FOR DATA ONLY: (202) 606-7828 USDL 99-10 FOR TECHNICAL INFORMATION: TRANSMISSION OF MATERIAL IN (202) 606-7705 THIS RELEASE IS EMBARGOED MEDIA CONTACT: (202) 606-5902 UNTIL 5:00 P.M. (E.S.T), TUESDAY, http://stats.bls.gov/ppihome.htm JANUARY 12, 1999 Producer Price Indexes -- December 1998 The Producer Price Index for Finished Goods rose 0.4 percent in December, seasonally adjusted, the Bureau of Labor Statistics of the U. S. Department of Labor reported today. The increase followed a decline of 0.2 percent in November. The index for finished goods other than foods and energy advanced 1.0 percent in December as a result of a 30.7-percent increase in cigarette prices. Excluding the rise in cigarette prices, the index for finished goods other than foods and energy declined 0.1 percent in December. Prices received by domestic producers of intermediate goods declined 0.6 percent, after decreasing 0.2 percent in November. The crude materials index fell 3.8 percent, following a 1.4-percent drop in the previous month. (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.) 1997 Dec. -0.2 0.0 -0.6 -0.1 -1.2 -0.2 -5.6 1998 Jan. -0.6 -0.4 -3.7 0 -1.7 -0.6 -5.8 Feb. -0.1 0.2 -1.8 0.1 -1.5 -0.3 -1.9 Mar. -0.1 -0.3 -2.3 0.5 -1.5 -0.4 -1.2 Apr. 0.2 0.5 0.1 0.1 -0.9 0.1 1.3 May 0.1 -0.4 0.8 0 -0.8 -0.1 -0.4 June -0.2 0.1 -1.2 -0.1 -0.7 -0.3 -2.6 July 0.2 0.4 -0.1 0.2 -0.2 0 0.1 Aug. r-0.3 r-0.2 r-2.5 r0 -0.8 r-0.3 r-4.0 Sept. r0.2 r0.2 r0 r0.3 -0.9 -0.2 r-1.3 Oct. 0.2 0.4 1.2 0.1 -0.7 -0.2 1.7 Nov. -0.2 -0.5 -1.2 0.1 -0.7 -0.2 -1.4 Dec. 0.4 -0.1 -2.3 1.0 -0.1 -0.6 -3.8 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for August 1998 have been revised to reflect the availability of late reports and corrections by respondents. -2- Among finished goods in December, prices for finished consumer goods other than foods and energy rose 1.7 percent, following a 0.1 percent increase in November. The index for finished consumer foods fell less than in the prior month. By contrast, prices for capital equipment declined, after rising a month ago. The index for finished energy goods fell more than in the previous month. Before seasonal adjustment, the Producer Price Index for Finished Goods rose 0.2 percent in December to stand at 131.0 (1982=100). From December 1997 to December 1998, the finished goods index decreased 0.1 percent, after decreasing 1.2 percent in 1997. Prices for finished energy goods fell 12.1 percent in 1998, following a 6.4-percent drop in 1997. The index for finished consumer foods declined 0.1 percent in 1998, after falling 0.8 percent in 1997. Prices for finished goods other than foods and energy advanced 2.4 percent in 1998, after showing no change in 1997. Excluding cigarettes, the index for finished goods other than foods and energy increased 0.8 percent in 1998. At the earlier stages of processing, prices for intermediate goods dropped 3.1 percent in 1998, after falling 0.8 percent in 1997. The index for crude materials fell 17.6 percent in 1998, following a decrease of 11.3 percent in the previous year. 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.) .) 1997 Dec. -0.6 -1.5 0.0 -0.8 0.0 -13.2 -1.6 -11.3 1998 Jan. -3.6 -2.9 -0.1 -1.7 -3.4 -11.2 -1.9 -19.5 Feb. -0.3 -1.7 -0.1 -1.8 -0.7 -4.3 -0.3 -13.8 Mar. -1.5 -2.2 0 -1.8 0.3 -2.9 -1.4 -7.6 Apr. -0.9 0.6 -0.1 -1.6 0.2 4.5 -1.1 -7.0 May 0.3 0.4 -0.1 -1.5 -0.9 0 0.1 -9.0 June -0.5 -1.5 -0.1 -1.8 0.6 -8.0 -0.4 -8.9 July 0.4 0 -0.1 -1.6 -3.5 6.0 -1.4 -8.4 Aug. r-0.3 r-1.7 r-0.1 -2.1 r-0.8 r-9.0 r-2.6 r-12.3 Sept. r-1.3 r0.1 r-0.2 -2.4 r-2.1 r-0.5 r-0.9 -14.4 Oct. -0.2 0.5 -0.3 -2.5 4.0 1.9 -2.7 -16.7 Nov. 0.6 -0.8 -0.2 -2.9 -1.9 0 -2.5 -19.0 Dec. -0.7 -3.1 -0.2 -3.1 -3.4 -5.2 -2.0 -17.6 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for August 1998 have been revised to reflect the availability of late reports and corrections by respondents. -3- Finished goods The December index for finished consumer goods other than foods and energy rose 1.7 percent, following a 0.1-percent increase in November. From December 1997 to December 1998, this index increased 4.1 percent, after rising 0.3 percent in the previous year. In December, prices for cigarettes jumped 30.7 percent, following a 0.2-percent gain in November. The index for household furniture advanced, after showing no change in the prior month. Prices for men's and boys' apparel rose, following a decline in the previous month. The index for soaps and synthetic detergents showed no change, after falling a month ago. By contrast, prices for alcoholic beverages turned down 0.3 percent, following a 1.2-percent rise in the prior month. The indexes for passenger cars and light motor trucks also turned down, after increasing in November. The index for finished consumer foods decreased 0.1 percent in December, following a 0.5-percent decline in the previous month. This index edged down 0.1 percent during 1998, after falling 0.8 percent in the prior year. In December, prices for fresh and dry vegetables turned up 10.8 percent, following a 16.1-percent drop a month ago. The indexes for fluid milk products, fresh fruits and melons, and eggs for fresh use also rose, after falling last month. By contrast, prices for finfish and shellfish fell 2.1 percent, following a 0.6-percent decline in the previous month. The index for pork also fell more than in the prior month. Prices for natural, processed, and imitation cheese rose less that a month ago. The indexes for beef and veal and processed turkeys fell, after rising a month ago. Prices for capital equipment turned down 0.1 percent in December, following a 0.1-percent rise in November. The capital equipment index declined 0.1 percent during 1998, after decreasing 0.6 percent in the previous year. In December, prices for heavy motor trucks rose 0.1 percent, following a 1.8-percent gain in the prior month. The index for light motor trucks dropped 0.3 percent, after a 0.3-percent rise a month ago. Prices for X-ray and electromedical equipment and for telephone and telegraph equipment also fell, after rising in November. The index for computer printers declined faster than in the previous month. By contrast, prices for photographic equipment turned up 3.5 percent, after a 3.2- percent decline in November. The index for civilian aircraft and railroad equipment also rose, after falling last month. Prices for electronic computers and for transformers and power regulators fell less than in the prior month. The index for finished energy goods fell 2.3 percent in December, following a 1.2-percent decrease in the previous month. From December 1997 to December 1998, this index fell 12.1 percent, after a 6.4-percent decrease in the prior year. In December, the index for residential electric power turned down 0.7 percent, following a 0.3-percent rise in the previous month. Prices for gasoline and home heating oil fell more than last month. By contrast, the index for residential natural gas rose 2.1 percent, after a 0.4-percent increase in the prior month. Prices for finished lubricants fell less than a month ago. