FOR DATA ONLY: (202) 606-7828 USDL 97-354 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), FRIDAY, http://stats.bls.gov/ppihome.htm OCTOBER 10, 1997 Producer Price Indexes -- September 1997 The Producer Price Index for Finished Goods increased 0.5 percent in September, seasonally adjusted, the Bureau of Labor Statistics of the U. S. Department of Labor reported today. This followed a rise of 0.3 percent in August. Prices for finished goods other than foods and energy increased 0.4 percent in September after inching up 0.1 percent in the prior month. Prices received by domestic producers of intermediate goods rose 0.3 percent in September after increasing 0.1 percent in the previous month. The index for crude materials increased 0.6 percent after rising 0.7 percent in August. (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 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 0.8 -3.1 0.1 1.5 -0.4 -7.7 Apr. -0.5 -0.4 -3.2 -0.1 0.8 -0.3 0.6 May r-0.2 0.4 r-1.3 r-0.2 r0.4 -0.2 r2.1 June r-0.2 r-1.0 r0.5 0.1 -0.1 0 r-3.1 July -0.1 -0.2 0.1 -0.1 -0.2 -0.2 -0.1 Aug. 0.3 0.3 1.4 0.1 -0.2 0.1 0.7 Sept. 0.5 0.1 1.5 0.4 0 0.3 0.6 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for May 1997 have been recalculated to incorporate late reports and corrections by respondents. -2- The September increase in the index for finished goods was led by a 1.5 percent rise in finished energy goods. Increases in the indexes for consumer goods other than foods and energy and for capital equipment also contributed to the September rise. Much of the advance in these latter indexes was due to a seasonally-adjusted increase of 1.2 percent in motor vehicle prices. The index for finished consumer foods rose less than a month ago. For the first nine months of 1997, the Producer Price Index for Finished Goods declined at a 1.4-percent seasonally-adjusted annual rate (SAAR). This compares with a 2.8-percent increase during all of 1996. Prices for finished goods other than foods and energy increased at a 0.3- percent SAAR for the first nine months of 1997 after rising 0.6 percent in the prior year. During the third quarter of 1997, the Finished Goods Price Index rose at a seasonally-adjusted annual rate of 2.8 percent following a 3.6-percent rate of decline during the second quarter. The index for finished energy goods increased at a 12.4-percent annual rate from June 1997 to September 1997 after falling at a 15.1-percent rate during the second quarter of 1997. The annualized rate of increase for the finished goods less food and energy index was 1.4 percent during the third quarter following a decline of 0.8 percent in the previous quarter. Prices for finished consumer foods advanced at a seasonally-adjusted annual rate of 0.6 percent from June to September after decreasing at a 3.5-percent rate during the second quarter. The index for capital equipment turned up 0.9 percent on a SAAR basis after falling at a 1.2 percent rate in the previous quarter. 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 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. 1.8 -3.8 0 0.6 2.0 -21.3 0.3 -2.2 Apr. 0.5 -2.5 0 -0.1 3.1 -0.9 -2.3 -5.7 May 0.5 r-1.5 r0.1 r-0.6 -0.2 r5.8 r1.3 r-4.7 June -1.4 r0.2 r0 -0.4 -5.4 r-2.2 r0.1 -5.4 July -1.2 -1.1 0 -0.3 0.3 -0.4 -0.5 -7.3 Aug. -0.7 0.7 0.1 -0.4 -0.1 1.7 0.8 -7.1 Sept. 1.4 1.4 0 -0.6 -0.3 2.6 -1.0 -4.2 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for May 1997 have been recalculated to incorporate late reports and corrections by respondents. -3- Before seasonal adjustment, the Producer Price Index for Finished Goods increased 0.1 percent in September to stand at 131.8 (1982=100). From September 1996 to September 1997, the finished goods index showed no change. During this same period, prices for finished energy goods fell 0.1 percent, finished consumer foods prices declined 0.6 percent, and prices for finished goods other than foods and energy rose 0.4 percent. Prices received by domestic producers of intermediate goods moved down 0.6 percent during the 12 months ended in September 1997, and crude materials prices fell 4.2 percent over the same period. Finished goods The Producer Price Index for Finished Energy Goods rose 1.5 percent, seasonally adjusted, in September after increasing 1.4 percent a month ago. Price increases for residential electric power, gasoline, residential natural gas, and finished lubricants outweighed price decreases for fuel oil #2. The index for finished consumer goods other than foods and energy rose 0.5 percent in September following a 0.1-percent increase in the prior month. Prices for passenger cars rose 1.4 percent after gaining 0.5 percent in the previous month. Before seasonal adjustment, the index for passenger cars fell 1.8 percent in September to a point 2.1 percent below its year-ago level. The indexes for light trucks and tobacco products turned up after falling in August. By contrast, the index for alcoholic beverages turned down 1.0 percent following a 0.4-percent increase in the prior month. Prices for book publishing also turned down after rising a month ago. The index for capital equipment increased 0.3 percent in September after showing no change in August. Prices for light motor trucks turned up 1.5 percent after declining 0.1 percent a month ago. The index for communication and related equipment showed no change after falling in August. Prices for commercial furniture rose after showing no change in the prior month. The index for finished consumer foods increased 0.1 percent in September. Rising prices for fresh fruits and melons, eggs for fresh use, finfish and shellfish, and dairy products were key factors behind this month's advance. The September increase for finished consumer foods followed a 0.3-percent increase in the previous month. This deceleration was led by the index for fresh and dry vegetables, which fell 5.1 percent after rising 17.5 percent in August. Prices for beef and veal and for roasted coffee also turned down after increasing in the prior month. The index for processed young chickens fell more than a month ago. