FOR DATA ONLY: (202) 691-5200 USDL 03-125 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), FRIDAY, http://www.bls.gov/ppi MARCH 14, 2003 Producer Price Indexes -- February 2003 The Producer Price Index for Finished Goods climbed 1.0 percent in February, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This increase followed a 1.6-percent advance in January and a 0.1-percent decline in December. At the earlier stages of processing, prices received by intermediate goods manufacturers rose 2.1 percent in February, following a 1.3-percent increase in the prior month. The crude goods index advanced 4.8 percent, compared with a 6.9- percent jump in January. (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 Feb. 0.3 1.1 0.6 0.0 -2.6 -0.1 -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. r .8 .4 r 3.4 .3 r .7 .7 r 2.2 Nov. r -.4 .4 r -1.9 r -.2 .9 0 r 4.7 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 Feb. 1.0 .6 7.4 -.5 3.5 2.1 4.8 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for October 2002 have been revised to reflect the availability of late reports and corrections by respondents. -2- Much of the February increase in the Producer Price Index for Finished Goods was due to prices for finished energy goods, which moved up 7.4 percent compared with a 4.8-percent gain in January. Excluding prices for energy goods, the finished goods index decreased 0.3 percent in February. The finished consumer foods index increased 0.6 percent in February, after posting a 1.6-percent gain in the prior month. By contrast, the index for finished goods other than foods and energy turned down 0.5 percent, following a 0.9-percent increase in January. The February decline was largely due to the decrease in the light motor trucks index. (Excluding prices for light motor trucks, the index for finished goods other than foods and energy edged down 0.1 percent in February.) Before seasonal adjustment, the Producer Price Index for Finished Goods increased 0.9 percent in February to 142.5 (1982=100). From February 2002 to February 2003, prices for finished goods rose 3.5 percent. This increase was due to a 24.8-percent jump in the index for finished energy goods. Prices for finished goods other than foods and energy inched up 0.1 percent over the 12 months ended February 2003, while the index for finished consumer foods showed no change. At the earlier stages of processing, prices received by producers of intermediate goods increased 6.7 percent, and the index for crude goods advanced 36.8 percent. 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 Feb. 0.0 -0.4 0.0 -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 r .2 r 5.1 r .3 r 15.4 Nov. .6 -1.2 .2 2.5 r .9 r 10.7 .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 Feb. .7 8.5 .7 6.7 .7 9.3 2.7 36.8 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for October 2002 have been revised to reflect the availability of late reports and corrections by respondents. -3- Finished goods Prices for finished energy goods jumped 7.4 percent in February, following a 4.8-percent increase in January. Over half of February's rise was due to price increases for gasoline, which rose 18.8 percent after registering a 13.7-percent advance in January. The indexes for residential natural gas, residential electric power, home heating oil, and liquefied petroleum gas also rose at a faster pace in February than they did in the prior month. Prices for finished consumer foods rose 0.6 percent in February, after posting a 1.6-percent gain in January. The indexes for beef and veal, pork, and bakery products also advanced at a slower pace then they did in the previous month. February's indexes for fresh and dry vegetables and dairy products turned down, while soft drink prices fell more rapidly in February than they did in the prior month. By contrast, after rising 3.9 percent in January, prices for processed young chickens increased 6.6 percent. The indexes for eggs for fresh use, fresh fruits and melons, and confectionery end products also rose more than in January. The index for finished consumer goods other than foods and energy fell 0.5 percent in February, following a 0.9-percent increase in the prior month. Prices charged by manufacturers for light motor trucks decreased 3.9 percent, after rising 4.1 percent in January. The indexes for passenger cars, pharmaceutical preparations, periodical circulation, and household appliances also fell, following increases in the previous month. Conversely, newspaper circulation prices turned up 1.9 percent in February, after edging down 0.1 percent in the prior month. The indexes for soaps and synthetic detergents and for lawn and garden equipment also turned up in February. Prices for cigarettes showed no change, following decreases in January. February prices for capital equipment declined 0.4 percent, compared with an increase of 0.7 percent in January. The indexes for light motor trucks, passenger cars, and construction machinery and equipment decreased, after rising in the prior month. Prices for electronic computers fell at a faster pace in February than they did in January. In contrast, the index for communication and related equipment climbed 0.5 percent, following a January increase of 0.2 percent. Prices for integrating and measuring instruments, ships, and tools and dies rose, after falling in the prior month. Intermediate goods The index for Intermediate Materials, Supplies, and Components rose 2.1 percent in February, following a 1.3-percent gain in the prior month. A faster rate of increase in prices for both intermediate energy goods and nondurable manufacturing materials accounted for most of the acceleration in the index for intermediate goods. Durable manufacturing material prices also advanced at a faster rate than they did in January. By contrast, the index for intermediate foods and feeds increased less in February than it did a month earlier. Prices for materials and components for construction rose at the same pace as they did in January. Excluding foods and energy, the index for intermediate goods moved up 0.7 percent in February, compared with a 0.3-percent gain in the prior month. (See table B.) The index for intermediate energy goods rose 8.5 percent in February, after advancing 6.1 percent in the previous month. Prices for natural gas to electric utilities jumped 26.4 percent, following a 4.3-percent increase in January. The indexes for gasoline, diesel fuel, residual fuel, home heating oil, and commercial natural gas also advanced at a faster pace than they did in the prior month. On the other hand, jet fuel prices moved up 10.4 percent in February, after increasing 25.9 percent in the previous month. The indexes for