FOR DATA ONLY: (202) 606-7828 USDL 97-282 FOR TECHNICAL INFORMATION: TRANSMISSION OF MATERIAL IN (202) 606-7705 THIS RELEASE IS EMBARGOED MEDIA CONTACT: (202) 606-5902 UNTIL 8:30 A.M. (E.D.T), WEDNESDAY, http://stats.bls.gov/ppihome.htm AUGUST 13, 1997 Producer Price Indexes -- July 1997 The Producer Price Index for Finished Goods decreased 0.1 percent in July, seasonally adjusted, the Bureau of Labor Statistics of the U. S. Department of Labor reported today. This followed drops of 0.1 percent in June and 0.3 percent in May and is the seventh consecutive monthly decline in the index. Prices received by domestic producers of intermediate goods decreased in July after showing no change in the previous month. The Crude Goods Price Index fell 0.1 percent after declining 3.3 percent in June. (See table A.) Table A. Monthly and annual percent changes in selected stage-of- processing price indexes, seasonally adjusted Finish ed goods Change in Except finished Inter- goods foods from 12 mediateCrude and months Month Total Foods Energy energy ago goods goods (unadj.) 1996 July 0.0 0.1 0.4 0.0 2.6 -0.2 2.2 Aug. 0.3 0.7 0.6 0.1 3.0 0.2 0.6 Sept. 0.3 0.4 0.7 0.1 3.0 0.4 -2.6 Oct. 0.4 0.8 1.7 -0.1 3.1 -0.2 -0.7 Nov. 0.2 0 0.9 0 3.0 -0.2 2.7 Dec. 0.5 -0.2 3.3 0.1 2.8 0.5 6.2 1997 Jan. -0.3 -1.0 -0.2 0 2.5 0.2 3.8 Feb. -0.3 -0.4 -1.2 -0.1 2.2 -0.2 -8.3 Mar. -0.2 r0.8 r-3.1 r0.1 r1.5 -0.4 r-7.7 Apr. r-0.5 -0.4 r-2.7 -0.1 0.8 -0.3 r1.6 May -0.3 0.4 -2.1 -0.3 0.3 -0.2 1.3 June -0.1 -0.9 0.7 0.1 -0.1 0 -3.3 July -0.1 -0.2 0.1 -0.1 -0.2 -0.2 -0.1 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for March 1997 have been recalculated to incorporate the availability of late reports and corrections by respondents. -2- Among finished goods in July, price decreases for finished consumer goods other than foods and energy, finished consumer foods, and capital equipment outweighed increases for finished energy goods. The index for finished goods other than foods and energy turned down 0.1 percent following a 0.1-percent rise in June. Before seasonal adjustment, the Producer Price Index for Finished Goods decreased 0.2 percent in July to 131.3 (1982=100). From July 1996 to July 1997, the Finished Goods Price Index fell 0.2 percent. During this same period, consumer food prices moved up 0.1 percent, prices for finished energy goods fell 1.4 percent, and prices for finished goods other than foods and energy showed no change. Prices received by domestic producers of intermediate goods moved down 0.3 percent during the 12 months ended in June 1997, and crude material prices fell 7.3 percent over the same period. Finished goods The index for consumer goods other than foods and energy declined 0.1 percent after rising 0.1 percent in June. Prices for passenger cars turned down 1.6 percent after rising 0.3 percent in the prior month. The indexes for alcoholic beverages and floor coverings also fell after rising a month ago. Prices for sanitary paper products showed no change after rising in June. By contrast, the index for book publishing rose 0.1 percent following a 1.1-percent decline in the prior month. Prices for men's and boys' apparel also turned up after falling in June. The index for women's apparel rose more than a month ago. Table B. Monthly and annual percent changes in selected price indexes for intermediate goods and crude goods, seasonally adjusted Interm Crude ediate goods goods Change in Change in intermedi crude ate Exclud goods Excludi goods ing from ng foods 12 months Energy foods from 12 and ago and months ago Month Foods Energy energy (unadj.) Foods (unadj energy (unadj.) .) 1996 July 0.4 0.0 -0.3 -0.1 1.7 5.4 -1.6 13.2 Aug. 0.3 0.8 0.1 0.1 -0.6 2.4 0.5 15.4 Sept. 0.8 1.1 0.2 0.6 -3.5 -3.3 0.5 10.1 Oct. -2.0 1.3 -0.2 0.5 -3.1 2.1 -0.1 9.4 Nov. -3.2 -0.2 0.1 0.5 -2.5 11.1 -0.2 10.6 Dec. -0.6 2.9 0.1 0.7 -2.7 19.3 0 14.7 1997 Jan. -0.5 0.6 0.1 0.9 -1.2 8.9 2.3 16.1 Feb. -0.1 -0.8 0.1 1.1 -1.4 -17.9 1.1 4.5 Mar. r1.8 r-3.8 0 0.6 r2.0 r-21.3 r0.3 r-2.2 Apr. r0.6 r-2.4 0 -0.1 r3.2 r2.1 r-2.5 -4.8 May 0.5 -1.9 0 -0.7 -0.3 3.4 1.2 -4.6 June -1.4 0.6 0.1 -0.4 -5.4 -2.9 0.4 -5.4 July -1.2 -1.1 0 -0.3 0.3 -0.4 -0.5 -7.3 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for March 1997 have been recalculated to incorporate the availability of late reports and corrections by respondents. -3- Prices for finished consumer foods fell 0.2 percent in July following a 0.9-percent decline in the prior month. The index for eggs for fresh use turned up 21.7 percent after decreasing 8.6 percent in the previous month. Prices for pork, processed young chickens, and for fresh and dry vegetables also rose after falling a month earlier. The index for fresh fruits and melons declined less than in June. On the other hand, prices for roasted coffee decreased 0.4 percent following a 3.8-percent gain a month ago. The index for processed turkeys also turned down after rising in the prior month. Prices for dairy products decreased more than in June. The index for capital equipment fell 0.1 percent after rising 0.1 percent in the previous month. Prices for light motor trucks dropped 0.8 percent following a 0.3-percent decline in June. The indexes for electronic computers and railroad equipment fell after rising in the prior month. Conversely, the index for civilian aircraft increased 0.4 percent following a 0.1 percent gain in June. Prices for x-ray equipment and for transformers and power regulators turned up after falling in the prior month. The Producer Price Index for finished energy goods rose 0.1 percent in July following a 0.7-percent gain in June. Prices for unleaded regular gasoline advanced 1.7 percent after increasing 3.5 percent a month ago. The index for residential natural gas also rose less than in the prior month. Prices for residential electric power remained unchanged after increasing 0.2 percent in the previous month. By contrast, the index for home heating oil fell 3.4 percent after declining 5.8 percent in June. Prices for finished lubricants rose more than a month ago. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components declined 0.2 percent in July, seasonally adjusted, after showing no change in June. The indexes for intermediate energy goods and durable manufacturing materials decreased after increasing a month earlier. By contrast, prices for nondurable manufacturing materials rose after showing no change in the prior month. The index for construction materials rose after falling in the previous month. Prices for intermediate foods and feeds fell less than a month ago. Excluding foods and energy, the intermediate materials index was unchanged for July after rising slightly in June. (See table B.) The index for intermediate energy goods declined 1.1 percent following a 0.6-percent advance in the previous month. Prices for commercial electric power decreased 1.8 percent after a 1.2-percent increase in June. The indexes for jet fuels, residual fuels, and liquefied petroleum gas turned down after rising a month ago. Prices for No. 2 diesel fuel fell more than in the prior month. By contrast, the index for industrial electric power advanced 0.7 percent following a 0.6-percent decline in June. Prices for coke oven products increased more than last month. The index for natural gas to electric utilities turned up after falling a month earlier. The index for durable manufacturing materials declined 0.6 percent following a 0.3-percent advance in the previous month. Prices for copper cathode and refined copper decreased 9.7 percent after a 4.0-percent increase in June. The indexes for copper and brass mill shapes and aluminum mill shapes fell after rising in the prior month. The index for hot rolled sheet and strip moved down after showing no change a month ago. Prices for plywood rose less than a month earlier. By contrast, the index for semifinished steel mill products advanced 2.6 percent after showing no change in June. Prices for hot rolled bars, plates, and structural shapes rose more than in the previous month. The index for cement turned up after falling a month ago. -4- The index for nondurable manufacturing materials advanced 0.2 percent after showing no change in the previous month. Prices for basic organic chemicals increased 