FOR DATA ONLY: (202) 606-7828 USDL 98-64 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.S.T), WEDNESDAY, http://stats.bls.gov/ppihome.htm FEBRUARY 18, 1998 Producer Price Indexes - January 1998 The Producer Price Index for Finished Goods declined 0.7 percent in January, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This decline was led by a sharp drop for finished energy prices and followed decreases of 0.2 percent in both December and November. The index for finished goods other than foods and energy declined 0.1 percent for the third consecutive month. Prices received by producers of intermediate goods fell 0.6 percent in January, after decreasing 0.3 percent in the prior month. The crude goods index declined 4.5 percent, following a decrease of 5.2 percent in December. (See table A.) Among finished goods in January, the index for energy goods fell 3.7 percent, following a decrease of 0.8 percent in the previous month. Prices for finished consumer foods fell more than in December. The index for finished consumer goods other than foods and energy decreased, after showing no change a month ago. Prices for capital equipment fell less than in the prior month. 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 Jan. 0.0 -0.4 0.8 0.0 2.5 0.2 3.8 Feb. -0.3 -0.4 -1.2 0 2.2 -0.1 -8.4 Mar. -0.2 0.9 -2.6 0.1 1.5 -0.3 -7.7 Apr. -0.4 -0.4 -2.2 0 0.8 -0.3 0.5 May -0.2 0.4 -1.0 -0.2 0.4 -0.1 1.9 June -0.2 -0.8 -0.2 0 -0.1 -0.1 -2.7 July -0.2 -0.3 -0.5 -0.1 -0.2 -0.2 -0.5 Aug. 0.2 -0.1 0.9 0.1 -0.2 0.1 0.4 Sept. 0.4 0 1.1 0.4 0 0.2 1.3 Oct. 0.1 0.6 -0.1 0 -0.2 -0.1 3.6 Nov. -0.2 -0.3 -0.6 -0.1 -0.6 0.2 1.8 Dec. -0.2 -0.1 -0.8 -0.1 -1.2 -0.3 -5.2 1998 Jan. -0.7 -0.4 -3.7 -0.1 -1.8 -0.6 -4.5 NOTE: Some percent changes shown here and elsewhere in this release may differ from those previously reported because seasonal adjustment factors have been recalculated to reflect developments during 1997. In addition, indexes for September 1997 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision four months after original publication. -2- Before seasonal adjustment, the Producer Price Index for Finished Goods fell 0.7 percent in January to 130.2 (1982=100). From January 1997 to January 1998, the Finished Goods Price Index moved down 1.8 percent, the largest 12-month decline since December 1986, when the index dropped 2.3 percent, also largely reflecting falling energy prices. Over the past 12 months, prices for finished consumer foods fell 1.0 percent, the index for finished energy goods decreased 10.5 percent, and prices for finished goods other than food and energy fell 0.1 percent. Prices received by domestic producers of intermediate goods decreased 1.7 percent for the 12 months ended in January, and the index for crude goods fell 18.7 percent during this period. Finished Goods Prices for finished energy goods declined 3.7 percent in January, following a decrease of 0.8 percent in the prior month. Prices for gasoline fell 7.9 percent, after advancing 0.9 percent in December. The indexes for residential electric power, residential natural gas, and home heating oil decreased more in January than in the previous month. Price declines slowed, however, for finished lubricants. Prices for finished consumer foods declined 0.4 percent in January, after falling 0.1 percent in the previous month. The index for fresh fruits and melons fell 18.5 percent, after advancing 22.2 percent in December. Prices for dairy products and soft drinks also turned down, after increasing in the prior month. The indexes for pork, finfish and shellfish, and milled rice decreased more than a month ago. By contrast, prices for fresh and dry vegetables rose 12.9 percent, following a 2.5 percent decline in December. The indexes for beef and veal, processed young chickens, and for shortening and cooking oils rose, after falling in the previous month. Prices for eggs for fresh use fell less than in December. 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 Jan. -0.3 1.3 0.1 0.9 -1.0 8.9 1.9 16.1 Feb. -0.1 -1.0 0.1 1.1 -1.7 -17.9 0.9 4.5 Mar. 1.8 -3.3 0 0.6 1.7 -21.3 0.2 -2.2 Apr. 0.4 -2.2 0 -0.1 3.0 -0.9 -2.1 -5.7 May 0.4 -1.4 0.1 -0.6 -0.9 5.8 1.4 -4.7 June -1.3 0.1 0 -0.3 -4.7 -2.0 -0.2 -5.5 July -1.7 -0.9 0.1 -0.3 -0.6 -0.1 -0.5 -7.4 Aug. -0.4 0.6 0 -0.2 -0.4 0.8 1.3 -7.3 Sept. 1.1 0.6 0.1 -0.6 -0.3 4.4 -0.7 -3.9 Oct. -2.4 0.1 0 -0.4 0.5 9.3 0.2 0.3 Nov. 1.6 0.6 0.1 -0.1 0.3 5.0 -0.8 -0.9 Dec. -0.9 -1.6 -0.1 -0.8 0 -12.6 -1.4 -11.7 1998 Jan. -3.2 -2.9 -0.1 -1.7 -3.3 -7.3 -2.2 -18.7 NOTE: Some percent changes shown here and elsewhere in this release may differ from those previously reported because seasonal adjustment factors have been recalculated to reflect developments during 1997. In addition, indexes for September 1997 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision four months after original publication. -3- The index for finished consumer goods other than foods and energy edged down 0.1 percent in January, after showing no change in December. Price decreases for passenger cars, light trucks, men's and boys' apparel, periodicals, and tobacco products outweighed increases for prescription drugs, alcoholic beverages, household furniture, and cosmetics. The index for capital equipment edged down 0.1 in January, after moving down 0.2 percent in December. Price decreases for light motor trucks, electronic computers and civilian aircraft more than offset increases for truck trailers, heavy trucks, and for communication and related equipment. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components fell 0.6 percent in January, seasonally adjusted, after falling 0.3 percent a month earlier. Prices for intermediate energy goods, foods and feeds, and durable manufacturing materials also fell more than in December. The index for construction materials declined, after showing no change a month ago. Conversely, nondurable manufacturing materials fell less than in the previous month. Excluding food and energy, the intermediate materials index decreased 0.1 percent for the second consecutive month. (See table B.) Prices for intermediate energy goods decreased 2.9 percent in January, following a 1.6-percent drop in December. The index for gasoline fell 7.9 percent, after rising 0.9 percent a month ago. Prices for industrial and commercial electric power also turned down, after rising in the prior month. The index for liquefied petroleum gas decreased more than in December. By contrast, prices for industrial natural gas declined 3.6 percent, less than the 6.1-percent drop last month. The indexes for diesel fuel and residual fuel also fell less than in the previous month. The index for intermediate foods and feeds decreased 3.2 percent in January, following a 0.9-percent decline in December. Prices for prepared animal feeds dropped 4.7 percent, after a slight 0.2-percent decline in the prior month. The indexes for pork, fluid milk products, and flour also fell more than a month ago. By contrast, the index for confectionery materials turned up 2.7 percent, after dropping 4.6 percent in December. Prices for beef and veal also rose, after falling in the prior month. The index for durable manufacturing materials declined 0.7 percent in January, after falling 0.6 percent in the prior month. Price declines for building paper and board, copper