industrial natural gas and commercial electric power also increased less than they did in January. -4- Prices for nondurable manufacturing materials increased 3.4 percent in February, compared with a 1.4-percent gain a month earlier. The primary basic organic chemicals index rose 19.3 percent, after moving up 8.3 percent in the prior month. Prices for plastic resins and materials, intermediate basic organic chemicals, and nitrogenates also advanced at a faster rate in February than they did a month earlier. The indexes for basic inorganic chemicals and processed yarns and threads turned up, after falling in January. Partially counteracting these accelerating prices, the ethanol index rose 3.9 percent, following a 15.2-percent increase in January. The medicinal and botanical chemicals index also rose less than it did in the prior month. Prices for finished fabrics, inedible fats and oils, synthetic rubber, and stemmed and redried tobacco turned down in February, after moving up in January. After rising 0.1 percent in January, durable manufacturing goods prices advanced 0.6 percent in February. The index for hot rolled steel sheet and strip turned up 0.3 percent, following a 1.7-percent decrease in the previous month. Prices for primary aluminum (except extrusion billet), aluminum mill shapes, and prepared paint also moved up, after falling in January. The indexes for building paper and board and for copper and brass mill shapes rose at a faster rate then they did in the prior month. Alternatively, hot rolled steel bars, plates, and structural shapes prices declined 0.7 percent in February, following a 0.9-percent gain a month earlier. The indexes for cold rolled steel sheet and strip and for gold advanced at a slower pace than they did in January. Prices for adhesives and sealants and for silver turned down, after moving up in the previous month. The intermediate foods and feed index moved up 0.7 percent in February, following a 1.3-percent increase in the prior month. Prices for beef and veal and for pork also rose less than they did in January. The index for crude vegetable oils turned down, after rising a month earlier. The indexes for fluid milk products and for dry, condensed, and evaporated milk products decreased more than they did in the previous month. By contrast, prices for confectionery materials turned up 3.0 percent in February, compared with a 0.4-percent decline in the prior month. The indexes for processed young chickens and refined sugar increased at a faster pace in February than they did a month earlier. Prices for natural, processed, and imitation cheese and snack chips turned up, following decreases in January. The shortening and cooking oils index fell less than it did in the prior month. The index for materials and components for construction increased at the same rate in February as it did in January -- 0.3 percent. Rising prices for paving mixtures and blocks, steel mill products, concrete products, asphalt felts and coatings, heating equipment, and millwork outweighed falling prices for fabricated structural metal products, nonferrous wire and cable, treated wood, softwood lumber, and plumbing fixtures and brass fittings. Crude goods The Producer Price Index for Crude Materials for Further Processing advanced at a 4.8-percent rate in February, following a 6.9-percent increase in January. Prices for crude foodstuffs and feedstuffs and crude energy materials rose at a slower pace, compared with a month earlier. Conversely, the index for crude nonfood materials less energy rose more quickly in February than it did in January. (See table B.) Price increases for crude foodstuffs and feedstuffs slowed to a 0.7- percent rate in February from a 5.4-percent rate in January. The index for slaughter broilers and fryers moved up 1.4 percent, following a 21.8- percent jump in the prior month. Prices for slaughter cattle, fluid milk, and fresh vegetables, except potatoes turned down in February, after rising in January. By contrast, corn prices increased 8.1 percent, compared with a 2.4-percent decline in the previous month. The indexes for wheat and soybeans also turned up in February. -5- The index for crude energy materials rose 9.3 percent, following an 11.0-percent advance a month earlier. Subsequent to a 20.4-percent increase in January, crude petroleum prices moved up 10.0 percent in February. The coal index fell 2.8 percent, after a 1.9-percent gain in January. On the other hand, natural gas prices jumped 11.5 percent in February, compared with an 8.2-percent advance in the preceding month. The index for crude nonfood materials less energy, which rose 1.0 percent in January, increased 2.7 percent in February. Much of this acceleration can be traced to prices for iron and steel scrap; an 11.7- percent advance followed a 0.9-percent gain in the previous month. The indexes for wastepaper; aluminum base scrap; hides and skins; construction sand, gravel, and crushed stone; and softwood logs, bolts, and timber turned up, after falling in January. Raw cotton prices rose more quickly in February than they did a month earlier. Conversely, the index for gold ores grew at a slower pace in February compared with January -- 1.5 percent and 8.8 percent, respectively. Leaf tobacco prices decreased more than they did in the prior month. Net output price indexes for mining, manufacturing, and services industries Mining. The Producer Price Index for the Net Output of Total Mining Industries climbed 8.9 percent in February, following a 9.2-percent rise in January. (Net output price indexes are not seasonally adjusted.) The index for the crude petroleum and natural gas industry advanced 14.1 percent in February, following an 18.8-percent gain in January. Prices received by the bituminous coal and lignite surface mining industry and the iron ores industry turned down in February. The industry indexes for gold ores, underground bituminous coal mining, and crushed and broken limestone rose at a slower pace in February than they did a month earlier. By contrast, the industry index for natural gas liquids and natural gas residue posted an 8.1-percent increase, after rising 3.2 percent in January. Prices received by the oil and gas well drilling industry also rose at a faster pace in February than they did in January. The industry index for oil and gas field exploration services turned up in February. The Producer Price Index for the Net Output of Total Mining Industries was 137.4 (December 1984=100) in February, 76.2 percent above its year-ago level. Manufacturing. The Producer Price Index for the Net Output of Total Manufacturing Industries increased 1.4 percent in February, following a 1.3- percent gain in January. An 18.8-percent jump