2 1.4 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 127.2 126.2 127.1 -3.4 .7 -.1 -.1 1.0 | | 03-1 | Synthetic fibers 2/.................................| 107.2 106.0 106.1 -4.4 .1 -.5 -.2 .1 03-2 | Processed yarns and threads 2/......................| 102.7 102.2 102.1 -5.1 -.1 0 -.3 -.1 03-3 | Gray fabrics 2/.....................................| 112.6 110.1 111.1 -3.9 .9 -.2 -2.0 .9 03-4 | Finished fabrics....................................| 121.3 120.4 121.3 -1.3 .7 -.7 -.2 0 03-83-03 | Industrial textile products 2/......................| 133.2 133.3 133.5 1.6 .2 0 -.4 .2 04-2 | Leather 2/..........................................| 196.4 197.4 196.7 -1.6 -.4 1.5 1.9 -.4 05-32 | Liquefied petroleum gas 2/..........................| 83.2 82.4 102.0 -33.2 23.8 9.0 1.7 23.8 ____________________________________________________________________________________________________________________________________ See footnotes at end of table. Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing - Continued (1982=100 unless otherwise indicated) ____________________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | | Unadjusted index |change to |percent change from: Commodity | | |Mar. 2002 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Nov. |Feb. |Mar. | Mar. | Feb. |Dec. to|Jan. to|Feb. to | |2001 1/|2002 1/|2002 1/| 2001 | 2002 | Jan. | Feb. | Mar. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 137.5 133.5 134.3 -0.2 0.6 -0.7 -0.6 0.7 05-43 | Industrial electric power...........................| 137.3 139.1 135.2 -1.0 -2.8 -.6 -.2 -2.8 05-52 | Commercial natural gas (Dec. 1990=100)..............| 137.2 130.7 131.0 -32.3 .2 0 -1.5 2.8 05-53 | Industrial natural gas (Dec. 1990=100)..............| 138.1 132.0 133.2 -34.8 .9 2.7 -2.3 3.2 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 91.5 71.8 90.3 -53.1 25.8 -.9 -5.2 33.9 05-72-03 | Jet fuels...........................................| 64.8 57.6 61.3 -25.3 6.4 12.2 -7.3 13.1 05-73-03 | No. 2 Diesel fuel...................................| 71.3 59.8 69.4 -16.9 16.1 7.2 -1.1 24.1 05-74 | Residual fuel 2/....................................| 67.9 57.6 60.4 -22.7 4.9 -9.1 0 4.9 06-1 | Industrial chemicals 2/.............................| 122.2 120.6 125.4 -6.8 4.0 -1.2 1.7 4.0 06-21 | Prepared paint......................................| 164.8 166.3 167.3 2.0 .6 .7 -.6 .6 06-22 | Paint materials 2/..................................| 147.8 156.2 159.6 5.2 2.2 1.2 4.5 2.2 06-31 | Medicinal and botanical chemicals 2/................| 139.7 131.2 132.2 -8.2 .8 -6.1 -.1 .8 06-4 | Fats and oils, inedible.............................| 74.6 74.1 77.4 18.3 4.5 -10.4 9.7 11.0 06-51 | Mixed fertilizers...................................| 114.8 111.8 113.8 -3.4 1.8 -2.3 -1.3 1.2 06-52-01 | Nitrogenates........................................| 107.5 102.2 102.6 -44.2 .4 -4.0 -5.2 -1.4 06-52-02 | Phosphates 2/.......................................| 95.8 97.8 99.9 1.7 2.1 6.8 1.5 2.1 06-53 | Other agricultural chemicals 2/.....................| 148.9 148.3 149.4 1.2 .7 .1 -.3 .7 06-6 | Plastic resins and materials 2/.....................| 126.6 123.5 119.0 -15.8 -3.6 -4.1 2.8 -3.6 07-11-02 | Synthetic rubber 2/.................................| 120.1 118.2 118.0 -5.1 -.2 -.4 -.8 -.2 07-21 | Plastic construction products ......................| 131.5 130.4 130.0 -2.9 -.3 .2 -1.0 -.6 07-22 | Unsupported plastic film, sheet, & other shapes 2/..| 135.5 133.8 134.4 -3.7 .4 .4 -1.2 .4 07-26 | Plastic parts and components for manufacturing 2/...| 116.9 116.6 116.5 -.7 -.1 .2 -.3 -.1 08-11 | Softwood lumber 2/..................................| 163.5 173.4 178.1 7.5 2.7 6.9 1.2 2.7 08-12 | Hardwood lumber ....................................| 178.3 176.0 176.2 -4.6 .1 .6 -.8 -.1 08-2 | Millwork 2/.........................................| 179.5 179.2 179.5 1.0 .2 -.2 .2 .2 08-3 | Plywood 2/..........................................| 150.3 153.5 160.1 8.2 4.3 .2 3.4 4.3 09-11 | Woodpulp 2/.........................................| 113.5 116.6 113.9 -17.7 -2.3 1.7 1.9 -2.3 09-13 | Paper 2/............................................| 146.9 144.6 144.5 -5.5 -.1 -.6 -1.0 -.1 09-14 | Paperboard 2/.......................................| 166.8 163.9 162.8 -7.4 -.7 -1.0 -.7 -.7 09-15-03 | Paper boxes and containers 2/.......................| 174.2 173.1 172.1 -1.8 -.6 -.1 -.5 -.6 09-2 | Building paper and board 2/.........................