and brass mill shapes, aluminum mill shapes, copper cathode, and cold rolled sheet and strip outweighed price increases for hot rolled sheet and strip, hardwood lumber, and hot rolled bars, plates, and structural shapes. Prices for construction materials fell 0.2 percent in January, after showing no change in December. The index for softwood lumber dropped 2.5 percent, after a slight 0.1-percent decline a month ago. Prices for plastic construction products, wiring devices, and millwork fell, after rising in the previous month. The index for fabricated structural metal products showed no change, after increasing 0.1 percent in December. By contrast, prices for fabricated ferrous wire products rose 0.2 percent, after falling 0.2 percent in the prior month. The indexes for plywood and nonferrous wire and cable fell less than a month ago. The index for nondurable manufacturing materials edged down 0.1 percent in January, following a 0.3-percent decrease last month. Price decreases for fertilizer materials, industrial chemicals, inedible fats and oils, and leather outweighed price increases for paper, paperboard, plastic resins and materials, and gray fabrics. -4- Crude goods The Producer Price Index for Crude Materials for Further Processing declined 4.5 percent in January, seasonally adjusted, following a 5.2- percent drop in December. Prices for crude energy materials, foodstuffs and feedstuffs, and basic industrial materials all fell in January. (See table B.) The index for crude energy materials decreased 7.3 percent, after a 12.6-percent fall in December. Prices for crude petroleum declined 12.8 percent, following a 9.9-percent decrease in the prior month. The index for natural gas dropped 6.9 percent, following a drop of 18.7 percent in December. Prices for coal showed no change in January. Prices for crude foodstuffs and feedstuffs declined 3.3 percent in January, after showing no change in the prior month. The index for slaughter cattle fell 2.8 percent, following a 1.3-percent gain in December. Prices for corn and for fresh fruits and melons also turned down after rising a month ago. The indexes for slaughter hogs and wheat fell more than in the previous month. By contrast, prices for slaughter broilers and fryers turned up 6.2 percent, after declining 0.2 percent last month. The index for fresh and dry vegetables also rose, after falling in December. Prices for unprocessed shellfish and soybeans fell less than a month ago. The index for crude nonfood materials less energy declined 2.2 percent, following a 1.4-percent decline in the prior month. Prices for leaf tobacco turned down 1.6 percent, after gaining 8.8 percent last month. The indexes for cattle hides, aluminum base scrap, and copper base scrap fell more than in the prior month. Prices for pulpwood logs showed no change, following an increase in December. On the other hand, the indexes for nonferrous metal ores and raw cotton declined less than a month ago. Prices for hardwood logs, bolts, and timber rose 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 domestic mining industries fell 5.9 percent in January, following a 9.9-percent decline in December. (Net output price indexes are not seasonally adjusted.) The index for the oil and gas extraction industry group decreased 7.7 percent, after a 12.6-percent decline one month ago. Prices for the metal mining industry group fell 1.3 percent, following a 6.0- percent drop in the previous month. The index for the non-metallic mineral mining industry group rose 0.5 percent, after a 0.2-percent decrease last month. By contrast, prices for the coal mining industry group declined 0.1 percent, following a 1.3-percent advance in the prior month. In January, the Producer Price Index for the net output of total domestic mining industries stood at 77.9 (December 1984=100), 30.0 percent below its year- ago level. Manufacturing. The Producer Price Index for the net output of total domestic manufacturing industries declined 0.6 percent in January, following a 0.4-percent decrease in December. Prices for the petroleum refining and the food and kindred products industry groups fell more than in the previous month. The indexes for the lumber and wood products and tobacco manufactures declined, after increasing one month ago. Prices for the paper and allied products industry group rose less than in the prior month. By contrast, the indexes for the printing and publishing and the apparel industry groups rose more than last month. Prices for the furniture and fixtures, fabricated metal products, and miscellaneous manufacturing industry groups increased, after showing no change in the previous month. The indexes for the chemicals and allied products, non- metallic mineral products, and the leather and leather products industry groups rose, after falling a month earlier. The indexes for the primary metals, transportation equipment, and electrical machinery industry groups declined less than last month. In January, the Producer Price Index for the net output of the total domestic manufacturing sector stood at 126.3 (December 1984=100), 1.4 percent below its year-ago level. -5- Other. Among other industries in January, the indexes for offices and clinics of doctors of medicine, cable and other pay television services, general medical and surgical hospitals, and legal services rose more than a month ago. Prices for freight transportation on the Great Lakes-St. Lawrence Seaway, crude petroleum pipelines, courier services (except by air), help supply services, and architectural services advanced, after showing no change in December. The indexes for skilled and intermediate care facilities, tugging and towing services, engineering services, and general warehousing and storage also increased, after showing no change in the prior month. Prices for operators and lessors of nonresidential buildings, trucking (except local), and advertising agencies advanced, after declining in the previous month. The index for hotels and motels showed no change in January after falling last month. The indexes for travel agencies, freight transportation arrangement, and nonscheduled air transportation declined less than in the prior month. By contrast, prices for deep-sea domestic transportation of freight, scrap and waste materials collection, Mississippi River transportation, and telephone communications (except radiotelephone) declined more than in the previous month. The index for refined petroleum pipelines fell, after showing no change in December. Prices for radio broadcasting, airports and airport services, home health care services, deep-sea foreign transportation of freight, passenger car rental (without drivers), and scheduled air passenger transportation declined, after advancing a month earlier. The indexes for electric power utilities, psychiatric hospitals, employment agencies, and refrigerated warehousing and storage also fell, after rising last month. The index for building cleaning and maintenance services was unchanged, after increasing in the previous month. ***** Producer Price Index data for February 1998 will be released on Friday, March 13, 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. PPI Commodity Weight Allocations to Stage-of-Processing Indexes Updated Effective with this release, the Bureau of Labor