FOR DATA ONLY: (202) 691-5200 USDL 03-81 FOR TECHNICAL INFORMATION: TRANSMISSION OF MATERIAL IN (202) 691-7705 THIS RELEASE IS EMBARGOED MEDIA CONTACT: (202) 691-5902 UNTIL 8:30 A.M. (EST), THURSDAY, http://www.bls.gov/ppi FEBRUARY 20, 2003 Producer Price Indexes -- January 2003 The Producer Price Index for Finished Goods rose 1.6 percent in January, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This increase followed a 0.1-percent decrease in December and a 0.3-percent decline in November. At the earlier stages of processing, prices received by intermediate goods manufacturers rose 1.3 percent in January, following a 0.2-percent decline in the prior month. The crude goods index increased 6.9 percent, compared with a 2.2- percent gain in December. (See table A.) Table A. Monthly and annual percent changes in selected stage-of-processing price indexes, seasonally adjusted ______________________________________________________________________________________ | | | | | | | Finished goods | | | | | | | | | |---------------------------------------------------------| | | | | | | | | Change in | | | | | | | | Except |finished goods| Inter- | | | | | | |foods and|from 12 months| mediate | Crude | | Month | Total | Foods | Energy | energy | ago(unadj.) | goods | goods | |--------------------------------------------------------------------------------------| 2002 Jan. 0.0 0.5 -0.2 -0.1 -2.7 -0.2 4.5 Feb. .3 1.1 .6 0 -2.6 -.1 -1.0 Mar. .8 .6 4.6 -.1 -1.6 .7 5.2 Apr. -.1 -2.9 3.1 .1 -2.1 .9 4.3 May -.4 -.3 -2.3 0 -2.9 -.3 .7 June .1 .2 .1 .1 -2.3 .2 -3.8 July 0 -.1 1.1 -.3 -1.2 .2 .8 Aug. 0 -.4 1.4 -.1 -1.5 .4 1.8 Sept. .3 -.4 1.2 .3 -1.8 .5 2.2 Oct. .7 .4 3.3 .3 .6 .7 1.2 Nov. -.3 .4 -1.8 -.1 .9 0 5.7 Dec. -.1 .4 .2 -.5 1.2 -.2 2.2 2003 Jan. 1.6 1.6 4.8 .9 2.8 1.3 6.9 NOTE: Some of the 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 2002. In addition, indexes for September 2002 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. -2- Among finished goods, the index for finished energy goods advanced 4.8 percent, following a 0.2-percent increase in December. Excluding prices for energy goods, the finished goods index rose 1.1 percent in January. The index for finished goods other than foods and energy advanced 0.9 percent, after posting a 0.5-percent decline in December. Excluding prices for passenger cars and light motor trucks, the index for finished goods other than foods and energy increased 0.3 percent in January. The finished consumer foods index increased 1.6 percent in January, after posting a 0.4- percent gain in the prior month. Before seasonal adjustment, the Producer Price Index for Finished Goods increased 1.5 percent to 141.2 (1982=100). From January 2002 to January 2003, prices for finished goods rose 2.8 percent. Much of this increase was due to a 17.0-percent jump in the index for finished energy goods. During the same period, prices for finished goods other than foods and energy rose 0.5 percent, and the index for finished consumer foods moved up 0.4 percent. At the earlier stages of processing, prices received by producers of intermediate goods increased 4.5 percent and the index for crude goods advanced 29.3 percent. Finished goods Prices for finished energy goods jumped 4.8 percent in January, following a 0.2-percent increase in December. Although prices for most finished energy goods added to this acceleration, the largest contributor was the gasoline index, which advanced 13.7 percent after registering a 1.2- percent decrease in December. Prices for residential natural gas also turned up in January. The indexes for home heating oil and liquefied petroleum gas rose at a faster pace in January than they did a month earlier. By contrast, the residential electric power index rose 0.1 percent in January, following a 0.3-percent gain in the prior month. Table B. Monthly and annual percent changes in selected price indexes for intermediate goods and crude goods, seasonally adjusted __________________________________________________________________________________ | | | | | | Intermediate goods | Crude goods | | | | | | |---------------------------------------------------------------------------| | | | | |Change in | | | | Change | | | | | | interme- | | | |in crude | | | | | | diate | | | | goods | | | | | |goods from| | | | from 12 | | | | | Except |12 months | | | Except | months | | | | |foods and| ago | | Energy |foods and| ago | |Month | Foods | Energy | energy | (unadj.) | Foods | (unadj.)| energy |(unadj.) | |----------------------------------------------------------------------------------| 2002 Jan. -0.1 -1.4 -0.1 -4.7 4.1 7.8 0.6 -40.0 Feb. 0 -.4 0 -4.6 2.4 -7.1 1.3 -30.6 Mar. .4 3.6 .2 -3.5 -.5 16.9 .5 -21.6 Apr. -.7 4.5 .2 -2.7 -6.1 19.4 1.9 -18.6 May -.9 -2.0 0 -3.2 -.1 .9 1.9 -16.3 June 1.1 .3 .2 -2.8 -1.2 -9.7 2.8 -12.4 July 1.3 0 .2 -1.5 .6 .3 1.7 -6.2 Aug. .7 1.5 .2 -1.0 1.7 3.2 -.4 -3.8 Sept. 1.1 2.2 .1 -.6 1.3 4.6 -.2 3.1 Oct. -.3 3.4 .2 1.6 0 2.8 .4 14.3 Nov. .6 -1.2 .2 2.5 1.1 13.1 .9 14.7 Dec. 1.2 -1.0 -.1 3.2 1.5 3.6 .5 26.1 2003 Jan. 1.3 6.1 .3 4.5 5.4 11.0 1.0 29.3 NOTE: Some of the 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 2002. In addition, indexes for September 2002 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. -3- The index for finished consumer goods other than foods and energy advanced 0.9 percent in January, following a 0.4-percent decline in December. Prices charged by manufacturers for passenger cars moved up 3.5 percent, after falling 2.1 percent in the previous month. For the 12 months ended in January 2003, passenger car prices declined 1.4 percent. Prices charged by manufacturers for light motor trucks increased 4.1 percent, compared with a 2.2-percent decrease in the prior month. From January 2002 to January 2003, prices for light motor trucks rose 0.7 percent. Prices for floor coverings and household appliances turned up in January. The indexes for pharmaceutical preparations and periodical circulation rose, after showing no change in December. On the other hand, prices for sporting and athletic goods fell 0.2 percent, compared with a 3.1-percent increase in the prior month. The rate of decline in prices for cigarettes and for soaps and synthetic detergents increased from December to January. January prices for capital equipment increased 0.7 percent, following a 0.4-percent decline in December. The indexes for light motor trucks and passenger cars rose in January, after falling in the preceding month. Prices for commercial furniture and for communication and related equipment also turned up in January. The electronic computers index fell at a slower rate in January than it did in December. Alternatively, the x-ray and electromedical equipment index posted a 0.6-percent decline, after inching up 0.1 percent in December. Prices for both heavy motor trucks and industrial material handling equipment remained unchanged in January, following an increase in the prior month. Prices for finished consumer foods rose 1.6 percent in January, after posting a 0.4-percent gain in December. The fresh and dry vegetables index increased 18.2 percent in January, after moving down 5.0 percent in the prior month. Prices for finfish and shellfish, fresh fruits and melons, and pork also increased, after falling in December. By contrast, the dairy products index rose 0.4 percent in January, following a 1.4-percent gain in the previous month. Prices for beef and veal also rose at a slower rate than they did in the prior month. The indexes for soft drinks and for shortening and cooking oils turned down in January. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components advanced 1.3 percent in January, following a 0.2-percent decline in December. Most of this upturn can be traced to prices for intermediate energy goods and materials for nondurable manufacturing, which also posted gains after falling in the previous month. The indexes for materials and components for construction and materials for durable manufacturing increased, after showing no change in December. Prices for intermediate foods and feeds rose at a slightly quicker pace in January than they did in December. The index for intermediate goods other than foods and energy moved up at a 0.3-percent rate in January, following a 0.1-percent decrease in the prior month. (See table B.) Subsequent to a 1.0-percent drop in December, prices for intermediate energy goods advanced 6.1 percent in January. The gasoline index jumped 13.7 percent, after registering a 1.2-percent decline in the previous month. Prices for industrial natural gas, residual fuels, and natural gas to electric utilities also turned up in January. The indexes for diesel fuel and liquefied petroleum gas rose at a faster pace than they did in the preceding month. Prices for commercial natural gas increased in January, after showing no change a month earlier. -4- The index for materials for nondurable manufacturing moved up 1.4 percent in January, compared with a 1.3-percent decrease in December. A significant portion of this upturn was due to the basic organic chemicals index, which advanced 5.2 percent in January following a 2.3-percent decline in the prior month. The indexes for finished fabrics, synthetic rubber, medicinal and botanical chemicals, and phosphates also rose in January, after falling a month earlier. Nitrogenate prices increased at a faster rate than they did in the preceding month, while the index for paperboard decreased more slowly than it did in December. Conversely, paper prices declined 0.4 percent in January, after edging down 0.1 percent in December. The index for gray fabrics also fell more quickly than it did in December. Prices for basic inorganic chemicals and for processed yarns and threads turned down in January, following December increases. The index for materials and components for construction advanced 0.3 percent in January, after showing no change in December. Prices for plastic construction products jumped 2.6 percent, following a 0.3-percent increase in the prior month. The index for heating equipment also rose more quickly in January than in December. Prices for fabricated structural metal products and for air conditioning and refrigeration equipment moved up, after showing no change in December. The January indexes for wiring devices, mineral wool for structural insulation, and paving mixtures and blocks turned up, after falling a month earlier. On the other hand, the softwood lumber index declined 1.9 percent in January, compared with a 0.5- percent decrease in December. Prices for gypsum products and nonferrous wire and cable also fell more quickly in January than they did in the preceding month. The indexes for treated wood, plumbing fixtures and brass fittings, and architectural coatings moved down, after rising in the previous month. The index for materials for durable manufacturing, which was unchanged for December, edged up 0.1 percent in January. Price increases for cold rolled steel sheet and strip; hot rolled steel bars, plates, and structural shapes; precious metals; copper cathode and refined copper; copper and brass mill shapes; adhesives and sealants; and hardwood lumber slightly outweighed price decreases for hot rolled steel sheet and strip, aluminum mill shapes, semifinished steel mill products, primary aluminum (except extrusion billet), and prepared paint. The index for intermediate foods and feeds advanced at about the same rate in January as in the prior month -- 1.3 percent and 1.2 percent, respectively. In January, rising prices for beef and veal, prepared animal feeds, pork, processed young chickens, crude vegetable oils, and flour more than offset falling prices for dry milk products; shortening and cooking oils; natural, processed, and imitation cheese; and fluid milk products. Crude goods The Producer Price Index for Crude Materials for Further Processing advanced 6.9 percent in January, following a 2.2-percent gain in December. Prices for crude energy materials, crude foodstuffs and feedstuffs, and basic industrial materials also increased at a faster rate in January than in the prior month. (See table B.) The index for crude energy materials rose 11.0 percent in January, after increasing 3.6 percent in the previous month. Leading this acceleration, prices for crude petroleum jumped 20.4 percent, following a 6.6-percent gain in December. The natural gas index moved up 8.2 percent, after rising 3.3 percent in the prior month. Prices for coal turned up 1.9 percent in January, following a 1.6-percent decline a month earlier. -5- The index for crude foodstuffs and feedstuffs moved up 5.4 percent in January, after rising 1.5 percent in the previous month. Slaughter cattle prices advanced 9.1 percent, following a 3.4-percent increase in December. The indexes for slaughter broilers and fryers and fluid milk also rose more in January than they did a month earlier. Prices for fresh vegetables (except potatoes), unprocessed finfish, and fresh fruits and melons turned up, after decreasing in the previous month. By contrast, the wheat index fell 8.3 percent in January, following a 4.3-percent decline in the prior month. Soybean prices also decreased at a faster pace than they did in December. The indexes for slaughter hogs and slaughter turkeys rose less than they did in the previous month. Prices for alfalfa hay and Irish potatoes for processing turned down in January, after increasing a month earlier. The index for crude nonfood materials less energy rose 1.0 percent in January, following a 0.5-percent increase in the prior month. Iron and steel scrap prices turned up 0.9 percent, after falling 1.2 percent in December. The phosphate index also advanced, following a decline in the previous month. Prices for gold ores increased at a faster rate in January than they did a month earlier. The iron ore index moved up, after showing no change in December. Partially counteracting these accelerating prices, the wastepaper index dropped 3.4 percent in January, after declining 0.7 percent a month earlier. Prices for construction sand, gravel, and crushed stone and for leaf tobacco turned down, following gains in December. The indexes for copper base scrap and raw cotton rose less than they did in the previous month. Net output price indexes for mining, manufacturing, and services industries Mining. The Producer Price Index for the Net Output of Total Mining Industries rose 9.2 percent in January, following a 2.9-percent advance in December. (Net output price indexes are not seasonally adjusted.) The acceleration in mining sector prices can be traced to the index for the crude petroleum and natural gas industry, which moved up 18.8 percent in January, after advancing 0.8 percent in December. Prices received by the bituminous coal and lignite surface mining industry, the bituminous coal underground mining industry, and the oil and gas well drilling industry turned up in January. The industry index for gold ores rose at a quicker pace in January than it did a month earlier. Alternatively, the industry index for natural gas liquids and natural gas residue increased 3.2 percent, following a 9.7-percent jump in December. Prices received by the potash, soda, and borate minerals industry turned down in January. The industry index for crushed and broken limestone rose at a slower rate in January than it did in December. In January, the Producer Price Index for the Net Output of Total Mining Industries was 126.2 (December 1984=100), 54.1 percent above its year-ago level. Manufacturing. The Producer Price Index for the Net Output of Total Manufacturing Industries advanced 1.3 percent in January, following a 0.4- percent decline in December. Prices received by the petroleum refining and related products industry group increased 13.6 percent, after a 4.4-percent drop in the prior month. The industry group indexes for transportation equipment and for chemicals and allied products turned up in January. Prices for the printing, publishing, and allied industries group and the industry index for surgical, medical, and dental instruments and supplies rose at a faster pace in January than they did a month ago. On the other hand, prices received by the tobacco manufactures industry group edged down in January, after showing no change in December. The industry group index for leather and leather products turned down in January. In January, the Producer Price Index for the Net Output of Total Manufacturing Industries was 135.9 (December 1984=100), 3.2 percent above its year-ago level. Services. Among service industries, prices received by the industries for operators and lessors of nonresidential buildings; engineering design, analysis, and consulting services; courier services (except by air); legal services; and general medical and surgical hospitals increased in January. By contrast, the industry indexes for radio broadcasting, local trucking without storage, passenger car rental, telephone communications (except radiotelephone), and wireless telecommunications decreased in January. -6- ***** Producer Price Index data for February 2003 will be released on Friday, March 14, 2003, at 8:30 a.m. (EST). Recalculation of Seasonal Adjustment Factors Effective with this release, seasonal adjustment factors have been recalculated to reflect price-movement patterns during 2002 for stage-of- processing (SOP) and commodity-grouping indexes. This routine annual recalculation may affect previously published seasonally adjusted indexes and percent changes for January 1998 through December 2002. Revised seasonally adjusted data for this period, as well as seasonal factors for commodity indexes to be used through December 2003, were released February 18, 2003. To request this information, contact the Division of Industrial Prices and Price Indexes, Section of Index Analysis and Public Information at ppi-info@bls.gov or (202) 691-7705. The table below provides monthly seasonally adjusted percent changes for the three major SOP categories during 2002, based on former and recalculated seasonal factors. Over-the-month percent changes in major stage-of-processing indexes, seasonally adjusted, using former and recalculated seasonal factors for 2002 Finished Goods Intermediate Goods Crude Goods Month Former Recalculated Former Recalculated Former Recalculated January 0.0 0.0 -0.2 -0.2 4.6 4.5 February .2 .3 -.2 -.1 -1.2 -1.0 March .9 .8 1.0 .7 5.0 5.2 April -.1 -.1 .8 .9 4.2 4.3 May -.4 -.4 -.2 -.3 .8 .7 June .1 .1 .2 .2 -3.7 -3.8 July -.2 0 .3 .2 1.3 .8 August .1 0 .3 .4 1.9 1.8 September .1 .3 .5 .5 .3 2.2 October 1.1 .7 .7 .7 3.4 1.2 November -.4 -.3 -.1 0 5.1 5.7 December 0 -.1 -.1 -.2 1.9 2.2 NAICS Conversion The net output price indexes will be converted from the 1987 Standard Industrial Classification (SIC) basis to the 2002 North American Industry Classification System (NAICS) basis with the February 2004 release of January 2004 indexes. The NAICS conversion involves major definitional changes to many of the currently published SIC-based indexes. After the conversion to NAICS, SIC-based indexes will no longer be produced or published. NAICS history will be available depending on the scope of the definitional changes between SIC and NAICS. For more information contact the Division of Industrial Prices and Price Indexes, Section of Index Analysis and Public Information at ppi- info@bls.gov or (202) 691-7705. -7- Resampling of Industries Effective with this release, the Producer Price Index (PPI) includes data for 51 resampled industries. In addition, the sample for the computer manufacturing industry was expanded to include data for personal digital assistants. The Bureau of Labor Statistics periodically updates the sample of producers providing data for the PPI to reflect current conditions more accurately when the structure, membership, technology, or product mix of an industry shifts. The first results of this systematic process were published in July 1986. Subsequent efforts have been completed at 6-month intervals. Also with this release, PPIs for two service industries are introduced: Standard Industrial Classification (SIC) 6282, Investment Advice, and SIC 6412*, Insurance Agencies and Brokerages. The index data for SIC 6282 have a start date of June 2002, while the index data for SIC 6412 have a start date of December 2002. The introduction of these industries is part of an ongoing effort to expand PPI coverage to sectors of the economy other than mining and manufacturing. For information on specific index additions, deletions, and recodes that are effective with this semiannual update, see the January 2003 issue of the PPI Detailed Report or contact the Division of Industrial Prices and Price Indexes, Section of Index Analysis and Public Information at ppi- info@BLS.gov or (202) 691-7705. Standard Industrial Classification (SIC) Code Industry 1041 Gold ores 1044 Silver ores 2033 Canned fruits, vegetables, preserves, jams, and jellies 2062 Cane sugar refining 2063 Beet sugar processing 2082 Malt beverages 2083 Malt 2096 Potato chips, corn chips, and similar snacks 2098 Macaroni, spaghetti, vermicelli, and noodles 2241 Narrow fabric mills 2251 Women's hosiery, except socks 2297 Nonwoven fabrics and related products 2325 Men's and boys' separate trousers and slacks 2326 Men's and boys' work clothing 2353 Hats, caps, and millinery 2387 Apparel belts 2393 Textile bags 2395 Pleating and stitching 2396 Automotive trimmings, apparel findings, and related products 2399 Fabricated textile products, not elsewhere classified 2493 Reconstituted wood products 2517 Wood television, radio, phonograph, and sewing machine cabinets 2519 Household furniture, not elsewhere classified 2655 Fiber cans, drums, and similar products -8- 2676 Sanitary paper products 2731 Book publishing 2761 Manifold business forms 2791 Typesetting 2833 Medicinal chemicals and botanical products (in bulk) 2999 Products of petroleum and coal, not elsewhere classified 3085 Plastic bottles 3142 House slippers 3143 Men's footwear 3144 Women's footwear 3149 Footwear, except rubber, not elsewhere classified 3498 Fabricated pipe and fabricated pipe fittings 3523 Farm machinery and equipment 3541 Machine tools, metal cutting types 3542 Metal forming machine tools 3544 Special tools, dies, jigs, fixtures, and industrial molds 3571 Electronic computers 3631 Household cooking equipment and parts 3632 Household refrigerators and home and farm freezers 3633 Household laundry equipment 3672 Printed circuit boards 3675 Capacitors for electronic circuitry 3845 Electromedical equipment 3942 Dolls and stuffed toys 3955 Carbon paper and inked ribbons 6282 Investment advice** 6412 Insurance agencies and brokerages ** 6512 Operators and lessors of nonresidential buildings 7311 Advertising agencies 8721 Accounting, auditing, and bookkeeping * This industry code is PPI constructed and corresponds to SIC 6411. ** For further discussion of these industries, see "New Producer Price Index for the Investment Advice Industry -- SIC 6282" and "New Producer Price Index for the Insurance Agencies and Brokerages Industry -- SIC 6412" in the January 2003 issue of the PPI Detailed Report or call the Section of Index Analysis and Public Information at (202) 691-7705. 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. 2003 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | |Sept. |Dec. |Jan. | Jan. | Dec. |Oct. to|Nov. to |Dec. to | 2002 1/|2002 2/|2002 2/|2003 2/| 2002 | 2002 | Nov. | Dec. | Jan. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 139.1 139.1 141.2 2.8 1.5 -0.3 -0.1 1.6 Finished consumer goods........................| 73.437 140.0 139.8 142.5 3.9 1.9 -.4 -.1 1.9 Finished consumer foods......................| 20.682 138.7 139.6 141.7 .4 1.5 .4 .4 1.6 Crude......................................| 1.329 119.0 112.4 122.8 -11.9 9.3 -1.3 -7.2 7.9 Processed..................................| 19.352 140.3 141.9 143.3 1.6 1.0 .6 1.0 1.1 Finished consumer goods, excluding foods.....| 52.755 140.2 139.6 142.4 5.2 2.0 -.6 -.2 2.0 Nondurable goods less foods................| 36.542 142.8 141.3 144.7 7.7 2.4 -.8 .1 2.2 Durable goods..............................| 16.213 131.1 132.1 133.8 -.1 1.3 -.5 -.9 1.6 Capital equipment..............................| 26.563 138.3 138.6 139.6 -.1 .7 -.1 -.4 .7 Manufacturing industries.....................| 7.829 139.7 139.8 140.1 -.1 .2 .1 -.1 .1 Nonmanufacturing industries..................| 18.733 137.7 138.1 139.3 -.1 .9 -.1 -.6 1.0 | Intermediate materials, supplies, and components.| 100.000 129.3 129.4 131.2 4.5 1.4 0 -.2 1.3 Materials and components for manufacturing.....| 46.943 126.9 127.3 127.9 2.7 .5 .4 -.4 .5 Materials for food manufacturing.............| 2.928 123.9 127.2 128.9 5.6 1.3 1.4 1.5 1.6 Materials for nondurable manufacturing.......| 14.716 131.5 131.5 133.5 6.5 1.5 .4 -1.3 1.4 Materials for durable manufacturing..........| 9.143 125.9 126.3 126.3 3.1 0 .6 0 .1 Components for manufacturing.................| 20.156 125.9 126.0 125.8 -.4 -.2 .2 -.1 -.2 Materials and components for construction......| 12.773 152.1 151.1 151.5 .9 .3 -.3 0 .3 Processed fuels and lubricants.................| 16.040 100.6 100.4 107.0 18.9 6.6 -1.1 -.2 6.3 Manufacturing industries ....................| 6.410 101.5 103.3 108.7 14.9 5.2 .8 -1.3 4.9 Nonmanufacturing industries..................| 9.630 100.1 98.6 105.9 21.6 7.4 -2.3 .5 7.1 Containers.....................................