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components declined 0.6 percent in December, seasonally adjusted, after registering a 0.2-percent decline in November. Prices for intermediate energy goods fell more than a month ago. The index for intermediate foods and feeds decreased, after increasing in the previous month. By contrast, prices for nondurable manufacturing materials and durable manufacturing materials fell less than last month. The index for materials and components for construction showed no change, following a decline in the prior month. Excluding foods and energy, the index for intermediate materials fell 0.2 percent, the same as in November. (See table B.) -4- The index for intermediate energy goods declined 3.1 percent in December, after posting a 0.8-percent decline in November. From December 1997 to December 1998, prices for intermediate energy goods fell 11.9 percent, following a 7.0-percent drop in 1997. In December, the index for industrial electric power decreased 0.5 percent, after a 1.5-percent increase in the prior month. Prices for jet fuels, diesel fuel, and gasoline fell more than a month ago. The indexes for industrial natural gas and residual fuel declined, following advances a month earlier. By contrast, prices for lubricating and similar oils fell 4.0 percent, after registering a 7.2-percent decrease in the previous month. The index for commercial natural gas also fell less than last month. Prices for intermediate foods and feeds declined 0.7 percent in December, after posting a 0.6-percent advance in November. The index for intermediate foods and feeds fell 7.5 percent during 1998, following a 1.7- percent decline in the previous year. In December, prices for crude vegetable oils decreased 7.3 percent, after a 5.4-percent increase a month ago. The indexes for flour and for beef and veal also declined, following advances a month earlier. Prices for prepared animal feeds and natural, processed, and imitation cheese rose less than in the prior month. The indexes for bulk fluid milk and cream fell more than last month. On the other hand, prices for packaged fluid milk and related products rose 3.8 percent, after registering a 0.2-percent rise in November. The index for shortening and cooking oil also rose more than in the previous month. Prices for nondurable manufacturing materials declined 0.4 percent in December, after posting a 0.6-percent decline in November. For the 12 months ended in December 1998, this index declined 5.0 percent, following a 0.3-percent advance in the previous year. In December, prices for thermoplastic resins fell 1.1 percent, after a 1.9-percent drop a month ago. The index for woodpulp also fell less than last month. Prices for stemmed and redried tobacco rose, after showing no change in the prior month. The indexes for finished fabrics and paint materials increased, after registering decreases a month earlier. Prices for basic organic chemicals rose more than in the previous month. By contrast, the index for fertilizer materials declined 3.9 percent, following a 1.6-percent decline in November. Prices for newsprint and synthetic-broadwoven gray fabrics fell, after rising last month. The index for materials and components for construction showed no change in December, after posting a 0.1-percent decline in November. This index advanced 0.1 percent in 1998, following a 1.2-percent advance during all of 1997. In December, rising prices for softwood lumber, fabricated structural metal products, treated wood, millwork, and prefabricated wood buildings and components offset falling prices for nonferrous wire and cable, steel mill products, prefabricated metal buildings, and gypsum products. The index for durable manufacturing materials decreased 0.5 percent in December, after registering a 0.6-percent decrease in November. During 1998, this index fell 5.1 percent, after showing no change in 1997. In December, declining prices for steel mill products, primary nonferrous metals, aluminum mill shapes, copper and brass mill shapes, and nonferrous wire and cable outweighed rising prices for softwood lumber, secondary aluminum, and cement. Crude Goods The Producer Price Index for Crude Materials for Further Processing decreased 3.8 percent in December, seasonally adjusted, following a 1.4- percent decrease in November. Prices for crude energy materials declined, after showing no change in the prior month. The index for crude foodstuffs and feedstuffs fell more than in the previous month. By contrast, prices for basic industrial materials declined less than a month ago. (See table B.) -5- The index for crude energy dropped 5.2 percent, after showing no change in November. This index fell 26.5 percent during 1998, following a 23.1 percent decrease in 1997. In December, prices for crude petroleum fell 20.2 percent, after a 7.4-percent decline in the prior month. The index for coal decreased 1.7 percent, following a 2.5-percent increase in November. Prices for natural gas rose less than in the previous month. Prices for crude foodstuffs and feedstuffs fell 3.4 percent, following a 1.9-percent decline in November. During 1998, this index decreased 10.8 percent, after falling 4.0 percent in 1997. In December, the index for corn dropped 0.8 percent, after a 7.3-percent rise in the prior month. The wheat index also turned down, following an increase a month ago. Prices for slaughter cattle and slaughter hogs fell more than in the previous month. By contrast, prices for slaughter chickens fell 5.8 percent, after dropping 11.3 percent in the prior month. The index for fresh and dry vegetables rose, following a decrease in the previous month. Prices for crude nonfood materials less energy declined 2.0 percent, after dropping 2.5 percent in November. This index fell 16.0 percent during 1998, after showing no change from December 1996 through December 1997. In December, iron and steel scrap prices increased 0.7 percent, following an 8.5-decrease in the prior month. The indexes for cattle hides and leaf tobacco also turned up after falling in the previous month. On the other hand, prices for raw cotton dropped 15.1 percent, following a 0.2-percent increase a month ago. The index for aluminum base scrap fell, after rising in the prior month. Prices for copper ores decreased more than in the previous month. Net output price indexes for mining, manufacturing, and other industries Mining. The Producer Price Index for the Net Output of Total Mining Industries fell 3.8 percent in December, following a 0.3-percent decline in November. (Net output price indexes are not seasonally adjusted.) In