| 125.2 126.6 132.7 4.4 4.8 -.8 1.7 4.8 09-37 | Commercial printing (June 1982=100) 2/..............| 157.4 156.9 156.1 -.8 -.5 0 -.1 -.5 10-15 | Foundry and forge shop products.....................| 136.9 136.9 136.8 -.1 -.1 -.3 -.1 -.1 10-17 | Steel mill products 2/..............................| 99.6 97.9 99.6 -2.9 1.7 -.6 -.3 1.7 10-22 | Primary nonferrous metals 2/........................| 97.1 101.6 103.3 -7.3 1.7 2.4 -.4 1.7 10-25-01 | Aluminum mill shapes 2/.............................| 145.2 145.3 145.7 -3.3 .3 .1 .1 .3 10-25-02 | Copper and brass mill shapes 2/.....................| 149.3 150.7 152.9 -5.0 1.5 -.1 .1 1.5 10-26 | Nonferrous wire and cable 2/........................| 137.3 135.9 135.4 -5.1 -.4 -.6 -1.5 -.4 10-3 | Metal containers 2/.................................| 106.1 108.9 108.9 3.0 0 .6 1.9 0 10-4 | Hardware 2/.........................................| 155.4 156.2 156.4 2.2 .1 .5 -.2 .1 10-5 | Plumbing fixtures and brass fittings................| 181.2 181.9 181.8 0 -.1 -.3 .3 -.1 10-6 | Heating equipment 2/................................| 157.3 157.4 158.1 1.0 .4 -.3 .1 .4 10-7 | Fabricated structural metal products................| 144.3 144.0 144.0 -.8 0 -.3 0 -.2 10-88 | Fabricated ferrous wire products (June 1982=100) 2/.| 129.5 128.9 129.0 -.8 .1 -.7 .1 .1 10-89 | Other misc. metal products 2/.......................| 127.0 126.9 126.9 .1 0 -.2 .1 0 11-45 | Mechanical power transmission equipment.............| 167.5 169.3 169.5 1.6 .1 0 .1 .1 11-48 | Air conditioning and refrigeration equipment 2/.....| 136.1 136.7 136.4 .4 -.2 .1 .4 -.2 11-49-02 | Metal valves, ex.fluid power (Dec. 1982=100) 2/.....| 165.3 166.3 167.0 1.3 .4 .7 .2 .4 11-49-05 | Ball and roller bearings............................| 169.4 170.0 170.1 .4 .1 -.3 .4 .2 11-71 | Wiring devices 2/...................................| 153.2 152.9 153.1 -.6 .1 .1 .6 .1 11-73 | Motors, generators, motor generator sets............| 146.4 146.7 146.7 -.2 0 -.1 .1 -.1 11-75 | Switchgear, switchboard, etc., equipment............| 157.5 158.5 158.7 1.9 .1 .3 .2 .3 11-78 | Electronic components and accessories 2/............| 92.6 93.8 93.7 -1.5 -.1 1.1 -.4 -.1 11-94 | Internal combustion engines.........................| 144.2 144.2 144.2 .3 0 0 .1 0 11-95 | Machine shop products 2/............................| 139.6 139.6 139.8 -.2 .1 .1 -.7 .1 13-11 | Flat glass 2/.......................................| 111.8 111.2 110.8 -.8 -.4 -.4 .2 -.4 13-22 | Cement..............................................| 150.6 150.1 149.4 .4 -.5 -.3 .1 -.1 13-3 | Concrete products...................................| 152.9 153.5 152.0 .9 -1.0 .1 -.1 -1.0 13-6 | Asphalt felts and coatings..........................| 110.3 110.1 109.0 4.2 -1.0 .5 0 -.8 13-7 | Gypsum products 2/..................................| 171.1 167.0 161.1 .6 -3.5 -1.4 1.8 -3.5 13-8 | Glass containers 2/.................................| 133.2 134.8 134.9 1.9 .1 1.7 -.4 .1 14-12 | Motor vehicle parts 2/..............................| 113.2 113.2 113.4 -.1 .2 .4 .3 .2 14-23 | Aircraft engines & engine parts (Dec. 1985=100).....| 145.3 146.6 146.6 1.2 0 -1.2 .8 0 14-25 | Aircraft parts & aux.equip.,nec (June 1985=100).....| 151.4 150.4 150.1 1.5 -.2 1.3 0 .1 15-42 | Photographic supplies 2/............................| 129.3 130.0 129.6 2.8 -.3 .6 -.1 -.3 15-6 | Medical/surgical/personal aid devices 2/............| 149.2 150.2 150.3 1.8 .1 .3 .1 .1 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 102.1 97.6 102.3 -22.6 4.8 3.7 -.8 4.0 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 98.5 102.3 102.9 -5.7 .6 4.0 2.3 -1.3 | | 01-21 | Wheat 2/............................................| 86.0 84.9 83.8 -5.9 -1.3 1.2 -2.1 -1.3 01-22-02-05| Corn................................................| 77.5 79.2 80.0 -2.0 1.0 -4.5 -.4 -3.5 01-31 | Slaughter cattle 2/.................................| 94.6 108.4 111.6 -5.9 3.0 4.3 9.6 3.0 01-32 | Slaughter hogs......................................| 55.2 62.3 61.0 -19.6 -2.1 26.4 -6.8 -11.2 01-41-02 | Slaughter broilers/fryers...........................| 139.0 127.9 126.5 -8.5 -1.1 5.6 -.1 -3.1 01-42 | Slaughter turkeys...................................| 126.2 96.0 95.9 -8.2 -.1 10.4 -3.2 -5.9 01-6 | Fluid milk 2/.......................................| 108.0 100.1 94.8 -8.5 -5.3 -2.1 .6 -5.3 01-83-01-31| Soybeans 2/.........................................| 74.7 73.8 76.8 .8 4.1 1.2 -.9 4.1 02-52-01-01| Cane sugar,raw 2/...................................