| 3.252 152.5 153.4 153.6 .7 .1 .2 -.3 .1 Supplies.......................................| 20.992 139.6 139.7 140.0 1.3 .2 0 0 .2 Manufacturing industries.....................| 4.595 144.8 145.1 145.1 .3 0 0 -.1 .1 Nonmanufacturing industries..................| 16.397 137.1 137.1 137.6 1.6 .4 .1 -.1 .3 Feeds......................................| 1.097 104.2 100.5 101.0 6.8 .5 -1.1 0 .5 Other supplies.............................| 15.300 141.3 141.6 142.1 1.2 .4 .1 -.1 .4 | Crude materials for further processing...........| 100.000 110.9 119.4 127.9 29.3 7.1 5.7 2.2 6.9 Foodstuffs and feedstuffs......................| 38.228 100.7 100.4 105.7 6.1 5.3 1.1 1.5 5.4 Nonfood materials..............................| 61.772 115.4 130.6 141.3 48.7 8.2 8.9 2.6 7.9 Nonfood materials except fuel 3/.............| 32.486 108.3 104.8 114.1 32.7 8.9 -5.0 2.7 8.2 Manufacturing 3/...........................| 31.651 99.4 96.1 104.9 33.8 9.2 -5.1 2.9 8.5 Construction...............................| 0.835 182.3 180.8 179.7 .6 -.6 -.4 -.3 -.9 Crude fuel 4/................................| 29.286 115.4 160.9 172.8 71.9 7.4 30.0 2.4 7.4 Manufacturing industries...................| 2.635 111.5 153.4 164.6 68.0 7.3 28.6 2.3 7.3 Nonmanufacturing industries................| 26.651 117.9 164.5 176.7 72.4 7.4 30.1 2.4 7.4 | Special groupings | | Finished goods, excluding foods..................|5/ 79.318 139.0 138.7 140.9 3.4 1.6 -.4 -.4 1.7 Intermediate materials less foods and feeds......|6/ 95.975 130.0 130.0 131.8 4.5 1.4 0 -.3 1.3 Intermediate foods and feeds.....................|6/ 4.025 118.0 119.1 120.3 5.9 1.0 .6 1.2 1.3 Crude materials less agricultural products 3/ 7/.|8/ 59.797 116.6 132.2 143.3 49.9 8.4 8.9 2.6 8.1 | Finished energy goods............................|5/ 14.889 93.0 90.4 95.1 17.0 5.2 -1.8 .2 4.8 Finished goods less energy.......................|5/ 85.111 146.4 147.1 148.5 .5 1.0 0 -.2 1.1 Finished consumer goods less energy..............|5/ 58.548 149.9 150.7 152.3 .8 1.1 .1 -.1 1.1 | Finished goods less foods and energy.............|5/ 64.429 149.5 150.1 151.2 .5 .7 -.1 -.5 .9 Finished consumer goods less foods and energy....|5/ 37.866 157.1 157.8 159.1 1.0 .8 -.1 -.4 .9 Consumer nondurable goods less foods and energy..|5/ 21.653 178.3 178.8 179.6 1.8 .4 .1 0 .4 | Intermediate energy goods........................|6/ 16.398 100.4 99.5 105.9 18.2 6.4 -1.2 -1.0 6.1 Intermediate materials less energy...............|6/ 83.601 135.3 135.6 136.1 2.1 .4 .2 -.1 .4 Intermediate materials less foods and energy.....|6/ 79.577 136.5 136.7 137.2 1.9 .4 .2 -.1 .3 | Crude energy materials 3/........................|8/ 42.616 105.9 127.6 141.6 71.0 11.0 13.1 3.6 11.0 Crude materials less energy......................|8/ 57.384 110.6 110.4 115.0 8.3 4.2 1.0 1.2 3.9 Crude nonfood materials less energy 4/...........|8/ 19.156 140.0 139.7 142.5 13.0 2.0 .9 .5 1.0 | _______________________________________________________________________________________________________________________________ 1/ Comprehensive relative importance figures are initially computed 3/ Includes crude petroleum. after the publication of December indexes and are recalculated 4/ Excludes crude petroleum. after final December indexes are available. The first-published 5/ Percent of total finished goods. and final December relative importances initially appear, 6/ Percent of total intermediate materials. respectively, in the release tables containing January and May data. 7/ Formerly titled "Crude materials for 2/ The indexes for September 2002 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. 2003 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Sept. |Dec. |Jan. | Jan. | Dec. |Oct. to|Nov. to|Dec. to | |2002 1/|2002 1/|2003 1/| 2002 | 2002 | Nov. | Dec. | Jan. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 139.1 139.1 141.2 2.8 1.5 -0.3 -0.1 1.6 | FINISHED CONSUMER GOODS...............................| 140.0 139.8 142.5 3.9 1.9 -.4 -.1 1.9 | FINISHED CONSUMER FOODS..............................| 138.7 139.6 141.7 .4 1.5 .4 .4 1.6 | | 01-11 | Fresh fruits and melons 2/..........................| 91.3 75.5 77.1 -28.9 2.1 -12.0 -8.5 2.1 01-13 | Fresh and dry vegetables 2/.........................| 115.2 113.7 134.4 -7.1 18.2 -.2 -5.0 18.2 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 77.9 97.1 95.2 6.5 -2.0 16.0 -3.5 1.4 02-11 | Bakery products 2/..................................| 190.2 191.6 194.2 2.9 1.4 .2 .4 1.4 02-13 | Milled rice 2/......................................| 83.6 85.4 85.9 2.4 .6 -3.0 2.9 .6 02-14-02 | Pasta products (June 1985=100) 2/...................| 121.5 121.5 123.9 1.4 2.0 0 0 2.0 02-21-01 | Beef and veal 2/....................................| 112.3 117.8 124.0 10.8 5.3 2.0 5.7 5.3 02-21-04 | Pork................................................| 102.0 105.8 108.7 -3.5 2.7 3.2 -.5 4.6 02-22-03 | Processed young chickens............................| 109.9 105.8 106.9 -7.7 1.0 .1 1.4 3.9 02-22-06 | Processed turkeys...................................| 95.6 92.9 90.1 -6.9 -3.0 -4.5 3.1 4.4 02-23 | Finfish and shellfish...............................| 192.0 181.1 189.6 2.9 4.7 -2.2 -9.6 4.3 02-3 | Dairy products......................................| 133.8 135.3 134.8 -3.7 -.4 .1 1.4 .4 02-4 | Processed fruits and vegetables 2/..................| 133.0 133.2 133.5 .8 .2 .5 .2 .2 02-55 | Confectionery end products 2/.......................| 174.5 177.4 179.7 3.0 1.3 .1 1.5 1.3 02-62 | Soft drinks.........................................| 151.5 152.2 153.3 2.0 .7 1.1 .5 -.5 02-63-01 | Roasted coffee 2/...................................| 121.5 120.7 121.4 -.4 .6 .3 -.6 .6 02-78 | Shortening and cooking oils 2/......................| 146.4 155.2 153.8 15.6 -.9 3.4 1.4 -.9 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 140.2 139.6 142.4 5.2 2.0 -.6 -.2 2.0 | | 02-61 | Alcoholic beverages.................................| 147.0 148.3 148.5 1.3 .1 -.6 .1 .1 03-81-01 | Women's apparel 2/..................................| 123.0 121.8 121.6 -1.5 -.2 0 0 -.2 03-81-02 | Men's and boys' apparel 2/..........................| 128.0 129.1 129.0 -1.5 -.1 -.2 -.3 -.1 03-81-03 | Girls', children's, and infants' apparel 2/.........| 119.4 119.9 120.2 2.9 .3 0 0 .3 03-82 | Textile housefurnishings 2/.........................| 122.2 121.9 121.9 -.3 0 -.1 0 0 04-3 | Footwear 2/.........................................| 145.9 146.5 146.5 .3 0 0 .2 0 05-41 | Residential electric power (Dec. 1990=100)..........| 119.6 112.7 112.8 -.3 .1 .1 .3 .1 05-51 | Residential gas (Dec. 1990=100).....................| 131.4 142.5 148.1 12.9 3.9 2.1 -.3 2.4 05-71 | Gasoline............................................| 90.3 82.1 95.0 52.5 15.7 -8.4 -1.2 13.7 05-73-02-01| Fuel oil No. 2......................................| 86.4 82.3 94.7 62.4 15.1 -8.0 4.2 19.7 06-38 | Pharmaceutical preparations (June 2001=100) 2/......| 103.3 104.4 105.7 4.4 1.2 .3 0 1.2 06-71 | Soaps and synthetic detergents 2/...................| 130.2 130.8 129.9 .2 -.7 .2 -.1 -.7 06-75 | Cosmetics and other toilet preparations 2/..........| 139.6 139.6 140.0 1.1 .3 .2 0 .3 07-12 | Tires, tubes, tread, etc 2/.........................| 95.3 95.3 97.1 3.4 1.9 0 0 1.9 09-15-01 | Sanitary papers and health products 2/..............| 149.7 150.9 151.2 1.7 .2 1.2 .2 .2 09-31-01 | Newspaper circulation 2/............................| 225.9 226.0 225.7 1.1 -.1 0 0 -.1 09-32-01 | Periodical circulation..............................| 211.6 212.7 220.4 6.9 3.6 .2 0 3.0 09-33 | Book publishing.....................................| 236.6 238.3 240.2 4.1 .8 .1 .2 1.2 12-1 | Household furniture.................................| 157.4 157.7 157.9 1.2 .1 0 0 .2 12-3 | Floor coverings 2/..................................| 131.2 129.5 131.0 .4 1.2 .8 -2.2 1.2 12-4 | Household appliances 2/.............................| 104.4 103.6 104.6 -.9 1.0 -.4 -.1 1.0 12-5 | Home electronic equipment 2/........................| 68.8 68.4 68.4 -1.7 0 0 -.3 0 12-62 | Household glassware.................................| 169.8 169.9 164.7 -3.1 -3.1 -.2 .1 -3.2 12-64 | Household flatware 2/...............................| 145.2 145.2 145.2 1.1 0 0 0 0 12-66 | Lawn and garden equip., ex. tractors 2/.............| 133.9 133.2 133.1 -.7 -.1 .1 -.5 -.1 14-11-01 | Passenger cars......................................| 125.2 126.4 130.4 -1.4 3.2 -2.7 -2.1 3.5 15-11 | Toys, games, and children's vehicles 2/.............| 124.9 124.6 125.2 .6 .5 0 0 .5 15-12 | Sporting and athletic goods 2/......................