December, prices for the oil and gas extraction industry group moved down 5.0 percent, after showing a 0.5-percent decrease in the prior month. The index for the coal mining industry group turned down 1.0 percent, following a 1.6-percent increase in November. The metal mining industry group index fell 3.2 percent, after falling 2.2 percent in the month before. In December, the Producer Price Index for the Net Output of Total Mining Industries stood at 65.3 (December 1984=100). From December 1997 through December 1998, this index declined 21.5 percent, following a 20.2-percent decrease in the prior year. Manufacturing. The Producer Price Index for the Net Output of Total Manufacturing Industries decreased 0.3 percent in December, after decreasing 0.2 percent in November. The index for the petroleum refining and related products industry group fell 11.3 percent, following a 4.0- percent decline in November. By contrast, the index for tobacco manufactures rose 27.4 percent, following a 0.3-percent advance in the prior month. Among other manufacturing industries in December, decreases were registered for food and kindred products, transportation equipment, and for chemicals and allied products. In December, the Producer Price Index for the Net Output of Total Manufacturing Industries stood at 125.8 (December 1984=100). From December 1997 through December 1998, this index declined 0.9 percent, following a 0.8-percent decrease in 1997. -6- Other. Among other industries in December, price declines were registered for operators and lessors of nonresidential buildings, telephone communications (except radiotelephone), passenger car rental (without drivers), travel agencies, hotels and motels, and Mississippi River transportation of freight. These decreases more than offset price increases for offices and clinics of doctors of medicine; scheduled air transportation; airports, flying fields, and airport services; and engineering services. ***** Producer Price Index data for January 1999 will be released on Thursday, February 18, 1999 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| |Dec. 1998 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | Aug. |Nov. |Dec. | Dec. | Nov. |Sept.to|Oct. to |Nov. to | 1997 1/|1998 2/|1998 2/|1998 2/| 1997 | 1998 | Oct. | Nov. | Dec. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 130.7 130.8 131.0 -0.1 0.2 0.2 -0.2 0.4 Finished consumer goods........................| 74.755 129.2 129.0 129.3 -.1 .2 .3 -.3 .5 Finished consumer foods......................| 23.199 135.2 134.7 134.3 -.1 -.3 .4 -.5 -.1 Crude......................................| 1.761 121.7 126.3 128.5 -4.0 1.7 9.7 -6.3 2.2 Processed..................................| 21.438 136.3 135.3 134.8 .3 -.4 -.4 0 -.3 Finished consumer goods, excluding foods.....| 51.556 126.4 126.3 126.9 -.2 .5 .3 -.2 .8 Nondurable goods less foods................| 35.297 122.7 121.4 122.4 -.5 .8 .3 -.2 1.1 Durable goods..............................| 16.259 131.5 134.2 133.8 .3 -.3 .1 .2 -.1 Capital equipment..............................| 25.245 136.8 138.1 137.8 -.1 -.2 0 .1 -.1 Manufacturing industries.....................| 6.590 137.8 138.2 138.1 .4 -.1 .1 .1 0 Nonmanufacturing industries..................| 18.655 136.4 137.9 137.6 -.3 -.2 0 .1 -.1 | Intermediate materials, supplies, and components.| 100.000 123.2 121.8 121.1 -3.1 -.6 -.2 -.2 -.6 Materials and components for manufacturing.....| 47.584 126.0 124.7 124.3 -2.9 -.3 -.4 -.3 -.3 Materials for food manufacturing.............| 3.500 124.6 125.3 123.9 .6 -1.1 .7 .1 -1.0 Materials for nondurable manufacturing.......| 16.157 126.3 124.1 123.7 -5.0 -.3 -.7 -.6 -.4 Materials for durable manufacturing..........| 10.575 127.8 125.3 124.7 -5.1 -.5 -.9 -.6 -.5 Components for manufacturing.................| 17.352 125.8 125.7 125.8 -.2 .1 0 -.1 .1 Materials and components for construction......| 13.519 147.4 146.6 146.6 .1 0 -.3 -.1 0 Processed fuels and lubricants.................| 13.015 82.2 78.9 76.0 -11.7 -3.7 .5 -.7 -3.1 Manufacturing industries ....................| 4.844 87.1 84.0 82.2 -8.2 -2.1 -.6 .9 -2.1 Nonmanufacturing industries..................| 8.171 79.2 75.8 72.3 -13.9 -4.6 1.2 -1.7 -3.9 Containers.....................................| 3.784 140.7 139.6 138.8 -.8 -.6 -.6 -.4 -.6 Supplies.......................................| 22.098 134.7 134.2 134.3 -1.3 .1 -.1 .1 0 Manufacturing industries.....................| 4.941 140.6 140.6 140.6 .3 0 .1 -.1 0 Nonmanufacturing industries..................| 17.157 132.1 131.5 131.5 -1.8 0 -.2 .2 0 Feeds......................................| 1.618 98.0 92.4 92.5 -25.0 .1 -2.5 2.1 .1 Other supplies.............................| 15.539 136.3 136.2 136.2 .6 0 0 0 0 | Crude materials for further processing...........| 100.000 94.3 92.9 88.8 -17.6 -4.4 1.7 -1.4 -3.8 Foodstuffs and feedstuffs......................| 42.088 103.3 102.4 97.2 -10.8 -5.1 4.0 -1.9 -3.4 Nonfood materials..............................| 57.912 84.7 83.0 79.8 -22.7 -3.9 0 -1.1 -4.0 Nonfood materials except fuel 3/.............| 33.172 80.1 77.4 72.4 -26.7 -6.5 -2.5 -3.9 -6.8 Manufacturing 3/...........................| 31.843 72.6 70.1 65.3 -27.7 -6.8 -2.5 -4.1 -7.2 Construction...............................| 1.329 192.9 188.5 190.0 -4.8 .8 -.6 -1.3 .2 Crude fuel 4/................................| 24.740 84.4 83.9 83.7 -17.0 -.2 3.6 2.8 -.2 Manufacturing industries...................| 2.039 83.4 81.4 81.9 -16.3 .6 3.4 1.8 .6 Nonmanufacturing industries................| 22.701 86.0 85.7 85.3 -17.2 -.5 3.5 3.1 -.5 | Special groupings | | Finished goods, excluding foods..................|5/ 76.801 129.2 129.6 129.9 -.2 .2 .2 -.1 .5 Intermediate materials less foods and feeds......|6/ 94.882 123.6 122.2 121.5 -2.9 -.6 -.2 -.2 -.6 Intermediate foods and feeds.....................|6/ 5.118 116.5 115.2 114.2 -7.5 -.9 -.2 .6 -.7 Crude materials less agricultural products 3/ 7/.|8/ 55.307 83.8 81.8 78.8 -23.3 -3.7 -.1 -1.1 -3.8 | Finished energy goods............................|5/ 13.585 75.4 72.9 70.5 -12.1 -3.3 1.2 -1.2 -2.3 Finished goods less energy.......................|5/ 86.415 141.1 141.9 142.8 1.8 .6 .1 -.1 .7 Finished consumer goods less energy..............|5/ 61.170 142.7 143.4 144.8 2.5 1.0 .1 -.1 1.0 | Finished goods less foods and energy.............|5/ 63.216 143.3 144.7 146.0 2.4 .9 .1 .1 1.0 Finished consumer goods less foods and energy....|5/ 37.971 147.5 149.0 151.5 4.1 1.7 0 .1 1.7 Consumer nondurable goods less foods and energy..|5/ 21.712 159.8 160.2 165.2 6.9 3.1 -.1 .2 3.1 | Intermediate energy goods........................|6/ 13.123 81.9 78.7 75.7 -11.9 -3.8 .5 -.8 -3.1 Intermediate materials less energy...............|6/ 86.877 132.4 131.4 131.2 -1.9 -.2 -.4 -.2 -.2 Intermediate materials less foods and energy.....|6/ 81.759 133.4 132.4 132.3 -1.5 -.1 -.3 -.2 -.2 | Crude energy materials 3/........................