in the petroleum refining and related products industry group index led February's increase. The industry group indexes for food and kindred products; chemicals and allied products; lumber and wood products (except furniture); and printing, publishing, and allied industries also posted rising prices in February. Slightly tempering these increases, the industry group indexes for transportation equipment; machinery (except electrical); electrical and electronic machinery, equipment, and supplies; and textile mill products registered declining prices. In February, the Producer Price Index for the Net Output of Total Manufacturing Industries was 137.8 (December 1984=100), 4.4 percent higher than its year-ago level. Services. Among service industries, prices received by the industries for general medical and surgical hospitals, property and casualty insurance, hotels and motels, and life insurance carriers advanced in February. Alternatively, the industry indexes for scheduled air transportation; engineering design, analysis, and consulting services; wireless telecommunications; deep sea foreign transportation of freight; and freight transportation arrangement dropped in February. ***** Producer Price Index data for March 2003 will be released on Friday, April 11, 2003, at 8:30 a.m. (EDT). -6- 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. Historical index data based on the NAICS publication structure 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. 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| |Feb. 2003 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | |Oct. |Jan. |Feb. | Feb. | Jan. |Nov. to|Dec. to |Jan. to | 2002 1/|2002 2/|2003 2/|2003 2/| 2002 | 2003 | Dec. | Jan. | Feb. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 140.7 141.2 142.5 3.5 0.9 -0.1 1.6 1.0 Finished consumer goods........................| 73.437 141.6 142.5 144.3 4.9 1.3 -.1 1.9 1.5 Finished consumer foods......................| 20.682 139.2 141.7 142.3 0 .4 .4 1.6 .6 Crude......................................| 1.329 123.8 122.8 117.0 -20.1 -4.7 -7.2 7.9 -2.7 Processed..................................| 19.352 140.4 143.3 144.4 1.8 .8 1.0 1.1 .8 Finished consumer goods, excluding foods.....| 52.755 142.2 142.4 144.8 6.9 1.7 -.2 2.0 1.9 Nondurable goods less foods................| 36.542 143.8 144.7 148.7 10.7 2.8 .1 2.2 3.1 Durable goods..............................| 16.213 134.8 133.8 132.7 -1.0 -.8 -.9 1.6 -1.0 Capital equipment..............................| 26.563 139.9 139.6 139.1 -.5 -.4 -.4 .7 -.4 Manufacturing industries.....................| 7.829 140.1 140.1 140.0 -.2 -.1 -.1 .1 -.1 Nonmanufacturing industries..................| 18.733 139.7 139.3 138.7 -.6 -.4 -.6 1.0 -.5 | Intermediate materials, supplies, and components.| 100.000 129.7 131.2 133.6 6.7 1.8 -.2 1.3 2.1 Materials and components for manufacturing.....| 46.943 127.4 127.9 129.6 4.0 1.3 -.4 .5 1.3 Materials for food manufacturing.............| 2.928 124.3 128.9 129.6 5.7 .5 1.5 1.6 .6 Materials for nondurable manufacturing.......| 14.716 132.9 133.5 138.2 10.2 3.5 -1.3 1.4 3.4 Materials for durable manufacturing..........| 9.143 125.9 126.3 127.2 3.8 .7 0 .1 .6 Components for manufacturing.................| 20.156 125.8 125.8 125.9 -.3 .1 -.1 -.2 .1 Materials and components for construction......| 12.773 151.7 151.5 152.2 1.3 .5 0 .3 .3 Processed fuels and lubricants.................| 16.040 101.6 107.0 114.3 28.7 6.8 -.2 6.3 7.9 Manufacturing industries ....................| 6.410 102.0 108.7 113.8 22.1 4.7 -1.3 4.9 5.9 Nonmanufacturing industries..................| 9.630 101.5 105.9 114.6 33.3 8.2 .5 7.1 9.1 Containers.....................................| 3.252 153.3 153.6 153.9 1.3 .2 -.3 .1 .2 Supplies.......................................| 20.992 139.5 140.0 140.5 1.7 .4 0 .2 .4 Manufacturing industries.....................| 4.595 144.8 145.1 145.4 .6 .2 -.1 .1 .3 Nonmanufacturing industries..................| 16.397 137.0 137.6 138.1 2.1 .4 -.1 .3 .4 Feeds......................................| 1.097 101.8 101.0 102.0 9.2 1.0 0 .5 1.0 Other supplies.............................| 15.300 141.4 142.1 142.6 1.6 .4 -.1 .4 .4 | Crude materials for further processing...........| 100.000 112.6 127.9 134.1 36.8 4.8 2.2 6.9 4.8 Foodstuffs and feedstuffs......................| 38.228 99.9 105.7 106.3 4.2 .6 1.5 5.4 .7 Nonfood materials..............................| 61.772 119.0 141.3 151.9 66.2 7.5 2.6 7.9 7.4 Nonfood materials except fuel 3/.............| 32.486 107.5 114.1 120.8 35.0 5.9 2.7 8.2 5.8 Manufacturing 3/...........................| 31.651 98.6 104.9 111.1 35.8 5.9 2.9 8.5 5.9 Construction...............................| 0.835 182.9 179.7 181.1 1.3 .8 -.3 -.9 .5 Crude fuel 4/................................| 29.286 126.0 172.8 188.8 122.1 9.3 2.4 7.4 9.3 Manufacturing industries...................| 2.635 121.3 164.6 179.1 114.0 8.8 2.3 7.3 8.8 Nonmanufacturing industries................| 26.651 128.7 176.7 193.1 122.7 9.3 2.4 7.4 9.3 | Special groupings | | Finished goods, excluding foods..................|5/ 79.318 140.8 140.9 142.3 4.4 1.0 -.4 1.7 1.1 Intermediate materials less foods and feeds......|6/ 95.975 130.4 131.8 134.3 6.7 1.9 -.3 1.3 2.1 Intermediate foods and feeds.....................|6/ 4.025 117.4 120.3 121.2 6.7 .7 1.2 1.3 .7 Crude materials less agricultural products 3/ 7/.|8/ 59.797 120.3 143.3 154.3 67.9 7.7 2.6 8.1 7.5 | Finished energy goods............................|5/ 14.889 94.5 95.1 101.5 24.8 6.7 .2 4.8 7.4 Finished goods less energy.......................|5/ 85.111 147.9 148.5 148.2 .1 -.2 -.2 1.1 -.3 Finished consumer goods less energy..............|5/ 58.548 151.3 152.3 152.1 .3 -.1 -.1 1.1 -.1 | Finished goods less foods and energy.............|5/ 64.429 151.3 151.2 150.6 .1 -.4 -.5 .9 -.5 Finished consumer goods less foods and energy....|5/ 37.866 159.1 159.1 158.4 .5 -.4 -.4 .9 -.5 Consumer nondurable goods less foods and energy..|5/ 21.653 178.5 179.6 179.3 1.8 -.2 0 .4 -.1 | Intermediate energy goods........................|6/ 16.398 101.6 105.9 113.8 28.7 7.5 -1.0 6.1 8.5 Intermediate materials less energy...............|6/ 83.601 135.4 136.1 137.1 2.9 .7 -.1 .4 .7 Intermediate materials less foods and energy.....|6/ 79.577 136.6 137.2 138.2 2.7 .7 -.1 .3 .7 | Crude energy materials 3/........................|8/ 42.616 111.3 141.6 154.8 101.3 9.3 3.6 11.0 9.3 Crude materials less energy......................|8/ 57.384 109.9 115.0 116.6 7.5 1.4 1.2 3.9 1.4 Crude nonfood materials less energy 4/...........