Statistics updated the weight allocations used to calculate the stage-of-processing (SOP) indexes, found in table 1 of the press release and of the PPI Detailed Report, to more accurately reflect recent marketing patterns. While PPI weights will continue to be based on shipment values from the 1992 economic census, the proportion of these weights allocated to the various SOP categories within and, in some cases, across the Finished, Intermediate, and Crude goods stages changed. The new allocations are based primarily on data contained in the Input/Output Accounts published by the Bureau of Economic Analysis. It is important to note that the allocation update does not affect the PPI classification system, reference base, or aggregation structure. It did, however, result in some significant shifts in the relative importance of component series in the stage-of-processing indexes. The allocation update does not affect the industry SOP indexes found in tables 10 and 11 of the PPI Detailed Report. Relative importances as of December 1997, based on both the former and revised weight allocations, are available on the BLS ftp site at ftp://ftp.bls.gov. Choose the "pub" directory, the "special.requests" directory, and the "ppi" directory. The revised SOP relative importances are in the file, "sopnew.txt". The information may also be requested from the Division of Industrial Prices and Price Indexes, Section of Index Analysis, at 202-606-7705. For further information on this change, please contact Angelo Maggi on (202) 606-7729, or Scott Sager on (202) 606-7700, ext. 211. -6- Resampling of Industries Effective with this release, another set of new and resampled industries is introduced. Two (2) mining industries and twenty-seven (27) manufacturing industries were resampled this month. In addition, a service industry, prepackaged computer software, was introduced into the PPI sample for the first time. Indexes for these industries appear in table 5 of the PPI Detailed Report. Under the resampling procedure, the sample for an industry is updated to reflect current conditions more accurately when the structure, membership, technology, or product mix of an industry has shifted significantly. The Bureau of Labor Statistics published the first results of this systematic process in July 1986. Subsequent efforts have been completed at 6-month intervals. Standard Industrial Classification (SIC) Code Industry 1011 Iron ores 1455 Kaolin and ball clay 2015 Poultry slaughtering and processing 2048 Prepared animal feeds, not elsewhere classified 2064 Candy and other confectionery products and chewing gum 2085 Distilled spirits, except brandy 2253 Knit outerwear 2329 Men's and boys' clothing, not elsewhere classified 2361 Girls', children's, and infants' dresses 2369 Girls', children's, and infants' outerwear, not elsewhere classified 2392 House furnishings, not elsewhere classified 2396 Automotive trimmings, apparel findings, and related products 2434 Wood kitchen cabinets 2675 Die-cut paper and board 2677 Envelopes 2812 Alkalies and chlorine 2816 Inorganic pigments 2893 Printing ink 3111 Leather tanning and finishing 3296 Mineral wool 3446 Architectural and ornamental metalwork 3448 Prefabricated metal buildings 3548 Gas and electric welding and soldering 3549 Metalworking machinery, not elsewhere classified 3561 Pumps and pumping equipment 3594 Fluid power pumps and motors 3716 Motor homes built on purchased chassis 3792 Travel trailers and campers 7372* Prepackaged computer software For information on specific additions, deletions, and recodes of indexes that are effective this month, see tables 12 through 18 in the January 1998 issue of the Producer Price Index Detailed Report. *See " New Producer Price Index for Prepackaged Software - SIC 7372" in the January 1998 issue of the Producer Price Index Detailed Report. -7- Recalculation of seasonal adjustment factors Effective with this release, seasonal adjustment factors have been recalculated to reflect 1997 price movement patterns for stage-of- processing (SOP) and commodity groupings. This routine annual recalculation may affect seasonally adjusted indexes and percent changes from January 1993 to the present. Revised seasonally adjusted data for this period, as well as seasonal factors for commodity indexes to be used through December 1998, are available on request from BLS. The table below shows 1997 monthly seasonally adjusted percent changes for the three major SOP categories calculated with the old seasonal factors, compared with the percent changes for recalculated indexes. The latter incorporate new seasonal factors that reflect 1997 price movement patterns. Over-the-month percent changes in major stage-of-processing indexes, seasonally adjusted, using former and recalculated seasonal factors for 1997 Finished Goods Intermediate Goods Crude Goods Month Former Recalculated Former Recalculated Former Recalculated January -0.3 0.0 0.2 0.2 3.8 3.8 February -0.3 -0.3 -0.2 -0.1 -8.3 -8.4 March -0.2 -0.2 -0.4 -0.3 -7.7 -7.7 April -0.5 -0.4 -0.3 -0.3 0.6 0.5 May -0.2 -0.2 -0.2 -0.1 2.1 1.9 June -0.2 -0.2 0 -0.1 -3.2 -2.7 July -0.1 -0.2 -0.1 -0.2 -0.1 -0.5 August 0.3 0.2 0.2 0.1 0.6 0.4 September 0.5 0.4 0.2 0.2 1.0 1.3 October 0.1 0.1 -0.1 -0.1 3.7 3.6 November -0.2 -0.2 0.2 0.2 1.6 1.8 December -0.2 -0.2 -0.2 -0.3 -5.6 -5.2 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| |Jan. 1998 from:| | |_______________________|_______________|_______________________________ | Dec. | | | | | | | | | Sept. |Dec. |Jan. | Jan. | Dec. |Oct. to|Nov. to |Dec. to | 1997 1/|1997 2/|1997 2/|1998 2/| 1997 | 1997 | Nov. | Dec. | Jan. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|____________ | Finished goods...................................| 100.000 131.8 131.1 130.2 -1.8 -0.7 -0.2 -0.2 -0.7 Finished consumer goods........................| 74.733 130.5 129.4 128.2 -2.1 -.9 -.2 -.2 -.8 Finished consumer foods......................| 23.171 134.7 134.2 132.8 -1.0 -1.0 -.3 -.1 -.4 Crude......................................| 1.751 123.5 133.0 126.3 -3.1 -5.0 -2.8 3.2 -2.8 Processed..................................| 21.420 135.5 134.2 133.3 -.7 -.7 0 -.4 -.2 Finished consumer goods, excluding foods.....| 51.563 128.6 127.2 126.0 -2.7 -.9 -.2 -.2 -1.1 Nondurable goods less foods................| 35.258 125.8 122.8 121.3 -3.5 -1.2 -.2 -.2 -1.5 Durable goods..............................| 16.304 131.4 133.9 133.6 -1.0 -.2 -.3 -.1 -.2 Capital equipment..............................| 25.267 137.2 138.0 138.0 -.7 0 -.1 -.2 -.1 Manufacturing industries.....................| 6.590 137.3 137.7 137.9 .1 .1 0 -.1 .1 Nonmanufacturing industries..................| 18.677 137.1 138.1 138.0 -.9 -.1 -.1 -.2 -.1 | Intermediate materials, supplies, and components.| 100.000 126.0 125.0 124.2 -1.7 -.6 .2 -.3 -.6 Materials and components for manufacturing.....| 47.581 128.3 128.0 127.5 -.7 -.4 .2 -.3 -.4 Materials for food manufacturing.............| 3.493 123.1 123.0 119.7 -2.6 -2.7 1.8 -1.0 -2.2 Materials for nondurable manufacturing.......| 16.163 129.8 130.3 130.1 0 -.2 .2 -.3 -.1 Materials for durable manufacturing..........| 10.580 133.0 131.4 130.5 -1.1 -.7 -.2 -.6 -.7 Components for manufacturing.................| 17.345 126.2 125.9 126.0 -.6 .1 0 -.1 -.1 Materials and components for construction......