0.8 percent following a 0.6-percent decrease in June. The indexes for paper, fertilizer materials, and woodpulp rose more than a month ago. Prices for medicinal and botanical chemicals turned up after falling in the prior month. By contrast, the index for paperboard advanced 0.2 percent following a 0.7-percent advance in June. Prices for inedible fats and oils and plastic resins and materials decreased after increasing a month ago. The index for basic inorganic chemicals rose less than in the previous month. The index for construction materials advanced 0.1 percent following a 0.1-percent decline in the previous month. Prices for softwood lumber decreased 0.1 percent after a 2.7-percent decrease in June. The index for plastic construction materials showed no change after falling a month ago. The indexes for fabricated structural metal products and fabricated ferrous wire products rose after showing no change a month earlier. Prices for millwork, cement, and air conditioning and refrigeration equipment advanced after declining in the prior month. By contrast, the index for plywood increased 0.1 percent following a 2.7-percent increase in June. Prices for nonferrous wire and cable and asphalt felts and coatings turned down after rising a month earlier. The index for gypsum products fell more than in the prior month. The index for intermediate foods and feeds declined 1.2 percent following a 1.4-percent decline in the previous month. Prices for pork increased 1.2 percent after a 3.4-percent decrease in June. The indexes for prepared animal feeds and fluid milk products fell less than a month ago. By contrast, the index for refined sugar declined 2.9 percent following a 0.1-percent advance in June. Prices for flour fell more than in the previous month. The index for butter decreased after increasing a month ago. Crude Goods The Producer Price Index for Crude Materials for Further Processing decreased 0.1 percent, seasonally adjusted, following a 3.3-percent decrease in June. Prices for crude foodstuffs and feedstuffs rose after falling in the prior month. The index for crude energy materials fell less than a month ago. Prices for basic industrial materials fell after rising in June. (See table B.) Prices for crude foodstuffs and feedstuffs gained 0.3 percent following a 5.4-percent decrease in June. Prices for slaughter cattle rose 2.8 percent following a 6.9-percent decline in the prior month. The indexes for slaughter hogs and corn also rose after falling in the previous month. Prices for slaughter broilers and fryers rose more than in June. By contrast, prices for wheat fell 10.4 percent after decreasing 4.4 percent a month ago. The index for fluid milk fell more than in June. Prices for fresh vegetables, except potatoes, rose less than in the prior month. The index for crude energy materials dropped 0.4 percent in July, led by declines of 2.4-percent for natural gas and 5.0 percent for coal. The July decrease in the crude energy materials index follows a 2.9-percent decline in the prior month. This slowing rate of decline was led by an upturn in prices for crude petroleum. By contrast, the indexes for coal and natural gas turned down after rising in June. The index for crude nonfood materials less energy fell 0.5 percent following a 0.4-percent increase in June. Prices for copper ores turned down 7.6 percent after rising 11.9 percent in the prior month. The index for copper base scrap also decreased after increasing in June. Prices for gold ores fell more than in the previous month. By contrast, raw cotton moved up 8.4 percent after rising 0.7 percent in the prior month. Prices for iron and steel scrap also increased more than in the previous month. The index for softwood logs, bolts, and timber turned up after falling a month ago. -5- Net output price indexes for mining, manufacturing, and other industries Mining. The Producer Price Index for the net output of total domestic mining industries fell 0.3 percent in July following a decline of 1.8 percent in June. (Net output price indexes are not seasonally adjusted.). In July, prices for the oil and gas extraction industry group increased 0.5 percent following a 3.0-percent decrease in the previous month. By contrast, the index for the nonmetallic minerals mining industry group increased 0.2 percent after a 0.4-percent rise a month ago. Prices for the coal mining industry group turned down 2.8 percent following a 1.3-percent gain last month. Similarly, the index for the metal mining industry group fell 4.8 percent after increasing 3.4 percent in the prior month. In July, the Producer Price Index for total mining industries stood at 79.5 (December 1984=100), 1.9 percent lower than a year earlier. Manufacturing. The Producer Price Index for the net output of total domestic manufacturing industries fell 0.2 percent in July, following a similar decrease in June. In July, price declines for the industry groups for petroleum refining and related products, transportation equipment, primary metal industries, textile mill products, and non-electrical machinery offset price increases for measuring and controlling instruments, chemicals and allied products, furniture and fixtures, lumber and wood products, and for the rubber and miscellaneous plastic products industry groups. In July, the Producer Price Index for the net output of total manufacturing industries stood at 127.0 (December 1984=100), 0.1 percent below its level a year ago. Other. Among other industries in July, the indexes for hotels and motels, scheduled air transportation, travel agencies, and for offices and clinics of doctors of medicine turned down after rising in June. Prices for scrap and waste materials collection, crude petroleum pipelines, and for general warehousing and storage decreased after showing no change a month ago. The indexes for real estate agents and managers, tugging and towing services, non-local trucking, passenger car rental (without drivers), cable and other pay TV services, railroad line-haul operations, building cleaning and maintenance services, home health care services, and for architectural design, analysis, and consulting services rose less than in June. Prices for radio broadcasting, truck rental and leasing, and water transportation of freight fell more than a month earlier. The indexes for legal services, help supply services, farm product warehousing and storage, and for refrigerated warehousing and storage showed no change in July after increasing in the previous month. By contrast, the indexes for freight transportation arrangement, airports and airport services, non-psychiatric specialty hospitals, telephone communications (except radiotelephone), and local trucking without storage turned up in July after falling in June. Prices for psychiatric hospitals, employment agencies, and air courier services showed no change after declining a month ago. The indexes for marine cargo handling, refined petroleum pipelines, freight transportation on the Great Lakes-St. Lawrence Seaway, nonscheduled air transportation, general medical and surgical hospitals, and for engineering design, analysis, and consulting services increased after showing no change in the prior month. Prices for advertising agencies, skilled and intermediate care facilities, medical laboratories, and for accounting, auditing, and bookkeeping services rose more than last month. The indexes for operators and lessors of nonresidential buildings and for deep sea domestic transportation of freight fell less than in June. ***** Producer Price Index data for August 1997 will be released on Friday, September 12, at 8:30 a.m. (E.D.T.) ***** Information in this news release will be made available to sensory impaired individuals upon request. Voice phone: 202-606-7828; TDD phone: 202-606- 5897; TDD Message Referral phone: 1-800-326-2577. -6- Resampling of Industries Effective with this release, another set of resampled industries is introduced. Two (2) mining industries, twenty-five (25) manufacturing industries, and one (1) service industry were resampled this month. Indexes for these industries appear in table 5 of the PPI Detailed Report. Under the resampling procedure, the sample for an industry is updated to reflect more