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components increased 0.3 percent in September, seasonally adjusted. This advance can be traced primarily to price increases for intermediate energy goods, intermediate foods and feeds, and materials for nondurable manufacturing. By contrast, the index for materials and components for construction fell slightly in September. Prices for materials for durable manufacturing were unchanged over the month. The index for intermediate goods excluding foods and energy showed no change after rising 0.1 percent in August. (See Table B.) The 0.3-percent rise in prices for intermediate goods in September follows a 0.1-percent gain in the previous month. The key factors in this acceleration were an upturn in prices for foods and feeds and a faster rate of increase for energy goods than in the prior month. -4- For the third quarter, the Intermediate Goods Price Index advanced at a seasonally-adjusted annual rate of 1.0 percent after declining at a 1.9- percent rate during the second quarter of 1997. The index for intermediate energy goods rose at a seasonally-adjusted annual rate of 3.7 percent in the third quarter after falling at a 14.2-percent rate during the second quarter. The index for intermediate foods and feeds fell at a seasonally- adjusted annual rate of 2.2 percent from June to September after declining at a 1.6-percent rate during the second quarter. The index for intermediate goods other than foods and energy rose at an annual rate of 0.3 percent in the third quarter after increasing at a 0.4-percent rate in the second quarter. The index for intermediate energy materials rose 1.4 percent in September. This advance was led by a 1.6-percent increase in prices for electric power. Also contributing were rising prices for residual fuel, liquefied petroleum gas, and gasoline. The September rise in the intermediate energy goods index followed a 0.7-percent advance in August. This acceleration was, again, primarily caused by prices for electric power, which increased after falling 0.9 percent in the previous month. The index for residual fuel also turned up after falling in August. By contrast, the index for No. 2 diesel fuel declined 4.8 percent following a 4.3-percent advance one month ago. Prices for jet fuels also fell after rising. The index for intermediate foods and feeds rose 1.4 percent in September. Key to this advance was a 2.8-percent increase for prepared animal feeds. Increasing prices for confectionery materials, cheese, dairy products, and flour also contributed to the overall index's rise. September's increase in prices for intermediate foods and feeds follows a 0.7-percent decline one month ago. Contributing most to this upturn was the index for prepared animal feeds, which rose 2.8 percent after falling 2.1 percent in the prior month. Prices for confectionery materials and crude vegetable oils also increased after falling last month. By contrast, the index for beef and veal declined 0.6 percent following a 3.3-percent advance in the previous month. The index for materials for nondurable manufacturing rose 0.4 percent for September. A 4.3-percent increase in prices for paperboard was key to this advance. The increase in the index for nondurable manufacturing materials followed a smaller 0.2-percent advance in August. Contributing to this acceleration was a moderation in the rate of decline in the index for plastic resins. Those prices fell 0.7 percent in September after falling 1.7 percent in August. Prices for paperboard, primary basic organic chemicals, and paper rose more than in the previous month. The index for finished fabrics increased after falling a month earlier. By contrast, the index for alkalies and chlorine decreased 1.6 percent following a 2.8-percent increase in the prior month. Prices for paint materials and nitrogenates also fell after rising in August. The index for woodpulp rose less than a month ago. The index for materials and components for construction declined 0.1 percent in September, the same as a month ago. Falling prices for softwood lumber, plastic construction products, fabricated structural metal products, and asphalt felts and coatings outweighed advancing prices for air conditioning and refrigeration equipment, plywood, and gypsum products. The index for materials for durable manufacturing was unchanged in September, the same as in August. Rising prices for aluminum mill shapes; hot rolled bars, plates, and structural shapes; primary aluminum ingot; semi-finished steel mill products; and prepared paint were offset by declining prices for copper cathode and refined copper, copper and brass mill shapes, cold rolled sheet and strip, hot rolled sheet and strip, and flat glass. -5- Crude goods The Producer Price Index for Crude Materials for Further Processing rose 0.6 percent, seasonally adjusted, in September following a 0.7-percent gain in August. Price increases for crude energy materials more than offset declines for basic industrial materials and for foodstuffs and feedstuffs. (See table B.) The index for crude goods turned up at a 4.6-percent seasonally- adjusted annual rate from June 1997 through September 1997 following a 1.9- percent rate of decline in the second quarter of 1997. Prices for crude energy materials rose at a 16.6 percent SAAR in the third quarter after increasing at a 10.2-percent rate between March 1997 and June 1997. The index for basic industrial materials declined at a 3.0-percent SAAR during the third quarter following a 3.5-percent rate of decline in the second quarter. Prices for crude foodstuffs and feedstuffs also fell less rapidly in the third quarter (-0.4 percent) than in the second quarter (-10.1 percent) on a SAAR basis. The index for crude energy materials increased 2.6 percent in September. This rise was mostly due to a 7.4-percent advance in prices for natural gas. The September increase in prices for crude energy materials follows a 1.7 percent rise in August. This acceleration was led by natural gas prices, which rose faster in September than in August. By contrast, prices for crude petroleum turned down after showing no change in August. Coal prices rose less than in the previous month. Prices for crude nonfood materials less energy fell 1.0 percent in September after rising 0.8 percent in the prior month. The index for wastepaper turned down 4.9 percent following an 18.5-percent increase a month ago. Prices for iron and steel scrap and for aluminum base scrap also fell after rising in August. The index for crude foodstuffs and feedstuffs decreased 0.3 percent in September. The 6.8-percent decline in prices for slaughter broilers and fryers was the main cause of this index's decline. The September decrease in prices for crude foodstuffs and feedstuffs follows a smaller 0.1-percent drop in August. This faster rate of decline was led by the index for Irish potatoes for processing, which turned down 15.3 percent following a 105.3 percent rise in the prior month. Prices for slaughter broilers and fryers and for fluid milk also fell after increasing a month ago. The index for wheat rose less than in the previous month. By contrast, prices for slaughter hogs declined 3.3 percent in September after falling 7.9 percent in August. The index for fresh fruits and melons turned up after declining a month earlier. Net output price indexes for mining, manufacturing, and other industries Mining. The Producer Price Index for the net output of total domestic mining industries advanced 2.0 percent in September following a 1.1-percent increase in August. (Net output price indexes are not seasonally adjusted.) During the third quarter of 1997, this index rose at an annual rate of 12.1 percent, after increasing at a 4.6-percent rate in the second quarter. In September, prices for the oil and gas extraction industry group turned up 2.9 percent after rising 1.4 percent in the previous month. The index for the coal mining industry group