| 111.3 109.4 105.8 -5.4 -3.3 -1.0 -2.1 -3.3 | | | CRUDE NONFOOD MATERIALS..............................| 100.8 90.4 98.3 -31.4 8.7 3.2 -3.4 8.6 | | 01-51-01-01| Raw cotton 2/.......................................| 53.9 55.9 54.4 -33.0 -2.7 .2 2.8 -2.7 01-92-01-01| Leaf tobacco 2/.....................................| 116.1 111.1 81.7 -23.6 -26.5 -1.2 -2.4 -26.5 04-19 | Hides and skins (June 2001=100) 2/..................| 75.6 71.3 75.7 (3) 6.2 -.6 -.1 6.2 05-1 | Coal 2/.............................................| 101.4 97.6 102.2 7.9 4.7 3.2 -1.6 4.7 05-31 | Natural gas 2/......................................| 114.0 77.7 93.0 -56.9 19.7 4.9 -20.7 19.7 05-61 | Crude petroleum 2/..................................| 51.3 52.8 61.3 -16.1 16.1 8.1 13.3 16.1 08-5 | Logs, timber, etc...................................| 179.1 175.0 179.3 -2.6 2.5 -3.5 -.5 2.5 09-12 | Wastepaper 2/.......................................| 141.9 140.0 137.0 -15.7 -2.1 .1 -1.4 -2.1 10-11 | Iron ore 2/.........................................| 96.3 95.0 95.2 -1.1 .2 -1.3 0 .2 10-12 | Iron and steel scrap................................| 110.6 119.9 122.9 2.2 2.5 .7 5.2 2.5 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 61.2 67.1 65.2 .6 -2.8 4.9 7.4 -2.8 10-23-01 | Copper base scrap 2/................................| 105.7 107.5 108.8 -10.7 1.2 1.0 1.3 1.2 10-23-02 | Aluminum base scrap.................................| 142.0 151.7 156.2 -7.4 3.0 .7 -.7 2.8 13-21 | Construction sand, gravel, and crushed stone........| 169.5 171.4 171.6 2.3 .1 -.2 .4 0 ____________________________________________________________________________________________________________________________________ 1/ The indexes for November 2001 have been recalculated to incorporate 2/ Not seasonally adjusted. late reports and corrections by respondents. All indexes are subject 3/ Not available. to revision 4 months after original publication. Table 3. Producer price indexes for selected commodity groupings (1982=100 unless otherwise indicated) _______________________________________________________________________________________________ | | | | | Unadjusted index 1/ | Commodity| |___________________________________| code | Grouping | Nov. 2001 | Feb. 2002 |March 2002 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 388.1 | 386.5 | 389.7 | | All commodities................................| 129.8 | 128.6 | 129.9 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 123.7 | 125.4 | 126.0 | 01 | Farm products................................| 97.3 | 102.0 | 104.2 | 02 | Processed foods and feeds....................| 136.7 | 136.9 | 136.7 | | | | | | | Industrial commodities.........................| 130.9 | 129.2 | 130.6 | 03 | Textile products and apparel.................| 120.6 | 119.7 | 119.8 | 04 | Hides, skins, leather, and related products..| 154.2 | 153.5 | 154.7 | 05 | Fuels and related products and power.........| 89.1 | 82.9 | 87.9 | 06 | Chemicals and allied products 2/.............| 148.4 | 147.8 | 149.1 | 07 | Rubber and plastic products..................| 126.7 | 125.5 | 125.7 | 08 | Lumber and wood products.....................| 171.5 | 172.9 | 175.4 | 09 | Pulp, paper, and allied products.............| 183.9 | 184.6 | 184.4 | 10 | Metals and metal products....................| 123.6 | 123.9 | 124.4 | 11 | Machinery and equipment......................| 123.3 | 123.5 | 123.4 | 12 | Furniture and household durables.............| 133.1 | 133.0 | 133.2 | 13 | Nonmetallic mineral products.................| 145.4 | 145.5 | 144.8 | 14 | Transportation equipment.....................| 145.7 | 145.3 | 145.4 | 15 | Miscellaneous products.......................| 183.3 | 182.4 | 181.5 | | | | | | | Industrial commodities less fuels and related | | | | | products and power...........................| 142.3 | 142.2 | 142.5 | | | | | | | | | | | | OTHER COMMODITY GROUPINGS | | | | | | | | | 01-1 | Fruits and melons, fresh and dry vegetables, | | | | | and tree nuts................................| 110.3 | 133.5 | 148.6 | 01-2 | Grains.........................................| 80.3 | 81.0 | 81.3 | 01-3 | Slaughter livestock............................| 84.3 | 96.4 | 98.4 | 01-4 | Slaughter poultry..............................| 134.5 | 119.9 | 118.8 | 01-5 | Plant and animal fibers........................| 54.2 | 56.6 | 55.2 | 01-7 | Chicken eggs...................................| 103.3 | 85.0 | 102.4 | 01-8 | Hay, hayseeds, and oilseeds....................