| 13.538 146.8 146.6 146.4 1.0 -.1 .1 0 -.2 Processed fuels and lubricants.................| 13.022 91.0 86.2 83.3 -10.8 -3.4 .5 -1.5 -2.9 Manufacturing industries ....................| 4.821 93.7 89.2 86.9 -9.6 -2.6 1.3 -1.6 -2.5 Nonmanufacturing industries..................| 8.201 89.2 84.2 81.1 -11.5 -3.7 0 -1.4 -3.1 Containers.....................................| 3.775 135.4 139.6 140.7 2.1 .8 .3 1.7 .7 Supplies.......................................| 22.084 136.2 135.9 135.5 0 -.3 .1 -.1 -.4 Manufacturing industries.....................| 4.940 139.6 140.2 140.4 1.2 .1 .1 0 0 Nonmanufacturing industries..................| 17.144 134.5 133.7 133.1 -.5 -.4 .2 -.1 -.6 Feeds......................................| 1.613 131.3 123.0 116.1 -8.8 -5.6 1.0 -.6 -5.5 Other supplies.............................| 15.531 134.9 135.2 135.4 .5 .1 .1 -.1 0 | Crude materials for further processing...........| 100.000 108.5 107.4 102.7 -18.7 -4.4 1.8 -5.2 -4.5 Foodstuffs and feedstuffs......................| 42.215 110.6 108.8 105.4 -6.1 -3.1 .3 0 -3.3 Nonfood materials..............................| 57.785 103.2 102.5 97.1 -25.9 -5.3 2.8 -8.6 -5.5 Nonfood materials except fuel 3/.............| 33.354 101.1 98.4 93.0 -17.6 -5.5 -1.2 -3.4 -5.8 Manufacturing 3/...........................| 32.018 92.5 89.8 84.7 -19.0 -5.7 -1.4 -3.7 -6.0 Construction...............................| 1.336 201.8 199.6 200.7 0 .6 -.1 -.5 -.4 Crude fuel 4/................................| 24.431 97.1 99.9 94.9 -36.6 -5.0 9.5 -16.2 -5.0 Manufacturing industries...................| 2.029 94.5 97.0 92.0 -35.0 -5.2 8.8 -15.1 -5.2 Nonmanufacturing industries................| 22.402 99.0 101.9 96.8 -37.1 -5.0 9.7 -16.5 -5.0 | Special groupings | | Finished goods, excluding foods..................|5/ 76.829 130.9 130.2 129.3 -2.1 -.7 -.2 -.2 -.8 Intermediate materials less foods and feeds......|6/ 94.894 126.1 125.2 124.5 -1.5 -.6 .2 -.3 -.5 Intermediate foods and feeds.....................|6/ 5.106 126.0 123.3 118.8 -4.7 -3.6 1.6 -.9 -3.2 Crude materials less agricultural products 3/ 7/.|8/ 55.171 102.8 102.1 96.6 -26.5 -5.4 3.0 -8.9 -5.5 | Finished energy goods............................|5/ 13.575 85.3 80.2 77.4 -10.5 -3.5 -.6 -.8 -3.7 Finished goods less energy.......................|5/ 86.425 139.7 140.3 139.9 -.3 -.3 -.1 -.1 -.2 Finished consumer goods less energy..............|5/ 61.158 140.6 141.1 140.6 -.1 -.4 -.1 -.1 -.2 | Finished goods less foods and energy.............|5/ 63.254 141.6 142.7 142.7 -.1 0 -.1 -.1 -.1 Finished consumer goods less foods and energy....|5/ 37.988 144.4 145.6 145.6 .3 0 -.1 0 -.1 Consumer nondurable goods less foods and energy..|5/ 21.684 154.2 154.1 154.4 1.3 .2 .1 .1 -.1 | Intermediate energy goods........................|6/ 13.132 90.7 85.9 83.0 -10.9 -3.4 .6 -1.6 -2.9 Intermediate materials less energy...............|6/ 86.868 133.8 133.7 133.3 -.1 -.3 .1 -.1 -.3 Intermediate materials less foods and energy.....|6/ 81.762 134.3 134.3 134.3 .1 0 .1 -.1 -.1 | Crude energy materials 3/........................|8/ 36.173 83.2 83.4 77.3 -35.3 -7.3 5.0 -12.6 -7.3 Crude materials less energy......................|8/ 63.827 122.2 120.0 116.8 -5.4 -2.7 -.1 -.5 -2.9 Crude nonfood materials less energy 4/...........|8/ 21.612 156.0 152.7 150.1 -4.2 -1.7 -.8 -1.4 -2.2 | ____________________________________________________________________________________________________________________________________ 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 Sept. 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 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 | | |Jan. 1998 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Sept. |Dec. |Jan. | Jan. | Dec. |Oct. to|Nov. to|Dec. to | |1997 1/|1997 1/|1998 1/| 1997 | 1997 | Nov. | Dec. | Jan. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 131.8 131.1 130.2 -1.8 -0.7 -0.2 -0.2 -0.7 | FINISHED CONSUMER GOODS...............................| 130.5 129.4 128.2 -2.1 -.9 -.2 -.2 -.8 | FINISHED CONSUMER FOODS..............................| 134.7 134.2 132.8 -1.0 -1.0 -.3 -.1 -.4 | | 01-11 | Fresh fruits and melons 2/..........................| 93.4 107.3 87.4 -21.8 -18.5 -8.6 22.2 -18.5 01-13 | Fresh and dry vegetables 2/.........................| 125.0 126.8 143.1 31.6 12.9 -11.0 -2.5 12.9 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 100.1 109.7 98.3 -5.7 -10.4 11.4 -7.4 -.6 02-11 | Bakery products 2/..................................| 174.3 174.6 175.1 1.1 .3 0 0 .3 02-13 | Milled rice 2/......................................| 124.6 127.1 125.9 -1.7 -.9 .4 -.1 -.9 02-14-02 | Pasta products (June 1985=100) 2/...................| 123.6 123.6 123.5 -2.7 -.1 .1 0 -.1 02-21-01 | Beef and veal.......................................| 104.0 101.4 100.0 -1.9 -1.4 -1.6 -1.2 .8 02-21-04 | Pork................................................| 123.5 109.8 98.1 -20.5 -10.7 1.0 -1.9 -9.0 02-22-03 | Processed young chickens............................| 120.6 112.9 112.1 -7.5 -.7 -1.0 -.8 1.1 02-22-06 | Processed turkeys...................................| 101.1 99.0 92.7 -5.8 -6.4 .5 -1.4 -1.7 02-23 | Finfish and shellfish...............................| 169.7 182.7 190.0 3.4 4.0 -1.8 -.2 -.8 02-3 | Dairy products......................................| 127.1 134.2 129.9 2.9 -3.2 2.5 1.1 -1.7 02-4 | Processed fruits and vegetables 2/..................| 125.3 124.7 124.5 -2.6 -.2 -.6 -.2 -.2 02-55 | Confectionery end products 2/.......................| 168.2 168.2 168.0 .1 -.1 .3 -.1 -.1 02-62 | Soft drinks.........................................| 132.9 132.3 133.1 -.4 .6 -.1 .1 -.2 02-63-01 | Roasted coffee 2/...................................| 161.2 151.2 150.9 17.8 -.2 -5.1 -.8 -.2 02-76 | Shortening and cooking oils 2/......................| 136.6 136.9 138.2 1.2 .9 1.5 -5.3 .9 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 128.6 127.2 126.0 -2.7 -.9 -.2 -.2 -1.1 | | 02-61 | Alcoholic beverages.................................| 134.1 134.3 135.1 -.2 .6 .1 .3 .3 03-81-01 | Women's apparel 2/..................................| 120.8 120.5 120.5 .4 0 .8 .2 0 03-81-02 | Men's and boys' apparel.............................| 133.0 133.0 132.3 -.1 -.5 .1 .1 -.8 03-81-03 | Girls', children's, and infants' apparel 2/.........| 122.2 122.5 123.2 -.6 .6 -.1 0 .6 03-82 | Textile housefurnishings 2/.........................| 122.5 122.9 123.2 -.5 .2 .1 .2 .2 04-3 | Footwear............................................| 144.4 144.2 144.6 1.0 .3 -.1 0 .1 05-41 | Residential electric power (Dec. 1990=100)..........| 117.0 110.3 109.1 -1.4 -1.1 -.4 -.3 -1.3 05-51 | Residential gas (Dec. 1990=100).....................| 114.6 119.0 116.5 -5.3 -2.1 3.6 -2.1 -3.3 05-71 | Gasoline............................................| 75.3 64.7 59.3 -22.6 -8.3 -4.0 .9 -7.9 05-73-02-01| Fuel oil No. 2......................................| 60.2 60.8 55.2 -27.2 -9.2 0 -7.3 -8.9 06-35 | Pharmaceutical preps, ethical (Prescription)........| 273.9 276.9 279.4 3.4 .9 .4 .1 .8 06-36 | Pharmaceutical preps,proprietary (Over-counter).....| 184.4 185.0 184.9 -.1 -.1 -.1 0 -.2 06-71 | Soaps and synthetic detergents 2/...................| 126.5 126.9 125.9 .4 -.8 0 0 -.8 06-75 | Cosmetics and other toilet preparations 2/..........| 130.4 130.4 130.8 .2 .3 .2 -.2 .3 07-12 | Tires, tubes, tread, etc 2/.........................