increased 0.2 percent following a 1.0-percent increase a month ago. Prices for the nonmetallic minerals mining industry group declined 0.1 percent following a 6.2-percent advance in the prior month. The index for the metal mining industry group fell 3.2 percent, after showing no change one month ago. In September, the Producer Price Index for total domestic mining industries stood at 82.0 (December 1984=100), 0.9 percent above its year-ago level. -6- Manufacturing. The Producer Price Index for the net output of total domestic manufacturing industries showed no change in September following a 0.2-percent increase in August. From June to September, this index showed no change, after declining at a 1.6-percent annual rate in the second quarter. In September, prices for the petroleum refining and related products industry group rose 1.4 percent following a 4.2-percent increase in the prior month. The indexes for fabricated metal products, measuring and controlling instruments, and miscellaneous manufacturing industries showed no change after rising in August. Prices for the food and kindred products, and rubber and plastic products industry groups turned down after increasing in the previous month. The index for the transportation equipment industry group fell more than in the prior month. On the other hand, prices for the tobacco manufactures industry group advanced 4.4 percent after showing no change in August. The indexes for the paper and allied products and leather and leather products industry groups rose more than in the previous month. In September, the Producer Price Index for the net output of the total domestic manufacturing sector stood at 127.3 (December 1984=100), 0.2 percent below its year-ago level. Other. Among other industries in September, the indexes for local trucking without storage, scheduled air cargo transportation, travel agencies, hotels and motels, offices and clinics of doctors of medicine, and home health care services advanced following declines one month ago. Prices for local trucking with storage rose after showing no change in the prior month. The index for farm product warehousing and storage, airports and airport services, natural gas utilities, and specialty hospitals, except psychiatric increased more than in the previous month. Prices for freight transportation on the Great Lakes-St. Lawrence Seaway, tugging and towing services, air courier services, and truck rental and leasing (without drivers) were unchanged following declines in August. The indexes for deep sea foreign transportation of freight and marine cargo handling fell less than one month earlier. By contrast, prices for freight transportation arrangement, scrap and waste materials, and passenger car rental (without drivers) declined following advances one month ago. Prices for scheduled air passenger transportation fell more than last month. The indexes for nonscheduled air transportation, and architectural design, analysis, and consulting services showed no change following advances in August. Prices for railroads (line- haul operating) and skilled and intermediate care facilities rose less than in the prior month. ***** Producer Price Index data for October 1997 will be released on Friday, November 14, at 8:30 a.m. (E.S.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. Table 1. Producer Price Indexes and percent changes by stage of processing (1982=100) ___________________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | Relative | Unadjusted index |change to |percent change from: Grouping |importance| |Sept.1997 from:| | |_______________________|_______________|______________________________ | Dec. | | | | | | | | | May |Aug. |Sept. | Sept.| Aug. |June to|July to |Aug. to | 1996 1/|1997 2/|1997 2/|1997 2/| 1996 | 1997 | July | Aug. | Sept. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|____________ | Finished goods...................................| 100.000 131.6 131.7 131.8 0 0.1 -0.1 0.3 0.5 Finished consumer goods........................| 76.423 130.0 130.2 130.5 .1 .2 -.2 .4 .5 Finished consumer foods......................| 23.644 135.2 134.8 134.8 -.6 0 -.2 .3 .1 Crude......................................| 1.639 124.4 116.7 122.8 -4.2 5.2 -1.7 .3 4.5 Processed..................................| 22.005 135.9 136.2 135.6 -.4 -.4 -.1 .3 -.1 Finished consumer goods, excluding foods.....| 52.779 127.6 128.1 128.5 .4 .3 -.1 .5 .7 Nondurable goods less foods................| 36.392 123.5 124.6 125.7 .9 .9 .1 .5 .9 Durable goods..............................| 16.387 133.6 132.6 131.5 -.7 -.8 -.5 .3 .5 Capital equipment..............................| 23.577 138.1 137.7 137.1 -.1 -.4 -.1 0 .3 Manufacturing industries.....................| 6.028 137.6 137.4 137.1 .3 -.2 0 0 .1 Nonmanufacturing industries..................| 17.549 138.3 137.7 137.0 -.4 -.5 -.1 0 .4 | Intermediate materials, supplies, and components.| 100.000 125.4 125.6 126.0 -.6 .3 -.2 .1 .3 Materials and components for manufacturing.....| 49.031 128.4 128.3 128.4 -.2 .1 -.1 0 .1 Materials for food manufacturing.............| 3.318 123.9 122.8 123.2 -4.6 .3 -.6 0 .6 Materials for nondurable manufacturing.......| 15.610 129.1 129.6 130.2 .2 .5 .2 .2 .4 Materials for durable manufacturing..........| 10.965 133.4 133.1 133.1 1.4 0 -.6 0 0 Components for manufacturing.................| 19.138 126.5 126.2 126.0 -.6 -.2 .1 -.2 -.1 Materials and components for construction......| 12.691 147.2 147.0 146.7 1.3 -.2 .1 -.1 -.1 Processed fuels and lubricants.................| 13.665 87.2 89.2 90.9 -2.9 1.9 -1.1 .7 1.4 Manufacturing industries ....................| 5.415 90.1 91.4 93.5 -1.6 2.3 -.1 .3 2.1 Nonmanufacturing industries..................| 8.250 85.4 87.7 89.2 -3.7 1.7 -1.7 .9 .8 Containers.....................................| 3.527 134.6 134.0 135.4 -2.2 1.0 -.3 .1 1.0 Supplies.......................................| 21.086 136.2 135.7 136.1 -.5 .3 0 -.1 .3 Manufacturing industries.....................| 7.535 139.0 139.5 139.6 .4 .1 .3 .1 .1 Nonmanufacturing industries..................| 13.551 134.8 133.8 134.3 -1.0 .4 -.1 -.2 .4 Feeds......................................| 1.607 136.9 127.6 131.7 -7.1 3.2 -2.4 -2.2 3.0 Other supplies.............................| 11.944 134.5 134.7 134.7 -.1 0 .1 .1 .1 | Crude materials for further processing...........| 100.000 110.4 107.8 108.2 -4.2 .4 -.1 .7 .6 Foodstuffs and feedstuffs......................| 38.004 117.4 111.7 111.1 -11.0 -.5 .3 -.1 -.3 Nonfood materials..............................| 61.996 101.8 101.2 102.4 1.6 1.2 -.5 1.3 1.2 Nonfood materials except fuel 3/.............| 36.095 105.3 102.4 101.0 -5.7 -1.4 .2 1.1 -1.3 Manufacturing 3/...........................| 32.588 96.7 93.8 92.4 -6.7 -1.5 .2 1.3 -1.4 Construction...............................| 3.507 202.9 202.7 201.7 2.9 -.5 .2 -.1 -.4 Crude fuel 4/................................| 25.901 86.3 89.7 95.1 18.1 6.0 -1.7 1.7 6.0 Manufacturing industries...................| 5.258 85.1 88.0 92.8 16.0 5.5 -1.4 1.4 5.5 Nonmanufacturing industries................