| 105.2 | 102.7 | 105.2 | 01-83 | Oilseeds.......................................| 86.5 | 85.7 | 88.7 | 01-9 | Other farm products............................| 173.1 | 165.7 | 121.9 | 02-1 | Cereal and bakery products.....................| 163.2 | 163.6 | 163.8 | 02-2 | Meats, poultry, and fish.......................| 121.6 | 124.1 | 123.1 | 02-22 | Processed poultry..............................| 120.0 | 115.5 | 114.1 | 02-5 | Sugar and confectionery........................| 137.9 | 140.6 | 140.4 | 02-6 | Beverages and beverage materials...............| 146.9 | 147.8 | 148.2 | 02-63 | Packaged beverage materials....................| 124.2 | 124.1 | 124.3 | 02-7 | Fats and oils..................................| 106.6 | 105.9 | 106.4 | 03-81 | Apparel........................................| 126.6 | 125.8 | 125.3 | 04-4 | Other leather and related products.............| 148.1 | 148.3 | 148.7 | 05-3 | Gas fuels......................................| 104.6 | 78.2 | 94.6 | 05-4 | Electric power.................................| 135.9 | 134.1 | 133.4 | 05-7 | Refined petroleum products.....................| 68.3 | 62.8 | 72.3 | 06-3 | Drugs and pharmaceuticals......................| 262.8 | 263.2 | 263.5 | 06-5 | Agricultural chemicals and products............| 123.2 | 122.1 | 123.5 | 06-7 | Other chemicals and allied products............| 139.6 | 139.8 | 139.8 | 07-1 | Rubber and rubber products.....................| 116.9 | 116.4 | 116.7 | 07-11 | Rubber, except natural rubber..................| 119.4 | 117.5 | 117.4 | 07-13 | Miscellaneous rubber products..................| 139.9 | 140.4 | 140.1 | 07-2 | Plastic products...............................| 134.6 | 133.0 | 133.2 | 08-1 | Lumber.........................................| 166.1 | 171.4 | 174.5 | 09-1 | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 155.1 | 153.8 | 153.1 | 09-15 | Converted paper and paperboard products........| 164.1 | 163.3 | 162.7 | 10-1 | Iron and steel.................................| 107.6 | 107.2 | 108.7 | 10-2 | Nonferrous metals..............................| 118.6 | 120.2 | 120.6 | 10-25 | Nonferrous mill shapes.........................| 137.9 | 138.1 | 138.9 | 11-3 | Metalworking machinery and equipment...........| 150.4 | 150.3 | 150.4 | 11-4 | General purpose machinery and equipment........| 153.2 | 153.9 | 154.0 | 11-6 | Special industry machinery.....................| 165.1 | 164.7 | 164.8 | 11-7 | Electrical machinery and equipment.............| 116.7 | 117.4 | 117.1 | 11-9 | Miscellaneous machinery and equipment..........| 135.8 | 135.9 | 136.2 | 12-6 | Other household durable goods..................| 157.6 | 157.0 | 157.9 | 13-2 | Concrete ingredients...........................| 159.7 | 160.6 | 160.5 | 14-1 | Motor vehicles and equipment...................| 131.7 | 131.0 | 131.0 | 15-1 | Toys, sporting goods, small arms, etc..........| 133.5 | 134.0 | 133.5 | 15-4 | Photographic equipment and supplies............| 111.6 | 111.6 | 111.4 | 15-9 | Other miscellaneous products...................| 139.1 | 139.3 | 139.0 | __________________________________________________________|___________|___________|___________| 1/ Data for November 2001 have been revised to reflect the availability of late reports and corrections by respondents. All data are subject to revision 4 months after original publication. 2/ Prices of some items in this grouping are lagged 1 month. Table 4. Producer price indexes for the net output of major industry groups, not seasonally adjusted __________________________________________________________________________________________________________________ | | | Index | Percent change Industry | Industry 1/ |Index|_______________________|to_Mar._2002_from: code | |base | | | | | | | |Nov. |Feb. |Mar. | Mar. | Feb. | | |2001 2/|2002 2/|2002 2/| 2001 | 2002 __________________|______________________________________________|_____|_______|_______|_______|________|_________ | | | |Total mining industries...................... |12/84| 88.3 77.9 86.0 -34.5 10.4 10 | Metal mining................................ |12/84| 68.9 73.8 71.8 .4 -2.7 12 | Coal mining................................. |12/85| 95.4 91.8 95.3 6.5 3.8 13 | Oil and gas extraction...................... |12/85| 92.0 78.0 90.2 -40.0 15.6 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 141.6 143.0 143.1 1.9 .1 | | | |Total manufacturing industries............... |12/84| 132.7 132.0 132.9 -1.2 .7 20 | Food and kindred products................... |12/84| 132.4 132.2 132.3 .4 .1 21 | Tobacco manufactures........................ |12/84| 398.3 391.8 392.1 5.3 .1 22 | Textile mill products....................... |12/84| 116.3 115.2 115.5 -1.5 .3 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 125.6 125.3 125.5 -.3 .2 24 | Lumber and wood products, except furniture.. |12/84| 154.0 154.9 156.9 1.4 1.3 25 | Furniture and fixtures...................... |12/84| 145.5 145.8 145.9 .8 .1 26 | Paper and allied products................... |12/84| 144.6 143.4 142.8 -2.9 -.4 27 | Printing, publishing, and allied industries. |12/84| 189.7 192.3 192.3 2.3 0 28 | Chemicals and allied products............... |12/84| 155.4 154.5 154.8 -4.2 .2 29 | Petroleum refining and related products..... |12/84| 86.3 79.6 89.0 -16.5 11.8 30 | Rubber and miscellaneous plastic products... |12/84| 125.6 124.5 124.8 -1.0 .2 31 | Leather and leather products................ |12/84| 140.9 140.8 140.7 -.3 -.1 32 | Stone, clay, glass, and concrete products... |12/84| 136.9 136.8 136.2 .4 -.4 33 | Primary metal industries.................... |12/84| 114.2 113.5 114.4 -2.6 .8 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 131.1 131.3 131.4 .5 .1 35 | Machinery, except electrical................ |12/84| 117.9 117.4 117.7 -.2 .3 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 106.5 107.1 106.8 -.7 -.3 37 | Transportation equipment.................... |12/84| 138.3 137.8 137.9 .1 .1 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 127.8 128.4 128.4 1.2 0 39 | Miscellaneous manufacturing industries...... |12/85| 132.6 132.9 132.9 .6 0 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 105.7 106.6 106.3 2.2 -0.3 42 | Motor freight transportation and warehousing |06/93| 123.4 123.3 123.2 .5 -.1 43 | United States Postal Service................ |06/89| 145.4 145.4 145.4 2.9 0 44 | Water transportation........................ |12/92| 130.2 129.5 128.7 1.7 -.6 45 | Transportation by air....................... |12/92| 156.8 159.0 164.4 5.2 3.4 46 | Pipe lines, except natural gas.............. |12/86| 112.0 111.3 111.3 2.2 0 54 | Food stores................................. |12/99| 111.2 112.2 112.4 3.7 .2 59 | Miscellaneous retail........................ |06/00| 99.8 101.7 101.1 -1.2 -.6 80 | Health services............................. |12/94| 117.4 117.8 117.9 1.9 .1 81 | Legal services.............................. |12/96| 118.7 120.4 120.7 3.0 .2 __________________________________________________________________________________________________________________ 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 2001 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. Table 5. Producer price indexes by stage of processing, seasonally adjusted (1982=100) _____________________________________________________________________________________________________________ | | Index 1/ |_____________________________________________________ Grouping | | | | | | | Oct. | Nov. | Dec. | Jan. | Feb. | Mar. | 2001 | 2001 | 2001 | 2002 | 2002 | 2002 _______________________________________________________|________|________|________|________|________|________ | Finished goods...................................| 139.2 138.3 137.6 137.8 138.1 139.5 Finished consumer goods........................| 139.6 138.4 137.5 137.8 138.3 140.1 Finished consumer foods......................| 142.1 140.9 140.7 141.8 143.2 144.1 Crude......................................| 121.2 122.9 127.6 138.2 145.3 159.9 Processed..................................| 143.8 142.3 141.7 142.0 143.0 142.6 Finished consumer goods, excluding foods.....| 138.4 137.1 135.9 136.0 136.0 138.3 Nondurable goods less foods................| 138.9 137.1 135.4 135.5 135.6 138.7 Durable goods..............................| 133.2 133.1 133.2 133.5 133.3 133.7 Capital equipment..............................| 139.5 139.4 139.4 139.3 139.4 139.5 Manufacturing industries.....................| 140.3 140.3 140.3 140.0 140.2 140.2 Nonmanufacturing industries..................| 139.1 139.0 139.0 139.0 139.0 139.1 | Intermediate materials, supplies, and components.| 127.6 126.7 125.8 125.7 125.6 126.9 Materials and components for manufacturing.....| 126.0 125.4 124.8 124.6 124.8 125.3 Materials for food manufacturing.............| 126.3 124.2 122.9 123.3 123.9 123.5 Materials for nondurable manufacturing.......| 128.5 127.3 126.4 124.9 125.6 126.6 Materials for durable manufacturing..........