|8/ 36.418 64.5 65.4 62.0 -26.5 -5.2 1.9 0 -5.2 Crude materials less energy......................|8/ 63.582 112.5 109.3 105.0 -12.6 -3.9 1.7 -2.1 -2.9 Crude nonfood materials less energy 4/...........|8/ 21.494 139.8 130.0 128.1 -16.0 -1.5 -2.7 -2.5 -2.0 | _______________________________________________________________________________________________________________________________ 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 August 1998 have been recalculated to incorporate further processing, excluding crude late reports and corrections by respondents. All indexes foodstuffs and feedstuffs, plant and are subject to revision 4 months after original publication. animal fibers, oilseeds, and leaf tobacco." 8/ Percent of total crude materials. Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing (1982=100 unless otherwise indicated) ____________________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | | Unadjusted index |change to |percent change from: Commodity | | |Dec. 1998 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Aug. |Nov. |Dec. | Dec. | Nov. |Sept.to|Oct. to|Nov. to | |1998 1/|1998 1/|1998 1/| 1997 | 1998 | Oct. | Nov. | Dec. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 130.7 130.8 131.0 -0.1 0.2 0.2 -0.2 0.4 | FINISHED CONSUMER GOODS...............................| 129.2 129.0 129.3 -.1 .2 .3 -.3 .5 | FINISHED CONSUMER FOODS..............................| 135.2 134.7 134.3 -.1 -.3 .4 -.5 -.1 | | 01-11 | Fresh fruits and melons 2/..........................| 91.8 85.4 86.6 -20.6 1.4 .9 -6.9 1.4 01-13 | Fresh and dry vegetables 2/.........................| 116.4 124.5 137.9 8.8 10.8 13.5 -16.1 10.8 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 91.3 100.3 102.9 -6.2 2.6 10.2 -7.1 1.9 02-11 | Bakery products 2/..................................| 175.9 176.3 176.7 1.0 .2 .4 .1 .2 02-13 | Milled rice 2/......................................| 123.4 127.4 128.1 .9 .5 2.5 -.2 .5 02-14-02 | Pasta products (June 1985=100) 2/...................| 122.9 122.8 122.6 -.8 -.2 0 -.1 -.2 02-21-01 | Beef and veal.......................................| 100.8 99.9 98.5 -3.0 -1.4 -2.1 .8 -.3 02-21-04 | Pork................................................| 104.9 83.9 80.6 -26.9 -3.9 -4.2 -3.2 -4.8 02-22-03 | Processed young chickens............................| 137.6 126.0 119.1 5.5 -5.5 -2.9 -4.2 -4.3 02-22-06 | Processed turkeys...................................| 97.3 102.1 98.0 -1.4 -4.0 3.7 .4 -1.6 02-23 | Finfish and shellfish...............................| 179.8 185.4 174.9 -3.7 -5.7 -3.9 -.6 -2.1 02-3 | Dairy products......................................| 140.1 148.6 148.5 10.8 -.1 1.6 -.1 1.1 02-4 | Processed fruits and vegetables 2/..................| 126.2 126.6 126.7 1.4 .1 -.9 1.1 .1 02-55 | Confectionery end products 2/.......................| 169.4 169.9 170.1 1.1 .1 .2 .1 .1 02-62 | Soft drinks.........................................| 134.7 134.7 134.9 2.0 .1 -.1 .1 .2 02-63-01 | Roasted coffee 2/...................................| 141.8 137.7 138.7 -8.3 .7 -4.4 1.4 .7 02-76 | Shortening and cooking oils 2/......................| 149.0 143.5 148.2 5.3 3.3 .1 .6 3.3 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 126.4 126.3 126.9 -.2 .5 .3 -.2 .8 | | 02-61 | Alcoholic beverages.................................| 134.8 136.4 136.4 1.4 0 -.1 1.2 -.3 03-81-01 | Women's apparel 2/..................................| 121.7 122.1 122.1 .7 0 .5 .1 0 03-81-02 | Men's and boys' apparel.............................| 133.5 133.2 133.4 .7 .2 -.1 -.1 .1 03-81-03 | Girls', children's, and infants' apparel 2/.........| 121.2 121.9 121.8 -.4 -.1 1.2 0 -.1 03-82 | Textile housefurnishings 2/.........................| 122.9 123.2 123.2 .2 0 .3 0 0 04-3 | Footwear............................................| 144.6 144.9 145.2 .7 .2 0 .1 .2 05-41 | Residential electric power (Dec. 1990=100)..........| 114.1 108.5 107.7 -2.4 -.7 .1 .3 -.7 05-51 | Residential gas (Dec. 1990=100).....................| 113.3 114.2 115.9 -3.5 1.5 1.1 .4 2.1 05-71 | Gasoline............................................| 51.6 49.4 42.6 -34.1 -13.8 5.7 -6.9 -8.4 05-73-02-01| Fuel oil No. 2......................................| 43.1 45.6 39.8 -34.4 -12.7 -.4 -5.6 -11.4 06-35 | Pharmaceutical preps, ethical (Prescription)........| 332.4 333.2 333.4 20.1 .1 0 .2 -.1 06-36 | Pharmaceutical preps,proprietary (Over-counter).....| 184.5 184.8 184.8 -.1 0 -.3 .2 -.3 06-71 | Soaps and synthetic detergents 2/...................| 126.3 125.2 125.2 -1.3 0 -.5 -.7 0 06-75 | Cosmetics and other toilet preparations 2/..........| 133.3 133.6 134.0 2.4 .3 -.7 .2 .3 07-12 | Tires, tubes, tread, etc 2/.........................| 93.7 94.0 94.0 -.1 0 -.1 .1 0 09-15-01 | Sanitary papers and health products 2/..............| 146.5 145.3 145.4 -.8 .1 -.3 .8 .1 09-31-01 | Newspaper circulation 2/............................| 202.7 202.8 202.8 .4 0 0 0 0 09-32-01 | Periodical circulation..............................| 193.7 194.6 194.3 2.6 -.2 -.2 .3 .1 09-33 | Book publishing 2/..................................| 203.8 209.3 210.0 3.0 .3 2.3 .3 .3 12-1 | Household furniture 2/..............................| 148.5 149.0 149.4 1.8 .3 .3 0 .3 12-3 | Floor coverings 2/..................................| 128.6 128.3 128.3 -.2 0 -.2 .8 0 12-4 | Household appliances 2/.............................| 109.1 109.0 109.0 -.1 0 .2 0 0 12-5 | Home electronic equipment 2/........................| 74.9 74.5 74.4 -1.8 -.1 -3.0 0 -.1 12-62 | Household glassware 2/..............................| 163.0 162.9 163.0 .4 .1 -.1 -.1 .1 12-64 | Household flatware 2/...............................| 138.3 139.4 139.4 .1 0 -.5 .8 0 12-66 | Lawn and garden equip., ex. tractors 2/.............| 131.6 132.2 132.2 .9 0 -.1 0 0 14-11-01 | Passenger cars......................................| 128.4 135.4 134.2 .6 -.9 .5 .2 -.4 15-11 | Toys, games, and children's vehicles................| 124.5 124.0 123.7 -1.0 -.2 .1 .2 -.3 15-12 | Sporting and athletic goods 2/......................| 126.3 126.4 126.3 1.1 -.1 .2 0 -.1 15-2 | Tobacco products 2/.................................| 286.4 288.1 363.9 41.2 26.3 0 .2 26.3 15-5 | Mobile homes 2/.....................................| 154.5 155.3 154.8 1.2 -.3 .1 .1 -.3 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 127.7 128.4 128.6 -.1 .2 .4 .1 .2 15-94-04 | Costume jewelry and novelties 2/....................| 139.8 139.8 139.8 .7 0 0 .2 0 | | | CAPITAL EQUIPMENT.....................................| 136.8 138.1 137.8 -.1 -.2 0 .1 -.1 | | 11-1 | Agricultural machinery and equipment 2/.............| 150.4 149.7 149.6 -.1 -.1 .5 -.1 -.1 11-2 | Construction machinery and equipment................| 145.4 145.1 145.4 1.6 .2 -.2 .1 .3 11-37 | Metal cutting machine tools 2/......................