|8/ 19.156 139.3 142.5 146.7 14.5 2.9 .5 1.0 2.7 | _______________________________________________________________________________________________________________________________ 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 October 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 | | |Feb. 2003 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Oct. |Jan. |Feb. | Feb. | Jan. |Nov. to|Dec. to|Jan. to | |2002 1/|2003 1/|2003 1/| 2002 | 2003 | Dec. | Jan. | Feb. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 140.7 141.2 142.5 3.5 0.9 -0.1 1.6 1.0 | FINISHED CONSUMER GOODS...............................| 141.6 142.5 144.3 4.9 1.3 -.1 1.9 1.5 | FINISHED CONSUMER FOODS..............................| 139.2 141.7 142.3 0 .4 .4 1.6 .6 | | 01-11 | Fresh fruits and melons 2/..........................| 94.7 77.1 79.4 -15.9 3.0 -8.5 2.1 3.0 01-13 | Fresh and dry vegetables 2/.........................| 119.9 134.4 118.7 -32.8 -11.7 -5.0 18.2 -11.7 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 74.1 95.2 89.9 20.7 -5.6 -3.5 1.4 3.6 02-11 | Bakery products 2/..................................| 190.9 194.2 194.9 3.0 .4 .4 1.4 .4 02-13 | Milled rice 2/......................................| 83.3 85.9 87.9 6.3 2.3 2.9 .6 2.3 02-14-02 | Pasta products (June 1985=100) 2/...................| 121.5 123.9 126.5 3.4 2.1 0 2.0 2.1 02-21-01 | Beef and veal 2/....................................| 109.6 124.0 126.7 5.9 2.2 5.7 5.3 2.2 02-21-04 | Pork................................................| 106.4 108.7 112.2 -.6 3.2 -.5 4.6 1.1 02-22-03 | Processed young chickens............................| 105.4 106.9 112.7 -1.6 5.4 1.4 3.9 6.6 02-22-06 | Processed turkeys...................................| 93.8 90.1 88.6 -7.5 -1.7 3.1 4.4 .2 02-23 | Finfish and shellfish...............................| 204.6 189.6 193.3 -5.2 2.0 -9.6 4.3 1.7 02-3 | Dairy products......................................| 135.6 134.8 133.6 -4.0 -.9 1.4 .4 -.2 02-4 | Processed fruits and vegetables 2/..................| 133.2 133.5 133.7 1.1 .1 .2 .2 .1 02-55 | Confectionery end products 2/.......................| 174.7 179.7 182.5 4.4 1.6 1.5 1.3 1.6 02-62 | Soft drinks.........................................| 150.9 153.3 153.0 .6 -.2 .5 -.5 -1.0 02-63-01 | Roasted coffee 2/...................................| 121.4 121.4 122.3 .6 .7 -.6 .6 .7 02-78 | Shortening and cooking oils 2/......................| 148.1 153.8 153.1 16.7 -.5 1.4 -.9 -.5 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 142.2 142.4 144.8 6.9 1.7 -.2 2.0 1.9 | | 02-61 | Alcoholic beverages.................................| 147.2 148.5 148.6 1.4 .1 .1 .1 -.1 03-81-01 | Women's apparel 2/..................................| 123.0 121.6 120.7 -1.5 -.7 0 -.2 -.7 03-81-02 | Men's and boys' apparel 2/..........................| 128.4 129.0 128.4 -1.5 -.5 -.3 -.1 -.5 03-81-03 | Girls', children's, and infants' apparel 2/.........| 119.4 120.2 120.2 2.9 0 0 .3 0 03-82 | Textile housefurnishings 2/.........................| 122.2 121.9 121.9 -.6 0 0 0 0 04-3 | Footwear 2/.........................................| 146.1 146.5 147.1 .8 .4 .2 0 .4 05-41 | Residential electric power (Dec. 1990=100)..........| 115.6 112.8 113.3 .6 .4 .3 .1 .6 05-51 | Residential gas (Dec. 1990=100).....................| 135.3 148.1 152.8 19.6 3.2 -.3 2.4 4.8 05-71 | Gasoline............................................| 99.4 95.0 112.7 73.9 18.6 -1.2 13.7 18.8 05-73-02-01| Fuel oil No. 2......................................| 91.2 94.7 116.8 94.0 23.3 4.2 19.7 25.2 06-38 | Pharmaceutical preparations (June 2001=100) 2/......| 104.1 105.7 105.4 4.0 -.3 0 1.2 -.3 06-71 | Soaps and synthetic detergents 2/...................| 130.3 129.9 130.1 .2 .2 -.1 -.7 .2 06-75 | Cosmetics and other toilet preparations 2/..........| 139.6 140.0 140.0 .5 0 0 .3 0 07-12 | Tires, tubes, tread, etc 2/.........................| 95.3 97.1 97.8 3.2 .7 0 1.9 .7 09-15-01 | Sanitary papers and health products 2/..............| 148.8 151.2 151.0 2.4 -.1 .2 .2 -.1 09-31-01 | Newspaper circulation 2/............................| 227.0 225.7 229.9 2.2 1.9 0 -.1 1.9 09-32-01 | Periodical circulation..............................| 211.7 220.4 219.8 6.0 -.3 0 3.0 -.5 09-33 | Book publishing.....................................| 237.0 240.2 239.5 5.1 -.3 .2 1.2 0 12-1 | Household furniture.................................| 157.8 157.9 157.9 1.0 0 0 .2 -.1 12-3 | Floor coverings 2/..................................| 131.0 131.0 130.6 .6 -.3 -2.2 1.2 -.3 12-4 | Household appliances 2/.............................| 104.6 104.6 103.7 -1.8 -.9 -.1 1.0 -.9 12-5 | Home electronic equipment 2/........................| 68.6 68.4 68.3 -2.0 -.1 -.3 0 -.1 12-62 | Household glassware.................................| 169.8 164.7 163.9 -3.4 -.5 .1 -3.2 -.3 12-64 | Household flatware 2/...............................| 145.2 145.2 145.2 1.2 0 0 0 0 12-66 | Lawn and garden equip., ex. tractors 2/.............| 133.8 133.1 133.5 0 .3 -.5 -.1 .3 14-11-01 | Passenger cars......................................| 134.3 130.4 129.7 -1.8 -.5 -2.1 3.5 -.6 15-11 | Toys, games, and children's vehicles 2/.............| 124.9 125.2 125.2 .5 0 0 .5 0 15-12 | Sporting and athletic goods 2/......................| 125.3 124.7 124.3 -1.9 -.3 3.1 -.2 -.3 15-2 | Tobacco products 2/.................................| 467.0 466.6 467.1 4.3 .1 0 -.2 .1 15-5 | Mobile homes 2/.....................................| 167.1 166.5 166.5 .5 0 -.2 0 0 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 130.1 131.7 133.4 2.5 1.3 -.1 1.2 1.3 15-94-04 | Costume jewelry and novelties 2/....................| 144.4 144.4 144.4 .3 0 -.1 0 0 | | | CAPITAL EQUIPMENT.....................................| 139.9 139.6 139.1 -.5 -.4 -.4 .7 -.4 | | 11-1 | Agricultural machinery and equipment 2/.............| 159.2 158.3 158.5 .4 .1 0 .1 .1 11-2 | Construction machinery and equipment................| 151.5 152.9 153.0 2.5 .1 .3 .5 -.1 11-37 | Metal cutting machine tools 2/......................| 151.2 150.1 150.2 -2.3 .1 -.2 -.3 .1 11-38 | Metal forming machine tools 2/......................| 167.3 167.3 167.3 .5 0 0 0 0 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 140.5 140.0 140.5 -.2 .4 0 -.4 .4 11-41 | Pumps, compressors, and equipment...................| 161.4 162.2 162.0 1.1 -.1 .3 -.2 0 11-44 | Industrial material handling equipment 2/...........| 137.0 137.5 137.6 .2 .1 .4 0 .1 11-51 | Electronic computers (Dec. 1998=100) 2/.............| 39.8 38.1 35.7 -22.6 -6.3 -2.0 -.8 -6.3 11-62 | Textile machinery 2/................................| 157.0 157.3 157.3 -.1 0 -.1 .2 0 11-64 | Paper industries machinery (June 1982=100)..........| 169.6 169.7 170.2 1.5 .3 .1 -.2 .3 11-65 | Printing trades machinery 2/........................| 144.1 144.3 142.5 -.4 -1.2 .1 0 -1.2 11-74 | Transformers and power regulators 2/................| 131.4 132.0 132.2 .2 .2 .9 -.2 .2 11-76 | Communication & related equip. (Dec. 1985=100) 2/...