accurately the current structure, membership, technology, or product mix. The Bureau of Labor Statistics published the first results of this systematic process in July 1986. Subsequent efforts have been completed at 6-month intervals. Standard Industrial Classification (SIC) Code Industry 1459 Clay and related materials, not elsewhere classified 1479 Chemical and fertilizer mineral mining, not elsewhere classified 2037 Frozen fruits and vegetables 2091 Canned and cured seafoods 2431 Millwork 2514 Metal household furniture 2541 Wood partitions and fixtures 2678 Stationery products 2741 Miscellaneous publishing 2891 Adhesives and sealants 2899 Chemicals and chemical preparations, not elsewhere classified 3053 Gaskets, packing, and sealing devices 3271 Concrete block and brick 3273 Ready-mixed concrete 3312 Blast furnaces and steel mills 3315 Steel wire and related products - made from purchased materials 3316 Cold finishing of steel shapes - made from purchased materials 3317 Steel pipe and tubes - made from purchased materials 3341 Secondary nonferrous metals 3442 Metal doors, sash, and trim 3471 Metal plating and polishing 3479 Metal coating and allied services 3585 Refrigeration and heating equipment 3599 Machinery, except electrical, not elsewhere classified 3629 Electrical industrial apparatus, not elsewhere classified 3843 Dental equipment and supplies 3851 Ophthalmic goods 4424 Domestic deep sea transportation of freight For information on specific additions, deletions, and recodes of indexes that are effective this month, see tables of sample changes in the July 1997 issue of the Producer Price Index Detailed Report. 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| |July 1997 from:| | |_______________________|_______________|_______________________________ | Dec. | | | | | | | | | Mar. |June |July | July | June |Apr. to| May to |June to | 1996 1/|1997 2/|1997 2/|1997 2/| 1996 | 1997 | May | June | July _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|____________ | Finished goods...................................| 100.000 132.1 131.6 131.3 -0.2 -0.2 -0.3 -0.1 -0.1 Finished consumer goods........................| 76.423 130.4 130.1 129.7 -.2 -.3 -.4 0 -.2 Finished consumer foods......................| 23.644 135.2 134.0 134.0 .1 0 .4 -.9 -.2 Crude......................................| 1.639 140.4 115.5 115.2 -6.9 -.3 3.1 -6.5 -1.7 Processed..................................| 22.005 134.8 135.3 135.3 .5 0 .3 -.5 -.1 Finished consumer goods, excluding foods.....| 52.779 128.2 128.2 127.7 -.2 -.4 -.8 .3 -.1 Nondurable goods less foods................| 36.392 123.8 124.4 124.1 .1 -.2 -.8 .5 .1 Durable goods..............................| 16.387 135.0 133.5 132.5 -1.0 -.7 -.6 0 -.5 Capital equipment..............................| 23.577 138.8 138.1 137.9 -.1 -.1 -.2 .1 -.1 Manufacturing industries.....................| 6.028 137.9 137.6 137.5 .3 -.1 -.1 .1 0 Nonmanufacturing industries..................| 17.549 139.0 138.1 137.9 -.4 -.1 -.3 .1 -.1 | Intermediate materials, supplies, and components.| 100.000 125.6 125.7 125.5 -.3 -.2 -.2 0 -.2 Materials and components for manufacturing.....| 49.031 128.6 128.3 128.3 0 0 0 .1 -.1 Materials for food manufacturing.............| 3.318 124.1 122.8 122.3 -4.8 -.4 -.3 -.9 -.6 Materials for nondurable manufacturing.......| 15.610 129.4 129.1 129.4 0 .2 .2 0 .2 Materials for durable manufacturing..........| 10.965 133.4 133.8 133.1 1.8 -.5 .2 .3 -.6 Components for manufacturing.................| 19.138 126.7 126.4 126.5 -.2 .1 -.2 0 .1 Materials and components for construction......| 12.691 146.2 147.1 147.1 2.4 0 .4 -.1 .1 Processed fuels and lubricants.................| 13.665 88.7 89.6 88.5 -2.9 -1.2 -2.1 .8 -1.1 Manufacturing industries ....................| 5.415 91.0 91.4 91.2 -2.4 -.2 -2.0 0 -.1 Nonmanufacturing industries..................| 8.250 87.2 88.5 86.8 -3.1 -1.9 -2.1 1.2 -1.7 Containers.....................................| 3.527 136.0 134.2 133.9 -4.1 -.2 .1 -.4 -.3 Supplies.......................................| 21.086 135.8 135.9 135.9 -.4 0 .1 -.2 0 Manufacturing industries.....................| 7.535 138.8 138.9 139.3 .3 .3 0 -.1 .3 Nonmanufacturing industries..................| 13.551 134.3 134.4 134.1 -.7 -.2 .2 -.3 -.1 Feeds......................................| 1.607 132.9 133.6 130.7 -5.6 -2.2 2.0 -2.3 -2.4 Other supplies.............................| 11.944 134.5 134.5 134.6 0 .1 -.1 .1 .1 | Crude materials for further processing...........| 100.000 107.6 107.2 107.2 -7.3 0 1.3 -3.3 -.1 Foodstuffs and feedstuffs......................| 38.004 114.1 111.5 112.1 -14.4 .5 -.3 -5.4 .3 Nonfood materials..............................| 61.996 99.4 100.5 100.0 -1.2 -.5 2.5 -1.6 -.5 Nonfood materials except fuel 3/.............| 36.095 104.0 101.3 101.4 -1.2 .1 1.4 -3.4 .2 Manufacturing 3/...........................| 32.588 95.5 92.6 92.7 -1.9 .1 1.6 -4.0 .2 Construction...............................| 3.507 202.0 202.6 203.1 5.2 .2 .6 0 .2 Crude fuel 4/................................| 25.901 82.1 89.7 88.2 -1.1 -1.7 4.9 2.3 -1.7 Manufacturing industries...................| 5.258 81.4 88.0 86.8 -.9 -1.4 4.5 1.9 -1.4 Nonmanufacturing industries................| 20.643 83.3 91.3 89.7 -1.2 -1.8 5.1 2.4 -1.8 | Special groupings | | Finished goods, excluding foods..................|5/ 76.356 131.1 130.9 130.4 -.3 -.4 -.5 .2 -.1 Intermediate materials less foods and feeds......|6/ 95.065 125.6 125.7 125.5 -.1 -.2 -.2 .2 -.2 Intermediate foods and feeds.....................|6/ 4.935 127.2 126.5 125.2 -5.1 -1.0 .5 -1.4 -1.2 Crude materials less agricultural products 3/ 7/.|8/ 59.898 98.6 99.8 99.3 -1.3 -.5 2.6 -1.7 -.7 | Finished energy goods............................|5/ 14.720 83.0 83.6 83.0 -1.4 -.7 -2.1 .7 .1 Finished goods less energy.......................|5/ 85.280 140.7 139.9 139.7 .1 -.1 -.1 -.1 -.1 Finished consumer goods less energy..............|5/ 61.703 141.4 140.6 140.4 .1 -.1 0 -.2 -.2 | Finished goods less foods and energy.............|5/ 61.636 142.8 142.3 141.9 0 -.3 -.3 .1 -.1 Finished consumer goods less foods and energy....|5/ 38.059 145.3 144.9 144.5 .1 -.3 -.3 .1 -.1 Consumer nondurable goods less foods and energy..|5/ 21.672 152.7 153.2 153.2 .9 0 -.1 .3 0 | Intermediate energy goods........................|6/ 13.796 88.5 89.3 88.2 -3.0 -1.2 -1.9 .6 -1.1 Intermediate materials less energy...............|6/ 86.204 133.8 133.7 133.7 .1 0 .1 -.1 0 Intermediate materials less foods and energy.....|6/ 81.269 134.2 134.2 134.2 .4 0 0 .1 0 | Crude energy materials 3/........................|8/ 42.427 77.1 79.0 78.7 -3.8 -.4 3.4 -2.9 -.4 Crude materials less energy......................|8/ 57.573 125.7 123.4 123.5 -9.1 .1 .2 -3.4 0 Crude nonfood materials less energy 4/...........|8/ 19.569 159.6 158.1 157.0 3.0 -.7 1.2 .4 -.5 | ____________________________________________________________________________________________________________________________________ 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 March 1997 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 four 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 | | |July 1997 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Mar. |June |July | July | June |Apr. to| May to|June to | |1997 1/|1997 1/|1997 1/| 1996 | 1997 | May | June | July ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 132.1 131.6 131.3 -0.2 -0.2 -0.3 -0.1 -0.1 | FINISHED CONSUMER GOODS...............................| 130.4 130.1 129.7 -.2 -.3 -.4 0 -.2 | FINISHED CONSUMER FOODS..............................| 135.2 134.0 134.0 .1 0 .4 -.9 -.2 | | 01-11 | Fresh fruits and melons 2/..........................| 108.1 91.1 82.3 -14.1 -9.7 7.9 -15.6 -9.7 01-13 | Fresh and dry vegetables 2/.........................| 139.7 108.8 112.1 -15.3 3.0 .1 -2.2 3.0 01-71-07 | Eggs for fresh use (Dec. 1991=100) 2/...............| 98.8 79.4 96.6 1.6 21.7 -.8 -8.6 21.7 02-11 | Bakery products 2/..................................| 173.0 173.5 173.9 2.2 .2 .3 0 .2 02-13 | Milled rice 2/......................................| 128.3 127.5 126.5 -4.7 -.8 -.7 -.1 -.8 02-14-02 | Pasta products (June 1985=100) 2/...................| 126.8 126.7 123.4 -2.4 -2.6 .1 .2 -2.6 02-21-01 | Beef and veal.......................................