| 125.4 124.9 124.7 -.6 -.2 -3.1 3.1 -.2 15-2 | Tobacco products 2/.................................| 466.8 467.5 466.6 4.2 -.2 .1 0 -.2 15-5 | Mobile homes 2/.....................................| 167.0 166.5 166.5 .5 0 .1 -.2 0 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 130.1 130.2 131.7 1.5 1.2 .2 -.1 1.2 15-94-04 | Costume jewelry and novelties 2/....................| 144.4 144.4 144.4 .3 0 0 -.1 0 | | | CAPITAL EQUIPMENT.....................................| 138.3 138.6 139.6 -.1 .7 -.1 -.4 .7 | | 11-1 | Agricultural machinery and equipment 2/.............| 158.9 158.1 158.3 .4 .1 .1 0 .1 11-2 | Construction machinery and equipment................| 151.5 151.8 152.9 2.5 .7 .2 .3 .5 11-37 | Metal cutting machine tools 2/......................| 153.7 150.5 150.1 -2.3 -.3 -2.0 -.2 -.3 11-38 | Metal forming machine tools 2/......................| 167.3 167.3 167.3 1.0 0 0 0 0 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 140.6 140.5 140.0 -.7 -.4 0 0 -.4 11-41 | Pumps, compressors, and equipment...................| 161.5 161.9 162.2 1.3 .2 -.2 .3 -.2 11-44 | Industrial material handling equipment 2/...........| 136.9 137.5 137.5 .2 0 .1 .4 0 11-51 | Electronic computers (Dec. 1998=100) 2/.............| 40.5 38.4 38.1 -20.6 -.8 -2.0 -2.0 -.8 11-62 | Textile machinery 2/................................| 156.8 157.0 157.3 .1 .2 -.1 -.1 .2 11-64 | Paper industries machinery (June 1982=100)..........| 169.5 169.7 169.7 1.2 0 .1 .1 -.2 11-65 | Printing trades machinery 2/........................| 144.1 144.3 144.3 1.0 0 0 .1 0 11-74 | Transformers and power regulators 2/................| 131.4 132.2 132.0 0 -.2 -.7 .9 -.2 11-76 | Communication & related equip. (Dec. 1985=100) 2/...| 107.4 106.0 106.2 -2.8 .2 -.5 -.5 .2 11-79-05 | X-ray and electromedical equipment 2/...............| 101.0 100.8 100.2 -.5 -.6 -.2 .1 -.6 11-91 | Oil field and gas field machinery ..................| 136.0 136.0 136.8 1.0 .6 0 0 .2 11-92 | Mining machinery and equipment 2/...................| 152.1 154.4 154.6 3.0 .1 0 1.5 .1 11-93 | Office and store machines and equipment 2/..........| 112.2 112.6 112.0 .1 -.5 .3 0 -.5 12-2 | Commercial furniture 2/.............................| 161.6 160.8 161.4 .6 .4 .3 -.2 .4 14-11-05 | Light motor trucks..................................| 144.1 149.4 153.8 .7 2.9 .8 -2.2 4.1 14-11-06 | Heavy motor trucks 2/...............................| 153.2 156.5 156.5 4.5 0 1.5 .3 0 14-14 | Truck trailers 2/...................................| 138.2 138.3 138.3 .2 0 0 .2 0 14-21-02 | Civilian aircraft (Dec. 1985=100)...................| 172.5 174.0 174.2 2.6 .1 .3 .1 .2 14-31 | Ships (Dec. 1985=100) 2/............................| 150.7 151.3 150.9 1.1 -.3 .1 -.1 -.3 14-4 | Railroad equipment 2/...............................| 134.6 134.7 134.8 -.1 .1 .4 0 .1 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 129.3 129.4 131.2 4.5 1.4 0 -.2 1.3 | | | INTERMEDIATE FOODS AND FEEDS..........................| 118.0 119.1 120.3 5.9 1.0 .6 1.2 1.3 | | 02-12-03 | Flour 2/............................................| 123.8 120.7 122.8 9.3 1.7 -2.5 -2.0 1.7 02-53 | Refined sugar and byproducts 2/.....................| 118.9 120.6 120.9 5.7 .2 .3 1.0 .2 02-54 | Confectionery materials 2/..........................| 123.3 124.6 124.1 11.8 -.4 -2.0 1.6 -.4 02-72 | Crude vegetable oils 2/.............................| 101.3 114.1 117.8 56.9 3.2 12.7 3.4 3.2 02-9 | Prepared animal feeds 2/............................| 110.7 107.4 108.1 5.2 .7 -1.0 0 .7 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 130.0 130.0 131.8 4.5 1.4 0 -.3 1.3 | | 03-1 | Synthetic fibers 2/.................................| 106.6 106.3 106.1 -.8 -.2 .4 -.5 -.2 03-2 | Processed yarns and threads 2/......................| 102.4 102.6 101.9 -.6 -.7 .1 .1 -.7 03-3 | Gray fabrics 2/.....................................| 112.5 111.9 111.0 -1.6 -.8 .2 -.6 -.8 03-4 | Finished fabrics....................................| 120.9 121.0 121.4 .7 .3 .7 -.4 .7 03-83-03 | Industrial textile products 2/......................| 131.0 132.6 131.6 -1.6 -.8 -.3 -.7 -.8 04-2 | Leather 2/..........................................| 207.7 208.4 209.1 7.0 .3 2.2 -.7 .3 05-32 | Liquefied petroleum gas 2/..........................| 120.9 129.9 147.9 97.2 13.9 -2.2 7.0 13.9 ____________________________________________________________________________________________________________________________________ See footnotes at end of table. Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing - Continued (1982=100 unless otherwise indicated) ____________________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | | Unadjusted index |change to |percent change from: Commodity | | |Jan. 2003 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Sept. |Dec. |Jan. | Jan. | Dec. |Oct. to|Nov. to|Dec. to | |2002 1/|2002 1/|2003 1/| 2002 | 2002 | Nov. | Dec. | Jan. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 144.0 134.7 135.0 -0.1 0.2 0.7 0.3 0.8 05-43 | Industrial electric power...........................| 145.8 139.6 139.7 2.5 .1 3.3 -.3 .1 05-52 | Commercial natural gas (Dec. 1990=100)..............| 131.5 148.3 157.9 16.4 6.5 .2 0 4.3 05-53 | Industrial natural gas (Dec. 1990=100)..............| 132.7 153.1 165.4 19.0 8.0 .3 -1.0 7.3 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 99.8 128.4 145.2 41.1 13.1 -.9 -.1 4.3 05-72-03 | Jet fuels...........................................| 81.7 78.9 97.0 59.3 22.9 -5.2 .6 25.9 05-73-03 | No. 2 Diesel fuel...................................| 92.3 86.9 98.8 67.7 13.7 -10.6 7.5 17.6 05-74 | Residual fuel 2/....................................| 85.9 73.6 86.0 48.5 16.8 1.6 -21.7 16.8 06-1 | Industrial chemicals 2/.............................| 130.3 132.4 138.0 15.4 4.2 1.4 -1.8 4.2 06-21 | Prepared paint......................................| 167.5 167.5 167.1 .7 -.2 -.1 .1 -.8 06-22 | Paint materials 2/..................................| 171.6 172.7 172.4 18.2 -.2 .6 .1 -.2 06-31 | Medicinal and botanical chemicals 2/................| 133.5 132.4 132.9 .8 .4 0 -.5 .4 06-4 | Fats and oils, inedible.............................| 99.8 117.4 125.3 65.5 6.7 6.2 8.5 11.4 06-51 | Mixed fertilizers...................................| 114.3 113.8 114.2 .4 .4 .1 -.1 -.3 06-52-01 | Nitrogenates........................................| 104.9 113.9 121.5 15.6 6.7 2.1 .4 2.3 06-52-02 | Phosphates 2/.......................................| 101.1 101.2 101.9 5.7 .7 -.5 -.1 .7 06-53 | Other agricultural chemicals 2/.....................| 148.7 150.3 150.6 1.1 .2 0 2.0 .2 06-6 | Plastic resins and materials........................| 136.7 135.7 138.1 13.2 1.8 1.3 .5 2.1 07-11-02 | Synthetic rubber 2/.................................| 121.4 121.4 123.9 4.4 2.1 .7 -1.6 2.1 07-21 | Plastic construction products ......................| 140.5 133.4 136.0 4.6 1.9 -3.4 .3 2.6 07-22 | Unsupported plastic film, sheet, & other shapes 2/..| 137.2 136.8 137.4 1.5 .4 -.9 -.1 .4 07-26 | Plastic parts and components for manufacturing 2/...| 116.2 116.6 116.1 -.5 -.4 .1 0 -.4 08-11 | Softwood lumber.....................................| 169.5 165.6 165.3 -1.5 -.2 .7 -.5 -1.9 08-12 | Hardwood lumber ....................................| 178.8 180.8 181.9 2.7 .6 .1 .6 .5 08-2 | Millwork............................................| 180.4 179.5 179.5 .3 0 -.1 .1 .1 08-3 | Plywood 2/..........................................| 149.7 146.3 145.9 -1.6 -.3 -1.6 -.5 -.3 09-11 | Woodpulp 2/.........................................| 119.1 118.3 116.2 1.5 -1.8 .5 -1.4 -1.8 09-13 | Paper 2/............................................| 144.5 146.2 145.6 -.2 -.4 .3 -.1 -.4 09-14 | Paperboard 2/.......................................| 166.7 166.8 166.7 1.0 -.1 -.1 -.4 -.1 09-15-03 | Paper boxes and containers 2/.......................| 173.3 174.4 174.1 .2 -.2 .2 -.2 -.2 09-2 | Building paper and board 2/.........................| 130.2 128.6 129.1 3.3 .4 -1.4 -.7 .4 09-37 | Commercial printing (June 1982=100) 2/..............| 157.2 157.6 157.4 .3 -.1 -.1 .1 -.1 10-15 | Foundry and forge shop products.....................| 136.9 137.0 136.8 0 -.1 -.1 0 -.2 10-17 | Steel mill products.................................| 109.7 109.5 109.1 11.0 -.4 .9 -.1 .3 10-22 | Primary nonferrous metals 2/........................| 97.4 102.8 103.0 2.3 .2 4.7 1.0 .2 10-25-01 | Aluminum mill shapes 2/.............................| 142.5 143.5 142.8 -1.6 -.5 .1 .1 -.5 10-25-02 | Copper and brass mill shapes 2/.....................