| 123.3 122.8 122.6 122.7 122.7 123.6 Components for manufacturing.................| 126.3 126.3 126.1 126.5 126.4 126.5 Materials and components for construction......| 150.3 150.3 150.1 150.4 150.3 150.4 Processed fuels and lubricants.................| 97.3 94.2 91.2 90.8 90.2 94.9 Manufacturing industries ....................| 101.3 97.7 97.3 96.0 95.4 97.1 Nonmanufacturing industries..................| 94.7 92.0 87.5 87.8 87.0 93.7 Containers.....................................| 152.5 152.3 152.2 152.5 152.3 151.6 Supplies.......................................| 138.5 138.3 138.2 138.3 138.1 138.3 Manufacturing industries.....................| 145.0 144.9 144.8 144.9 144.5 144.3 Nonmanufacturing industries..................| 135.6 135.5 135.3 135.5 135.3 135.7 Feeds......................................| 97.7 96.2 95.6 94.4 93.1 94.6 Other supplies.............................| 140.3 140.3 140.1 140.4 140.4 140.6 | Crude materials for further processing...........| 98.1 102.9 95.5 99.0 98.2 102.1 Foodstuffs and feedstuffs......................| 105.0 99.9 97.8 101.7 104.0 102.7 Nonfood materials..............................| 89.9 101.3 90.6 93.5 90.3 98.1 Nonfood materials except fuel 2/.............| 91.9 88.1 82.4 84.2 88.4 92.9 Manufacturing 2/...........................| 84.1 80.4 75.0 76.7 80.7 84.9 Construction...............................| 181.8 180.9 180.4 178.2 177.9 179.4 Crude fuel 3/................................| 79.9 111.2 94.5 99.0 83.4 96.2 Manufacturing industries...................| 77.6 107.9 92.4 96.8 82.2 94.3 Nonmanufacturing industries................| 81.5 113.5 96.4 101.0 85.0 98.0 | Special groupings | | Finished goods, excluding foods..................| 138.3 137.4 136.6 136.6 136.6 138.1 Intermediate materials less foods and feeds......| 128.2 127.3 126.5 126.4 126.3 127.6 Intermediate foods and feeds.....................| 117.5 115.6 114.5 114.4 114.4 114.6 Crude materials less agricultural products 2/....| 90.4 102.0 90.9 94.0 90.7 99.3 | Finished energy goods............................| 89.4 85.9 83.1 83.2 83.5 88.1 Finished goods less energy.......................| 147.7 147.5 147.4 147.6 148.0 148.3 Finished consumer goods less energy..............| 151.2 150.9 150.8 151.1 151.6 152.1 | Finished goods less foods and energy.............| 150.0 150.1 150.1 150.0 150.0 150.2 Finished consumer goods less foods and energy....| 157.0 157.3 157.3 157.2 157.0 157.3 Consumer nondurable goods less foods and energy..| 176.0 176.7 176.4 176.1 175.9 176.1 | Intermediate energy goods........................| 97.0 93.9 90.9 90.4 89.8 94.5 Intermediate materials less energy...............| 134.2 133.8 133.5 133.4 133.5 133.8 Intermediate materials less foods and energy.....| 135.3 135.0 134.7 134.7 134.7 135.1 | Crude energy materials 2/........................| 75.4 90.4 76.7 81.0 75.7 87.2 Crude materials less energy......................| 110.3 106.5 104.7 107.5 109.6 108.5 Crude nonfood materials less energy 3/...........| 126.8 126.4 125.7 125.1 127.0 126.1 ____________________________________________________________________________________________________________ 1/ All seasonally adjusted indexes are subject to change up to 5 years after original publication due to the recalculation of seasonal factors each January. The indexes for November 2001 have been recalculated to incorporate late reports and corrections by respondents. 2/ Includes crude petroleum. 3/ Excludes crude petroleum. Technical Note Brief Explanation of Producer Price Indexes The term Producer Price Index (PPI) refers to a family of indexes that measure the average change over time in the selling prices received by domestic producers of goods and services. PPIs measure price change from the perspective of the seller. This contrasts with other measures, such as the Consumer Price Index (CPI); CPIs measure price change from the purchaser's perspective. Sellers' and purchasers' prices may differ due to government subsidies, sales and excise taxes, and distribution costs. More than 10,000 PPIs for individual products and groups of products are released each month. PPIs are available for the products of virtually every industry in the mining and manufacturing sectors of the U.S. economy. New PPIs are gradually being introduced for the products of industries in the transportation, utilities, trade, finance, and services sectors of the economy. More than 100,000 price quotations per month are organized into