| 159.9 160.3 160.2 1.5 -.1 -.2 .2 -.1 11-38 | Metal forming machine tools 2/......................| 158.1 158.6 158.6 1.9 0 0 .1 0 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 138.7 139.0 139.0 .5 0 .1 .1 0 11-41 | Pumps, compressors, and equipment...................| 149.2 149.2 149.5 1.5 .2 -.2 .2 .1 11-44 | Industrial material handling equipment 2/...........| 131.8 131.7 131.9 1.3 .2 .2 -.2 .2 11-51 | Electronic computers (Dec. 1990=100) 2/.............| 23.4 22.2 22.0 -25.9 -.9 -2.2 -1.8 -.9 11-62 | Textile machinery 2/................................| 152.4 152.8 152.8 .1 0 0 0 0 11-64 | Paper industries machinery (June 1982=100)..........| 159.8 162.3 162.2 1.8 -.1 .2 1.2 .1 11-65 | Printing trades machinery 2/........................| 143.1 142.1 142.1 2.2 0 .2 -1.0 0 11-74 | Transformers and power regulators 2/................| 130.5 131.7 131.3 .6 -.3 0 -.5 -.3 11-76 | Communication & related equip. (Dec. 1985=100) 2/...| 113.6 113.7 113.4 -1.2 -.3 .1 .1 -.3 11-79-05 | X-ray and electromedical equipment 2/...............| 106.4 106.9 105.9 -.9 -.9 -.3 .9 -.9 11-91 | Oil field and gas field machinery 2/................| 125.9 126.4 126.4 1.4 0 .4 .2 0 11-92 | Mining machinery and equipment 2/...................| 142.2 142.3 142.3 .4 0 -.2 .1 0 11-93 | Office and store machines and equipment 2/..........| 112.3 112.3 112.2 -.3 -.1 -.2 .1 -.1 12-2 | Commercial furniture 2/.............................| 155.2 155.3 155.3 .1 0 0 .1 0 14-11-05 | Light motor trucks..................................| 152.4 159.0 158.3 1.1 -.4 0 .3 -.3 14-11-06 | Heavy motor trucks 2/...............................| 141.6 145.4 145.6 4.1 .1 .4 1.8 .1 14-14 | Truck trailers 2/...................................| 135.3 135.3 135.3 1.9 0 -.5 .5 0 14-21-02 | Civilian aircraft (Dec. 1985=100)...................| 149.8 150.1 150.2 .1 .1 .1 -.1 .2 14-31 | Ships (Dec. 1985=100) 2/............................| 145.8 145.8 145.8 .3 0 0 0 0 14-4 | Railroad equipment..................................| 135.3 134.1 133.8 -.4 -.2 -.1 -1.2 .1 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 123.2 121.8 121.1 -3.1 -.6 -.2 -.2 -.6 | | | INTERMEDIATE FOODS AND FEEDS..........................| 116.5 115.2 114.2 -7.5 -.9 -.2 .6 -.7 | | 02-12-03 | Flour 2/............................................| 104.3 110.4 107.1 -5.8 -3.0 6.1 1.2 -3.0 02-53 | Refined sugar 2/....................................| 119.5 119.6 119.7 .1 .1 -.7 -.3 .1 02-54 | Confectionery materials.............................| 93.2 92.9 92.8 -1.0 -.1 3.2 -.9 .2 02-72 | Crude vegetable oils 2/.............................| 127.9 131.0 121.5 -3.1 -7.3 -5.4 5.4 -7.3 02-9 | Prepared animal feeds 2/............................| 106.0 101.1 101.3 -20.9 .2 -2.1 1.4 .2 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 123.6 122.2 121.5 -2.9 -.6 -.2 -.2 -.6 | | 03-1 | Synthetic fibers 2/.................................| 110.8 106.8 107.2 -2.9 .4 -1.5 -.5 .4 03-2 | Processed yarns and threads 2/......................| 112.8 111.3 111.1 -3.1 -.2 -.6 -.5 -.2 03-3 | Gray fabrics 2/.....................................| 121.4 119.1 119.0 -3.0 -.1 -1.7 .3 -.1 03-4 | Finished fabrics....................................| 124.2 122.6 122.6 -.8 0 -.5 -.6 .1 03-83-03 | Industrial textile products 2/......................| 130.2 130.6 130.9 .2 .2 .2 -.1 .2 04-2 | Leather.............................................| 179.5 177.7 178.0 -2.4 .2 0 -1.3 .1 05-32 | Liquefied petroleum gas 2/..........................| 54.5 55.3 52.1 -35.8 -5.8 2.1 1.5 -5.8 ____________________________________________________________________________________________________________________________________ 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 | | |Dec. 1998 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Aug. |Nov. |Dec. | Dec. | Nov. |Sept.to|Oct. to|Nov. to | |1998 1/|1998 1/|1998 1/| 1997 | 1998 | Oct. | Nov. | Dec. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 137.8 126.5 126.7 -0.6 0.2 0.7 -0.1 -0.2 05-43 | Industrial electric power...........................| 135.2 127.5 127.5 -.6 0 -.5 1.5 -.5 05-52 | Commercial natural gas (Dec. 1990=100)..............| 103.7 109.4 111.3 -4.1 1.7 .1 -.7 -.2 05-53 | Industrial natural gas (Dec. 1990=100)..............| 99.6 110.3 106.8 -8.2 -3.2 -1.9 4.7 -4.8 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 74.6 86.2 81.4 -24.6 -5.6 8.7 -3.0 -6.3 05-72-03 | Jet fuels...........................................| 43.5 46.0 35.5 -39.1 -22.8 4.6 -6.4 -20.6 05-73-03 | No. 2 Diesel fuel...................................| 44.4 45.9 38.9 -34.0 -15.3 -5.8 -1.8 -10.5 05-74 | Residual fuel 2/....................................| 38.2 39.1 36.3 -39.0 -7.2 -5.6 .3 -7.2 06-1 | Industrial chemicals 2/.............................| 120.4 119.6 119.8 -5.0 .2 0 -.1 .2 06-21 | Prepared paint......................................| 155.1 156.2 156.4 2.4 .1 .2 .6 .1 06-22 | Paint materials 2/..................................| 144.3 143.6 144.6 1.5 .7 .8 -.7 .7 06-31 | Medicinal and botanical chemicals 2/................| 135.2 135.2 135.2 .1 0 0 0 0 06-4 | Fats and oils, inedible 2/..........................| 115.6 113.2 110.5 -22.6 -2.4 2.4 -.4 -2.4 06-51 | Mixed fertilizers...................................| 115.0 113.7 113.4 -.3 -.3 -.9 -.3 -.1 06-52-01 | Nitrogenates........................................| 106.8 98.5 95.7 -19.2 -2.8 -4.3 -3.1 -5.5 06-52-02 | Phosphates 2/.......................................| 114.1 115.0 113.5 3.5 -1.3 .7 .2 -1.3 06-53 | Other agricultural chemicals........................| 149.1 149.6 149.4 -.7 -.1 .3 -.8 -.4 06-6 | Plastic resins and materials 2/.....................| 123.7 117.1 115.9 -13.4 -1.0 -3.3 -1.6 -1.0 07-11-02 | Synthetic rubber 2/.................................| 117.3 116.1 115.7 -2.7 -.3 -.6 -.2 -.3 07-21 | Plastic construction products 2/....................| 125.7 124.7 124.7 -2.3 0 -.3 -.2 0 07-22 | Unsupported plastic film, sheet, & other shapes.....| 127.9 126.5 126.5 -3.8 0 .2 -.9 0 07-26 | Plastic parts and components for manufacturing 2/...| 117.0 116.9 117.1 0 .2 0 0 .2 08-11 | Softwood lumber 2/..................................| 183.4 169.4 174.2 -10.6 2.8 -1.8 -1.1 2.8 08-12 | Hardwood lumber 2/..................................| 178.7 176.9 176.3 -1.1 -.3 -.4 -.3 -.3 08-2 | Millwork 2/.........................................| 170.8 171.4 171.6 .4 .1 .3 -.2 .1 08-3 | Plywood 2/..........................................| 167.6 162.0 161.6 5.2 -.2 -8.3 3.0 -.2 09-11 | Woodpulp 2/.........................................| 123.3 113.3 112.4 -15.7 -.8 -.8 -4.5 -.8 09-13 | Paper...............................................| 145.3 144.8 143.5 -2.7 -.9 .1 -.7 -1.2 09-14 | Paperboard..........................................| 150.9 145.9 144.3 -7.6 -1.1 -2.2 -1.2 -1.0 09-15-03 | Paper boxes and containers 2/.......................