| 105.2 102.1 100.9 1.8 -1.2 1.8 -1.5 -1.3 02-21-04 | Pork................................................| 119.5 128.7 130.9 4.4 1.7 3.2 -3.4 1.2 02-22-03 | Processed young chickens............................| 118.9 117.5 119.9 -5.0 2.0 -1.5 -2.4 2.2 02-22-06 | Processed turkeys 2/................................| 98.6 104.1 102.9 -4.2 -1.2 2.2 .3 -1.2 02-23 | Finfish and shellfish...............................| 187.1 173.1 168.7 3.0 -2.5 7.9 -3.2 -2.5 02-3 | Dairy products......................................| 128.4 125.3 124.5 -7.5 -.6 -1.5 -1.1 -1.3 02-4 | Processed fruits and vegetables 2/..................| 127.3 126.3 126.6 -1.2 .2 -.3 -.4 .2 02-55 | Confectionery end products 2/.......................| 168.4 168.4 168.7 .8 .2 .2 -.3 .2 02-62 | Soft drinks.........................................| 133.5 133.4 133.2 .1 -.1 -.4 -.1 .2 02-63-01 | Roasted coffee 2/...................................| 142.9 166.5 165.9 30.3 -.4 5.8 3.8 -.4 02-76 | Shortening and cooking oils 2/......................| 137.2 136.6 141.4 1.4 3.5 1.4 -.4 3.5 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 128.2 128.2 127.7 -.2 -.4 -.8 .3 -.1 | | 02-61 | Alcoholic beverages.................................| 135.8 135.8 135.4 1.7 -.3 -.2 .5 -.1 03-81-01 | Women's apparel 2/..................................| 120.2 119.9 120.2 0 .3 .2 .1 .3 03-81-02 | Men's and boys' apparel.............................| 132.7 132.4 132.7 .2 .2 .2 -.1 .2 03-81-03 | Girls', children's, and infants' apparel 2/.........| 124.0 124.4 124.3 2.1 -.1 -.1 .1 -.1 03-82 | Textile housefurnishings 2/.........................| 122.3 122.4 122.2 -.9 -.2 0 .2 -.2 04-3 | Footwear............................................| 143.5 143.8 143.9 1.6 .1 .3 .1 .1 05-41 | Residential electric power (Dec. 1990=100)..........| 110.5 116.6 116.9 .1 .3 0 .2 0 05-51 | Residential gas (Dec. 1990=100).....................| 116.2 112.1 112.5 1.7 .4 -1.3 1.8 .6 05-71 | Gasoline............................................| 73.5 71.3 69.4 -5.7 -2.7 -7.1 .4 -1.0 05-73-02-01| Fuel oil No. 2......................................| 64.0 60.9 58.8 -6.1 -3.4 2.2 -5.8 -3.4 06-35 | Pharmaceutical preps, ethical (Prescription)........| 271.9 273.4 273.3 2.3 0 .4 .1 0 06-36 | Pharmaceutical preps,proprietary (Over-counter).....| 187.4 188.2 188.2 2.7 0 .3 .2 .2 06-71 | Soaps and synthetic detergents 2/...................| 126.1 126.5 126.3 .8 -.2 -.1 0 -.2 06-75 | Cosmetics and other toilet preparations 2/..........| 130.5 130.9 130.9 .5 0 .2 0 0 07-12 | Tires, tubes, tread, etc 2/.........................| 95.6 95.1 95.0 -1.3 -.1 -.6 -.7 -.1 09-15-01 | Sanitary papers and health products 2/..............| 148.1 146.6 146.6 -1.5 0 -1.2 2.5 0 09-31-01 | Newspaper circulation...............................| 201.9 202.5 202.7 1.6 .1 -.2 .6 -.3 09-32-01 | Periodical circulation..............................| 187.0 187.3 188.0 4.0 .4 -.5 .5 .5 09-33 | Book publishing 2/..................................| 198.9 198.2 198.3 3.0 .1 .1 -1.1 .1 12-1 | Household furniture 2/..............................| 145.9 146.1 146.3 1.2 .1 0 .1 .1 12-3 | Floor coverings 2/..................................| 129.0 128.9 125.9 -.7 -2.3 .2 .4 -2.3 12-4 | Household appliances 2/.............................| 111.1 110.5 109.8 -2.8 -.6 .1 -.3 -.6 12-5 | Home electronic equipment 2/........................| 78.2 78.3 78.3 -1.1 0 0 0 0 12-62 | Household glassware 2/..............................| 159.8 161.9 161.9 2.6 0 1.2 -.1 0 12-64 | Household flatware 2/...............................| 138.6 138.6 137.8 .1 -.6 0 0 -.6 12-66 | Lawn and garden equip., ex. tractors 2/.............| 132.9 132.9 132.2 -.2 -.5 0 0 -.5 14-11-01 | Passenger cars......................................| 136.3 132.6 130.1 -3.0 -1.9 -1.6 .3 -1.6 15-11 | Toys, games, and children's vehicles................| 125.3 125.2 125.1 -.2 -.1 -.2 0 .1 15-12 | Sporting and athletic goods 2/......................| 124.6 124.1 125.0 1.1 .7 -.2 .4 .7 15-2 | Tobacco products 2/.................................| 241.4 248.5 248.4 3.5 0 .4 .1 0 15-5 | Mobile homes 2/.....................................| 151.3 151.9 151.8 1.1 -.1 -.1 .1 -.1 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 128.5 128.5 128.0 -.9 -.4 -.1 0 -.4 15-94-04 | Costume jewelry and novelties 2/....................| 139.8 139.8 140.3 2.4 .4 0 0 .4 | | | CAPITAL EQUIPMENT.....................................| 138.8 138.1 137.9 -.1 -.1 -.2 .1 -.1 | | 11-1 | Agricultural machinery and equipment 2/.............| 148.9 147.4 148.0 1.2 .4 -.1 0 .4 11-2 | Construction machinery and equipment................| 141.9 142.3 142.1 1.5 -.1 .1 .1 -.1 11-37 | Metal cutting machine tools 2/......................| 154.7 155.7 156.4 2.4 .4 .5 .1 .4 11-38 | Metal forming machine tools 2/......................| 152.5 153.3 154.2 2.7 .6 .4 .1 .6 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 137.7 138.0 138.3 1.3 .2 .2 0 .2 11-41 | Pumps, compressors, and equipment...................| 145.8 146.9 147.0 2.5 .1 .3 .6 .3 11-44 | Industrial material handling equipment 2/...........| 128.9 129.7 129.9 2.0 .2 .2 .1 .2 11-51 | Electronic computers (Dec. 1990=100) 2/.............| 36.0 33.3 32.7 -21.6 -1.8 -4.6 .6 -1.8 11-62 | Textile machinery 2/................................| 151.6 152.5 152.5 2.8 0 .8 0 0 11-64 | Paper industries machinery (June 1982=100)..........| 156.7 158.3 158.7 3.1 .3 .1 .7 .3 11-65 | Printing trades machinery 2/........................| 139.6 140.0 140.3 2.4 .2 -.5 .5 .2 11-74 | Transformers and power regulators 2/................| 129.8 127.6 130.6 1.6 2.4 -.1 -.5 2.4 11-76 | Communication & related equip. (Dec. 1985=100) 2/...| 113.4 114.1 114.6 1.5 .4 0 .4 .4 11-79-05 | X-ray and electromedical equipment 2/...............| 107.8 107.1 107.8 -1.7 .7 0 -.9 .7 11-91 | Oil field and gas field machinery 2/................| 122.1 122.7 122.6 3.9 -.1 -.1 .6 -.1 11-92 | Mining machinery and equipment 2/...................| 138.6 140.1 140.4 .7 .2 .6 -.3 .2 11-93 | Office and store machines and equipment 2/..........| 112.4 112.5 112.5 .7 0 0 0 0 12-2 | Commercial furniture 2/.............................| 153.2 153.6 154.2 1.6 .4 .2 -.1 .4 14-11-05 | Light motor trucks..................................| 161.6 159.0 157.1 -1.4 -1.2 -.5 -.3 -.8 14-11-06 | Heavy motor trucks..................................| 140.5 141.1 142.0 -2.3 .6 -.4 .6 .6 14-14 | Truck trailers 2/...................................| 130.3 130.4 129.8 -.6 -.5 0 0 -.5 14-21-02 | Civilian aircraft (Dec. 1985=100)...................| 149.7 149.6 150.3 2.0 .5 .4 .1 .4 14-31 | Ships (Dec. 1985=100) 2/............................| 142.6 141.3 143.0 3.2 1.2 -2.7 -.1 1.2 14-4 | Railroad equipment..................................| 132.2 132.7 132.2 -3.7 -.4 .7 .8 -.3 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 125.6 125.7 125.5 -.3 -.2 -.2 0 -.2 | | | INTERMEDIATE FOODS AND FEEDS..........................| 127.2 126.5 125.2 -5.1 -1.0 .5 -1.4 -1.2 | | 02-12-03 | Flour 2/............................................| 119.6 120.2 114.2 -19.4 -5.0 -.2 -2.6 -5.0 02-53 | Refined sugar 2/....................................| 126.2 124.5 120.9 -3.6 -2.9 -1.0 .1 -2.9 02-54 | Confectionery materials.............................| 108.0 107.6 108.0 1.1 .4 -.2 -.3 -.4 02-72 | Crude vegetable oils 2/.............................| 119.4 115.8 114.3 -3.7 -1.3 3.1 -1.8 -1.3 02-9 | Prepared animal feeds 2/............................| 136.1 136.8 134.5 -3.8 -1.7 1.7 -2.2 -1.7 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 125.6 125.7 125.5 -.1 -.2 -.2 .2 -.2 | | 03-1 | Synthetic fibers 2/.................................| 111.4 111.1 110.7 -.9 -.4 0 -.4 -.4 03-2 | Processed yarns and threads 2/......................| 114.4 114.0 114.0 -.4 0 -.5 .3 0 03-3 | Gray fabrics 2/.....................................| 121.6 121.9 122.0 .7 .1 .3 .1 .1 03-4 | Finished fabrics....................................| 123.6 123.8 123.8 .1 0 0 0 .1 03-83-03 | Industrial textile products 2/......................| 127.7 127.6 128.0 .5 .3 .1 0 .3 04-2 | Leather.............................................| 185.5 182.7 181.0 4.8 -.9 -2.7 -.5 -.8 05-32 | Liquefied petroleum gas 2/..........................