| 95.5 93.9 94.1 -2.7 .2 -1.4 -.2 .2 09-15-01 | Sanitary papers and health products 2/..............| 147.7 145.7 145.6 -1.5 -.1 -.3 -.1 -.1 09-31-01 | Newspaper circulation 2/............................| 202.6 202.1 202.3 .3 .1 0 0 .1 09-32-01 | Periodical circulation..............................| 188.4 188.9 190.8 1.7 1.0 .2 0 -1.1 09-33 | Book publishing 2/..................................| 199.8 203.6 203.9 3.0 .1 1.5 0 .1 12-1 | Household furniture 2/..............................| 146.6 146.8 147.3 1.3 .3 .2 0 .3 12-3 | Floor coverings 2/..................................| 128.4 127.6 126.8 -.8 -.6 -.5 .3 -.6 12-4 | Household appliances 2/.............................| 109.4 109.0 109.0 -2.2 0 -.1 -.3 0 12-5 | Home electronic equipment 2/........................| 76.1 76.0 75.8 -3.1 -.3 -2.9 0 -.3 12-62 | Household glassware 2/..............................| 162.2 162.4 162.0 2.2 -.2 .4 -.1 -.2 12-64 | Household flatware 2/...............................| 138.4 139.2 139.2 .4 0 0 .6 0 12-66 | Lawn and garden equip., ex. tractors 2/.............| 130.8 131.1 131.1 -1.5 0 -.2 .5 0 14-11-01 | Passenger cars......................................| 127.7 134.6 133.7 -2.1 -.7 -.7 -.4 -.5 15-11 | Toys, games, and children's vehicles................| 125.1 125.0 125.2 -.6 .2 -.1 0 -.1 15-12 | Sporting and athletic goods 2/......................| 125.4 125.0 125.5 1.9 .4 -.4 -.2 .4 15-2 | Tobacco products 2/.................................| 256.4 257.9 257.2 7.4 -.3 .1 .7 -.3 15-5 | Mobile homes 2/.....................................| 152.5 152.8 153.0 1.3 .1 .3 -.2 .1 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 128.7 128.7 128.5 -.1 -.2 -1.8 -.4 -.2 15-94-04 | Costume jewelry and novelties 2/....................| 140.8 140.9 140.9 .8 0 0 -.1 0 | | | CAPITAL EQUIPMENT.....................................| 137.2 138.0 138.0 -.7 0 -.1 -.2 -.1 | | 11-1 | Agricultural machinery and equipment 2/.............| 149.2 148.3 148.2 0 -.1 .1 -.1 -.1 11-2 | Construction machinery and equipment................| 142.2 142.8 143.9 1.3 .8 0 .1 0 11-37 | Metal cutting machine tools 2/......................| 157.2 158.4 158.7 2.7 .2 .3 .4 .2 11-38 | Metal forming machine tools 2/......................| 155.3 155.1 154.7 2.2 -.3 -.4 .2 -.3 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 138.3 138.3 138.5 .7 .1 0 -.3 .1 11-41 | Pumps, compressors, and equipment...................| 147.0 147.4 148.0 1.9 .4 .1 0 -.1 11-44 | Industrial material handling equipment 2/...........| 130.0 130.2 130.5 1.5 .2 .1 0 .2 11-51 | Electronic computers (Dec. 1990=100) 2/.............| 31.3 29.8 28.9 -22.7 -3.0 -2.6 -1.7 -3.0 11-62 | Textile machinery 2/................................| 152.4 152.3 152.6 1.1 .2 .1 -.1 .2 11-64 | Paper industries machinery (June 1982=100)..........| 157.8 158.0 158.6 2.0 .4 .1 .1 .1 11-65 | Printing trades machinery 2/........................| 138.7 139.2 139.1 .4 -.1 .4 -.1 -.1 11-74 | Transformers and power regulators 2/................| 129.4 128.9 128.8 .2 -.1 .9 -1.4 -.1 11-76 | Communication & related equip. (Dec. 1985=100) 2/...| 114.1 114.6 114.7 .7 .1 .4 -.1 .1 11-79-05 | X-ray and electromedical equipment 2/...............| 107.0 106.8 106.8 -1.2 0 -.3 0 0 11-91 | Oil field and gas field machinery 2/................| 123.2 124.4 125.0 3.4 .5 .6 0 .5 11-92 | Mining machinery and equipment 2/...................| 141.0 141.6 142.1 2.6 .4 0 .4 .4 11-93 | Office and store machines and equipment 2/..........| 112.6 112.5 112.2 -.1 -.3 0 -.1 -.3 12-2 | Commercial furniture 2/.............................| 154.7 155.1 155.2 1.0 .1 .4 .1 .1 14-11-05 | Light motor trucks..................................| 154.0 157.4 156.4 -4.0 -.6 -.6 -1.2 -.8 14-11-06 | Heavy motor trucks 2/...............................| 139.9 139.8 140.2 -.1 .3 -.1 .1 .3 14-14 | Truck trailers 2/...................................| 129.8 130.0 133.6 2.6 2.8 .1 .2 2.8 14-21-02 | Civilian aircraft (Dec. 1985=100)...................| 150.0 150.1 149.9 .3 -.1 -.1 .1 -.3 14-31 | Ships (Dec. 1985=100) 2/............................| 144.9 145.3 145.3 1.8 0 .6 0 0 14-4 | Railroad equipment..................................| 134.2 134.7 134.5 -5.5 -.1 .3 -.4 -.4 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 126.0 125.0 124.2 -1.7 -.6 .2 -.3 -.6 | | | INTERMEDIATE FOODS AND FEEDS..........................| 126.0 123.3 118.8 -4.7 -3.6 1.6 -.9 -3.2 | | 02-12-03 | Flour 2/............................................| 118.0 113.3 109.9 -10.0 -3.0 -.4 -1.6 -3.0 02-53 | Refined sugar 2/....................................| 122.6 119.7 119.1 -5.5 -.5 -1.1 -.4 -.5 02-54 | Confectionery materials.............................| 109.9 92.1 93.8 -14.3 1.8 -.1 -4.6 2.7 02-72 | Crude vegetable oils 2/.............................| 112.7 126.4 125.9 9.8 -.4 5.3 .2 -.4 02-9 | Prepared animal feeds 2/............................| 135.0 127.7 121.7 -7.2 -4.7 .9 -.2 -4.7 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 126.1 125.2 124.5 -1.5 -.6 .2 -.3 -.5 | | 03-1 | Synthetic fibers 2/.................................| 110.5 110.2 110.0 -2.4 -.2 -.1 -.3 -.2 03-2 | Processed yarns and threads 2/......................| 113.7 113.3 113.3 -.8 0 -.3 -.3 0 03-3 | Gray fabrics 2/.....................................| 122.4 121.8 122.8 1.2 .8 -.6 .3 .8 03-4 | Finished fabrics....................................| 123.9 123.7 123.8 .1 .1 0 -.1 -.1 03-83-03 | Industrial textile products 2/......................| 127.8 127.8 131.0 3.8 2.5 -.1 -.2 2.5 04-2 | Leather.............................................| 178.4 182.9 181.5 -.9 -.8 1.3 -1.0 -1.4 05-32 | Liquefied petroleum gas 2/..........................| 80.4 81.9 74.3 -35.3 -9.3 2.5 -3.6 -9.3 ____________________________________________________________________________________________________________________________________ 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 | | |Jan. 1998 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Sept. |Dec. |Jan. | Jan. | Dec. |Oct. to|Nov. to|Dec. to | |1997 1/|1997 1/|1998 1/| 1997 | 1997 | Nov. | Dec. | Jan. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 139.4 128.1 127.4 -0.2 -0.5 0 0.2 -0.5 05-43 | Industrial electric power...........................| 136.0 128.5 127.4 -.7 -.9 1.2 .1 -.9 05-52 | Commercial natural gas (Dec. 1990=100)..............| 105.7 116.1 110.8 -8.6 -4.6 2.7 -4.4 -4.5 05-53 | Industrial natural gas (Dec. 1990=100)..............| 102.7 115.3 111.4 -14.4 -3.4 4.1 -6.1 -3.6 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 85.4 107.2 96.4 -14.2 -10.1 8.1 -4.5 -9.0 05-72-03 | Jet fuels...........................................| 58.4 59.2 55.3 -26.4 -6.6 -1.7 -3.1 -3.4 05-73-03 | No. 2 Diesel fuel...................................| 61.3 59.0 54.2 -26.0 -8.1 2.5 -6.1 -5.1 05-74 | Residual fuel 2/....................................| 59.8 54.2 47.8 -26.0 -11.8 6.2 -12.4 -11.8 06-1 | Industrial chemicals 2/.............................| 126.8 127.0 126.8 -.9 -.2 .1 -.2 -.2 06-21 | Prepared paint......................................| 152.4 152.4 152.7 1.7 .2 -.2 .1 .1 06-22 | Paint materials 2/..................................| 141.9 142.5 143.1 2.1 .4 .1 .1 .4 06-31 | Medicinal and botanical chemicals 2/................| 133.6 134.8 135.2 2.7 .3 -.1 0 .3 06-4 | Fats and oils, inedible 2/..........................