| 20.643 87.7 91.2 96.9 18.8 6.3 -1.8 1.8 6.1 | Special groupings | | Finished goods, excluding foods..................|5/ 76.356 130.5 130.7 130.8 .2 .1 -.1 .3 .6 Intermediate materials less foods and feeds......|6/ 95.065 125.3 125.6 126.0 -.2 .3 -.2 .2 .2 Intermediate foods and feeds.....................|6/ 4.935 128.3 124.6 126.2 -5.5 1.3 -1.2 -.7 1.4 Crude materials less agricultural products 3/ 7/.|8/ 59.898 101.2 100.8 101.9 1.8 1.1 -.7 1.6 1.1 | Finished energy goods............................|5/ 14.720 82.2 84.0 85.2 -.1 1.4 .1 1.4 1.5 Finished goods less energy.......................|5/ 85.280 140.3 139.9 139.7 .1 -.1 -.1 .1 .4 Finished consumer goods less energy..............|5/ 61.703 141.1 140.7 140.6 .1 -.1 -.2 .2 .3 | Finished goods less foods and energy.............|5/ 61.636 142.3 141.9 141.6 .4 -.2 -.1 .1 .4 Finished consumer goods less foods and energy....|5/ 38.059 144.9 144.5 144.4 .6 -.1 -.1 .1 .5 Consumer nondurable goods less foods and energy..|5/ 21.672 153.0 153.2 153.9 1.6 .5 0 .1 .5 | Intermediate energy goods........................|6/ 13.796 87.0 88.9 90.6 -2.9 1.9 -1.1 .7 1.4 Intermediate materials less energy...............|6/ 86.204 133.9 133.6 133.8 -.1 .1 0 0 .1 Intermediate materials less foods and energy.....|6/ 81.269 134.2 134.2 134.3 .3 .1 0 .1 0 | Crude energy materials 3/........................|8/ 42.427 80.8 80.0 82.1 1.4 2.6 -.4 1.7 2.6 Crude materials less energy......................|8/ 57.573 127.5 123.5 122.6 -6.9 -.7 0 .2 -.5 Crude nonfood materials less energy 4/...........|8/ 19.569 157.8 157.9 156.1 1.7 -1.1 -.5 .8 -1.0 | ___________________________________________________________________________________________________________________________________ 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 May 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 | | |Sept.1997 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | | May |Aug. |Sept. | Sept. | Aug. |June to|July to|Aug. to | |1997 1/|1997 1/|1997 1/| 1996 | 1997 | July | Aug. | Sept. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 131.6 131.7 131.8 0 0.1 -0.1 0.3 0.5 | FINISHED CONSUMER GOODS...............................| 130.0 130.2 130.5 .1 .2 -.2 .4 .5 | FINISHED CONSUMER FOODS..............................| 135.2 134.8 134.8 -.6 0 -.2 .3 .1 | | 01-11 | Fresh fruits and melons 2/..........................| 110.8 81.1 92.2 -22.8 13.7 -9.7 -1.5 13.7 01-13 | Fresh and dry vegetables 2/.........................| 111.3 131.7 125.0 17.5 -5.1 3.0 17.5 -5.1 01-71-07 | Eggs for fresh use (Dec. 1991=100) 2/...............| 86.9 88.0 100.1 -7.1 13.8 21.7 -8.9 13.8 02-11 | Bakery products 2/..................................| 173.8 173.9 174.4 1.8 .3 .2 0 .3 02-13 | Milled rice 2/......................................| 127.7 125.6 124.1 -7.0 -1.2 -.8 -.7 -1.2 02-14-02 | Pasta products (June 1985=100) 2/...................| 126.4 123.4 123.4 -3.7 0 -2.6 0 0 02-21-01 | Beef and veal.......................................| 105.3 104.7 103.8 .2 -.9 -1.3 3.3 -.6 02-21-04 | Pork................................................| 132.2 131.9 123.2 -1.8 -6.6 1.2 -1.7 -1.8 02-22-03 | Processed young chickens............................| 118.4 122.0 120.9 -5.3 -.9 2.2 -.1 -1.7 02-22-06 | Processed turkeys 2/................................| 102.9 100.3 102.4 -3.3 2.1 -1.2 -2.5 2.1 02-23 | Finfish and shellfish...............................| 180.9 166.3 169.5 7.7 1.9 -2.5 -1.3 2.7 02-3 | Dairy products......................................| 125.9 126.0 127.4 -8.8 1.1 -1.3 .8 .7 02-4 | Processed fruits and vegetables 2/..................| 126.9 126.0 125.4 -2.5 -.5 .2 -.5 -.5 02-55 | Confectionery end products 2/.......................| 168.5 168.6 168.3 .2 -.2 .2 -.1 -.2 02-62 | Soft drinks.........................................| 133.5 133.0 132.7 -1.1 -.2 .2 -.2 -.2 02-63-01 | Roasted coffee 2/...................................| 158.8 167.0 165.1 29.4 -1.1 -.4 .7 -1.1 02-76 | Shortening and cooking oils 2/......................| 138.0 138.6 136.6 -2.8 -1.4 3.5 -2.0 -1.4 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 127.6 128.1 128.5 .4 .3 -.1 .5 .7 | | 02-61 | Alcoholic beverages.................................| 136.1 135.5 134.2 1.7 -1.0 -.1 .4 -1.0 03-81-01 | Women's apparel 2/..................................| 120.4 120.4 120.4 0 0 .3 .2 0 03-81-02 | Men's and boys' apparel.............................| 132.5 132.6 132.6 .5 0 .2 .1 -.1 03-81-03 | Girls', children's, and infants' apparel 2/.........| 122.6 123.0 123.1 0 .1 -.1 -1.0 .1 03-82 | Textile housefurnishings 2/.........................| 122.2 122.2 122.6 -.6 .3 -.2 0 .3 04-3 | Footwear............................................| 143.7 144.5 145.6 2.5 .8 .1 .5 .7 05-41 | Residential electric power (Dec. 1990=100)..........| 111.6 115.9 117.0 .1 .9 0 -1.0 1.3 05-51 | Residential gas (Dec. 1990=100).....................| 110.9 113.2 115.1 4.8 1.7 .6 .7 1.2 05-71 | Gasoline............................................| 72.8 73.5 75.2 2.2 2.3 -1.0 5.9 2.2 05-73-02-01| Fuel oil No. 2......................................| 66.2 61.6 60.2 -17.3 -2.3 -3.4 1.8 -8.0 06-35 | Pharmaceutical preps, ethical (Prescription)........| 272.7 273.2 273.5 2.6 .1 0 0 0 06-36 | Pharmaceutical preps,proprietary (Over-counter).....| 184.0 184.3 184.4 .6 .1 .2 -2.1 0 06-71 | Soaps and synthetic detergents 2/...................| 126.4 126.3 126.5 1.0 .2 -.2 0 .2 06-75 | Cosmetics and other toilet preparations 2/..........| 130.8 130.1 130.0 .2 -.1 0 -.6 -.1 07-12 | Tires, tubes, tread, etc 2/.........................| 95.8 94.9 95.2 -2.2 .3 -.1 -.1 .3 09-15-01 | Sanitary papers and health products 2/..............| 145.7 147.7 147.6 -.3 -.1 0 .8 -.1 09-31-01 | Newspaper circulation...............................| 201.7 202.6 202.7 .9 0 -.3 .2 0 09-32-01 | Periodical circulation..............................| 187.3 188.0 188.2 5.6 .1 .5 .1 1.1 09-33 | Book publishing 2/..................................| 198.0 199.5 198.3 1.3 -.6 .1 .6 -.6 12-1 | Household furniture 2/..............................| 146.0 146.3 146.5 1.2 .1 .1 0 .1 12-3 | Floor coverings 2/..................................| 126.7 128.0 127.4 -.5 -.5 -2.3 1.7 -.5 12-4 | Household appliances 2/.............................| 110.5 109.5 109.6 -2.6 .1 -.6 -.3 .1 12-5 | Home electronic equipment 2/........................| 78.3 78.3 78.4 -.8 .1 0 0 .1 12-62 | Household glassware 2/..............................| 162.1 161.9 161.9 2.4 0 0 0 0 12-64 | Household flatware 2/...............................| 138.6 138.4 138.4 .4 0 -.6 .4 0 12-66 | Lawn and garden equip., ex. tractors 2/.............| 132.9 132.4 130.5 -1.6 -1.4 -.5 .2 -1.4 14-11-01 | Passenger cars......................................| 133.0 129.9 127.6 -2.1 -1.8 -1.6 .5 1.4 15-11 | Toys, games, and children's vehicles................| 125.2 125.1 125.0 -.3 -.1 .1 .2 0 15-12 | Sporting and athletic goods 2/......................| 124.8 125.5 125.8 1.7 .2 .7 .4 .2 15-2 | Tobacco products 2/.................................