| 154.6 152.5 151.2 -.5 -.9 -1.1 -.6 -.9 09-2 | Building paper and board 2/.........................| 141.9 131.6 130.5 -.4 -.8 -3.2 -2.4 -.8 09-37 | Commercial printing (June 1982=100) 2/..............| 152.3 153.0 152.8 1.3 -.1 .4 -.1 -.1 10-15 | Foundry and forge shop products.....................| 135.0 134.7 134.7 .4 0 0 -.2 .1 10-17 | Steel mill products 2/..............................| 114.3 110.7 109.5 -5.8 -1.1 -1.4 -.9 -1.1 10-22 | Primary nonferrous metals 2/........................| 103.0 100.6 98.8 -15.7 -1.8 .3 -2.0 -1.8 10-25-01 | Aluminum mill shapes 2/.............................| 140.8 138.4 137.1 -8.5 -.9 -.8 -1.0 -.9 10-25-02 | Copper and brass mill shapes 2/.....................| 149.5 149.7 147.2 -11.1 -1.7 -.9 -.7 -1.7 10-26 | Nonferrous wire and cable 2/........................| 141.3 138.0 136.3 -5.4 -1.2 -.3 -1.5 -1.2 10-3 | Metal containers 2/.................................| 108.5 108.6 108.6 -.3 0 0 .1 0 10-4 | Hardware............................................| 147.1 147.1 147.2 .6 .1 -.1 .3 .1 10-5 | Plumbing fixtures and brass fittings................| 175.2 174.5 174.4 .1 -.1 0 .3 .3 10-6 | Heating equipment...................................| 153.2 153.5 153.3 .3 -.1 .3 .1 -.1 10-7 | Fabricated structural metal products................| 142.9 143.1 143.0 1.3 -.1 .1 0 .1 10-88 | Fabricated ferrous wire products (June 1982=100) 2/.| 130.3 130.6 130.3 .9 -.2 .1 .2 -.2 10-89 | Other misc. metal products 2/.......................| 126.2 126.1 126.1 -.2 0 0 .1 0 11-45 | Mechanical power transmission equipment.............| 157.7 158.3 159.0 2.2 .4 .5 .3 .1 11-48 | Air conditioning and refrigeration equipment........| 135.0 136.1 136.1 2.5 0 0 0 .2 11-49-02 | Metal valves, ex.fluid power (Dec. 1982=100) 2/.....| 156.7 158.6 159.0 3.2 .3 0 1.1 .3 11-49-05 | Ball and roller bearings............................| 165.3 165.7 166.0 1.6 .2 -.1 .1 .2 11-71 | Wiring devices......................................| 154.9 152.6 152.5 -1.4 -.1 .1 -1.2 0 11-73 | Motors, generators, motor generator sets............| 146.1 146.1 145.7 .4 -.3 .1 .2 -.3 11-75 | Switchgear, switchboard, etc., equipment............| 148.3 149.7 149.5 1.8 -.1 .5 .1 .1 11-78 | Electronic components and accessories 2/............| 99.6 99.6 99.5 -1.9 -.1 .1 -.4 -.1 11-94 | Internal combustion engines.........................| 141.0 141.1 141.0 .4 -.1 .1 0 .1 11-95 | Machine shop products 2/............................| 136.5 136.6 136.6 .8 0 .1 .1 0 13-11 | Flat glass 2/.......................................| 106.7 106.9 106.9 -1.5 0 -.2 .1 0 13-22 | Cement..............................................| 147.8 148.3 148.3 5.4 0 .3 .5 .5 13-3 | Concrete products...................................| 141.3 141.5 141.4 3.6 -.1 -.1 -.1 0 13-6 | Asphalt felts and coatings 2/.......................| 100.1 100.1 100.2 1.4 .1 .1 -.4 .1 13-7 | Gypsum products 2/..................................| 179.6 186.5 183.7 6.7 -1.5 .7 3.6 -1.5 13-8 | Glass containers 2/.................................| 126.2 126.0 126.0 .1 0 0 0 0 14-12 | Motor vehicle parts 2/..............................| 114.7 114.2 114.1 -1.0 -.1 0 -.1 -.1 14-23 | Aircraft engines & engine parts (Dec. 1985=100).....| 136.6 136.2 138.6 2.7 1.8 -.7 .2 1.4 14-25 | Aircraft parts & aux.equip.,nec (June 1985=100) 2/..| 142.8 143.3 143.4 1.6 .1 -.1 .1 .1 15-42 | Photographic supplies 2/............................| 129.0 129.0 129.0 -1.2 0 0 0 0 15-6 | Medical/surgical/personal aid devices...............| 143.2 143.7 143.9 .6 .1 0 .1 .3 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 94.3 92.9 88.8 -17.6 -4.4 1.7 -1.4 -3.8 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 103.3 102.4 97.2 -10.8 -5.1 4.0 -1.9 -3.4 | | 01-21 | Wheat 2/............................................| 76.7 89.9 85.9 -15.0 -4.4 14.6 4.9 -4.4 01-22-02-05| Corn................................................| 80.2 84.1 83.6 -22.5 -.6 13.9 7.3 -.8 01-31 | Slaughter cattle....................................| 89.6 91.2 85.7 -12.0 -6.0 1.6 -2.1 -3.7 01-32 | Slaughter hogs......................................| 58.0 30.2 16.6 -76.8 -45.0 .4 -30.9 -46.2 01-41-02 | Slaughter broilers/fryers...........................| 184.1 157.2 141.4 20.5 -10.1 6.2 -11.2 -6.0 01-42 | Slaughter turkeys...................................| 118.8 138.1 123.6 9.7 -10.5 4.7 -2.0 -3.4 01-6 | Fluid milk..........................................| 115.8 130.6 133.5 26.7 2.2 4.4 3.7 4.5 01-83-01-31| Soybeans 2/.........................................| 93.7 96.0 92.7 -21.3 -3.4 1.9 4.1 -3.4 02-52-01-01| Cane sugar,raw 2/...................................| 118.2 116.5 117.9 1.1 1.2 -.3 .8 1.2 | | | CRUDE NONFOOD MATERIALS..............................| 84.7 83.0 79.8 -22.7 -3.9 0 -1.1 -4.0 | | 01-51-01-01| Raw cotton..........................................| 116.6 112.3 98.7 -8.0 -12.1 -2.7 .2 -15.1 01-92-01-01| Leaf tobacco 2/.....................................| 95.2 106.4 112.6 -.3 5.8 5.3 -2.9 5.8 04-11 | Cattle hides 2/.....................................| 164.4 130.5 143.2 -22.8 9.7 -13.0 -7.5 9.7 05-1 | Coal 2/.............................................| 90.7 93.7 92.1 -6.3 -1.7 .4 2.5 -1.7 05-31 | Natural gas 2/......................................| 82.1 79.9 80.3 -20.8 .5 5.0 2.7 .5 05-61 | Crude petroleum 2/..................................| 30.4 32.7 26.1 -48.6 -20.2 -2.2 -7.4 -20.2 08-5 | Logs, timber, etc...................................| 204.7 198.6 199.6 -6.0 .5 -1.0 -1.1 -.1 09-12 | Wastepaper 2/.......................................| 145.5 126.9 116.5 -28.8 -8.2 -4.3 -4.3 -8.2 10-11 | Iron ore 2/.........................................| 95.5 95.6 95.7 .5 .1 -.1 -.1 .1 10-12 | Iron and steel scrap 2/.............................| 162.5 117.9 118.7 -39.8 .7 -12.4 -8.5 .7 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 64.5 64.2 61.1 -11.2 -4.8 -3.2 -2.7 -4.8 10-23-01 | Copper base scrap 2/................................| 111.8 109.8 100.5 -23.1 -8.5 .5 -1.3 -8.5 10-23-02 | Aluminum base scrap.................................| 149.9 147.6 144.4 -24.6 -2.2 2.5 .1 -3.8 13-21 | Construction sand, gravel, and crushed stone........| 153.6 153.6 154.0 3.4 .3 .2 .2 .4 ____________________________________________________________________________________________________________________________________ 1/ The indexes for August 1998 have been recalculated to incorporate 2/ Not seasonally adjusted. late reports and corrections by respondents. All indexes are 3/ Not available. subject to revision 4 months after original publication. Table 3. Producer price indexes for selected commodity groupings (1982=100 unless otherwise indicated) _______________________________________________________________________________________________ | | | | | Unadjusted index 1/ | Commodity| |___________________________________| code | Grouping | Aug. 1998 | Nov. 1998 | Dec. 1998 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 366.7 | 367.1 | 367.6 | | All commodities................................