| 146.1 147.1 148.3 -.5 .8 -.1 .3 .8 10-26 | Nonferrous wire and cable 2/........................| 133.3 133.1 132.3 -3.8 -.6 .5 -.3 -.6 10-3 | Metal containers 2/.................................| 107.7 108.4 109.5 1.3 1.0 .3 -.1 1.0 10-4 | Hardware 2/.........................................| 156.0 155.7 156.2 .1 .3 -.1 .1 .3 10-5 | Plumbing fixtures and brass fittings................| 182.7 182.0 182.0 .6 0 -.4 .3 -.1 10-6 | Heating equipment 2/................................| 158.4 158.2 161.7 2.9 2.2 0 .2 2.2 10-7 | Fabricated structural metal products 2/.............| 145.9 145.4 145.7 1.2 .2 -.1 0 .2 10-88 | Fabricated ferrous wire products (June 1982=100) 2/.| 129.9 129.6 129.5 .2 -.1 .3 -.5 -.1 10-89 | Other misc. metal products 2/.......................| 126.8 127.7 127.1 .2 -.5 .7 -.1 -.5 11-45 | Mechanical power transmission equipment.............| 169.4 169.9 171.8 1.6 1.1 -.1 -.1 .6 11-48 | Air conditioning and refrigeration equipment 2/.....| 137.3 137.1 137.4 1.0 .2 0 0 .2 11-49-02 | Metal valves, ex.fluid power (Dec. 1982=100)........| 167.3 168.1 168.4 1.4 .2 0 0 .1 11-49-05 | Ball and roller bearings............................| 170.4 170.6 171.5 .9 .5 0 0 .5 11-71 | Wiring devices 2/...................................| 155.4 152.6 153.1 .6 .3 -.3 -.5 .3 11-73 | Motors, generators, motor generator sets............| 146.8 147.6 147.7 .8 .1 1.0 -.2 -.1 11-75 | Switchgear, switchboard, etc., equipment 2/.........| 157.4 158.9 158.2 -.2 -.4 -.2 .1 -.4 11-78 | Electronic components and accessories 2/............| 92.3 92.1 92.1 -.8 0 .1 -.3 0 11-94 | Internal combustion engines.........................| 144.7 145.8 143.8 -.3 -1.4 .1 .3 -1.5 11-95 | Machine shop products 2/............................| 139.9 140.2 140.4 .4 .1 .1 0 .1 13-11 | Flat glass 2/.......................................| 111.1 111.8 111.5 .3 -.3 -.5 .8 -.3 13-22 | Cement..............................................| 154.1 153.1 152.8 1.7 -.2 -.1 .6 -.1 13-3 | Concrete products...................................| 152.9 152.6 153.4 -.1 .5 -.1 .3 .3 13-6 | Asphalt felts and coatings..........................| 112.0 110.3 109.5 -.8 -.7 -.3 -.3 -.4 13-7 | Gypsum products 2/..................................| 170.9 170.4 168.7 2.9 -1.0 -1.0 -.2 -1.0 13-8 | Glass containers 2/.................................| 136.2 136.9 138.5 3.0 1.2 -.1 0 1.2 14-12 | Motor vehicle parts 2/..............................| 112.2 112.3 111.3 -1.7 -.9 .5 -.1 -.9 14-23 | Aircraft engines & engine parts (Dec. 1985=100).....| 145.4 145.6 146.5 .9 .6 0 .1 -.1 14-25 | Aircraft parts & aux.equip.,nec (June 1985=100).....| 151.0 149.9 149.1 -1.5 -.5 .1 .2 -1.1 15-42 | Photographic supplies 2/............................| 119.1 119.1 120.2 -7.7 .9 0 0 .9 15-6 | Medical/surgical/personal aid devices 2/............| 151.3 151.7 153.9 2.7 1.5 0 .2 1.5 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 110.9 119.4 127.9 29.3 7.1 5.7 2.2 6.9 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 100.7 100.4 105.7 6.1 5.3 1.1 1.5 5.4 | | 01-21 | Wheat 2/............................................| 126.3 106.3 97.5 12.5 -8.3 -10.8 -4.3 -8.3 01-22-02-05| Corn................................................| 111.9 91.8 91.5 14.1 -.3 -6.2 -3.0 -2.4 01-31 | Slaughter cattle 2/.................................| 96.5 104.6 114.1 15.4 9.1 4.3 3.4 9.1 01-32 | Slaughter hogs......................................| 44.5 50.2 53.4 -15.4 6.4 2.6 3.0 1.7 01-41-02 | Slaughter broilers/fryers...........................| 128.9 119.7 147.9 11.3 23.6 -.4 5.7 21.8 01-42 | Slaughter turkeys...................................| 108.2 110.7 99.5 -.9 -10.1 6.4 8.1 6.9 01-6 | Fluid milk..........................................| 86.7 88.9 88.9 -11.3 0 2.8 1.7 3.7 01-83-01-31| Soybeans 2/.........................................| 99.5 95.4 93.3 25.2 -2.2 3.6 -.5 -2.2 02-52-01-01| Cane sugar,raw 2/...................................| 115.1 117.4 114.7 2.4 -2.3 2.4 -1.2 -2.3 | | | CRUDE NONFOOD MATERIALS..............................| 115.4 130.6 141.3 48.7 8.2 8.9 2.6 7.9 | | 01-51-01-01| Raw cotton 2/.......................................| 63.7 77.5 80.6 48.2 4.0 13.1 5.3 4.0 01-92-01-01| Leaf tobacco 2/.....................................| 106.7 116.4 115.8 2.3 -.5 4.6 2.3 -.5 04-19 | Hides and skins (June 2001=100) 2/..................| 87.8 85.0 84.3 18.6 -.8 -2.3 -.5 -.8 05-1 | Coal 2/.............................................| 97.6 97.9 99.8 -1.6 1.9 .6 -1.6 1.9 05-31 | Natural gas 2/......................................| 120.9 181.9 196.9 98.3 8.2 37.9 3.3 8.2 05-61 | Crude petroleum 2/..................................| 77.5 71.4 86.0 77.0 20.4 -13.5 6.6 20.4 08-5 | Logs, timber, etc...................................| 180.1 180.6 179.1 .6 -.8 .3 -.6 -1.3 09-12 | Wastepaper 2/.......................................| 192.8 188.7 182.2 31.2 -3.4 -.1 -.7 -3.4 10-11 | Iron ore 2/.........................................| 95.0 95.0 95.6 .2 .6 0 0 .6 10-12 | Iron and steel scrap................................| 153.7 141.7 152.8 32.3 7.8 -.4 -1.2 .9 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 69.3 68.8 72.4 13.1 5.2 -.4 1.9 5.2 10-23-01 | Copper base scrap 2/................................| 109.8 116.8 117.5 9.8 .6 4.5 2.3 .6 10-23-02 | Aluminum base scrap.................................| 156.4 159.8 161.8 8.8 1.3 2.1 -.1 -.2 13-21 | Construction sand, gravel, and crushed stone........| 173.7 174.2 174.8 2.2 .3 .1 .7 -.3 ____________________________________________________________________________________________________________________________________ 1/ The indexes for September 2002 have been recalculated to incorporate 2/ Not seasonally adjusted. late reports and corrections by respondents. All indexes are subject 3/ Not available. 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. 2002 | Dec. 2002 | Jan. 2003 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 390.5 | 390.3 | 396.4 | | All commodities................................| 132.3 | 133.0 | 135.5 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 124.2 | 124.9 | 127.5 | 01 | Farm products................................| 99.8 | 99.0 | 104.1 | 02 | Processed foods and feeds....................| 136.3 | 137.6 | 139.0 | | | | | | | Industrial commodities.........................| 133.7 | 134.5 | 136.9 | 03 | Textile products and apparel.................| 119.8 | 119.7 | 119.6 | 04 | Hides, skins, leather, and related products..| 161.0 | 160.6 | 160.5 | 05 | Fuels and related products and power.........| 97.5 | 99.6 | 106.7 | 06 | Chemicals and allied products 2/.............| 154.1 | 155.3 | 158.2 | 07 | Rubber and plastic products..................| 127.8 | 127.0 | 127.9 | 08 | Lumber and wood products.....................| 173.0 | 171.8 | 171.9 | 09 | Pulp, paper, and allied products.............| 186.8 | 187.6 | 188.2 | 10 | Metals and metal products....................| 127.1 | 127.2 | 127.6 | 11 | Machinery and equipment......................| 122.7 | 122.4 | 122.5 | 12 | Furniture and household durables.............| 133.8 | 133.2 | 133.8 | 13 | Nonmetallic mineral products.................| 146.7 | 146.5 | 146.8 | 14 | Transportation equipment.....................| 142.5 | 143.9 | 145.3 | 15 | Miscellaneous products.......................| 183.2 | 183.4 | 184.0 | | | | | | | Industrial commodities less fuels and related | | | | | products and power...........................| 143.2 | 143.5 | 144.3 | | | | | | | | | | | | OTHER COMMODITY GROUPINGS | | | | | | | | | 01-1 | Fruits and melons, fresh and dry vegetables, | | | | | and tree nuts................................| 106.7 | 98.8 | 108.4 | 01-2 | Grains.........................................| 114.1 | 96.3 | 93.8 | 01-3 | Slaughter livestock............................| 83.1 | 90.6 | 98.4 | 01-4 | Slaughter poultry..............................| 123.1 | 116.3 | 136.3 | 01-5 | Plant and animal fibers........................| 64.7 | 78.6 | 81.6 | 01-7 | Chicken eggs...................................| 89.0 | 112.7 | 106.0 | 01-8 | Hay, hayseeds, and oilseeds....................| 125.4 | 120.9 | 118.6 | 01-83 | Oilseeds.......................................| 110.4 | 106.0 | 104.1 | 01-9 | Other farm products............................| 159.1 | 173.6 | 172.7 | 02-1 | Cereal and bakery products.....................| 166.1 | 167.1 | 168.9 | 02-2 | Meats, poultry, and fish.......................| 116.9 | 118.4 | 121.6 | 02-22 | Processed poultry..............................