| 248.2 247.8 255.7 7.3 3.2 0 -.2 3.2 15-5 | Mobile homes 2/.....................................| 152.1 152.2 152.6 1.5 .3 -.1 .3 .3 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 130.6 130.4 130.9 1.4 .4 -.4 1.9 .4 15-94-04 | Costume jewelry and novelties 2/....................| 139.9 141.0 140.9 2.3 -.1 .4 .5 -.1 | | | CAPITAL EQUIPMENT.....................................| 138.1 137.7 137.1 -.1 -.4 -.1 0 .3 | | 11-1 | Agricultural machinery and equipment 2/.............| 148.8 148.0 147.8 .5 -.1 .4 0 -.1 11-2 | Construction machinery and equipment................| 142.0 142.1 142.2 1.5 .1 -.1 .1 .1 11-37 | Metal cutting machine tools 2/......................| 155.5 157.1 157.3 2.6 .1 .4 .4 .1 11-38 | Metal forming machine tools 2/......................| 153.0 154.5 155.1 3.2 .4 .6 .2 .4 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 138.1 138.2 138.2 1.2 0 .2 -.1 0 11-41 | Pumps, compressors, and equipment...................| 146.5 147.0 147.1 2.4 .1 .3 .1 .1 11-44 | Industrial material handling equipment 2/...........| 129.6 130.0 129.9 1.7 -.1 .2 .1 -.1 11-51 | Electronic computers (Dec. 1990=100) 2/.............| 33.4 31.8 31.1 -24.0 -2.2 -1.8 -2.8 -2.2 11-62 | Textile machinery 2/................................| 152.5 152.5 152.5 2.9 0 0 0 0 11-64 | Paper industries machinery (June 1982=100)..........| 156.8 157.6 157.8 2.3 .1 .3 -.6 .3 11-65 | Printing trades machinery 2/........................| 138.1 139.3 138.8 1.0 -.4 .2 -.7 -.4 11-74 | Transformers and power regulators 2/................| 129.4 130.2 130.1 .7 -.1 2.4 -.3 -.1 11-76 | Communication & related equip. (Dec. 1985=100) 2/...| 113.7 114.3 114.3 1.1 0 .4 -.3 0 11-79-05 | X-ray and electromedical equipment 2/...............| 107.4 107.7 107.2 -2.2 -.5 .7 -.1 -.5 11-91 | Oil field and gas field machinery 2/................| 122.5 122.8 122.8 4.0 0 -.1 .2 0 11-92 | Mining machinery and equipment 2/...................| 140.3 140.6 141.0 .9 .3 .2 .1 .3 11-93 | Office and store machines and equipment 2/..........| 112.4 112.6 112.6 .7 0 0 .1 0 12-2 | Commercial furniture 2/.............................| 154.3 154.2 154.8 2.0 .4 .4 0 .4 14-11-05 | Light motor trucks..................................| 158.8 156.5 152.9 -.8 -2.3 -.8 -.1 1.5 14-11-06 | Heavy motor trucks..................................| 140.5 141.8 140.7 -1.3 -.8 .6 -.3 .1 14-14 | Truck trailers 2/...................................| 130.4 129.8 129.7 -.2 -.1 -.5 0 -.1 14-21-02 | Civilian aircraft (Dec. 1985=100)...................| 150.0 150.2 150.2 1.1 0 .4 .1 .2 14-31 | Ships (Dec. 1985=100) 2/............................| 141.4 144.7 144.8 4.0 .1 1.2 1.2 .1 14-4 | Railroad equipment..................................| 134.2 132.5 134.2 -2.0 1.3 -.3 .2 1.4 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 125.4 125.6 126.0 -.6 .3 -.2 .1 .3 | | | INTERMEDIATE FOODS AND FEEDS..........................| 128.3 124.6 126.2 -5.5 1.3 -1.2 -.7 1.4 | | 02-12-03 | Flour 2/............................................| 123.4 115.4 117.8 -6.0 2.1 -5.0 1.1 2.1 02-53 | Refined sugar 2/....................................| 125.4 122.2 123.6 -1.5 1.1 -2.9 1.1 1.1 02-54 | Confectionery materials.............................| 107.8 107.6 109.9 1.4 2.1 -.4 -.8 2.6 02-72 | Crude vegetable oils 2/.............................| 117.4 110.6 112.5 -6.6 1.7 -1.3 -3.2 1.7 02-9 | Prepared animal feeds 2/............................| 139.7 131.7 135.4 -5.2 2.8 -1.7 -2.1 2.8 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 125.3 125.6 126.0 -.2 .3 -.2 .2 .2 | | 03-1 | Synthetic fibers 2/.................................| 111.3 110.8 110.4 -1.5 -.4 -.4 .1 -.4 03-2 | Processed yarns and threads 2/......................| 113.9 113.8 113.7 -2.3 -.1 0 -.2 -.1 03-3 | Gray fabrics 2/.....................................| 121.8 121.9 122.3 .8 .3 .1 -.1 .3 03-4 | Finished fabrics....................................| 124.0 123.7 124.1 .2 .3 .1 -.1 .5 03-83-03 | Industrial textile products 2/......................| 127.8 127.8 127.9 -.2 .1 .3 -.2 .1 04-2 | Leather.............................................| 183.6 178.6 179.6 2.0 .6 -.8 -.6 .4 05-32 | Liquefied petroleum gas 2/..........................| 73.8 75.1 78.8 -10.9 4.9 -3.8 2.5 4.9 ____________________________________________________________________________________________________________________________________ See footnotes at end of table. Table 2. Producer Price Indexes and percent changes for selected commodity groupings by stage of processing - Continued (1982=100 unless otherwise indicated) ____________________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | | Unadjusted index |change to |percent change from: Commodity | | |Sept.1997 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | | May |Aug. |Sept. | Sept. | Aug. |June to|July to|Aug. to | |1997 1/|1997 1/|1997 1/| 1996 | 1997 | July | Aug. | Sept. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 129.2 136.4 139.5 0 2.3 -1.8 -0.9 2.3 05-43 | Industrial electric power...........................| 129.7 133.4 136.1 -.1 2.0 .7 -.8 2.0 05-52 | Commercial natural gas (Dec. 1990=100)..............| 102.3 103.5 106.1 6.4 2.5 .8 .1 2.8 05-53 | Industrial natural gas (Dec. 1990=100)..............| 99.9 99.6 102.9 6.2 3.3 1.2 -.4 4.9 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 90.3 86.0 85.4 -.6 -.7 1.2 -3.3 -.8 05-72-03 | Jet fuels...........................................| 58.7 59.6 58.4 -20.0 -2.0 -3.5 1.8 -5.9 05-73-03 | No. 2 Diesel fuel...................................| 63.6 61.7 61.4 -17.8 -.5 -5.0 4.3 -4.8 05-74 | Residual fuel 2/....................................| 56.2 53.6 58.0 -.7 8.2 -6.7 -1.8 8.2 06-1 | Industrial chemicals 2/.............................| 125.8 127.0 127.3 -.5 .2 .7 .3 .2 06-21 | Prepared paint......................................| 152.3 152.4 152.4 2.1 0 .2 0 .4 06-22 | Paint materials 2/..................................| 141.3 142.9 142.5 2.1 -.3 -.8 1.8 -.3 06-31 | Medicinal and botanical chemicals 2/................| 133.4 133.4 133.2 3.4 -.1 .8 0 -.1 06-4 | Fats and oils, inedible 2/..........................| 122.2 121.6 125.0 -22.3 2.8 -2.4 -2.3 2.8 06-51 | Mixed fertilizers...................................| 113.9 113.4 113.8 -.4 .4 .9 .4 .6 06-52-01 | Nitrogenates........................................| 138.9 129.6 128.1 4.0 -1.2 .7 .7 -1.2 06-52-02 | Phosphates 2/.......................................| 111.4 109.9 111.9 -.4 1.8 -.7 .9 1.8 06-53 | Other agricultural chemicals........................| 147.3 146.5 146.5 -.5 0 -.5 1.2 -.2 06-6 | Plastic resins and materials 2/.....................| 139.1 137.0 136.0 -1.4 -.7 -.1 -1.7 -.7 07-11-02 | Synthetic rubber 2/.................................| 120.2 118.7 118.7 -2.2 0 -.7 .3 0 07-21 | Plastic construction products 2/....................| 128.4 128.6 127.8 -2.6 -.6 0 .2 -.6 07-22 | Unsupported plastic film, sheet, & other shapes.....| 131.8 132.6 132.1 -.5 -.4 .1 .5 -1.1 07-26 | Plastic parts and components for manufacturing 2/...| 117.3 117.2 117.0 -.3 -.2 .1 0 -.2 08-11 | Softwood lumber 2/..................................