| 124.9 143.1 131.8 -12.3 -7.9 6.4 -.4 -7.9 06-51 | Mixed fertilizers...................................| 113.8 113.3 114.2 1.2 .8 0 -.2 .1 06-52-01 | Nitrogenates........................................| 128.1 119.3 117.2 -15.3 -1.8 -2.7 -7.0 -3.9 06-52-02 | Phosphates 2/.......................................| 109.0 111.2 110.0 -1.4 -1.1 -.1 .1 -1.1 06-53 | Other agricultural chemicals........................| 148.9 150.2 151.0 2.5 .5 1.5 -.2 .4 06-6 | Plastic resins and materials 2/.....................| 136.0 133.2 133.9 -2.3 .5 -1.8 -.8 .5 07-11-02 | Synthetic rubber 2/.................................| 118.3 118.2 117.6 -3.0 -.5 -.1 -.2 -.5 07-21 | Plastic construction products 2/....................| 127.9 128.1 126.8 -.7 -1.0 .2 .1 -1.0 07-22 | Unsupported plastic film, sheet, & other shapes.....| 131.7 131.7 129.8 -1.9 -1.4 -.2 -.1 -1.1 07-26 | Plastic parts and components for manufacturing 2/...| 117.1 117.1 117.2 -.3 .1 .1 0 .1 08-11 | Softwood lumber 2/..................................| 201.9 196.7 191.8 -5.3 -2.5 1.8 -.1 -2.5 08-12 | Hardwood lumber 2/..................................| 176.9 178.5 180.0 6.9 .8 .2 .4 .8 08-2 | Millwork 2/.........................................| 171.3 170.8 170.6 .3 -.1 -.2 .1 -.1 08-3 | Plywood 2/..........................................| 162.6 153.9 152.9 -1.0 -.6 1.2 -2.5 -.6 09-11 | Woodpulp 2/.........................................| 133.3 133.3 132.5 4.0 -.6 -.2 .2 -.6 09-13 | Paper...............................................| 145.5 147.4 148.3 4.7 .6 .5 .1 1.2 09-14 | Paperboard..........................................| 148.4 156.0 156.2 6.2 .1 3.0 .1 1.4 09-15-03 | Paper boxes and containers 2/.......................| 144.1 151.8 154.0 4.0 1.4 .4 3.5 1.4 09-2 | Building paper and board 2/.........................| 128.4 134.6 127.3 -3.9 -5.4 6.4 -.4 -5.4 09-37 | Commercial printing (June 1982=100) 2/..............| 148.6 151.1 151.1 2.2 0 .2 0 0 10-15 | Foundry and forge shop products.....................| 134.2 134.2 134.9 1.0 .5 0 .1 .2 10-17 | Steel mill products 2/..............................| 116.8 116.2 116.3 .3 .1 0 -.6 .1 10-22 | Primary nonferrous metals 2/........................| 126.6 116.9 113.0 -9.9 -3.3 -2.0 -2.7 -3.3 10-25-01 | Aluminum mill shapes 2/.............................| 150.1 149.5 147.5 4.0 -1.3 .1 0 -1.3 10-25-02 | Copper and brass mill shapes 2/.....................| 173.8 167.8 160.8 -10.2 -4.2 -2.8 -.8 -4.2 10-26 | Nonferrous wire and cable 2/........................| 148.3 144.2 143.3 -3.0 -.6 -1.0 -1.2 -.6 10-3 | Metal containers 2/.................................| 107.7 107.7 107.7 -.3 0 -.1 0 0 10-4 | Hardware............................................| 145.9 146.1 146.5 1.1 .3 -.1 .1 -.1 10-5 | Plumbing fixtures and brass fittings................| 174.6 174.7 175.1 1.9 .2 .1 .2 -.1 10-6 | Heating equipment...................................| 152.9 153.9 154.3 1.5 .3 .3 .5 -.3 10-7 | Fabricated structural metal products................| 141.0 141.3 141.6 1.9 .2 .3 .1 0 10-88 | Fabricated ferrous wire products (June 1982=100) 2/.| 128.9 129.0 129.2 1.5 .2 -.1 -.2 .2 10-89 | Other misc. metal products 2/.......................| 126.2 126.3 126.4 .2 .1 0 0 .1 11-45 | Mechanical power transmission equipment.............| 154.8 156.0 156.7 2.0 .4 .3 .2 -.3 11-48 | Air conditioning and refrigeration equipment........| 132.9 132.7 133.2 .8 .4 -.5 .4 .1 11-49-02 | Metal valves, ex.fluid power (Dec. 1982=100) 2/.....| 153.9 154.1 154.3 2.0 .1 0 .1 .1 11-49-05 | Ball and roller bearings............................| 163.4 163.5 164.6 2.2 .7 .5 .1 -.1 11-71 | Wiring devices......................................| 154.3 154.7 154.5 1.5 -.1 .3 .1 -.3 11-73 | Motors, generators, motor generator sets............| 145.0 144.2 145.0 .4 .6 -.2 -.3 .2 11-75 | Switchgear, switchboard, etc., equipment............| 145.5 146.9 146.9 2.0 0 .4 0 -.1 11-78 | Electronic components and accessories 2/............| 102.9 102.0 101.6 -4.8 -.4 -.3 -.4 -.4 11-94 | Internal combustion engines.........................| 140.3 140.5 140.3 .4 -.1 .3 .1 -.4 11-95 | Machine shop products 2/............................| 135.4 135.3 135.4 .4 .1 .1 -.1 .1 13-11 | Flat glass 2/.......................................| 108.2 108.5 108.4 -.4 -.1 .2 -.1 -.1 13-22 | Cement..............................................| 140.6 140.7 140.7 3.2 0 .4 .6 .1 13-3 | Concrete products...................................| 136.1 136.8 137.1 1.6 .2 .1 .1 0 13-6 | Asphalt felts and coatings 2/.......................| 100.2 98.8 98.7 -.9 -.1 -.1 -.4 -.1 13-7 | Gypsum products 2/..................................| 169.6 172.0 171.7 1.6 -.2 -.6 -.5 -.2 13-8 | Glass containers 2/.................................| 125.7 125.9 125.9 -.1 0 .2 0 0 14-12 | Motor vehicle parts 2/..............................| 115.3 114.9 114.4 -1.1 -.4 0 0 -.4 14-23 | Aircraft engines & engine parts (Dec. 1985=100).....| 134.2 135.3 135.9 -1.3 .4 -.9 .7 -.4 14-25 | Aircraft parts & aux.equip.,nec (June 1985=100) 2/..| 141.0 140.0 140.5 -.6 .4 .1 -.1 .4 15-42 | Photographic supplies 2/............................| 130.6 130.6 128.8 -.4 -1.4 0 .5 -1.4 15-6 | Medical/surgical/personal aid devices...............| 143.1 142.8 143.4 .3 .4 -.1 .1 .1 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 108.5 107.4 102.7 -18.7 -4.4 1.8 -5.2 -4.5 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 110.6 108.8 105.4 -6.1 -3.1 .3 0 -3.3 | | 01-21 | Wheat 2/............................................| 104.4 101.1 94.7 -17.4 -6.3 -.4 -.7 -6.3 01-22-02-05| Corn................................................| 106.2 107.9 106.3 -1.2 -1.5 .3 1.0 -7.2 01-31 | Slaughter cattle....................................| 98.6 97.4 95.6 -.2 -1.8 -2.6 1.3 -2.8 01-32 | Slaughter hogs......................................| 83.6 71.5 55.7 -37.4 -22.1 3.6 -5.8 -19.6 01-41-02 | Slaughter broilers/fryers...........................| 147.9 117.3 125.1 -17.0 6.6 -5.1 -.2 6.2 01-42 | Slaughter turkeys...................................| 116.5 112.7 89.8 -9.2 -20.3 6.2 -1.1 -2.6 01-6 | Fluid milk..........................................| 97.0 104.7 105.8 9.1 1.1 4.8 3.8 2.2 01-83-01-31| Soybeans 2/.........................................| 120.6 117.8 113.2 -9.0 -3.9 4.5 -5.4 -3.9 02-52-01-01| Cane sugar,raw 2/...................................| 118.3 116.5 116.5 -.9 0 -1.6 .1 0 | | | CRUDE NONFOOD MATERIALS..............................| 103.2 102.5 97.1 -25.9 -5.3 2.8 -8.6 -5.5 | | 01-51-01-01| Raw cotton..........................................| 117.6 107.3 103.3 -11.4 -3.7 .7 -9.6 -5.6 01-92-01-01| Leaf tobacco 2/.....................................| 103.2 112.6 110.8 -6.3 -1.6 -1.9 8.8 -1.6 04-11 | Cattle hides 2/.....................................| 180.3 187.3 156.8 -24.4 -16.3 4.4 -2.0 -16.3 05-1 | Coal 2/.............................................| 96.2 96.2 96.2 -1.1 0 -.7 2.0 0 05-31 | Natural gas 2/......................................| 96.9 100.2 93.3 -41.5 -6.9 11.0 -18.7 -6.9 05-61 | Crude petroleum 2/..................................| 53.3 50.8 44.3 -39.6 -12.8 -1.6 -9.9 -12.8 08-5 | Logs, timber, etc...................................| 214.7 212.5 213.5 .2 .5 .2 -.4 -.8 09-12 | Wastepaper 2/.......................................| 182.1 164.7 163.1 8.5 -1.0 -2.9 -.2 -1.0 10-11 | Iron ore 2/.........................................