| 106.7 106.2 106.7 -1.8 .5 -.5 .2 .5 11-79-05 | X-ray and electromedical equipment 2/...............| 100.9 100.2 99.1 -1.4 -1.1 .1 -.6 -1.1 11-91 | Oil field and gas field machinery ..................| 136.0 136.8 136.8 1.0 0 0 .2 -.1 11-92 | Mining machinery and equipment 2/...................| 152.8 154.6 154.8 2.5 .1 1.5 .1 .1 11-93 | Office and store machines and equipment 2/..........| 112.3 112.0 111.8 -1.8 -.2 0 -.5 -.2 12-2 | Commercial furniture 2/.............................| 161.8 161.4 162.1 1.1 .4 -.2 .4 .4 14-11-05 | Light motor trucks..................................| 155.0 153.8 148.6 -4.1 -3.4 -2.2 4.1 -3.9 14-11-06 | Heavy motor trucks 2/...............................| 152.9 156.5 155.9 3.9 -.4 .3 0 -.4 14-14 | Truck trailers 2/...................................| 138.2 138.3 138.6 .4 .2 .2 0 .2 14-21-02 | Civilian aircraft (Dec. 1985=100)...................| 173.2 174.2 174.6 2.9 .2 .1 .2 .2 14-31 | Ships (Dec. 1985=100) 2/............................| 151.3 150.9 155.1 3.9 2.8 -.1 -.3 2.8 14-4 | Railroad equipment 2/...............................| 134.5 134.8 135.5 .7 .5 0 .1 .5 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 129.7 131.2 133.6 6.7 1.8 -.2 1.3 2.1 | | | INTERMEDIATE FOODS AND FEEDS..........................| 117.4 120.3 121.2 6.7 .7 1.2 1.3 .7 | | 02-12-03 | Flour 2/............................................| 126.0 122.8 125.1 11.4 1.9 -2.0 1.7 1.9 02-53 | Refined sugar and byproducts 2/.....................| 119.1 120.9 122.5 6.1 1.3 1.0 .2 1.3 02-54 | Confectionery materials 2/..........................| 124.1 124.1 127.8 12.6 3.0 1.6 -.4 3.0 02-72 | Crude vegetable oils 2/.............................| 100.4 117.8 112.8 60.9 -4.2 3.4 3.2 -4.2 02-9 | Prepared animal feeds 2/............................| 108.5 108.1 108.9 7.1 .7 0 .7 .7 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 130.4 131.8 134.3 6.7 1.9 -.3 1.3 2.1 | | 03-1 | Synthetic fibers 2/.................................| 106.3 106.1 106.7 .7 .6 -.5 -.2 .6 03-2 | Processed yarns and threads 2/......................| 102.5 101.9 102.4 .2 .5 .1 -.7 .5 03-3 | Gray fabrics 2/.....................................| 111.9 111.0 110.5 -1.8 -.5 -.6 -.8 -.5 03-4 | Finished fabrics....................................| 121.3 121.4 121.3 .7 -.1 -.4 .7 -.1 03-83-03 | Industrial textile products 2/......................| 130.8 131.6 131.5 -1.2 -.1 -.7 -.8 -.1 04-2 | Leather 2/..........................................| 206.4 209.1 211.3 8.5 1.1 -.7 .3 1.1 05-32 | Liquefied petroleum gas 2/..........................| 129.8 147.9 172.7 128.1 16.8 7.0 13.9 16.8 ____________________________________________________________________________________________________________________________________ See footnotes at end of table. Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing - Continued (1982=100 unless otherwise indicated) ____________________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | | Unadjusted index |change to |percent change from: Commodity | | |Feb. 2003 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Oct. |Jan. |Feb. | Feb. | Jan. |Nov. to|Dec. to|Jan. to | |2002 1/|2003 1/|2003 1/| 2002 | 2003 | Dec. | Jan. | Feb. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 136.6 135.0 135.3 1.1 0.2 0.3 0.8 0.4 05-43 | Industrial electric power...........................| 140.0 139.7 140.2 3.5 .4 -.3 .1 .5 05-52 | Commercial natural gas (Dec. 1990=100)..............| 136.2 157.9 163.3 23.2 3.4 0 4.3 5.1 05-53 | Industrial natural gas (Dec. 1990=100)..............| 137.5 165.4 170.9 27.9 3.3 -1.0 7.3 6.1 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 110.7 145.2 176.0 96.0 21.2 -.1 4.3 26.4 05-72-03 | Jet fuels...........................................| 87.1 97.0 105.2 79.8 8.5 .6 25.9 10.4 05-73-03 | No. 2 Diesel fuel...................................| 98.7 98.8 124.2 107.0 25.7 7.5 17.6 25.2 05-74 | Residual fuel 2/....................................| 92.5 86.0 108.3 88.0 25.9 -21.7 16.8 25.9 06-1 | Industrial chemicals 2/.............................| 132.6 138.0 146.9 22.5 6.4 -1.8 4.2 6.4 06-21 | Prepared paint......................................| 167.2 167.1 169.0 1.9 1.1 .1 -.8 .9 06-22 | Paint materials 2/..................................| 171.4 172.4 172.8 13.7 .2 .1 -.2 .2 06-31 | Medicinal and botanical chemicals 2/................| 132.9 132.9 133.1 .2 .2 -.5 .4 .2 06-4 | Fats and oils, inedible.............................| 95.4 125.3 115.5 54.8 -7.8 8.5 11.4 -.4 06-51 | Mixed fertilizers...................................| 114.2 114.2 114.1 .4 -.1 -.1 -.3 -.3 06-52-01 | Nitrogenates........................................| 107.6 121.5 131.6 26.4 8.3 .4 2.3 6.0 06-52-02 | Phosphates 2/.......................................| 101.2 101.9 102.3 2.4 .4 -.1 .7 .4 06-53 | Other agricultural chemicals 2/.....................| 147.4 150.6 148.2 .2 -1.6 2.0 .2 -1.6 06-6 | Plastic resins and materials........................| 138.2 138.1 143.2 18.1 3.7 .5 2.1 3.5 07-11-02 | Synthetic rubber 2/.................................| 122.2 123.9 123.3 4.7 -.5 -1.6 2.1 -.5 07-21 | Plastic construction products ......................| 138.6 136.0 137.2 3.9 .9 .3 2.6 .1 07-22 | Unsupported plastic film, sheet, & other shapes 2/..| 138.1 137.4 139.6 4.4 1.6 -.1 .4 1.6 07-26 | Plastic parts and components for manufacturing 2/...| 116.5 116.1 116.0 -.5 -.1 0 -.4 -.1 08-11 | Softwood lumber.....................................| 166.1 165.3 168.4 -2.4 1.9 -.5 -1.9 -.1 08-12 | Hardwood lumber ....................................| 179.6 181.9 183.0 3.3 .6 .6 .5 .7 08-2 | Millwork............................................| 180.2 179.5 180.0 .3 .3 .1 .1 .2 08-3 | Plywood 2/..........................................| 149.3 145.9 147.2 -2.8 .9 -.5 -.3 .9 09-11 | Woodpulp 2/.........................................| 119.6 116.2 116.2 2.1 0 -1.4 -1.8 0 09-13 | Paper 2/............................................| 146.0 145.6 145.1 .3 -.3 -.1 -.4 -.3 09-14 | Paperboard 2/.......................................| 167.1 166.7 166.8 1.7 .1 -.4 -.1 .1 09-15-03 | Paper boxes and containers 2/.......................| 174.4 174.1 174.1 .8 0 -.2 -.2 0 09-2 | Building paper and board 2/.........................| 129.8 129.1 137.1 8.2 6.2 -.7 .4 6.2 09-37 | Commercial printing (June 1982=100) 2/..............| 157.0 157.4 157.9 .6 .3 .1 -.1 .3 10-15 | Foundry and forge shop products.....................| 137.1 136.8 137.1 .2 .2 0 -.2 .1 10-17 | Steel mill products.................................| 110.4 109.1 109.8 11.7 .6 -.1 .3 1.1 10-22 | Primary nonferrous metals 2/........................| 96.9 103.0 106.6 5.6 3.5 1.0 .2 3.5 10-25-01 | Aluminum mill shapes 2/.............................