| 86.0 76.2 73.3 -3.6 -3.8 -9.2 1.6 -3.8 ____________________________________________________________________________________________________________________________________ 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 | | |July 1997 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Mar. |June |July | July | June |Apr. to| May to|June to | |1997 1/|1997 1/|1997 1/| 1996 | 1997 | May | June | July ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 127.6 139.1 137.6 -1.1 -1.1 -1.3 1.2 -1.8 05-43 | Industrial electric power...........................| 128.2 133.2 134.8 -.9 1.2 -1.8 -.6 .7 05-52 | Commercial natural gas (Dec. 1990=100)..............| 110.3 103.5 103.8 2.6 .3 1.2 2.4 .8 05-53 | Industrial natural gas (Dec. 1990=100)..............| 107.3 99.3 100.2 2.2 .9 -1.2 .8 1.2 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 99.6 88.1 88.6 1.5 .6 7.2 -.3 1.2 05-72-03 | Jet fuels...........................................| 66.7 59.8 57.4 -7.4 -4.0 -6.2 3.1 -3.5 05-73-03 | No. 2 Diesel fuel...................................| 66.5 60.9 57.8 -12.6 -5.1 -2.7 -1.9 -5.0 05-74 | Residual fuel 2/....................................| 57.6 58.5 54.6 -11.2 -6.7 13.4 3.4 -6.7 06-1 | Industrial chemicals 2/.............................| 126.7 125.7 126.6 -.2 .7 -.5 -.2 .7 06-21 | Prepared paint......................................| 151.6 152.3 152.3 4.0 0 .1 .1 .2 06-22 | Paint materials 2/..................................| 139.7 141.6 140.4 -.5 -.8 1.7 -.4 -.8 06-31 | Medicinal and botanical chemicals 2/................| 132.2 132.3 133.4 3.3 .8 .1 -.1 .8 06-4 | Fats and oils, inedible 2/..........................| 132.5 127.5 124.4 -8.7 -2.4 5.1 4.3 -2.4 06-51 | Mixed fertilizers...................................| 113.7 113.6 113.7 -1.2 .1 .3 .1 .9 06-52-01 | Nitrogenates........................................| 140.9 136.4 133.7 8.8 -2.0 -.1 .1 .7 06-52-02 | Phosphates 2/.......................................| 112.1 109.7 108.9 -2.5 -.7 -.6 -1.6 -.7 06-53 | Other agricultural chemicals........................| 145.1 145.7 144.9 .4 -.5 1.3 .2 -.5 06-6 | Plastic resins and materials 2/.....................| 138.7 139.5 139.4 4.7 -.1 .1 .2 -.1 07-11-02 | Synthetic rubber 2/.................................| 120.7 119.2 118.4 -3.0 -.7 -.1 -.3 -.7 07-21 | Plastic construction products 2/....................| 127.4 128.3 128.3 -2.7 0 .6 -1.1 0 07-22 | Unsupported plastic film, sheet, & other shapes.....| 131.2 132.1 132.3 -.8 .2 .4 .3 .1 07-26 | Plastic parts and components for manufacturing 2/...| 117.4 117.1 117.2 -.3 .1 0 -.3 .1 08-11 | Softwood lumber 2/..................................| 210.5 211.8 211.6 10.4 -.1 1.3 -2.7 -.1 08-12 | Hardwood lumber 2/..................................| 171.2 173.8 175.4 7.5 .9 .6 .4 .9 08-2 | Millwork 2/.........................................| 170.4 171.1 171.4 2.6 .2 .2 -.1 .2 08-3 | Plywood 2/..........................................| 163.6 162.5 162.6 5.6 .1 -.4 2.7 .1 09-11 | Woodpulp 2/.........................................| 124.5 124.9 128.8 2.6 3.1 .6 1.9 3.1 09-13 | Paper 2/............................................| 140.8 143.0 144.3 -1.4 .9 .6 .4 .9 09-14 | Paperboard..........................................| 139.7 137.8 137.8 -6.9 0 1.2 .7 .2 09-15-03 | Paper boxes and containers 2/.......................| 144.6 141.1 140.6 -6.9 -.4 .1 -.9 -.4 09-2 | Building paper and board 2/.........................| 130.9 129.8 128.6 -6.4 -.9 -.8 .9 -.9 09-37 | Commercial printing (June 1982=100) 2/..............| 147.4 147.9 148.6 -.1 .5 -.1 .1 .5 10-15 | Foundry and forge shop products.....................| 134.3 134.1 134.3 1.2 .1 0 .1 .2 10-17 | Steel mill products 2/..............................| 116.1 116.4 116.5 .9 .1 -.1 .2 .1 10-22 | Primary nonferrous metals 2/........................| 130.3 132.2 125.2 2.3 -5.3 .5 1.9 -5.3 10-25-01 | Aluminum mill shapes 2/.............................| 147.6 148.2 147.3 1.1 -.6 -.5 1.4 -.6 10-25-02 | Copper and brass mill shapes 2/.....................| 183.5 186.8 181.8 5.5 -2.7 .2 2.4 -2.7 10-26 | Nonferrous wire and cable 2/........................| 149.4 151.0 149.9 2.7 -.7 .5 .1 -.7 10-3 | Metal containers 2/.................................| 108.2 107.6 107.8 -1.6 .2 -.1 -.2 .2 10-4 | Hardware............................................| 145.2 145.7 145.7 1.4 0 .1 .1 .1 10-5 | Plumbing fixtures and brass fittings................| 174.5 175.2 175.0 2.0 -.1 .2 .2 .2 10-6 | Heating equipment...................................| 152.0 152.5 153.1 1.1 .4 .1 .3 .5 10-7 | Fabricated structural metal products................| 139.2 140.3 140.6 1.9 .2 .4 0 .2 10-88 | Fabricated ferrous wire products (June 1982=100) 2/.| 127.3 127.3 127.6 .3 .2 0 0 .2 10-89 | Other misc. metal products 2/.......................| 126.2 126.1 126.2 .5 .1 0 -.1 .1 11-45 | Mechanical power transmission equipment.............| 154.5 154.9 154.8 2.2 -.1 .3 0 .1 11-48 | Air conditioning and refrigeration equipment........| 132.7 132.7 132.8 0 .1 .1 -.1 .1 11-49-02 | Metal valves, ex.fluid power (Dec. 1982=100) 2/.....| 152.1 153.8 154.2 2.9 .3 -.1 .5 .3 11-49-05 | Ball and roller bearings............................| 163.1 163.4 163.6 3.7 .1 .2 .1 0 11-71 | Wiring devices......................................| 152.8 154.8 154.9 2.2 .1 .4 .5 .3 11-73 | Motors, generators, motor generator sets............| 144.5 144.5 144.4 -1.2 -.1 .1 0 0 11-75 | Switchgear, switchboard, etc., equipment............| 144.8 145.5 145.6 2.5 .1 .3 .8 .3 11-78 | Electronic components and accessories 2/............| 105.8 104.6 104.8 -3.0 .2 -.9 0 .2 11-94 | Internal combustion engines.........................| 139.8 139.9 140.0 .6 .1 .1 .1 -.1 11-95 | Machine shop products 2/............................| 134.9 135.1 135.3 .9 .1 0 .1 .1 13-11 | Flat glass 2/.......................................| 108.2 108.2 108.1 -1.3 -.1 -.1 -.1 -.1 13-22 | Cement..............................................| 136.4 139.6 139.9 3.6 .2 -.4 -.1 .6 13-3 | Concrete products...................................| 135.4 136.2 136.3 2.0 .1 .6 .1 .1 13-6 | Asphalt felts and coatings 2/.......................| 99.4 101.0 100.7 1.0 -.3 .3 .5 -.3 13-7 | Gypsum products 2/..................................| 168.2 172.1 168.9 10.8 -1.9 1.9 -.9 -1.9 13-8 | Glass containers 2/.................................| 125.9 125.9 125.9 -2.9 0 0 0 0 14-12 | Motor vehicle parts 2/..............................| 115.7 115.4 115.4 -.8 0 0 .1 0 14-23 | Aircraft engines & engine parts (Dec. 1985=100).....| 137.6 135.4 135.4 .7 0 -1.9 -.1 .1 14-25 | Aircraft parts & aux.equip.,nec (June 1985=100) 2/..| 141.7 140.7 139.8 .6 -.6 .4 -.1 -.6 15-42 | Photographic supplies 2/............................| 129.3 127.3 127.3 -1.9 0 -1.2 -.4 0 15-6 | Medical/surgical/personal aid devices...............| 142.8 143.1 143.0 -.4 -.1 -.9 .2 -.2 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 107.6 107.2 107.2 -7.3 0 1.3 -3.3 -.1 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 114.1 111.5 112.1 -14.4 .5 -.3 -5.4 .3 | | 01-21 | Wheat 2/............................................| 113.2 110.1 98.7 -29.0 -10.4 -5.3 -4.4 -10.4 01-22-02-05| Corn................................................| 120.3 110.4 106.0 -49.5 -4.0 -3.1 -4.6 .6 01-31 | Slaughter cattle....................................| 100.5 94.4 96.4 1.0 2.1 .7 -6.9 2.8 01-32 | Slaughter hogs......................................| 79.8 95.6 100.1 3.5 4.7 2.3 -6.7 2.0 01-41-02 | Slaughter broilers/fryers...........................| 123.4 138.4 155.9 -3.1 12.6 -10.3 3.0 10.0 01-42 | Slaughter turkeys...................................| 99.4 119.4 120.6 -4.3 1.0 5.3 -1.1 -1.2 01-6 | Fluid milk..........................................| 98.7 93.2 90.7 -19.9 -2.7 -3.5 -3.3 -3.7 01-83-01-31| Soybeans............................................| 144.8 140.0 137.1 3.2 -2.1 5.1 -5.2 -3.0 02-52-01-01| Cane sugar,raw 2/...................................| 116.3 115.8 117.6 -.6 1.6 -.3 0 1.6 | | | CRUDE NONFOOD MATERIALS..............................| 99.4 100.5 100.0 -1.2 -.5 2.5 -1.6 -.5 | | 01-51-01-01| Raw cotton..........................................| 122.5 116.8 119.4 -7.3 2.2 1.2 .7 8.4 01-92-01-01| Leaf tobacco 2/.....................................