| 124.2 | 123.5 | 122.7 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 122.8 | 122.3 | 120.4 | 01 | Farm products................................| 102.9 | 102.8 | 99.1 | 02 | Processed foods and feeds....................| 132.6 | 131.9 | 131.0 | | | | | | | Industrial commodities.........................| 124.5 | 123.7 | 123.1 | 03 | Textile products and apparel.................| 122.9 | 122.0 | 122.1 | 04 | Hides, skins, leather, and related products..| 149.7 | 144.7 | 146.6 | 05 | Fuels and related products and power 2/......| 74.8 | 72.8 | 69.9 | 06 | Chemicals and allied products 2/.............| 144.1 | 143.0 | 142.9 | 07 | Rubber and plastic products..................| 122.3 | 122.0 | 122.1 | 08 | Lumber and wood products.....................| 179.7 | 175.0 | 176.1 | 09 | Pulp, paper, and allied products.............| 171.8 | 171.0 | 170.3 | 10 | Metals and metal products....................| 127.2 | 124.8 | 124.2 | 11 | Machinery and equipment......................| 124.7 | 124.7 | 124.5 | 12 | Furniture and household durables.............| 131.3 | 131.3 | 131.4 | 13 | Nonmetallic mineral products.................| 136.2 | 136.7 | 136.6 | 14 | Transportation equipment.....................| 140.0 | 142.4 | 142.2 | 15 | Miscellaneous products.......................| 156.3 | 156.2 | 166.1 | | | | | | | Industrial commodities less fuels and related | | | | | products and power...........................| 138.8 | 138.4 | 138.7 | | | | | | | | | | | | OTHER COMMODITY GROUPINGS | | | | | | | | | 01-1 | Fruits and melons, fresh and dry vegetables, | | | | | and tree nuts................................| 108.9 | 109.3 | 115.6 | 01-2 | Grains.........................................| 82.5 | 88.5 | 87.1 | 01-3 | Slaughter livestock............................| 82.1 | 74.9 | 67.3 | 01-4 | Slaughter poultry..............................| 167.8 | 151.4 | 136.2 | 01-5 | Plant and animal fibers........................| 115.8 | 110.9 | 97.7 | 01-7 | Chicken eggs...................................| 107.7 | 124.7 | 121.5 | 01-8 | Hay, hayseeds, and oilseeds....................| 115.9 | 117.8 | 113.9 | 01-83 | Oilseeds.......................................| 104.6 | 108.8 | 105.5 | 01-9 | Other farm products............................| 142.0 | 158.7 | 167.9 | 02-1 | Cereal and bakery products.....................| 156.6 | 157.8 | 157.5 | 02-2 | Meats, poultry, and fish.......................| 116.8 | 110.8 | 107.6 | 02-22 | Processed poultry..............................| 128.4 | 122.0 | 117.1 | 02-5 | Sugar and confectionery........................| 134.6 | 134.6 | 134.8 | 02-6 | Beverages and beverage materials...............| 137.0 | 137.3 | 137.4 | 02-63 | Packaged beverage materials....................| 138.7 | 135.3 | 136.1 | 02-7 | Fats and oils..................................| 139.9 | 141.1 | 140.0 | 03-81 | Apparel........................................| 126.5 | 126.6 | 126.7 | 04-4 | Other leather and related products.............| 144.6 | 144.7 | 144.7 | 05-3 | Gas fuels 2/...................................| 73.9 | 72.5 | 72.0 | 05-4 | Electric power.................................| 135.2 | 126.9 | 126.6 | 05-7 | Refined petroleum products.....................| 49.1 | 48.4 | 41.8 | 06-3 | Drugs and pharmaceuticals......................| 247.2 | 247.5 | 248.0 | 06-5 | Agricultural chemicals and products............| 128.9 | 127.4 | 126.1 | 06-7 | Other chemicals and allied products............| 134.7 | 134.8 | 135.0 | 07-1 | Rubber and rubber products.....................| 115.2 | 115.1 | 115.1 | 07-11 | Rubber, except natural rubber..................| 116.7 | 115.5 | 115.1 | 07-13 | Miscellaneous rubber products..................| 138.7 | 138.6 | 138.6 | 07-2 | Plastic products...............................| 128.9 | 128.5 | 128.7 | 08-1 | Lumber.........................................| 180.0 | 169.7 | 172.9 | 09-1 | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 147.2 | 144.6 | 143.4 | 09-15 | Converted paper and paperboard products........| 152.5 | 150.9 | 150.3 | 10-1 | Iron and steel.................................| 122.6 | 115.8 | 115.0 | 10-2 | Nonferrous metals..............................| 120.5 | 118.3 | 116.5 | 10-25 | Nonferrous mill shapes.........................| 134.9 | 133.4 | 131.9 | 11-3 | Metalworking machinery and equipment...........| 147.3 | 147.5 | 147.5 | 11-4 | General purpose machinery and equipment........| 147.5 | 148.2 | 148.4 | 11-6 | Special industry machinery.....................| 159.3 | 160.2 | 160.1 | 11-7 | Electrical machinery and equipment.............| 120.7 | 120.7 | 120.5 | 11-9 | Miscellaneous machinery and equipment..........| 132.0 | 132.1 | 132.3 | 12-6 | Other household durable goods..................| 151.4 | 151.7 | 151.8 | 13-2 | Concrete ingredients...........................| 148.9 | 149.1 | 149.3 | 14-1 | Motor vehicles and equipment...................| 129.6 | 133.4 | 132.8 | 15-1 | Toys, sporting goods, small arms, etc..........| 132.6 | 132.5 | 132.4 | 15-4 | Photographic equipment and supplies............| 114.7 | 113.3 | 114.3 | 15-9 | Other miscellaneous products...................| 134.5 | 134.8 | 134.6 | __________________________________________________________|___________|___________|___________| 1/ Data for August 1998 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_Dec._1998_from: code | |base | | | | | | | |Aug. |Nov. |Dec. | Dec. | Nov. | | |1998 2/|1998 2/|1998 2/| 1997 | 1998 __________________|______________________________________________|_____|_______|_______|_______|________|_________ | | | |Total mining industries...................... |12/84| 67.7 67.9 65.3 -21.5 -3.8 10 | Metal mining................................ |12/84| 71.6 71.2 68.9 -7.9 -3.2 12 | Coal mining................................. |12/85| 87.6 89.4 88.5 -5.0 -1.0 13 | Oil and gas extraction...................... |12/85| 64.6 64.6 61.4 -27.3 -5.0 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 132.8 132.8 132.6 2.1 -.2 | | | |Total manufacturing industries............... |12/84| 126.0 126.2 125.8 -.9 -.3 20 | Food and kindred products................... |12/84| 127.4 126.5 126.0 -.9 -.4 21 | Tobacco manufactures........................ |12/84| 246.4 247.8 315.7 44.0 27.4 22 | Textile mill products....................... |12/84| 118.7 117.9 117.8 -1.2 -.1 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 124.9 125.0 125.0 .6 0 24 | Lumber and wood products, except furniture.. |12/84| 158.2 155.2 155.7 -1.4 .3 25 | Furniture and fixtures...................... |12/84| 139.7 139.9 140.1 .9 .1 26 | Paper and allied products................... |12/84| 136.3 134.8 134.0 -2.4 -.6 27 | Printing, publishing, and allied industries. |12/84| 173.7 175.0 174.9 2.1 -.1 28 | Chemicals and allied products............... |12/84| 149.1 148.2 147.9 .4 -.2 29 | Petroleum refining and related products..... |12/84| 63.6 62.9 55.8 -29.5 -11.3 30 | Rubber and miscellaneous plastic products... |12/84| 121.9 121.6 121.7 -.9 .1 31 | Leather and leather products................ |12/84| 137.1 136.5 136.7 -.5 .1 32 | Stone, clay, glass, and concrete products... |12/84| 130.1 130.5 130.2 2.0 -.2 33 | Primary metal industries.................... |12/84| 120.6 118.2 117.2 -5.4 -.8 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 128.8 129.0 128.8 .5 -.2 35 | Machinery, except electrical................ |12/84| 117.5 117.4 117.4 -.5 0 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 110.3 110.0 109.8 -.9 -.2 37 | Transportation equipment.................... |12/84| 132.2 135.2 134.8 .8 -.3 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 125.9 125.8 126.1 .2 .2 39 | Miscellaneous manufacturing industries...... |12/85| 129.8 129.9 129.8 .5 -.1 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 101.7 101.6 101.4 .4 -.2 42 | Motor freight transportation and warehousing |06/93| 112.1 112.4 112.6 2.9 .2 43 | United states postal service................ |06/89| 132.3 132.3 132.3 0 0 44 | Water transportation........................ |12/92| 108.1 105.8 106.0 2.6 .2 45 | Transportation by air....................... |12/92| 124.3 125.9 126.5 2.6 .5 46 | Pipe lines, except natural gas.............. |12/86| 99.2 99.2 99.2 .5 0 80 | Health services............................. |12/94| 107.9 108.2 108.3 1.8 .1 81 | Legal services.............................. |12/96| 106.4 106.6 106.7 2.5 .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 August 1998 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. 3/ Not available. Table 5. Producer price indexes by stage of processing, seasonally adjusted (1982=100) ____________________________________________________________________________________________________________ | | Index 1/ |____________________________________________________ Grouping | | | | | | | July | Aug. | Sep. | Oct. | Nov. | Dec. | 1998 | 1998 | 1998 | 1998 | 1998 | 1998 _______________________________________________________|________|________|________|________|________|_______ Finished goods...................................| 130.7 130.3 130.6 130.9 130.7 131.2 Finished consumer goods........................| 129.1 128.5 128.9 129.3 128.9 129.5 Finished consumer foods......................| 134.6 134.3 134.6 135.1 134.4 134.2 Crude......................................| 127.9 119.2 122.1 133.9 125.4 128.2 Processed..................................| 135.1 135.5 135.6 135.1 135.1 134.7 Finished consumer goods, excluding foods.....| 126.5 125.9 126.2 126.6 126.4 127.4 Nondurable goods less foods................| 122.4 121.6 121.8 122.2 121.9 123.3 Durable goods..............................| 132.6 132.3 133.2 133.3 133.5 133.3 Capital equipment..............................| 137.4 137.2 137.6 137.6 137.7 137.6 Manufacturing industries.....................| 137.9 137.8 137.9 138.0 138.1 138.1 Nonmanufacturing industries..................| 137.1 136.9 137.3 137.3 137.5 137.4 | Intermediate materials, supplies, and components.| 123.2 122.8 122.5 122.3 122.0 121.3 Materials and components for manufacturing.....| 126.1 126.0 125.6 125.1 124.7 124.3 Materials for food manufacturing.............| 122.9 123.8 123.9 124.8 124.9 123.7 Materials for nondurable manufacturing.......| 127.1 126.5 125.7 124.8 124.0 123.5 Materials for durable manufacturing..........| 127.8 127.8 127.2 126.0 125.3 124.7 Components for manufacturing.................| 125.8 125.8 125.8 125.8 125.7 125.8 Materials and components for construction......| 147.1 147.4 147.3 146.8 146.7 146.7 Processed fuels and lubricants.................| 81.2 79.8 79.9 80.3 79.7 77.2 Manufacturing industries ....................| 86.1 84.8 85.1 84.6 85.4 83.6 Nonmanufacturing industries..................| 78.1 76.7 76.7 77.6 76.3 73.3 Containers.....................................| 141.4 140.8 140.9 140.1 139.5 138.7 Supplies.......................................| 135.1 134.8 134.3 134.2 134.3 134.3 Manufacturing industries.....................| 140.7 140.6 140.6 140.7 140.6 140.6 Nonmanufacturing industries..................| 132.5 132.2 131.6 131.4 131.6 131.6 Feeds......................................| 101.4 98.0 92.8 90.5 92.4 92.5 Other supplies.............................| 136.4 136.3 136.3 136.3 136.3 136.3 | Crude materials for further processing...........| 97.6 93.7 92.5 94.1 92.8 89.3 Foodstuffs and feedstuffs......................| 102.5 101.7 99.6 103.6 101.6 98.1 Nonfood materials..............................| 90.6 84.8 84.2 84.2 83.3 80.0 Nonfood materials except fuel 2/.............| 85.3 80.2 83.3 81.2 78.0 72.7 Manufacturing 2/...........................| 77.5 72.6 75.6 73.7 70.7 65.6 Construction...............................| 194.7 196.0 194.1 193.0 190.5 190.9 Crude fuel 3/................................| 90.7 84.4 78.8 81.6 83.9 83.7 Manufacturing industries...................| 88.6 83.4 77.4 80.0 81.4 81.9 Nonmanufacturing industries................| 92.5 86.0 80.3 83.1 85.7 85.3 | Special groupings | | Finished goods, excluding foods..................| 129.5 129.0 129.3 129.6 129.5 130.1 Intermediate materials less foods and feeds......| 123.6 123.2 123.0 122.7 122.4 121.7 Intermediate foods and feeds.....................| 116.3 115.9 114.4 114.2 114.9 114.1 Crude materials less agricultural products 2/....| 89.8 83.8 83.0 82.9 82.0 78.9 | Finished energy goods............................| 75.4 73.5 73.5 74.4 73.5 71.8 Finished goods less energy.......................| 141.1 141.0 141.5 141.7 141.6 142.6 Finished consumer goods less energy..............| 142.6 142.5 143.1 143.3 143.1 144.6 | Finished goods less foods and energy.............| 143.6 143.6 144.1 144.2 144.4 145.8 Finished consumer goods less foods and energy....| 147.7 147.9 148.5 148.5 148.7 151.3 Consumer nondurable goods less foods and energy..| 159.2 159.8 160.2 160.1 160.4 165.3 | Intermediate energy goods........................| 80.9 79.5 79.6 80.0 79.4 76.9 Intermediate materials less energy...............| 132.6 132.4 132.1 131.6 131.4 131.2 Intermediate materials less foods and energy.....| 133.6 133.5 133.2 132.8 132.5 132.3 | Crude energy materials 2/........................| 70.9 64.6 64.2 65.4 65.4 62.0 Crude materials less energy......................| 113.0 111.4 109.5 111.4 109.1 105.9 Crude nonfood materials less energy 3/...........| 143.8 140.0 138.7 134.9 131.5 128.9 _____________________________________________________________________________________________________________ 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 August 1998 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.