| 143.1 142.8 143.1 -1.4 .2 .1 -.5 .2 10-25-02 | Copper and brass mill shapes 2/.....................| 143.8 148.3 151.7 1.2 2.3 .3 .8 2.3 10-26 | Nonferrous wire and cable 2/........................| 132.6 132.3 131.6 -3.7 -.5 -.3 -.6 -.5 10-3 | Metal containers 2/.................................| 108.2 109.5 109.6 1.1 .1 -.1 1.0 .1 10-4 | Hardware 2/.........................................| 155.7 156.2 156.1 .1 -.1 .1 .3 -.1 10-5 | Plumbing fixtures and brass fittings................| 182.4 182.0 183.1 .7 .6 .3 -.1 -.1 10-6 | Heating equipment 2/................................| 158.3 161.7 163.5 3.7 1.1 .2 2.2 1.1 10-7 | Fabricated structural metal products 2/.............| 145.8 145.7 145.5 1.2 -.1 0 .2 -.1 10-88 | Fabricated ferrous wire products (June 1982=100) 2/.| 130.0 129.5 129.6 .3 .1 -.5 -.1 .1 10-89 | Other misc. metal products 2/.......................| 126.5 127.1 127.0 .2 -.1 -.1 -.5 -.1 11-45 | Mechanical power transmission equipment.............| 169.8 171.8 171.2 1.2 -.3 -.1 .6 -.4 11-48 | Air conditioning and refrigeration equipment 2/.....| 137.1 137.4 137.4 .6 0 0 .2 0 11-49-02 | Metal valves, ex.fluid power (Dec. 1982=100)........| 168.0 168.4 168.2 1.1 -.1 0 .1 0 11-49-05 | Ball and roller bearings............................| 170.3 171.5 171.2 .8 -.2 0 .5 -.2 11-71 | Wiring devices 2/...................................| 153.7 153.1 153.3 .3 .1 -.5 .3 .1 11-73 | Motors, generators, motor generator sets............| 146.4 147.7 147.6 .6 -.1 -.2 -.1 -.1 11-75 | Switchgear, switchboard, etc., equipment 2/.........| 158.2 158.2 159.4 .6 .8 .1 -.4 .8 11-78 | Electronic components and accessories 2/............| 92.0 92.1 91.6 -1.5 -.5 -.3 0 -.5 11-94 | Internal combustion engines.........................| 145.4 143.8 144.0 -.1 .1 .3 -1.5 .3 11-95 | Machine shop products 2/............................| 140.2 140.4 140.4 .4 0 0 .1 0 13-11 | Flat glass 2/.......................................| 111.1 111.5 110.9 -.2 -.5 .8 -.3 -.5 13-22 | Cement..............................................| 154.1 152.8 153.3 2.3 .3 .6 -.1 .5 13-3 | Concrete products...................................| 152.7 153.4 153.6 1.0 .1 .3 .3 .2 13-6 | Asphalt felts and coatings..........................| 111.5 109.5 110.3 .3 .7 -.3 -.4 1.1 13-7 | Gypsum products 2/..................................| 173.4 168.7 170.8 2.6 1.2 -.2 -1.0 1.2 13-8 | Glass containers 2/.................................| 136.4 138.5 138.4 2.6 -.1 0 1.2 -.1 14-12 | Motor vehicle parts 2/..............................| 112.2 111.3 111.5 -1.7 .2 -.1 -.9 .2 14-23 | Aircraft engines & engine parts (Dec. 1985=100).....| 145.5 146.5 152.7 4.4 4.2 .1 -.1 4.1 14-25 | Aircraft parts & aux.equip.,nec (June 1985=100).....| 151.0 149.1 148.9 -1.6 -.1 .2 -1.1 .1 15-42 | Photographic supplies 2/............................| 118.2 120.2 118.7 -8.6 -1.2 0 .9 -1.2 15-6 | Medical/surgical/personal aid devices 2/............| 151.6 153.9 154.0 2.4 .1 .2 1.5 .1 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 112.6 127.9 134.1 36.8 4.8 2.2 6.9 4.8 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 99.9 105.7 106.3 4.2 .6 1.5 5.4 .7 | | 01-21 | Wheat 2/............................................| 124.6 97.5 102.7 21.4 5.3 -4.3 -8.3 5.3 01-22-02-05| Corn................................................| 99.5 91.5 96.8 22.2 5.8 -3.0 -2.4 8.1 01-31 | Slaughter cattle 2/.................................| 97.0 114.1 113.7 4.9 -.4 3.4 9.1 -.4 01-32 | Slaughter hogs......................................| 53.0 53.4 56.6 -9.1 6.0 3.0 1.7 2.2 01-41-02 | Slaughter broilers/fryers...........................| 116.1 147.9 144.3 12.8 -2.4 5.7 21.8 1.4 01-42 | Slaughter turkeys...................................| 104.4 99.5 100.0 4.2 .5 8.1 6.9 1.5 01-6 | Fluid milk..........................................| 90.5 88.9 85.9 -12.3 -3.4 1.7 3.7 -1.7 01-83-01-31| Soybeans 2/.........................................| 92.6 93.3 97.4 32.0 4.4 -.5 -2.2 4.4 02-52-01-01| Cane sugar,raw 2/...................................| 115.8 114.7 115.7 5.3 .9 -1.2 -2.3 .9 | | | CRUDE NONFOOD MATERIALS..............................| 119.0 141.3 151.9 66.2 7.5 2.6 7.9 7.4 | | 01-51-01-01| Raw cotton 2/.......................................| 65.1 80.6 85.8 53.5 6.5 5.3 4.0 6.5 01-92-01-01| Leaf tobacco 2/.....................................| 109.0 115.8 111.1 .8 -4.1 2.3 -.5 -4.1 04-19 | Hides and skins (June 2001=100) 2/..................| 88.2 84.3 88.1 23.7 4.5 -.5 -.8 4.5 05-1 | Coal 2/.............................................| 98.6 99.8 97.0 -3.5 -2.8 -1.6 1.9 -2.8 05-31 | Natural gas 2/......................................| 134.6 196.9 219.6 178.3 11.5 3.3 8.2 11.5 05-61 | Crude petroleum 2/..................................| 76.7 86.0 94.6 76.8 10.0 6.6 20.4 10.0 08-5 | Logs, timber, etc...................................| 181.1 179.1 181.0 1.9 1.1 -.6 -1.3 .4 09-12 | Wastepaper 2/.......................................| 190.6 182.2 182.7 31.7 .3 -.7 -3.4 .3 10-11 | Iron ore 2/.........................................| 95.0 95.6 95.3 -.1 -.3 0 .6 -.3 10-12 | Iron and steel scrap................................| 151.5 152.8 167.0 36.8 9.3 -1.2 .9 11.7 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 68.2 72.4 74.3 12.9 2.6 1.9 5.2 2.6 10-23-01 | Copper base scrap 2/................................| 109.4 117.5 119.1 10.4 1.4 2.3 .6 1.4 10-23-02 | Aluminum base scrap.................................| 155.9 161.8 168.4 10.8 4.1 -.1 -.2 1.8 13-21 | Construction sand, gravel, and crushed stone........| 173.5 174.8 175.7 2.2 .5 .7 -.3 .3 ____________________________________________________________________________________________________________________________________ 1/ The indexes for October 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 | Oct. 2002 | Jan. 2003 | Feb. 2003 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 394.8 | 396.4 | 399.9 | | All commodities................................| 133.2 | 135.5 | 137.8 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 124.1 | 127.5 | 128.2 | 01 | Farm products................................| 99.1 | 104.1 | 104.2 | 02 | Processed foods and feeds....................| 136.4 | 139.0 | 140.1 | | | | | | | Industrial commodities.........................| 134.8 | 136.9 | 139.5 | 03 | Textile products and apparel.................| 119.7 | 119.6 | 119.3 | 04 | Hides, skins, leather, and related products..| 160.9 | 160.5 | 162.4 | 05 | Fuels and related products and power.........| 99.7 | 106.7 | 115.2 | 06 | Chemicals and allied products 2/.............| 155.3 | 158.2 | 162.1 | 07 | Rubber and plastic products..................| 127.8 | 127.9 | 128.4 | 08 | Lumber and wood products.....................| 172.3 | 171.9 | 173.2 | 09 | Pulp, paper, and allied products.............