three sets of producer price indexes: (1) stage-of-processing indexes; (2) commodity indexes; and (3) indexes for the net output of industries and their products. The stage-of-processing structure (tables 1, 2, and 5) organizes products by class of buyer and degree of fabrication. The commodity structure (tables 2 and 3) organizes products by similarity of end-use or material composition. The entire output of various industries is sampled to derive price indexes for the net output of industries and their products (table 4). Within the stage-of-processing system, finished goods are commodities that will not undergo further processing and are ready for sale to the final demand user, either an individual consumer or business firm. Consumer foods include unprocessed foods such as eggs and fresh vegetables, as well as processed foods such as bakery products and meats. Other finished consumer goods include durable goods such as automobiles, household furniture, and appliances; and nondurable goods such as apparel and home heating oil. Capital equipment includes producer durable goods such as heavy motor trucks, tractors, and machine tools. The stage-of-processing category for intermediate materials, supplies, and components consists partly of commodities that have been processed but require further processing. Examples of such semifinished goods include flour, cotton yarn, steel mill products, and lumber. The intermediate goods category also encompasses nondurable physically complete items purchased by business firms as inputs for their operations. Examples include diesel fuel, belts and belting, paper boxes, and fertilizers. Crude materials for further processing are products entering the market for the first time that have not been manufactured or fabricated and that are not sold directly to consumers. Crude foodstuffs and feedstuffs include items such as grains and livestock. Examples of crude nonfood materials include raw cotton, crude petroleum, coal, hides and skins, and iron and steel scrap. Producer price indexes for the net output of industries and their products are grouped according to the Standard Industrial Classification (SIC). Industry price indexes are compatible with other economic time series organized by SIC codes, such as data on employment, wages, and productivity. Table 4 lists indexes for the net output of major mining and manufacturing industry groups at the 2-digit level. Producer price indexes are based on selling prices reported by establishments of all sizes selected by probability sampling, with the probability of selection proportionate to size. Individual items and transaction terms from these firms are also chosen by probability proportionate to size. BLS strongly encourages cooperating companies to supply actual transaction prices at the time of shipment to minimize the use of list prices. Prices are normally reported by mail questionnaire for the Tuesday of the week containing the 13th. Price data are provided on a voluntary and confidential basis; no one but sworn BLS employees are allowed access to individual company price reports. The Bureau publishes price indexes instead of unit dollar prices. All producer price indexes are routinely subject to revision once, 4 months after original publication, to reflect the availability of late reports and corrections by respondents. The BLS periodically updates the PPI sample of survey respondents to better reflect current conditions when the structure, membership, technology, or product mix of an industry shifts significantly and to spread reporting burden among smaller firms. Results of these resampling efforts are incorporated into the PPI every January and July. As part of an ongoing effort to expand coverage to sectors of the economy other than mining and manufacturing, an increasing number of service sector industries have been introduced into the PPI. The following list of recently introduced service industries includes the month in which an article describing the industry's content appeared in the PPI Detailed Report: PPI Detailed Industry SIC Report Issue Wireless Telecommunications 4812 July 1999 Telephone Communications, Except Radio Telephone 4813 July 1995 Grocery Stores 5411 July 2000 Meat and Fish (Seafood) Markets, 5421 July 2000 Fruit and Vegetable Markets 5431 July 2000 Candy, Nut, and Confectionery Stores 5441 July 2000 Retail Bakeries 5461 July 2000 Miscellaneous Food Stores 5499 July 2000 New Car Dealers 5511 