| 111.1 | 109.0 | 108.9 | 02-5 | Sugar and confectionery........................| 143.3 | 145.4 | 146.4 | 02-6 | Beverages and beverage materials...............| 148.1 | 148.8 | 149.5 | 02-63 | Packaged beverage materials....................| 123.8 | 123.1 | 123.7 | 02-7 | Fats and oils..................................| 126.0 | 146.0 | 150.2 | 03-81 | Apparel........................................| 125.4 | 125.2 | 125.2 | 04-4 | Other leather and related products.............| 147.9 | 148.0 | 147.8 | 05-3 | Gas fuels......................................| 118.8 | 166.9 | 182.4 | 05-4 | Electric power.................................| 142.4 | 134.5 | 134.6 | 05-7 | Refined petroleum products.....................| 88.2 | 81.1 | 92.9 | 06-3 | Drugs and pharmaceuticals......................| 266.8 | 268.8 | 271.5 | 06-5 | Agricultural chemicals and products............| 124.1 | 126.5 | 128.3 | 06-7 | Other chemicals and allied products............| 139.9 | 140.1 | 140.2 | 07-1 | Rubber and rubber products.....................| 117.4 | 117.4 | 118.7 | 07-11 | Rubber, except natural rubber..................| 120.8 | 120.8 | 123.2 | 07-13 | Miscellaneous rubber products..................| 140.9 | 140.8 | 141.1 | 07-2 | Plastic products...............................| 135.8 | 134.7 | 135.5 | 08-1 | Lumber.........................................| 169.9 | 168.2 | 168.4 | 09-1 | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 156.4 | 157.2 | 156.8 | 09-15 | Converted paper and paperboard products........| 164.0 | 165.2 | 165.2 | 10-1 | Iron and steel.................................| 118.6 | 117.4 | 118.2 | 10-2 | Nonferrous metals..............................| 119.4 | 120.8 | 121.3 | 10-25 | Nonferrous mill shapes.........................| 136.2 | 136.3 | 136.5 | 11-3 | Metalworking machinery and equipment...........| 150.4 | 150.1 | 150.1 | 11-4 | General purpose machinery and equipment........| 154.5 | 154.8 | 155.2 | 11-6 | Special industry machinery.....................| 165.3 | 165.6 | 165.8 | 11-7 | Electrical machinery and equipment.............| 116.1 | 115.6 | 115.6 | 11-9 | Miscellaneous machinery and equipment..........| 136.5 | 137.1 | 136.6 | 12-6 | Other household durable goods..................| 158.5 | 158.3 | 157.8 | 13-2 | Concrete ingredients...........................| 163.5 | 163.5 | 163.7 | 14-1 | Motor vehicles and equipment...................| 127.0 | 128.8 | 130.6 | 15-1 | Toys, sporting goods, small arms, etc..........| 133.3 | 133.0 | 133.2 | 15-4 | Photographic equipment and supplies............| 105.5 | 105.5 | 106.5 | 15-9 | Other miscellaneous products...................| 139.8 | 140.8 | 141.2 | __________________________________________________________|___________|___________|___________| 1/ Data for September 2002 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._2003_from:__ code | |base | | | | | | | |Sep. |Dec. |Jan. | Jan. | Dec. | | |2002 2/|2002 2/|2003 2/| 2002 | 2002 __________________|______________________________________________|_____|_______|_______|_______|________|___________ | | | |Total mining industries...................... |12/84| 100.1 115.6 126.2 54.1 9.2 10 | Metal mining................................ |12/84| 73.6 73.7 76.7 8.0 4.1 12 | Coal mining................................. |12/85| 92.8 93.0 93.5 -1.9 .5 13 | Oil and gas extraction...................... |12/85| 112.8 136.8 153.0 82.1 11.8 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 143.5 144.4 145.0 1.8 .4 | | | |Total manufacturing industries............... |12/84| 135.0 134.1 135.9 3.2 1.3 20 | Food and kindred products................... |12/84| 136.1 132.8 133.8 1.7 .8 21 | Tobacco manufactures........................ |12/84| 408.5 409.0 408.5 4.3 -.1 22 | Textile mill products....................... |12/84| 115.6 115.4 115.9 -.3 .4 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 125.1 125.3 125.2 0 -.1 24 | Lumber and wood products, except furniture.. |12/84| 155.3 154.2 154.4 .3 .1 25 | Furniture and fixtures...................... |12/84| 147.0 146.5 146.9 .9 .3 26 | Paper and allied products................... |12/84| 144.1 145.0 145.0 .6 0 27 | Printing, publishing, and allied industries. |12/84| 193.4 194.2 195.7 1.9 .8 28 | Chemicals and allied products............... |12/84| 158.7 159.6 160.8 4.4 .8 29 | Petroleum refining and related products..... |12/84| 109.6 102.4 116.3 49.7 13.6 30 | Rubber and miscellaneous plastic products... |12/84| 126.3 125.6 126.4 1.0 .6 31 | Leather and leather products................ |12/84| 141.9 142.4 142.3 1.5 -.1 32 | Stone, clay, glass, and concrete products... |12/84| 137.6 137.2 137.6 .5 .3 33 | Primary metal industries.................... |12/84| 117.9 117.9 117.5 3.3 -.3 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 132.1 132.3 132.4 .9 .1 35 | Machinery, except electrical................ |12/84| 116.8 116.6 116.6 -.9 0 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 105.4 104.5 104.3 -2.2 -.2 37 | Transportation equipment.................... |12/84| 135.1 136.8 138.5 .4 1.2 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 128.7 128.9 129.8 1.2 .7 39 | Miscellaneous manufacturing industries...... |12/85| 133.5 133.7 133.9 .9 .1 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 106.7 107.4 107.2 0.9 -0.2 42 | Motor freight transportation and warehousing |06/93| 125.1 125.9 126.5 2.7 .5 43 | United States Postal Service................ |06/89| 155.0 155.0 155.0 6.6 0 44 | Water transportation........................ |12/92| 139.0 142.3 142.4 10.1 .1 45 | Transportation by air....................... |12/92| 158.6 160.7 160.6 2.2 -.1 46 | Pipelines, except natural gas............... |12/86| 112.5 112.3 111.2 .1 -1.0 48 | Communications.............................. |06/01| 97.9 97.7 97.1 .1 -.6 54 | Food stores................................. |12/99| 114.9 113.9 116.0 1.3 1.8 55 | Automotive dealers and gasoline service | | | stations................................... |12/01| 84.3 85.6 85.8 -10.5 .2 59 | Miscellaneous retail........................ |06/00| 102.7 104.1 105.7 .7 1.5 80 | Health services............................. |12/94| 120.0 120.5 121.1 2.6 .5 81 | Legal services.............................. |12/96| 122.5 122.9 124.6 3.5 1.4 ____________________________________________________________________________________________________________________ 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 September 2002 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. NOTE: NAICS 2002 replaces the SIC classification system beginning with the release of PPI data for January 2004. See http://www.bls.gov/ppi/ppinaics.htm for details. Table 5. Producer price indexes by stage of processing, seasonally adjusted (1982=100) _____________________________________________________________________________________________________________ | | Index 1/ |_____________________________________________________ Grouping | | | | | | | Aug. | Sep. | Oct. | Nov. | Dec. | Jan. | 2002 | 2002 | 2002 | 2002 | 2002 | 2003 _______________________________________________________|________|________|________|________|________|________ | Finished goods...................................| 138.6 139.0 140.0 139.6 139.4 141.6 Finished consumer goods........................| 139.2 139.6 140.9 140.4 140.3 143.0 Finished consumer foods......................| 138.8 138.2 138.7 139.3 139.9 142.1 Crude......................................| 127.0 118.7 121.8 120.2 111.5 120.3 Processed..................................| 139.8 139.8 140.1 140.9 142.3 143.9 Finished consumer goods, excluding foods.....| 139.0 139.8 141.4 140.5 140.2 143.0 Nondurable goods less foods................| 140.6 141.5 143.6 142.5 142.6 145.8 Durable goods..............................| 132.1 132.6 133.2 132.6 131.4 133.5 Capital equipment..............................| 138.6 139.0 139.1 138.9 138.4 139.4 Manufacturing industries.....................| 139.7 139.9 139.8 139.9 139.8 140.0 Nonmanufacturing industries..................| 138.2 138.6 138.7 138.5 137.7 139.1 | Intermediate materials, supplies, and components.| 128.2 128.9 129.8 129.8 129.5 131.2 Materials and components for manufacturing.....| 126.4 126.9 127.4 127.9 127.4 128.0 Materials for food manufacturing.............| 122.4 123.3 123.9 125.6 127.5 129.5 Materials for nondurable manufacturing.......| 130.3 131.5 133.0 133.5 131.7 133.6 Materials for durable manufacturing..........| 125.1 125.7 125.8 126.5 126.5 126.6 Components for manufacturing.................