| 187.2 | 188.2 | 188.7 | 10 | Metals and metal products....................| 127.0 | 127.6 | 128.4 | 11 | Machinery and equipment......................| 122.5 | 122.5 | 122.3 | 12 | Furniture and household durables.............| 133.9 | 133.8 | 133.7 | 13 | Nonmetallic mineral products.................| 146.7 | 146.8 | 147.5 | 14 | Transportation equipment.....................| 146.4 | 145.3 | 144.7 | 15 | Miscellaneous products.......................| 183.2 | 184.0 | 183.8 | | | | | | | Industrial commodities less fuels and related | | | | | products and power...........................| 143.9 | 144.3 | 144.8 | | | | | | | | | | | | OTHER COMMODITY GROUPINGS | | | | | | | | | 01-1 | Fruits and melons, fresh and dry vegetables, | | | | | and tree nuts................................| 111.3 | 108.4 | 103.0 | 01-2 | Grains.........................................| 105.8 | 93.8 | 98.6 | 01-3 | Slaughter livestock............................| 85.8 | 98.4 | 98.9 | 01-4 | Slaughter poultry..............................| 112.3 | 136.3 | 133.6 | 01-5 | Plant and animal fibers........................| 66.1 | 81.6 | 87.1 | 01-7 | Chicken eggs...................................| 87.9 | 106.0 | 106.1 | 01-8 | Hay, hayseeds, and oilseeds....................| 118.9 | 118.6 | 122.1 | 01-83 | Oilseeds.......................................| 103.3 | 104.1 | 108.3 | 01-9 | Other farm products............................| 162.6 | 172.7 | 165.7 | 02-1 | Cereal and bakery products.....................| 166.9 | 168.9 | 170.3 | 02-2 | Meats, poultry, and fish.......................| 116.8 | 121.6 | 124.5 | 02-22 | Processed poultry..............................| 108.7 | 108.9 | 112.3 | 02-5 | Sugar and confectionery........................| 143.6 | 146.4 | 149.0 | 02-6 | Beverages and beverage materials...............| 147.8 | 149.5 | 149.5 | 02-63 | Packaged beverage materials....................| 123.0 | 123.7 | 124.8 | 02-7 | Fats and oils..................................| 128.4 | 150.2 | 148.1 | 03-81 | Apparel........................................| 125.5 | 125.2 | 124.6 | 04-4 | Other leather and related products.............| 148.0 | 147.8 | 148.1 | 05-3 | Gas fuels......................................| 131.2 | 182.4 | 205.1 | 05-4 | Electric power.................................| 136.6 | 134.6 | 135.1 | 05-7 | Refined petroleum products.....................| 95.6 | 92.9 | 110.8 | 06-3 | Drugs and pharmaceuticals......................| 268.1 | 271.5 | 271.2 | 06-5 | Agricultural chemicals and products............| 124.1 | 128.3 | 129.3 | 06-7 | Other chemicals and allied products............| 139.9 | 140.2 | 140.2 | 07-1 | Rubber and rubber products.....................| 117.6 | 118.7 | 118.8 | 07-11 | Rubber, except natural rubber..................| 121.5 | 123.2 | 122.6 | 07-13 | Miscellaneous rubber products..................| 141.0 | 141.1 | 141.0 | 07-2 | Plastic products...............................| 135.9 | 135.5 | 136.2 | 08-1 | Lumber.........................................| 168.1 | 168.4 | 170.7 | 09-1 | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 157.0 | 156.8 | 156.9 | 09-15 | Converted paper and paperboard products........| 164.5 | 165.2 | 165.6 | 10-1 | Iron and steel.................................| 118.9 | 118.2 | 120.1 | 10-2 | Nonferrous metals..............................| 118.8 | 121.3 | 122.6 | 10-25 | Nonferrous mill shapes.........................| 135.8 | 136.5 | 137.1 | 11-3 | Metalworking machinery and equipment...........| 150.2 | 150.1 | 150.4 | 11-4 | General purpose machinery and equipment........| 154.5 | 155.2 | 155.3 | 11-6 | Special industry machinery.....................| 165.6 | 165.8 | 166.0 | 11-7 | Electrical machinery and equipment.............| 115.8 | 115.6 | 115.5 | 11-9 | Miscellaneous machinery and equipment..........| 136.8 | 136.6 | 136.8 | 12-6 | Other household durable goods..................| 158.6 | 157.8 | 158.2 | 13-2 | Concrete ingredients...........................| 163.4 | 163.7 | 164.5 | 14-1 | Motor vehicles and equipment...................| 132.0 | 130.6 | 129.1 | 15-1 | Toys, sporting goods, small arms, etc..........| 133.3 | 133.2 | 132.8 | 15-4 | Photographic equipment and supplies............| 105.0 | 106.5 | 105.1 | 15-9 | Other miscellaneous products...................| 140.5 | 141.2 | 140.9 | __________________________________________________________|___________|___________|___________| 1/ Data for October 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_Feb._2003_from:__ code | |base | | | | | | | |Oct. |Jan. |Feb. | Feb. | Jan. | | |2002 2/|2003 2/|2003 2/| 2002 | 2003 __________________|______________________________________________|_____|_______|_______|_______|________|___________ | | | |Total mining industries...................... |12/84| 104.5 126.2 137.4 76.2 8.9 10 | Metal mining................................ |12/84| 72.8 76.7 78.4 8.4 2.2 12 | Coal mining................................. |12/85| 93.4 93.5 92.7 -1.9 -.9 13 | Oil and gas extraction...................... |12/85| 119.5 153.0 170.4 118.7 11.4 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 143.7 145.0 145.6 1.5 .4 | | | |Total manufacturing industries............... |12/84| 135.6 135.9 137.8 4.4 1.4 20 | Food and kindred products................... |12/84| 131.6 133.8 134.8 2.1 .7 21 | Tobacco manufactures........................ |12/84| 408.6 408.5 408.7 4.3 0 22 | Textile mill products....................... |12/84| 115.6 115.9 115.2 -.5 -.6 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 125.1 125.2 125.2 .1 0 24 | Lumber and wood products, except furniture.. |12/84| 154.6 154.4 155.7 .6 .8 25 | Furniture and fixtures...................... |12/84| 147.2 146.9 147.1 .9 .1 26 | Paper and allied products................... |12/84| 144.6 145.0 145.2 1.4 .1 27 | Printing, publishing, and allied industries. |12/84| 193.6 195.7 196.3 2.2 .3 28 | Chemicals and allied products............... |12/84| 159.6 160.8 162.0 5.0 .7 29 | Petroleum refining and related products..... |12/84| 117.5 116.3 138.2 73.8 18.8 30 | Rubber and miscellaneous plastic products... |12/84| 126.3 126.4 126.9 2.0 .4 31 | Leather and leather products................ |12/84| 141.8 142.3 142.8 2.1 .4 32 | Stone, clay, glass, and concrete products... |12/84| 137.4 137.6 137.8 1.0 .1 33 | Primary metal industries.................... |12/84| 118.0 117.5 117.9 3.7 .3 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 132.0 132.4 132.5 1.0 .1 35 | Machinery, except electrical................ |12/84| 116.8 116.6 116.3 -1.1 -.3 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 105.1 104.3 104.0 -2.4 -.3 37 | Transportation equipment.................... |12/84| 139.4 138.5 137.5 -.7 -.7 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 128.8 129.8 130.2 1.2 .3 39 | Miscellaneous manufacturing industries...... |12/85| 133.6 133.9 133.8 .3 -.1 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 106.8 107.2 107.7 1.3 0.5 42 | Motor freight transportation and warehousing |06/93| 125.5 126.5 126.8 2.8 .2 43 | United States Postal Service................ |06/89| 155.0 155.0 155.0 6.6 0 44 | Water transportation........................ |12/92| 141.0 142.4 140.8 9.2 -1.1 45 | Transportation by air....................... |12/92| 160.1 160.6 159.8 1.7 -.5 46 | Pipelines, except natural gas............... |12/86| 112.7 111.2 111.2 -.1 0 48 | Communications.............................. |06/01| 97.5 97.1 96.9 .1 -.2 54 | Food stores................................. |12/99| 113.3 116.0 118.0 4.1 1.7 55 | Automotive dealers and gasoline service | | | stations................................... |12/01| 84.3 85.8 84.6 -15.0 -1.4 59 | Miscellaneous retail........................ |06/00| 104.3 105.7 106.1 1.5 .4 80 | Health services............................. |12/94| 120.6 121.1 121.5 2.9 .3 81 | Legal services.............................. |12/96| 122.9 124.6 125.2 3.7 .5 ____________________________________________________________________________________________________________________ 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 October 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 | | | | | | | Sep. | Oct. | Nov. | Dec. | Jan. | Feb. | 2002 | 2002 | 2002 | 2002 | 2003 | 2003 _______________________________________________________|________|________|________|________|________|________ | Finished goods...................................| 139.0 140.1 139.6 139.4 141.6 143.0 Finished consumer goods........................| 139.6 141.0 140.4 140.3 143.0 145.2 Finished consumer foods......................| 138.2 138.8 139.3 139.9 142.1 142.9 Crude......................................| 118.7 122.2 120.2 111.5 120.3 117.0 Processed..................................| 139.8 140.2 140.9 142.3 143.9 145.1 Finished consumer goods, excluding foods.....| 139.8 141.5 140.5 140.2 143.0 145.7 Nondurable goods less foods................| 141.5 143.5 142.5 142.6 145.8 150.3 Durable goods..............................| 132.6 133.5 132.6 131.4 133.5 132.2 Capital equipment..............................| 139.0 139.3 138.9 138.4 139.4 138.9 Manufacturing industries.....................| 139.9 140.0 139.9 139.8 140.0 139.9 Nonmanufacturing industries..................| 138.6 138.9 138.5 137.7 139.1 138.4 | Intermediate materials, supplies, and components.| 128.9 129.8 129.8 129.5 131.2 133.9 Materials and components for manufacturing.....| 126.9 127.4 127.9 127.4 128.0 129.6 Materials for food manufacturing.............| 123.3 123.9 125.6 127.5 129.5 130.3 Materials for nondurable manufacturing.......| 131.5 133.0 133.5 131.7 133.6 138.2 Materials for durable manufacturing..........| 125.7 125.9 126.5 126.5 126.6 127.4 Components for manufacturing.................| 125.9 125.9 126.1 126.0 125.7 125.8 Materials and components for construction......| 152.0 151.8 151.5 151.5 151.9 152.4 Processed fuels and lubricants.................| 98.8 102.0 100.9 100.7 107.0 115.4 Manufacturing industries ....................| 101.4 103.0 103.7 102.4 107.4 113.7 Nonmanufacturing industries..................| 97.2 101.4 99.2 99.7 106.8 116.5 Containers.....................................| 152.5 153.3 153.8 153.4 153.6 153.9 Supplies.......................................| 139.6 139.5 139.7 139.7 140.0 140.6 Manufacturing industries.....................| 144.7 144.8 145.1 145.0 145.1 145.5 Nonmanufacturing industries..................| 137.1 137.0 137.2 137.1 137.5 138.1 Feeds......................................| 104.2 101.8 100.5 100.5 101.0 102.0 Other supplies.............................| 141.3 141.4 141.7 141.6 142.1 142.6 | Crude materials for further processing...........| 110.2 112.6 117.9 120.5 128.8 135.0 Foodstuffs and feedstuffs......................| 99.4 99.6 100.5 102.2 107.5 108.3 Nonfood materials..............................| 115.2 119.1 127.9 131.2 141.5 152.0 Nonfood materials except fuel 2/.............| 107.9 107.7 102.8 105.6 114.3 120.9 Manufacturing 2/...........................| 99.0 98.8 94.2 96.9 105.1 111.3 Construction...............................| 182.3 183.3 182.4 181.8 180.2 181.1 Crude fuel 3/................................| 115.4 126.0 157.1 160.9 172.8 188.8 Manufacturing industries...................| 111.5 121.3 150.0 153.4 164.6 179.1 Nonmanufacturing industries................| 117.9 128.7 160.6 164.5 176.7 193.1 | Special groupings | | Finished goods, excluding foods..................| 139.0 140.2 139.5 139.0 141.3 142.8 Intermediate materials less foods and feeds......| 129.6 130.5 130.5 130.1 131.8 134.6 Intermediate foods and feeds.....................| 117.6 117.2 117.9 119.3 120.8 121.6 Crude materials less agricultural products 2/....| 116.4 120.5 129.4 132.7 143.5 154.3 | Finished energy goods............................| 90.9 94.0 92.2 92.4 96.8 104.0 Finished goods less energy.......................| 146.9 147.4 147.2 146.9 148.5 148.1 Finished consumer goods less energy..............| 150.2 150.8 150.8 150.6 152.3 152.1 | Finished goods less foods and energy.............| 150.2 150.7 150.4 149.7 151.0 150.3 Finished consumer goods less foods and energy....| 157.8 158.4 158.1 157.5 158.9 158.1 Consumer nondurable goods less foods and energy..| 178.3 178.6 178.8 178.8 179.5 179.3 | Intermediate energy goods........................| 98.6 102.0 100.8 99.8 105.9 114.9 Intermediate materials less energy...............| 135.3 135.5 135.8 135.7 136.2 137.2 Intermediate materials less foods and energy.....| 136.4 136.7 137.0 136.8 137.2 138.2 | Crude energy materials 2/........................| 105.9 111.3 123.2 127.6 141.6 154.8 Crude materials less energy......................| 109.5 109.8 110.7 112.0 116.4 118.0 Crude nonfood materials less energy 3/...........| 139.2 139.6 140.9 141.6 143.0 146.9 _____________________________________________________________________________________________________________ 1/ All seasonally adjusted indexes are subject to change up to 5 years after original publication due to the recalculation of seasonal factors each January. The indexes for October 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 Investment Advice....................................... 6282 January 2003 Life Insurance Carriers................................. 6311 January 1999 Property and Casualty Insurance......................... 6331 July 1998 Insurance Agencies and Brokerages....................... 6412 January 2003 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.