| 219.6 207.9 201.5 -1.2 -3.1 -.1 -1.7 -3.1 08-12 | Hardwood lumber 2/..................................| 173.3 175.6 176.3 7.8 .4 .9 .1 .4 08-2 | Millwork 2/.........................................| 171.2 171.3 171.3 1.5 0 .2 -.1 0 08-3 | Plywood 2/..........................................| 158.2 161.4 162.4 -2.6 .6 .1 -.7 .6 09-11 | Woodpulp 2/.........................................| 123.5 132.6 132.9 4.0 .2 3.1 3.0 .2 09-13 | Paper 2/............................................| 142.8 144.6 145.5 1.4 .6 .9 .2 .6 09-14 | Paperboard..........................................| 136.8 142.1 149.8 2.9 5.4 .2 2.8 4.3 09-15-03 | Paper boxes and containers 2/.......................| 142.0 140.8 143.7 -3.3 2.1 -.4 .1 2.1 09-2 | Building paper and board 2/.........................| 128.1 128.0 128.5 -8.5 .4 -.9 -.5 .4 09-37 | Commercial printing (June 1982=100) 2/..............| 147.9 148.6 148.7 -.1 .1 .5 0 .1 10-15 | Foundry and forge shop products.....................| 134.2 134.1 134.1 1.1 0 .2 -.1 .1 10-17 | Steel mill products 2/..............................| 116.2 116.6 116.9 .5 .3 .1 .1 .3 10-22 | Primary nonferrous metals 2/........................| 129.7 127.2 126.6 8.7 -.5 -5.3 1.6 -.5 10-25-01 | Aluminum mill shapes 2/.............................| 146.3 147.6 150.3 5.8 1.8 -.6 .2 1.8 10-25-02 | Copper and brass mill shapes 2/.....................| 180.6 178.6 173.8 2.5 -2.7 -2.7 -1.8 -2.7 10-26 | Nonferrous wire and cable 2/........................| 150.3 148.3 148.2 2.2 -.1 -.7 -1.1 -.1 10-3 | Metal containers 2/.................................| 107.9 107.6 107.8 -1.6 .2 .2 -.2 .2 10-4 | Hardware............................................| 145.5 146.3 146.3 1.5 0 .1 .3 .2 10-5 | Plumbing fixtures and brass fittings................| 175.0 174.7 174.9 1.9 .1 .2 0 .3 10-6 | Heating equipment...................................| 151.7 153.1 152.9 .7 -.1 .5 0 .1 10-7 | Fabricated structural metal products................| 140.2 140.7 140.7 1.7 0 .2 .1 -.1 10-88 | Fabricated ferrous wire products (June 1982=100) 2/.| 127.1 128.5 128.7 1.3 .2 .2 .7 .2 10-89 | Other misc. metal products 2/.......................| 126.2 126.2 126.2 .2 0 .1 0 0 11-45 | Mechanical power transmission equipment.............| 154.8 154.8 154.8 2.2 0 .1 .2 .2 11-48 | Air conditioning and refrigeration equipment........| 132.5 132.9 133.1 .5 .2 .1 .2 .5 11-49-02 | Metal valves, ex.fluid power (Dec. 1982=100) 2/.....| 153.1 154.0 153.7 2.5 -.2 .3 -.1 -.2 11-49-05 | Ball and roller bearings............................| 163.1 163.6 163.4 3.5 -.1 0 .2 .1 11-71 | Wiring devices......................................| 154.3 154.5 154.6 1.8 .1 .3 -.3 .1 11-73 | Motors, generators, motor generator sets............| 145.0 144.8 144.5 -.5 -.2 0 .3 -.1 11-75 | Switchgear, switchboard, etc., equipment............| 145.6 145.5 145.4 2.0 -.1 .3 -.2 .1 11-78 | Electronic components and accessories 2/............| 104.5 103.6 102.9 -4.8 -.7 .2 -1.1 -.7 11-94 | Internal combustion engines.........................| 139.8 140.0 140.0 .4 0 -.1 -.1 .1 11-95 | Machine shop products 2/............................| 135.0 135.3 135.3 .7 0 .1 0 0 13-11 | Flat glass 2/.......................................| 108.2 107.7 107.5 -1.6 -.2 -.1 -.4 -.2 13-22 | Cement..............................................| 139.6 140.4 140.3 2.9 -.1 .6 .5 .2 13-3 | Concrete products...................................| 136.1 135.8 136.0 1.6 .1 .1 -.1 .1 13-6 | Asphalt felts and coatings 2/.......................| 100.2 100.8 100.2 .1 -.6 -.3 .1 -.6 13-7 | Gypsum products 2/..................................| 173.6 168.6 169.7 6.5 .7 -1.9 -.2 .7 13-8 | Glass containers 2/.................................| 125.5 125.9 125.7 -2.8 -.2 0 0 -.2 14-12 | Motor vehicle parts 2/..............................| 115.5 114.7 114.8 -1.3 .1 0 -.6 .1 14-23 | Aircraft engines & engine parts (Dec. 1985=100).....| 135.8 135.3 135.3 .4 0 .1 -.2 .2 14-25 | Aircraft parts & aux.equip.,nec (June 1985=100) 2/..| 141.8 139.9 140.1 .6 .1 -.6 .1 .1 15-42 | Photographic supplies 2/............................| 130.0 129.9 129.9 .2 0 0 2.0 0 15-6 | Medical/surgical/personal aid devices...............| 143.1 143.0 142.8 .5 -.1 -.2 .4 -.4 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 110.4 107.8 108.2 -4.2 .4 -.1 .7 .6 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 117.4 111.7 111.1 -11.0 -.5 .3 -.1 -.3 | | 01-21 | Wheat 2/............................................| 115.2 103.2 104.4 -13.4 1.2 -10.4 4.6 1.2 01-22-02-05| Corn................................................| 114.7 104.4 106.2 -27.1 1.7 .6 3.8 4.4 01-31 | Slaughter cattle....................................| 101.6 97.3 98.6 -3.8 1.3 2.8 -.3 -.3 01-32 | Slaughter hogs......................................| 100.2 93.8 83.6 -7.1 -10.9 2.0 -7.9 -3.3 01-41-02 | Slaughter broilers/fryers...........................| 135.4 156.7 147.9 -5.9 -5.6 10.0 1.0 -6.8 01-42 | Slaughter turkeys...................................| 119.2 121.9 116.5 -4.0 -4.4 -1.2 -3.7 -6.5 01-6 | Fluid milk..........................................| 95.6 93.7 95.3 -20.3 1.7 -3.7 1.6 -.1 01-83-01-31| Soybeans............................................| 149.8 124.5 120.6 -14.5 -3.1 -3.0 -5.0 -4.3 02-52-01-01| Cane sugar,raw 2/...................................| 115.9 118.6 118.3 -.9 -.3 1.6 .9 -.3 | | | CRUDE NONFOOD MATERIALS..............................| 101.8 101.2 102.4 1.6 1.2 -.5 1.3 1.2 | | 01-51-01-01| Raw cotton..........................................| 115.5 120.5 117.6 -4.5 -2.4 8.4 4.6 -.1 01-92-01-01| Leaf tobacco 2/.....................................| (3) 92.0 101.4 -8.2 10.2 (3) (3) 10.2 04-11 | Cattle hides 2/.....................................| 208.9 186.1 180.3 -3.2 -3.1 -9.0 3.3 -3.1 05-1 | Coal 2/.............................................| 95.2 95.0 95.6 2.1 .6 -5.0 2.4 .6 05-31 | Natural gas 2/......................................| 83.7 88.0 94.5 23.4 7.4 -2.4 2.4 7.4 05-61 | Crude petroleum 2/..................................| 60.2 54.9 53.3 -20.7 -2.9 6.2 0 -2.9 08-5 | Logs, timber, etc. 2/...............................| 216.6 217.0 215.7 4.7 -.6 .6 -.3 -.6 09-12 | Wastepaper 2/.......................................| 154.0 193.1 183.7 29.2 -4.9 -.2 18.5 -4.9 10-11 | Iron ore 2/.........................................| 95.2 95.2 95.2 -1.6 0 0 0 0 10-12 | Iron and steel scrap 2/.............................| 185.4 192.6 188.7 -1.6 -2.0 1.6 1.8 -2.0 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 87.4 83.3 79.6 -4.7 -4.4 -6.1 -.2 -4.4 10-23-01 | Copper base scrap 2/................................| 170.3 156.6 153.9 1.3 -1.7 -7.8 -2.5 -1.7 10-23-02 | Aluminum base scrap.................................| 198.9 198.3 193.0 14.6 -2.7 -3.8 2.5 -2.6 13-21 | Construction sand, gravel, and crushed stone........| 148.4 148.8 148.7 1.8 -.1 0 .4 0 ____________________________________________________________________________________________________________________________________ 1/ The indexes for May 1997 have been recalculated to incorporate 2/ Not seasonally adjusted. late reports and corrections by respondents. All indexes are 3/ Not available. 