| 95.2 (3) 95.2 -4.5 (3) 0 (3) (3) 10-12 | Iron and steel scrap 2/.............................| 189.7 197.8 198.0 8.7 .1 2.7 .4 .1 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 80.2 67.6 66.5 -23.0 -1.6 -9.3 -7.9 -1.6 10-23-01 | Copper base scrap 2/................................| 150.2 134.6 122.2 -25.3 -9.2 -3.0 -5.1 -9.2 10-23-02 | Aluminum base scrap.................................| 193.6 191.8 185.6 -1.4 -3.2 -.7 -2.2 -6.1 13-21 | Construction sand, gravel, and crushed stone........| 148.6 148.9 149.9 1.8 .7 0 .3 .1 ____________________________________________________________________________________________________________________________________ 1/ The indexes for September 1997 have been recalculated 2/ Not seasonally adjusted. to incorporate late reports and corrections by respondents. 3/ Not available. All indexes are subject to revision 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 |Sept. 1997 | Dec. 1997 | Jan. 1998 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 369.9 | 368.0 | 365.4 | | All commodities................................| 127.5 | 126.7 | 125.5 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 126.5 | 125.3 | 122.9 | 01 | Farm products................................| 111.2 | 110.1 | 106.1 | 02 | Processed foods and feeds....................| 134.1 | 132.9 | 131.2 | | | | | | | Industrial commodities.........................| 127.7 | 126.9 | 126.0 | 03 | Textile products and apparel.................| 122.7 | 122.5 | 122.8 | 04 | Hides, skins, leather, and related products..| 151.5 | 153.5 | 149.2 | 05 | Fuels and related products and power 2/......| 86.5 | 82.8 | 79.1 | 06 | Chemicals and allied products 2/.............| 143.5 | 143.5 | 143.7 | 07 | Rubber and plastic products..................| 123.3 | 123.1 | 122.9 | 08 | Lumber and wood products.....................| 183.7 | 181.9 | 181.3 | 09 | Pulp, paper, and allied products.............| 168.7 | 171.2 | 172.1 | 10 | Metals and metal products....................| 132.0 | 130.6 | 130.1 | 11 | Machinery and equipment......................| 125.6 | 125.4 | 125.5 | 12 | Furniture and household durables.............| 130.7 | 130.7 | 130.8 | 13 | Nonmetallic mineral products.................| 133.5 | 133.7 | 134.0 | 14 | Transportation equipment.....................| 139.5 | 141.5 | 141.2 | 15 | Miscellaneous products.......................| 152.2 | 152.7 | 152.7 | | | | | | | Industrial commodities less fuels and related | | | | | products and power...........................| 139.0 | 139.3 | 139.3 | | | | | | | | | | | | OTHER COMMODITY GROUPINGS | | | | | | | | | 01-1 | Fruits and melons, fresh and dry vegetables, | | | | | and tree nuts................................| 112.8 | 121.4 | 116.9 | 01-2 | Grains.........................................| 107.2 | 107.4 | 104.4 | 01-3 | Slaughter livestock............................| 95.8 | 91.4 | 85.6 | 01-4 | Slaughter poultry..............................| 139.9 | 115.9 | 116.9 | 01-5 | Plant and animal fibers........................| 118.3 | 108.4 | 104.1 | 01-7 | Chicken eggs...................................| 120.0 | 136.2 | 117.4 | 01-8 | Hay, hayseeds, and oilseeds....................| 142.2 | 140.7 | 136.6 | 01-83 | Oilseeds.......................................| 130.2 | 128.3 | 123.9 | 01-9 | Other farm products............................| 153.9 | 167.9 | 165.3 | 02-1 | Cereal and bakery products.....................| 158.0 | 157.6 | 157.3 | 02-2 | Meats, poultry, and fish.......................| 118.9 | 114.7 | 112.3 | 02-22 | Processed poultry..............................| 118.6 | 114.0 | 112.6 | 02-5 | Sugar and confectionery........................| 138.3 | 133.7 | 133.9 | 02-6 | Beverages and beverage materials...............| 138.0 | 136.9 | 137.4 | 02-63 | Packaged beverage materials....................| 154.9 | 146.6 | 146.4 | 02-7 | Fats and oils..................................| 128.9 | 135.2 | 134.8 | 03-81 | Apparel........................................| 125.9 | 125.9 | 125.7 | 04-4 | Other leather and related products.............| 144.2 | 144.5 | 144.9 | 05-3 | Gas fuels 2/...................................| 91.3 | 94.2 | 87.2 | 05-4 | Electric power.................................| 137.2 | 128.5 | 127.5 | 05-7 | Refined petroleum products.....................| 68.5 | 62.1 | 57.1 | 06-3 | Drugs and pharmaceuticals......................| 219.3 | 220.8 | 222.0 | 06-5 | Agricultural chemicals and products............| 131.7 | 130.9 | 130.5 | 06-7 | Other chemicals and allied products............| 133.6 | 133.8 | 133.9 | 07-1 | Rubber and rubber products.....................| 115.8 | 115.3 | 115.4 | 07-11 | Rubber, except natural rubber..................| 117.7 | 117.6 | 117.0 | 07-13 | Miscellaneous rubber products..................| 138.0 | 138.2 | 138.7 | 07-2 | Plastic products...............................| 130.0 | 130.0 | 129.7 | 08-1 | Lumber.........................................| 192.2 | 189.1 | 186.1 | 09-1 | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 146.2 | 148.9 | 149.5 | 09-15 | Converted paper and paperboard products........| 148.2 | 151.6 | 152.5 | 10-1 | Iron and steel.................................| 126.8 | 127.1 | 127.4 | 10-2 | Nonferrous metals..............................| 136.4 | 130.4 | 127.7 | 10-25 | Nonferrous mill shapes.........................| 145.8 | 144.3 | 141.7 | 11-3 | Metalworking machinery and equipment...........| 145.8 | 145.9 | 146.5 | 11-4 | General purpose machinery and equipment........| 145.4 | 145.6 | 146.1 | 11-6 | Special industry machinery.....................| 157.2 | 157.5 | 158.0 | 11-7 | Electrical machinery and equipment.............| 122.0 | 121.8 | 121.8 | 11-9 | Miscellaneous machinery and equipment..........| 131.1 | 131.3 | 131.3 | 12-6 | Other household durable goods..................| 149.4 | 149.6 | 150.3 | 13-2 | Concrete ingredients...........................| 143.2 | 143.4 | 144.0 | 14-1 | Motor vehicles and equipment...................| 129.6 | 132.6 | 132.0 | 15-1 | Toys, sporting goods, small arms, etc..........| 131.9 | 131.7 | 132.1 | 15-4 | Photographic equipment and supplies............| 118.6 | 118.5 | 117.1 | 15-9 | Other miscellaneous products...................| 133.3 | 133.7 | 133.9 | __________________________________________________________|___________|___________|___________| 1/ Data for Sept. 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_Jan._1998_from:__ code | |base | | | | | | | |Sep. |Dec. |Jan. | Jan. | Dec. | | |1997 2/|1997 2/|1998 2/| 1997 | 1997 __________________|______________________________________________|_____|_______|_______|_______|________|___________ | | | |Total mining industries...................... |12/84| 82.9 82.8 77.9 -30.0 -5.9 10 | Metal mining................................ |12/84| 84.0 74.1 73.1 -18.7 -1.3 12 | Coal mining................................. |12/85| 91.9 92.2 92.1 -.9 -.1 13 | Oil and gas extraction...................... |12/85| 83.5 84.1 77.6 -35.9 -7.7 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 129.3 129.7 130.3 2.1 .5 | | | |Total manufacturing industries............... |12/84| 127.3 127.0 126.3 -1.4 -.6 20 | Food and kindred products................... |12/84| 127.9 127.1 125.7 -1.3 -1.1 21 | Tobacco manufactures........................ |12/84| 219.4 219.6 219.3 8.9 -.1 22 | Textile mill products....................... |12/84| 118.9 118.7 118.7 .1 0 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 123.7 123.5 124.1 1.0 .5 24 | Lumber and wood products, except furniture.. |12/84| 158.9 158.4 157.5 .7 -.6 25 | Furniture and fixtures...................... |12/84| 138.6 138.8 139.2 1.2 .3 26 | Paper and allied products................... |12/84| 134.1 137.2 137.7 2.4 .4 27 | Printing, publishing, and allied industries. |12/84| 169.2 171.2 172.5 2.7 .8 28 | Chemicals and allied products............... |12/84| 147.1 147.1 147.6 .5 .3 29 | Petroleum refining and related products..... |12/84| 86.1 79.1 73.7 -20.7 -6.8 30 | Rubber and miscellaneous plastic products... |12/84| 122.9 122.7 122.6 -.2 -.1 31 | Leather and leather products................ |12/84| 137.0 137.6 137.7 .7 .1 32 | Stone, clay, glass, and concrete products... |12/84| 127.5 127.8 127.9 .9 .1 33 | Primary metal industries.................... |12/84| 125.2 123.8 123.4 -.2 -.3 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 128.0 128.1 128.3 1.2 .2 35 | Machinery, except electrical................ |12/84| 118.2 118.1 118.2 -.8 .1 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 111.1 110.8 110.7 -1.6 -.1 37 | Transportation equipment.................... |12/84| 131.8 134.1 133.8 -1.2 -.2 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 125.8 125.9 126.0 .4 .1 39 | Miscellaneous manufacturing industries...... |12/85| 129.2 129.3 129.5 .7 .2 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 100.8 100.9 100.8 .9 -.1 42 | Motor freight transportation and warehousing |06/93| 109.4 109.1 110.4 2.2 1.2 43 | United states postal service................ |06/89| 132.3 132.3 132.3 0 0 44 | Water transportation........................ |12/92| 103.8 103.8 102.9 -1.2 -.9 45 | Transportation by air....................... |12/92| 122.5 124.2 122.5 -4.9 -1.4 46 | Pipe lines, except natural gas.............. |12/86| 98.7 98.7 99.3 .5 .6 80 | Health services............................. |12/94| 106.3 106.4 107.1 1.3 .7 81 | Legal services.............................. |12/96| 102.6 103.2 103.9 2.3 .7 ____________________________________________________________________________________________________________________ 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 Sept. 1997 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 | | | | | | | Aug. | Sep. | Oct. | Nov. | Dec. | Jan. | 1997 | 1997 | 1997 | 1997 | 1997 | 1998 _______________________________________________________|_________|________|________|________|________|__________ Finished goods...................................| 131.3 131.8 131.9 131.7 131.4 130.5 Finished consumer goods........................| 129.5 130.1 130.3 130.1 129.8 128.7 Finished consumer foods......................| 133.8 133.8 134.6 134.2 134.1 133.5 Crude......................................| 114.0 119.0 132.0 128.3 132.4 128.7 Processed..................................| 135.2 134.9 134.7 134.7 134.2 133.9 Finished consumer goods, excluding foods.....| 127.5 128.3 128.3 128.1 127.8 126.4 Nondurable goods less foods................| 123.6 124.6 124.4 124.2 123.9 122.1 Durable goods..............................| 133.1 133.6 134.0 133.6 133.4 133.1 Capital equipment..............................| 138.1 138.4 138.2 138.1 137.8 137.7 Manufacturing industries.....................| 137.7 137.8 137.8 137.8 137.6 137.8 Nonmanufacturing industries..................| 138.2 138.5 138.3 138.1 137.8 137.6 | Intermediate materials, supplies, and components.| 125.3 125.5 125.4 125.7 125.3 124.5 Materials and components for manufacturing.....| 128.3 128.3 128.2 128.4 128.0 127.5 Materials for food manufacturing.............| 121.8 122.2 122.0 124.2 123.0 120.3 Materials for nondurable manufacturing.......| 130.0 129.9 130.3 130.5 130.1 130.0 Materials for durable manufacturing..........| 133.2 133.0 132.5 132.2 131.4 130.5 Components for manufacturing.................| 126.2 126.2 126.1 126.1 126.0 125.9 Materials and components for construction......| 147.1 146.9 146.5 146.7 146.7 146.4 Processed fuels and lubricants.................| 87.6 88.1 88.2 88.6 87.3 84.8 Manufacturing industries ....................| 90.0 91.2 90.9 92.1 90.6 88.3 Nonmanufacturing industries..................| 86.0 86.1 86.4 86.4 85.2 82.6 Containers.....................................| 133.5 135.4 136.8 137.2 139.5 140.5 Supplies.......................................| 135.8 136.3 135.9 136.1 136.0 135.4 Manufacturing industries.....................| 139.5 139.6 140.2 140.3 140.3 140.3 Nonmanufacturing industries..................| 134.0 134.5 133.6 133.9 133.8 133.0 Feeds......................................| 127.6 131.4 122.4 123.6 122.8 116.0 Other supplies.............................| 134.8 135.0 135.2 135.4 135.3 135.3 | Crude materials for further processing...........| 106.8 108.2 112.1 114.1 108.2 103.3 Foodstuffs and feedstuffs......................| 109.8 109.5 110.1 110.4 110.4 106.8 Nonfood materials..............................| 101.0 103.4 109.3 112.4 102.7 97.1 Nonfood materials except fuel 2/.............| 102.5 101.4 103.5 102.3 98.8 93.1 Manufacturing 2/...........................| 93.8 92.7 95.0 93.7 90.2 84.8 Construction...............................| 204.1 203.6 201.8 201.5 200.5 199.6 Crude fuel 3/................................| 88.9 97.1 108.9 119.2 99.9 94.9 Manufacturing industries...................| 87.3 94.5 105.1 114.3 97.0 92.0 Nonmanufacturing industries................| 90.5 99.0 111.3 122.1 101.9 96.8 | Special groupings | | Finished goods, excluding foods..................| 130.4 131.1 131.0 130.8 130.5 129.5 Intermediate materials less foods and feeds......| 125.4 125.6 125.6 125.8 125.4 124.8 Intermediate foods and feeds.....................| 124.0 125.4 122.4 124.3 123.2 119.2 Crude materials less agricultural products 2/....| 100.6 102.9 108.9 112.2 102.2 96.6 | Finished energy goods............................| 82.2 83.1 83.0 82.5 81.8 78.8 Finished goods less energy.......................| 139.9 140.3 140.5 140.3 140.2 139.9 Finished consumer goods less energy..............| 140.5 141.0 141.3 141.1 141.0 140.7 | Finished goods less foods and energy.............| 142.2 142.7 142.7 142.6 142.5 142.3 Finished consumer goods less foods and energy....| 144.8 145.5 145.6 145.5 145.5 145.3 Consumer nondurable goods less foods and energy..| 153.5 154.3 154.1 154.2 154.4 154.3 | Intermediate energy goods........................| 87.3 87.8 87.9 88.4 87.0 84.5 Intermediate materials less energy...............| 133.7 133.8 133.7 133.9 133.7 133.3 Intermediate materials less foods and energy.....| 134.3 134.4 134.4 134.5 134.4 134.2 | Crude energy materials 2/........................| 79.7 83.2 90.9 95.4 83.4 77.3 Crude materials less energy......................| 122.1 121.6 122.1 122.0 121.4 117.9 Crude nonfood materials less energy 3/...........| 157.9 156.8 157.1 155.8 153.6 150.2 ______________________________________________________________________________________________________________ 1/ All seasonally adjusted indexes are subject to change up to five years after original publication due to the recalculation of seasonal factors each January. The indexes for September 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.