No change in producer prices in 1998

August 19, 1999

Prices received by domestic producers of finished goods showed no change last year, after falling 1.2 percent in 1997.

Annual percent changes for finished goods, Producer Price Index, 1994-98
[Chart data—TXT]

A decline in the energy index restrained the growth of producer prices in 1998. Energy prices were down by 11.7 percent, while food prices were barely changed, with a rise of 0.1 percent. For items other than food and energy, prices increased by 2.5 percent in 1998.

The Producer Price Index for finished goods last rose in 1996, when it was up by 2.8 percent. This gain reflected an 11.7-percent increase in energy prices and a 3.4-percent rise in food prices. Prices of goods other than food and energy advanced by just 0.6 percent in 1996. The rise in prices of finished goods in 1996 was the biggest gain in the past eight years.

Data on prices received by producers come from the BLS Producer Price Index program. More information is available in the BLS publication "PPI Detailed Report: Data for 1998." Annual percent changes are December-to-December changes. Note that this edition of The Editor’s Desk updates an article that appeared here earlier this year: "Producer prices edged down 0.1 percent in 1998" (01/14/1999). The Producer Price Index has been revised since the prior article appeared in January.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, No change in producer prices in 1998 on the Internet at http://www.bls.gov/opub/ted/1999/aug/wk3/art04.htm (visited July 01, 2016).

OF INTEREST

Recent editions of Spotlight on Statistics

  • A look at healthcare spending, employment, pay, benefits, and prices
    As one of the largest U.S. industries, healthcare is steadily growing to meet the needs of an increasing population with an increasing life expectancy. This Spotlight looks at how much people spend on healthcare, current and projected employment in the industry, employer-provided healthcare benefits, healthcare prices, and pay for workers in healthcare occupations.

  • Employment and Wages in Healthcare Occupations
    Healthcare occupations are a significant percentage of U.S. employment. Some of the largest and highest paying occupations are in healthcare. This Spotlight examines employment and wages for healthcare occupations.

  • Fifty years of looking at changes in peoples lives
    Longitudinal surveys help us understand long-term changes, such as how events that happened when a person was in high school affect labor market success as an adult.