| 111.7 (3) (3) (3) (3) (3) (3) (3) 04-11 | Cattle hides 2/.....................................| 211.7 197.9 180.1 -3.2 -9.0 -1.9 -4.8 -9.0 05-1 | Coal 2/.............................................| 96.7 97.7 92.8 -.5 -5.0 -6.4 3.0 -5.0 05-31 | Natural gas 2/......................................| 78.5 88.0 85.9 -1.6 -2.4 5.8 3.3 -2.4 05-61 | Crude petroleum 2/..................................| 56.3 51.7 54.9 -8.3 6.2 7.3 -14.1 6.2 08-5 | Logs, timber, etc. 2/...............................| 216.2 216.2 217.6 7.9 .6 .6 -.1 .6 09-12 | Wastepaper 2/.......................................| 155.9 163.4 163.0 20.8 -.2 6.9 -.8 -.2 10-11 | Iron ore 2/.........................................| 99.7 95.2 95.2 -1.6 0 -4.5 0 0 10-12 | Iron and steel scrap 2/.............................| 186.0 186.3 189.2 -.7 1.6 2.7 .7 1.6 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 87.8 88.9 83.5 -3.6 -6.1 1.7 4.7 -6.1 10-23-01 | Copper base scrap 2/................................| 167.7 174.1 160.6 1.7 -7.8 4.4 1.1 -7.8 10-23-02 | Aluminum base scrap.................................| 202.2 197.4 192.6 15.2 -2.4 4.8 -.9 -3.8 13-21 | Construction sand, gravel, and crushed stone........| 147.4 148.3 148.5 1.8 .1 .3 .1 0 ____________________________________________________________________________________________________________________________________ 1/ The indexes for March 1997 have been recalculated 2/ Not seasonally adjusted. to incorporate late reports and corrections by respondents. 3/ Not available. All indexes are subject to revision four months after original publication. Table 3. Producer Price Indexes for selected commodity groupings (1982=100 unless otherwise indicated) _______________________________________________________________________________________________ | | | | | Unadjusted index 1/ | Commodity| |___________________________________| code | Grouping |March 1997 | June 1997 | July 1997 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 370.7 | 369.4 | 368.5 | | All commodities................................| 127.3 | 127.2 | 126.9 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 128.4 | 126.9 | 126.7 | 01 | Farm products................................| 116.2 | 111.7 | 112.0 | 02 | Processed foods and feeds....................| 134.5 | 134.4 | 134.0 | | | | | | | Industrial commodities.........................| 127.1 | 127.2 | 127.0 | 03 | Textile products and apparel.................| 122.6 | 122.6 | 122.6 | 04 | Hides, skins, leather, and related products..| 156.8 | 154.6 | 151.7 | 05 | Fuels and related products and power 2/......| 83.4 | 84.4 | 83.6 | 06 | Chemicals and allied products 2/.............| 143.7 | 143.7 | 143.9 | 07 | Rubber and plastic products..................| 122.9 | 123.0 | 123.2 | 08 | Lumber and wood products.....................| 184.8 | 185.2 | 186.0 | 09 | Pulp, paper, and allied products.............| 166.5 | 166.4 | 166.7 | 10 | Metals and metal products....................| 132.2 | 132.7 | 131.9 | 11 | Machinery and equipment......................| 126.3 | 125.9 | 126.1 | 12 | Furniture and household durables.............| 131.0 | 131.1 | 130.7 | 13 | Nonmetallic mineral products.................| 132.6 | 133.4 | 133.3 | 14 | Transportation equipment.....................| 142.7 | 141.2 | 140.5 | 15 | Miscellaneous products.......................| 149.5 | 150.6 | 150.9 | | | | | | | Industrial commodities less fuels and related | | | | | products and power...........................| 139.3 | 139.1 | 139.0 | | | | | | | | | | | | OTHER COMMODITY GROUPINGS | | | | | | | | | 01-1 | Fruits and melons, fresh and dry vegetables, | | | | | and tree nuts................................| 127.2 | 105.0 | 101.2 | 01-2 | Grains.........................................| 119.3 | 112.4 | 105.9 | 01-3 | Slaughter livestock............................| 96.3 | 96.2 | 98.8 | 01-4 | Slaughter poultry..............................| 117.5 | 133.4 | 146.9 | 01-5 | Plant and animal fibers........................| 122.5 | 117.5 | 120.0 | 01-7 | Chicken eggs...................................| 119.7 | 97.4 | 117.7 | 01-8 | Hay, hayseeds, and oilseeds....................| 164.2 | 161.1 | 157.2 | 01-83 | Oilseeds.......................................| 154.3 | 149.8 | 146.6 | 01-9 | Other farm products............................| 166.6 | 'N.A.' | 'N.A.' | 02-1 | Cereal and bakery products.....................| 158.0 | 158.2 | 157.1 | 02-2 | Meats, poultry, and fish.......................| 119.5 | 119.2 | 119.2 | 02-22 | Processed poultry..............................| 117.4 | 117.4 | 118.5 | 02-5 | Sugar and confectionery........................| 138.6 | 138.2 | 137.8 | 02-6 | Beverages and beverage materials...............| 137.1 | 139.4 | 139.1 | 02-63 | Packaged beverage materials....................| 139.6 | 158.9 | 158.7 | 02-7 | Fats and oils..................................| 131.3 | 129.6 | 130.9 | 03-81 | Apparel........................................| 125.5 | 125.4 | 125.7 | 04-4 | Other leather and related products.............| 143.0 | 143.6 | 143.7 | 05-3 | Gas fuels 2/...................................| 79.5 | 83.8 | 81.5 | 05-4 | Electric power.................................| 128.4 | 136.3 | 136.3 | 05-7 | Refined petroleum products.....................| 69.5 | 66.5 | 64.5 | 06-3 | Drugs and pharmaceuticals......................| 218.6 | 219.5 | 219.8 | 06-5 | Agricultural chemicals and products............| 134.1 | 132.6 | 131.4 | 06-7 | Other chemicals and allied products............| 132.6 | 133.4 | 133.7 | 07-1 | Rubber and rubber products.....................| 116.0 | 115.8 | 115.6 | 07-11 | Rubber, except natural rubber..................| 120.1 | 118.6 | 117.7 | 07-13 | Miscellaneous rubber products..................| 137.5 | 138.0 | 138.0 | 07-2 | Plastic products...............................| 129.5 | 129.7 | 130.0 | 08-1 | Lumber.........................................| 196.4 | 198.1 | 198.4 | 09-1 | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 143.1 | 142.5 | 142.9 | 09-15 | Converted paper and paperboard products........| 148.7 | 146.7 | 146.4 | 10-1 | Iron and steel.................................| 126.2 | 126.2 | 126.6 | 10-2 | Nonferrous metals..............................| 139.7 | 140.5 | 136.9 | 10-25 | Nonferrous mill shapes.........................| 146.1 | 147.1 | 145.5 | 11-3 | Metalworking machinery and equipment...........| 144.7 | 145.3 | 145.5 | 11-4 | General purpose machinery and equipment........| 144.5 | 145.1 | 145.4 | 11-6 | Special industry machinery.....................| 156.3 | 156.8 | 156.8 | 11-7 | Electrical machinery and equipment.............| 122.7 | 122.6 | 122.9 | 11-9 | Miscellaneous machinery and equipment..........| 130.6 | 130.7 | 130.8 | 12-6 | Other household durable goods..................| 149.7 | 150.2 | 149.9 | 13-2 | Concrete ingredients...........................| 140.8 | 142.6 | 142.9 | 14-1 | Motor vehicles and equipment...................| 134.3 | 132.4 | 131.2 | 15-1 | Toys, sporting goods, small arms, etc..........| 131.5 | 131.2 | 131.7 | 15-4 | Photographic equipment and supplies............| 119.6 | 117.0 | 118.2 | 15-9 | Other miscellaneous products...................| 133.4 | 133.4 | 133.3 | __________________________________________________________|___________|___________|___________| 1/ Data for March 1997 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_July_1997_from:__ code | |base | | | | | | | |Mar. |June |July | July | June | | |1997 2/|1997 2/|1997 2/| 1996 | 1997 __________________|______________________________________________|_____|_______|_______|_______|________|___________ | | | |Total mining industries...................... |12/84| 78.8 79.7 79.5 -1.9 -0.3 10 | Metal mining................................ |12/84| 90.9 90.9 86.5 -3.0 -4.8 12 | Coal mining................................. |12/85| 92.8 93.1 90.5 0 -2.8 13 | Oil and gas extraction...................... |12/85| 77.3 78.5 78.9 -2.2 .5 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 127.7 128.8 129.1 1.5 .2 | | | |Total manufacturing industries............... |12/84| 127.8 127.3 127.0 -.1 -.2 20 | Food and kindred products................... |12/84| 128.1 128.4 128.0 -.2 -.3 21 | Tobacco manufactures........................ |12/84| 203.3 209.8 209.4 4.1 -.2 22 | Textile mill products....................... |12/84| 118.8 118.9 118.4 .1 -.4 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 123.2 123.1 123.4 .7 .2 24 | Lumber and wood products, except furniture.. |12/84| 159.3 159.8 160.1 4.4 .2 25 | Furniture and fixtures...................... |12/84| 137.7 137.9 138.3 1.5 .3 26 | Paper and allied products................... |12/84| 132.5 131.7 131.8 -3.3 .1 27 | Printing, publishing, and allied industries. |12/84| 168.0 168.3 168.6 2.1 .2 28 | Chemicals and allied products............... |12/84| 146.9 146.9 147.3 1.0 .3 29 | Petroleum refining and related products..... |12/84| 87.3 83.7 81.5 -5.6 -2.6 30 | Rubber and miscellaneous plastic products... |12/84| 122.4 122.7 122.9 -.2 .2 31 | Leather and leather products................ |12/84| 137.2 136.9 136.9 2.1 0 32 | Stone, clay, glass, and concrete products... |12/84| 127.1 127.6 127.5 1.4 -.1 33 | Primary metal industries.................... |12/84| 124.8 125.5 125.0 1.5 -.4 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 127.1 127.5 127.7 1.2 .2 35 | Machinery, except electrical................ |12/84| 119.1 118.6 118.1 -.8 -.4 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 112.2 112.0 111.7 -1.2 -.3 37 | Transportation equipment.................... |12/84| 135.3 133.8 133.0 -.6 -.6 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 125.5 125.2 125.8 .5 .5 39 | Miscellaneous manufacturing industries...... |12/85| 128.9 128.9 129.0 .9 .1 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 100.1 100.4 100.4 (3) 0 42 | Motor freight transportation and warehousing |06/93| 108.6 109.0 109.2 2.8 .2 43 | United states postal service................ |06/89| 132.3 132.3 132.3 0 0 44 | Water transportation........................ |12/92| 104.1 104.5 105.9 2.8 1.3 45 | Transportation by air....................... |12/92| 124.6 126.4 126.3 3.1 -.1 46 | Pipe lines, except natural gas.............. |12/86| 98.8 98.9 98.7 -5.1 -.2 80 | Health services............................. |12/94| 105.9 106.1 106.2 1.5 .1 81 | Legal services.............................. |12/96| 102.0 102.2 102.2 (3) 0 ____________________________________________________________________________________________________________________ 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 March 1997 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision four months after original publication. 3/ Not available. Table 5. Producer Price Indexes by stage of processing, seasonally adjusted (1982=100) ________________________________________________________________________________________________________________ | | Index 1/ |________________________________________________________ Grouping | | | | | | | Feb. | Mar. | Apr. | May. | Jun. | Jul. | 1997 | 1997 | 1997 | 1997 | 1997 | 1997 _______________________________________________________|_________|________|________|________|________|__________ Finished goods...................................| 132.6 132.3 131.6 131.2 131.1 131.0 Finished consumer goods........................| 131.1 130.8 129.9 129.4 129.4 129.2 Finished consumer foods......................| 134.1 135.2 134.7 135.2 134.0 133.7 Crude......................................| 134.1 140.5 120.9 124.7 116.6 114.6 Processed..................................| 134.1 134.8 135.6 136.0 135.3 135.1 Finished consumer goods, excluding foods.....| 129.7 128.8 127.8 126.8 127.2 127.1 Nondurable goods less foods................| 126.1 124.7 123.4 122.4 123.0 123.1 Durable goods..............................| 134.5 134.6 134.4 133.6 133.6 132.9 Capital equipment..............................| 138.5 138.5 138.3 138.0 138.1 138.0 Manufacturing industries.....................| 137.8 137.8 137.7 137.5 137.6 137.6 Nonmanufacturing industries..................| 138.7 138.7 138.5 138.1 138.2 138.1 | Intermediate materials, supplies, and components.| 126.4 125.9 125.5 125.3 125.3 125.1 Materials and components for manufacturing.....| 128.4 128.5 128.3 128.3 128.4 128.3 Materials for food manufacturing.............| 123.2 124.2 124.2 123.8 122.7 122.0 Materials for nondurable manufacturing.......| 129.8 129.3 129.0 129.2 129.2 129.5 Materials for durable manufacturing..........| 132.5 133.3 133.3 133.5 133.9 133.1 Components for manufacturing.................| 126.7 126.7 126.6 126.4 126.4 126.5 Materials and components for construction......| 145.7 146.1 146.5 147.1 147.0 147.1 Processed fuels and lubricants.................| 94.3 90.7 88.6 86.7 87.4 86.4 Manufacturing industries ....................| 96.3 92.8 90.8 89.0 89.0 88.9 Nonmanufacturing industries..................| 93.0 89.3 87.1 85.3 86.3 84.8 Containers.....................................| 137.0 136.2 134.8 134.9 134.3 133.9 Supplies.......................................| 135.4 135.7 136.0 136.2 135.9 135.9 Manufacturing industries.....................| 138.8 138.7 139.0 139.0 138.9 139.3 Nonmanufacturing industries..................| 133.6 134.2 134.5 134.8 134.4 134.2 Feeds......................................| 127.4 132.5 134.6 137.3 134.1 130.9 Other supplies.............................| 134.5 134.4 134.5 134.4 134.5 134.6 | Crude materials for further processing...........| 116.2 107.3 109.0 110.4 106.8 106.7 Foodstuffs and feedstuffs......................| 111.5 113.7 117.3 117.0 110.7 111.0 Nonfood materials..............................| 115.1 99.2 99.5 102.0 100.4 99.9 Nonfood materials except fuel 2/.............| 107.9 103.8 103.3 104.7 101.1 101.3 Manufacturing 2/...........................| 99.4 95.2 94.7 96.2 92.4 92.6 Construction...............................| 201.5 201.8 201.3 202.5 202.5 202.9 Crude fuel 3/................................| 116.6 82.1 83.6 87.7 89.7 88.2 Manufacturing industries...................| 112.0 81.4 82.7 86.4 88.0 86.8 Nonmanufacturing industries................| 119.3 83.3 84.9 89.2 91.3 89.7 | Special groupings | | Finished goods, excluding foods..................| 132.0 131.4 130.6 129.9 130.2 130.1 Intermediate materials less foods and feeds......| 126.6 125.9 125.4 125.1 125.3 125.1 Intermediate foods and feeds.....................| 124.9 127.1 127.8 128.4 126.6 125.1 Crude materials less agricultural products 2/....| 114.8 98.5 99.0 101.6 99.9 99.2 | Finished energy goods............................| 87.3 84.6 82.3 80.6 81.2 81.3 Finished goods less energy.......................| 140.1 140.5 140.3 140.2 140.0 139.8 Finished consumer goods less energy..............| 140.6 141.3 141.0 141.0 140.7 140.4 | Finished goods less foods and energy.............| 142.4 142.6 142.5 142.1 142.3 142.1 Finished consumer goods less foods and energy....| 144.8 145.1 145.1 144.7 144.9 144.7 Consumer nondurable goods less foods and energy..| 152.1 152.6 152.8 152.7 153.2 153.2 | Intermediate energy goods........................| 94.1 90.5 88.3 86.6 87.1 86.1 Intermediate materials less energy...............| 133.5 133.7 133.7 133.8 133.7 133.7 Intermediate materials less foods and energy.....| 134.1 134.1 134.1 134.1 134.2 134.2 | Crude energy materials 2/........................| 98.0 77.1 78.7 81.4 79.0 78.7 Crude materials less energy......................| 123.5 125.2 126.7 127.0 122.7 122.7 Crude nonfood materials less energy 3/...........| 158.4 158.9 155.0 156.9 157.5 156.7 ______________________________________________________________________________________________________________ 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 March 1997 have been recalculated to incorporate late reports and corrections by respondents. 2/ Includes crude petroleum. 