| 126.0 125.9 125.8 126.1 126.0 125.7 Materials and components for construction......| 151.8 152.0 151.9 151.5 151.5 151.9 Processed fuels and lubricants.................| 97.2 98.8 102.0 100.9 100.7 107.0 Manufacturing industries ....................| 99.5 101.4 102.9 103.7 102.4 107.4 Nonmanufacturing industries..................| 95.7 97.2 101.5 99.2 99.7 106.8 Containers.....................................| 151.5 152.5 153.5 153.8 153.4 153.6 Supplies.......................................| 139.3 139.6 139.7 139.7 139.7 140.0 Manufacturing industries.....................| 144.7 144.7 145.1 145.1 145.0 145.1 Nonmanufacturing industries..................| 136.8 137.1 137.1 137.2 137.1 137.5 Feeds......................................| 102.2 104.2 101.6 100.5 100.5 101.0 Other supplies.............................| 141.1 141.3 141.5 141.7 141.6 142.1 | Crude materials for further processing...........| 107.8 110.2 111.5 117.9 120.5 128.8 Foodstuffs and feedstuffs......................| 98.1 99.4 99.4 100.5 102.2 107.5 Nonfood materials..............................| 111.9 115.2 117.5 127.9 131.2 141.5 Nonfood materials except fuel 2/.............| 105.4 107.9 108.2 102.8 105.6 114.3 Manufacturing 2/...........................| 96.7 99.0 99.3 94.2 96.9 105.1 Construction...............................| 182.2 182.3 183.1 182.4 181.8 180.2 Crude fuel 3/................................| 111.1 115.4 120.8 157.1 160.9 172.8 Manufacturing industries...................| 107.6 111.5 116.6 150.0 153.4 164.6 Nonmanufacturing industries................| 113.4 117.9 123.4 160.6 164.5 176.7 | Special groupings | | Finished goods, excluding foods..................| 138.4 139.0 140.1 139.5 139.0 141.3 Intermediate materials less foods and feeds......| 128.9 129.6 130.5 130.5 130.1 131.8 Intermediate foods and feeds.....................| 116.3 117.6 117.2 117.9 119.3 120.8 Crude materials less agricultural products 2/....| 112.9 116.4 118.8 129.4 132.7 143.5 | Finished energy goods............................| 89.8 90.9 93.9 92.2 92.4 96.8 Finished goods less energy.......................| 146.7 146.9 147.2 147.2 146.9 148.5 Finished consumer goods less energy..............| 150.1 150.2 150.7 150.8 150.6 152.3 | Finished goods less foods and energy.............| 149.8 150.2 150.6 150.4 149.7 151.0 Finished consumer goods less foods and energy....| 157.4 157.8 158.3 158.1 157.5 158.9 Consumer nondurable goods less foods and energy..| 177.9 178.3 178.7 178.8 178.8 179.5 | Intermediate energy goods........................| 96.5 98.6 102.0 100.8 99.8 105.9 Intermediate materials less energy...............| 135.0 135.3 135.5 135.8 135.7 136.2 Intermediate materials less foods and energy.....| 136.2 136.4 136.7 137.0 136.8 137.2 | Crude energy materials 2/........................| 101.2 105.9 108.9 123.2 127.6 141.6 Crude materials less energy......................| 108.6 109.5 109.6 110.7 112.0 116.4 Crude nonfood materials less energy 3/...........| 139.5 139.2 139.7 140.9 141.6 143.0 _____________________________________________________________________________________________________________ 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 September 2002 have been recalculated to incorporate late reports and corrections by respondents. 2/ Includes crude petroleum. 3/ Excludes crude petroleum. Technical Note Brief Explanation of Producer Price Indexes The term Producer Price Index (PPI) refers to a family of indexes that measure the average change over time in the selling prices received by domestic producers of goods and services. PPIs measure price change from the perspective of the seller. This contrasts with other measures, such as the Consumer Price Index (CPI); CPIs measure price change from the purchaser's perspective. Sellers' and purchasers' prices may differ due to government subsidies, sales and excise taxes, and distribution costs. More than 10,000 PPIs for individual products and groups of products are released each month. PPIs are available for the products of virtually every industry in the mining and manufacturing sectors of the U.S. economy. New PPIs are gradually being introduced for the products of industries in the transportation, utilities, trade, finance, and services sectors of the economy. More than 100,000 price quotations per month are organized into three sets of producer price indexes: (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, 2, and 5) organizes products by class of buyer and degree of fabrication. 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). 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. The Bureau publishes price indexes instead of unit dollar prices. 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. The BLS periodically updates the PPI sample of survey respondents to better reflect current conditions when the structure, membership, technology, or product mix of an industry shifts significantly and to spread reporting burden among smaller firms. Results of these resampling efforts are incorporated into the PPI every January and July. As part of an ongoing effort to expand coverage to sectors of the economy other than mining and manufacturing, an increasing number of service sector industries have been introduced into the PPI. The following list of recently introduced service industries includes the month in which an article describing the industry's content appeared in the PPI Detailed Report: PPI Detailed Industry SIC Report Issue Wireless Telecommunications 4812 July 1999 Telephone Communications, Except Radio Telephone 4813 July 1995 Television Broadcasting 4833 July 2002 Grocery Stores 5411 July 2000 Meat and Fish (Seafood) Markets, 5421 July 2000 Fruit and Vegetable Markets 5431 July 2000 Candy, Nut, and Confectionery Stores 5441 July 2000 Retail Bakeries 5461 July 2000 Miscellaneous Food Stores 5499 July 2000 New Car Dealers 5511 July 2000 Gasoline Service Stations 5541 January 2002 Boat Dealers 5551 January 2002 Recreational Vehicle Dealers 5561 January 2002 Miscellaneous Retail 59 January 2001 Security Brokers, Dealers, and Investment Bankers 6211 January 2001 Life Insurance Carriers 6311 January 1999 Property and Casualty Insurance 6331 July 1998 Operators and Lessors of Nonresidential Buildings 6512 January 1996 Real Estate Agents and Managers 6531 January 1996 Prepackaged Software 7372 January 1998 Data Processing Services 7374 January 2002 Home Health Care Services 8082 January 1997 Legal Services 8111 January 1997 Engineering, Design, Analysis, and Consulting Services 8711 January 1997 Architectural, Design, Analysis, and Consulting Services 8712 January 1997 Premiums for Property and Casualty Insurance 9331 July 1998 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 1992 values of shipments as reported in the Census of Manufactures and other sources. From January 1992 through December 1995, PPI weights were derived from 1987 shipment values. Industry indexes shown in table 4 are also now calculated with 1992 net output weights. This periodic update of the value weights used to calculate the PPI is done to more accurately reflect changes in production and marketing patterns in the economy. 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. 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. 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 14, "Producer Prices," in BLS Handbook of Methods (April 1997), Bulletin 2490. Reprints are available from the Bureau of Labor Statistics on request. Calculating Index Changes 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 today." 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. 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 changes are affected by the level of the index in relation to its base period, whereas percent changes are not. The example below shows the computation of index point and percent changes. 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 Seasonally Adjusted and Unadjusted Data Because price data are used for different purposes by different groups, the Bureau of Labor Statistics publishes seasonally adjusted and 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 that 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 (1) "Appendix A: Seasonal Adjustment Methodology at BLS," in the BLS Handbook of Methods (April 1997), Bulletin 2490 and (2) "Summary of Changes to the PPI's Seasonal Adjustment Methodology" in the January 1995 issue of Producer Price Indexes.