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 | May 1997 | Aug. 1997 |Sept. 1997 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 369.4 | 369.6 | 369.9 | | All commodities................................| 127.4 | 127.2 | 127.5 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 129.4 | 126.7 | 126.7 | 01 | Farm products................................| 117.4 | 111.4 | 111.5 | 02 | Processed foods and feeds....................| 135.4 | 134.3 | 134.2 | | | | | | | Industrial commodities.........................| 127.0 | 127.2 | 127.6 | 03 | Textile products and apparel.................| 122.6 | 122.5 | 122.6 | 04 | Hides, skins, leather, and related products..| 156.1 | 152.3 | 152.1 | 05 | Fuels and related products and power 2/......| 83.4 | 84.6 | 86.2 | 06 | Chemicals and allied products 2/.............| 143.5 | 143.7 | 143.7 | 07 | Rubber and plastic products..................| 123.3 | 123.3 | 123.3 | 08 | Lumber and wood products.....................| 186.8 | 185.1 | 183.7 | 09 | Pulp, paper, and allied products.............| 166.1 | 167.7 | 168.7 | 10 | Metals and metal products....................| 132.2 | 132.2 | 132.0 | 11 | Machinery and equipment......................| 125.9 | 125.8 | 125.6 | 12 | Furniture and household durables.............| 130.9 | 130.9 | 130.9 | 13 | Nonmetallic mineral products.................| 133.3 | 133.3 | 133.3 | 14 | Transportation equipment.....................| 141.5 | 140.3 | 139.3 | 15 | Miscellaneous products.......................| 150.9 | 151.4 | 152.4 | | | | | | | Industrial commodities less fuels and related | | | | | products and power...........................| 139.1 | 139.1 | 138.9 | | | | | | | | | | | | OTHER COMMODITY GROUPINGS | | | | | | | | | 01-1 | Fruits and melons, fresh and dry vegetables, | | | | | and tree nuts................................| 117.5 | 108.2 | 112.0 | 01-2 | Grains.........................................| 116.6 | 106.3 | 107.2 | 01-3 | Slaughter livestock............................| 102.6 | 97.9 | 95.8 | 01-4 | Slaughter poultry..............................| 130.9 | 147.9 | 139.9 | 01-5 | Plant and animal fibers........................| 116.0 | 121.1 | 118.3 | 01-7 | Chicken eggs...................................| 106.2 | 107.7 | 120.0 | 01-8 | Hay, hayseeds, and oilseeds....................| 170.4 | 147.0 | 148.8 | 01-83 | Oilseeds.......................................| 159.1 | 133.9 | 130.2 | 01-9 | Other farm products............................| 'N.A.' | 137.2 | 151.2 | 02-1 | Cereal and bakery products.....................| 158.8 | 157.2 | 157.9 | 02-2 | Meats, poultry, and fish.......................| 121.6 | 120.8 | 118.9 | 02-22 | Processed poultry..............................| 117.1 | 119.7 | 119.0 | 02-5 | Sugar and confectionery........................| 138.4 | 137.9 | 138.6 | 02-6 | Beverages and beverage materials...............| 138.9 | 139.2 | 138.4 | 02-63 | Packaged beverage materials....................| 152.8 | 159.7 | 158.1 | 02-7 | Fats and oils..................................| 130.6 | 128.1 | 129.4 | 03-81 | Apparel........................................| 125.5 | 125.6 | 125.6 | 04-4 | Other leather and related products.............| 143.3 | 143.8 | 143.8 | 05-3 | Gas fuels 2/...................................| 80.0 | 83.5 | 89.2 | 05-4 | Electric power.................................| 129.8 | 135.1 | 137.3 | 05-7 | Refined petroleum products.....................| 67.9 | 67.5 | 68.4 | 06-3 | Drugs and pharmaceuticals......................| 218.3 | 219.1 | 219.0 | 06-5 | Agricultural chemicals and products............| 134.3 | 131.4 | 131.8 | 06-7 | Other chemicals and allied products............| 133.0 | 133.4 | 133.5 | 07-1 | Rubber and rubber products.....................| 116.2 | 115.7 | 115.7 | 07-11 | Rubber, except natural rubber..................| 119.6 | 118.1 | 118.1 | 07-13 | Miscellaneous rubber products..................| 138.0 | 138.1 | 137.7 | 07-2 | Plastic products...............................| 129.9 | 130.1 | 130.1 | 08-1 | Lumber.........................................| 203.3 | 196.0 | 191.8 | 09-1 | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 142.1 | 144.7 | 146.3 | 09-15 | Converted paper and paperboard products........| 146.7 | 146.9 | 148.2 | 10-1 | Iron and steel.................................| 126.0 | 126.9 | 126.8 | 10-2 | Nonferrous metals..............................| 139.1 | 137.4 | 136.5 | 10-25 | Nonferrous mill shapes.........................| 144.6 | 145.2 | 146.1 | 11-3 | Metalworking machinery and equipment...........| 145.3 | 145.7 | 145.7 | 11-4 | General purpose machinery and equipment........| 144.9 | 145.4 | 145.4 | 11-6 | Special industry machinery.....................| 156.4 | 156.8 | 157.1 | 11-7 | Electrical machinery and equipment.............| 122.4 | 122.3 | 122.0 | 11-9 | Miscellaneous machinery and equipment..........| 130.7 | 130.9 | 131.0 | 12-6 | Other household durable goods..................| 150.2 | 149.9 | 149.2 | 13-2 | Concrete ingredients...........................| 142.7 | 143.2 | 143.1 | 14-1 | Motor vehicles and equipment...................| 132.5 | 130.8 | 129.3 | 15-1 | Toys, sporting goods, small arms, etc..........| 131.6 | 132.1 | 132.1 | 15-4 | Photographic equipment and supplies............| 119.8 | 119.7 | 119.8 | 15-9 | Other miscellaneous products...................| 133.4 | 133.8 | 133.7 | __________________________________________________________|___________|___________|___________| 1/ Data for May 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_Sep._1997_from:__ code | |base | | | | | | | |May |Aug. |Sep. | Sep. | Aug. | | |1997 2/|1997 2/|1997 2/| 1996 | 1997 __________________|______________________________________________|_____|_______|_______|_______|________|___________ | | | |Total mining industries...................... |12/84| 80.8 80.4 82.0 0.9 2.0 10 | Metal mining................................ |12/84| 89.7 86.5 83.7 -3.6 -3.2 12 | Coal mining................................. |12/85| 91.7 91.4 91.6 .8 .2 13 | Oil and gas extraction...................... |12/85| 80.2 80.0 82.3 1.2 2.9 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 128.3 129.3 129.2 1.3 -.1 | | | |Total manufacturing industries............... |12/84| 127.6 127.3 127.3 -.2 0 20 | Food and kindred products................... |12/84| 128.9 128.6 128.3 -1.1 -.2 21 | Tobacco manufactures........................ |12/84| 209.2 209.4 218.6 8.8 4.4 22 | Textile mill products....................... |12/84| 118.5 118.9 118.9 .3 0 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 123.3 123.4 123.5 .4 .1 24 | Lumber and wood products, except furniture.. |12/84| 160.7 159.4 158.8 1.4 -.4 25 | Furniture and fixtures...................... |12/84| 138.2 138.3 138.6 1.6 .2 26 | Paper and allied products................... |12/84| 131.5 132.5 134.2 -.7 1.3 27 | Printing, publishing, and allied industries. |12/84| 168.2 168.8 169.1 1.8 .2 28 | Chemicals and allied products............... |12/84| 147.0 147.0 147.0 .1 0 29 | Petroleum refining and related products..... |12/84| 85.5 84.9 86.1 -4.2 1.4 30 | Rubber and miscellaneous plastic products... |12/84| 122.9 123.0 122.9 -.5 -.1 31 | Leather and leather products................ |12/84| 136.9 137.0 137.5 1.6 .4 32 | Stone, clay, glass, and concrete products... |12/84| 127.6 127.4 127.3 .8 -.1 33 | Primary metal industries.................... |12/84| 125.0 125.1 125.2 2.0 .1 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 127.4 127.9 127.9 1.2 0 35 | Machinery, except electrical................ |12/84| 118.5 118.1 118.1 -.8 0 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 111.8 111.1 111.2 -1.6 .1 37 | Transportation equipment.................... |12/84| 133.9 132.8 131.7 -.3 -.8 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 125.7 126.0 126.0 .8 0 39 | Miscellaneous manufacturing industries...... |12/85| 129.1 129.3 129.3 .9 0 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 100.2 100.7 101.0 (3) .3 42 | Motor freight transportation and warehousing |06/93| 108.8 109.3 109.3 2.5 0 43 | United states postal service................ |06/89| 132.3 132.3 132.3 0 0 44 | Water transportation........................ |12/92| 104.3 104.8 104.3 .5 -.5 45 | Transportation by air....................... |12/92| 125.1 126.1 123.3 1.1 -2.2 46 | Pipe lines, except natural gas.............. |12/86| 98.9 98.7 98.7 -2.3 0 80 | Health services............................. |12/94| 105.9 106.1 106.2 1.3 .1 81 | Legal services.............................. |12/96| 102.1 102.3 102.4 (3) .1 ____________________________________________________________________________________________________________________ 1/ Indexes in this table are derived from the net-output-weighted industry price indexes. Because of differences in coverage and aggregation methodology, they will generally not match the movements of similarly-titled indexes which are derived from traditional commodity groupings. 2/ The indexes for May 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 | | | | | | | Apr. | May. | Jun. | Jul. | Aug. | Sep. | 1997 | 1997 | 1997 | 1997 | 1997 | 1997 _______________________________________________________|_________|________|________|________|________|__________ Finished goods...................................| 131.6 131.3 131.1 131.0 131.4 132.0 Finished consumer goods........................| 129.9 129.6 129.4 129.2 129.7 130.4 Finished consumer foods......................| 134.7 135.3 134.0 133.7 134.1 134.2 Crude......................................| 121.8 125.9 116.6 114.6 114.9 120.1 Processed..................................| 135.6 136.0 135.3 135.1 135.5 135.3 Finished consumer goods, excluding foods.....| 127.6 127.0 127.2 127.1 127.7 128.6 Nondurable goods less foods................| 123.2 122.6 123.0 123.1 123.7 124.8 Durable goods..............................| 134.4 133.6 133.6 132.9 133.3 133.9 Capital equipment..............................| 138.4 138.1 138.1 138.0 138.0 138.4 Manufacturing industries.....................| 137.8 137.5 137.6 137.6 137.6 137.8 Nonmanufacturing industries..................| 138.5 138.2 138.2 138.1 138.1 138.6 | Intermediate materials, supplies, and components.| 125.5 125.3 125.3 125.1 125.2 125.6 Materials and components for manufacturing.....| 128.3 128.3 128.4 128.3 128.3 128.4 Materials for food manufacturing.............| 124.2 123.9 122.7 122.0 122.0 122.7 Materials for nondurable manufacturing.......| 128.9 129.1 129.2 129.5 129.8 130.3 Materials for durable manufacturing..........| 133.3 133.4 133.9 133.1 133.1 133.1 Components for manufacturing.................| 126.6 126.5 126.4 126.5 126.2 126.1 Materials and components for construction......| 146.6 147.1 147.0 147.1 147.0 146.8 Processed fuels and lubricants.................| 88.4 87.1 87.4 86.4 87.0 88.2 Manufacturing industries ....................| 90.8 89.5 89.0 88.9 89.2 91.1 Nonmanufacturing industries..................| 86.9 85.6 86.3 84.8 85.6 86.3 Containers.....................................| 135.0 134.6 134.3 133.9 134.0 135.4 Supplies.......................................| 135.9 136.2 135.9 135.9 135.8 136.2 Manufacturing industries.....................| 138.9 139.0 138.9 139.3 139.5 139.6 Nonmanufacturing industries..................| 134.5 134.8 134.4 134.2 133.9 134.4 Feeds......................................| 134.5 137.1 134.1 130.9 128.0 131.9 Other supplies.............................| 134.5 134.5 134.5 134.6 134.7 134.8 | Crude materials for further processing...........| 107.9 110.2 106.8 106.7 107.4 108.0 Foodstuffs and feedstuffs......................| 117.2 117.0 110.7 111.0 110.9 110.6 Nonfood materials..............................| 97.8 101.7 100.4 99.9 101.2 102.4 Nonfood materials except fuel 2/.............| 103.1 105.1 101.1 101.3 102.4 101.1 Manufacturing 2/...........................| 94.5 96.5 92.4 92.6 93.8 92.5 Construction...............................| 201.8 202.8 202.5 202.9 202.7 201.8 Crude fuel 3/................................| 79.6 86.3 89.7 88.2 89.7 95.1 Manufacturing industries...................| 79.2 85.1 88.0 86.8 88.0 92.8 Nonmanufacturing industries................| 80.7 87.7 91.3 89.7 91.3 96.9 | Special groupings | | Finished goods, excluding foods..................| 130.6 130.0 130.2 130.1 130.5 131.3 Intermediate materials less foods and feeds......| 125.4 125.2 125.3 125.1 125.3 125.6 Intermediate foods and feeds.....................| 127.7 128.4 126.6 125.1 124.2 125.9 Crude materials less agricultural products 2/....| 97.3 101.3 99.9 99.2 100.8 101.9 | Finished energy goods............................| 81.9 80.8 81.2 81.3 82.4 83.6 Finished goods less energy.......................| 140.3 140.3 140.0 139.8 139.9 140.4 Finished consumer goods less energy..............| 141.1 141.1 140.7 140.4 140.7 141.1 | Finished goods less foods and energy.............| 142.5 142.2 142.3 142.1 142.2 142.8 Finished consumer goods less foods and energy....| 145.1 144.8 144.9 144.7 144.8 145.5 Consumer nondurable goods less foods and energy..| 152.8 152.9 153.2 153.2 153.3 154.0 | Intermediate energy goods........................| 88.2 86.9 87.1 86.1 86.7 87.9 Intermediate materials less energy...............| 133.7 133.8 133.7 133.7 133.7 133.8 Intermediate materials less foods and energy.....| 134.1 134.2 134.2 134.2 134.3 134.3 | Crude energy materials 2/........................| 76.4 80.8 79.0 78.7 80.0 82.1 Crude materials less energy......................| 126.8 127.1 122.7 122.7 122.9 122.3 Crude nonfood materials less energy 3/...........| 155.3 157.3 157.5 156.7 157.9 156.3 ______________________________________________________________________________________________________________ 1/ All seasonally adjusted indexes are subject to change up to 5 years after original publication due to the recalculation of seasonal factors each January. The indexes for May 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.