3/ Excludes crude petroleum. Technical Notes Brief Explanation of Producer Price Indexes Producer price indexes (PPI) measure average changes in prices received by domestic producers of commodities in all stages of processing. Most of the information used in calculating the indexes is obtained through the systematic sampling of nearly every industry in the manufacturing and mining sectors of the economy. The PPI program also includes some information from other sectors--agriculture, fishing, forestry, services, and gas and electricity. Because producer price indexes are designed to measure only the change in prices received for the output of domestic industries, imports are not included. The sample currently contains about 3,200 commodities and 80,000 quotations per month. There are three primary systems of indexes within the PPI program: (1) Stage of processing indexes; (2) commodity indexes; and (3) indexes for the net output of industries and their products. The stage-of-processing structure (tables 1 and 2) organizes products by class of buyer and degree of processing. The commodity structure (tables 2 and 3) organizes products by similarity of end-use or material composition. The entire output of various industries is sampled to derive price indexes for the net output of industries and their products (table 4). Within the stage-of-processing system, finished goods are commodities that will not undergo further processing and are ready for sale to the final demand user, either an individual consumer or business firm. Consumer foods include unprocessed foods such as eggs and fresh vegetables, as well as processed foods such as bakery products and meats. Other finished consumer goods include durable goods such as automobiles, household furniture, and appliances, and nondurable goods such as apparel and home heating oil. Capital equipment includes producer durable goods such as heavy motor trucks, tractors, and machine tools. The stage-of-processing category for intermediate materials, supplies, and components consists partly of commodities that have been processed but require further processing. Examples of such semifinished goods include flour, cotton yarn, steel mill products, and lumber. The intermediate goods category also encompasses nondurable, physically complete items purchased by business firms as inputs for their operations. Examples include diesel fuel, belts and belting, paper boxes, and fertilizers. Crude materials for further processing are products entering the market for the first time that have not been manufactured or fabricated and that are not sold directly to consumers. Crude foodstuffs and feedstuffs include items such as grains and livestock. Examples of crude nonfood materials include raw cotton, crude petroleum, coal, hides and skins, and iron and steel scrap. Producer price indexes for the net output of industries and their products are grouped according to the Standard Industrial Classification (SIC) and the Census product code extension of the SIC. Industry price indexes are compatible with other economic time series organized by SIC codes, such as data on employment, wages, and productivity. Table 4 lists indexes for the net output of major mining and manufacturing industry groups at the 2-digit level. Producer price indexes are based on selling prices reported by establishments of all sizes selected by probability sampling, with the probability of selection proportionate to size. Individual items and transaction terms from these firms are also chosen by probability proportionate to size. BLS strongly encourages cooperating companies to supply actual transaction prices at the time of shipment to minimize the use of list prices. Prices are normally reported by mail questionnaire for the Tuesday of the week containing the 13th. Price data are provided on a voluntary and confidential basis; no one but sworn BLS employees are allowed access to individual company price reports. All producer price indexes are routinely subject to revision once, 4 months after original publication, to reflect the availability of late reports and corrections by respondents. Net output values of shipments are used as weights for industry indexes. Net output values refer to the value of shipments from establishments in one industry to establishments classified in another industry. However, weights for commodity price indexes are based on gross shipment values, including shipment values between establishments within the same industry. As a result, broad commodity grouping indexes such as the all commodities index are affected by the multiple counting of price change at successive stages of processing, which can lead to exaggerated or misleading signals about inflation. Stage-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. Weights for most traditional commodity groupings of the PPI, as well as all indexes (such as stage-of-processing indexes) calculated from traditional commodity groupings, currently reflect 1987 values of shipments as reported in the Census of Manufactures and other sources. From January 1987 through December 1991, PPI weights were derived from 1982 shipment values. Industry indexes shown in table 4 are also now calculated with 1987 net output weights. Effective with publication of January 1988 data, many important PPI series (including stage-of-processing groupings and most commodity groups and individual items) were placed on a new reference base, 1982=100, to coincide with the reference year of the shipment weights. From 1971 through 1987, the standard reference base for most PPI series was 1967=100. Except for rounding differences, the shift to the new reference base did not alter any changes to previously published percent changes for affected PPI series. (See "Calculating Index Changes," below.) The new reference base is not used for indexes with a base later than December 1981, nor for indexes for the net output of industries and their products. For further information on the underlying concepts and methodology of the Producer Price Index, see chapter 16, "Producer Prices," in BLS Handbook of Methods (September 1992), Bulletin 2414. Reprints are available from the Bureau of Labor Statistics on request. Calculating Index Changes Movements of price indexes from one month to another are usually expressed as percent changes rather than as changes in index points because index point chances are affected by the level of the index in relation to its base period, while percent changes are not. The box shows the computation of index point and percent changes. Percent changes for 3-month and 6-month periods can be expressed as annual rates that are computed according to the standard formula for compound growth rates. These data indicate what the percent change would be if the rate for a given 3- or 6-month span were maintained for a 12-month period. Index Point Change Finished Goods Price Index 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 Each index measures price changes from a reference period which equals 100.0 (1982 or some later month). An increase of 5.5 percent from the reference period in the Finished Goods Price Index, for example, is shown as 105.5. This change can also be expressed in dollars as follows: "Prices received by domestic producers of a systematic sample of finished goods have risen from $100 in 1982 to $105.50 to-day." Likewise, a current index of 90.0 would indicate that prices received by producers of finished goods today are 10 percent lower than they were in 1982. Seasonally Adjusted and Unadjusted Data Because price data are used for different purposes by different groups, the Bureau of Labor Statistics publishes seasonally adjusted as well as unadjusted changes each month. Seasonally adjusted data are preferred for analyzing general price trends in the economy because they eliminate the effect of changes that normally occur at about the same time and in about the same magnitude every year-such as price movements resulting from normal weather patterns, regular production and marketing cycles, model changeovers, seasonal discounts, and holidays. For these reasons, seasonally adjusted data more clearly reveal underlying cyclical trends. Unadjusted data are of primary interest to users who need information which can be related to actual dollar values of transactions. Individuals requiring this information include marketing specialists, purchasing agents, budget and cost analysts, contract specialists, and commodity traders. It is the unadjusted data that are generally cited in escalating long-term contracts such as purchasing agreements or real estate leases. (See Escalation and Producer Price Indexes: A Guide for Contracting Parties, BLS Report 807, September 1991, available on request from BLS.) For more information, see "Appendix A: Seasonal Adjustment Methodology at BLS," in the BLS Handbook of Methods (September 1992), Bulletin 2414.