July 2000 Gasoline Service Stations 5541 January 2002 Boat Dealers 5551 January 2002 Recreational Vehicle Dealers 5561 January 2002 Miscellaneous Retail 59 January 2001 Security Brokers, Dealers, and Investment Bankers 6211 January 2001 Life Insurance Carriers 6311 January 1999 Property and Casualty Insurance 6331 July 1998 Operators and Lessors of Nonresidential Buildings 6512 January 1996 Real Estate Agents and Managers 6531 January 1996 Prepackaged Software 7372 January 1998 Data Processing Services 7374 January 2002 Home Health Care Services 8082 January 1997 Legal Services 8111 January 1997 Engineering, Design, Analysis, and Consulting Services 8711 January 1997 Architectural, Design, Analysis, and Consulting Services 8712 January 1997 Premiums for Property and Casualty Insurance 9331 July 1998 Weights for most traditional commodity groupings of the PPI, as well as all indexes (such as stage-of-processing indexes) calculated from traditional commodity groupings, currently reflect 1992 values of shipments as reported in the Census of Manufactures and other sources. From January 1992 through December 1995, PPI weights were derived from 1987 shipment values. Industry indexes shown in table 4 are also now calculated with 1992 net output weights. This periodic update of the value weights used to calculate the PPI is done to more accurately reflect changes in production and marketing patterns in the economy. Net output values of shipments are used as weights for industry indexes. Net output values refer to the value of shipments from establishments in one industry to establishments classified in another industry. However, weights for commodity price indexes are based on gross shipment values, including shipment values between establishments within the same industry. As a result, broad commodity grouping indexes such as the all commodities index are affected by the multiple counting of price change at successive stages of processing, which can lead to exaggerated or misleading signals about inflation. Stage-of-processing indexes partially correct this defect, but industry indexes consistently correct for this at all levels of aggregation. Therefore, industry and stage-of-processing indexes are more appropriate than broad commodity groupings for economic analysis of general price trends. Effective with publication of January 1988 data, many important PPI series (including stage-of-processing groupings and most commodity groups and individual items) were placed on a new reference base, 1982=100. From 1971 through 1987, the standard reference base for most PPI series was 1967=100. Except for rounding differences, the shift to the new reference base did not alter any changes to previously published percent changes for affected PPI series. (See "Calculating Index Changes," below.) The new reference base is not used for indexes with a base later than December 1981, nor for indexes for the net output of industries and their products. For further information on the underlying concepts and methodology of the Producer Price Index, see chapter 14, "Producer Prices," in BLS Handbook of Methods (April 1997), Bulletin 2490. Reprints are available from the Bureau of Labor Statistics on request. Calculating Index Changes Each index measures price changes from a reference period which equals 100.0 (1982 or some later month). An increase of 5.5 percent from the reference period in the Finished Goods Price Index, for example, is shown as 105.5. This change can also be expressed in dollars as follows: "Prices received by domestic producers of a systematic sample of finished goods have risen from $100 in 1982 to $105.50 today." Likewise, a current index of 90.0 would indicate that prices received by producers of finished goods today are 10 percent lower than they were in 1982. Movements of price indexes from one month to another are usually expressed as percent changes rather than as changes in index points because index point changes are affected by the level of the index in relation to its base period, whereas percent changes are not. The example below shows the computation of index point and percent changes. Index point change Finished Goods Price Index 107.5 Less previous index 104.0 Equals index point change 3.5 Index percent change Index point change 3.5 Divided by the previous index 104.0 Equals 0.034 Result multiplied by 100 0.034 x 100 Equals percent change 3.4 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.