FOR DATA ONLY: (202) 606-7828 USDL 97-194 FOR TECHNICAL INFORMATION: TRANSMISSION OF MATERIAL IN (202) 606-7705 THIS RELEASE IS EMBARGOED MEDIA CONTACT: (202) 606-5902 UNTIL 8:30 A.M. (E.D.T), FRIDAY, http://stats.bls.gov/ppihome.htm JUNE 13, 1997 Producer Price Indexes - May 1997 The Producer Price Index for Finished Goods fell 0.3 percent in May, seasonally adjusted, the Bureau of Labor Statistics of the U. S. Department of Labor reported today. This was the fifth consecutive monthly decline. The index for finished goods decreased 0.6 percent in April and 0.1 percent in March. Prices received by domestic producers of intermediate goods moved down 0.2 percent in May after declining 0.3 percent in the previous month. The Crude Goods Price Index increased 1.3 percent in May following a 0.9-percent decrease in April. (See table A.) Prices for finished goods other than foods and energy fell 0.3 percent after dropping 0.1 percent in April. The index for finished energy goods fell less than in April. Prices for finished consumer foods turned up after declining in the previous month. Table A. Monthly and annual percent changes in selected stage-of- processing price indexes, seasonally adjusted Finish ed goods Change in Except finished Inter- goods foods from 12 mediateCrude and months Month Total Foods Energy energy ago goods goods (unadj.) 1996 May 0.2 0.2 -0.6 0.2 2.3 0.4 1.1 June 0.3 1.4 -0.8 0.1 2.7 -0.3 -2.4 July 0 0.1 0.4 0 2.6 -0.2 2.2 Aug. 0.3 0.7 0.6 0.1 3.0 0.2 0.6 Sept. 0.3 0.4 0.7 0.1 3.0 0.4 -2.6 Oct. 0.4 0.8 1.7 -0.1 3.1 -0.2 -0.7 Nov. 0.2 0 0.9 0 3.0 -0.2 2.7 Dec. 0.5 -0.2 3.3 0.1 2.8 0.5 6.2 1997 Jan. -0.3 -1.0 r-0.2 r0 2.5 0.2 r3.8 Feb. -0.4 r-0.4 r-1.0 r-0.2 2.2 r0 r-6.7 Mar. -0.1 0.9 -3.4 0.4 1.6 -0.6 -6.9 Apr. -0.6 -0.4 -2.6 -0.1 0.8 -0.3 -0.9 May -0.3 0.4 -2.1 -0.3 0.3 -0.2 1.3 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for January 1997 have been revised to reflect the availability of late reports and corrections by respondents. -2- Before seasonal adjustment, the Producer Price Index for Finished Goods edged down 0.1 percent to 131.5 (1982=100). From May 1996 to May 1997, the Finished Goods Price Index rose 0.3 percent. Over the same period, prices for finished consumer foods increased 2.7 percent, the index for finished energy goods declined 3.1 percent, and prices for finished goods other than foods and energy were up 0.1 percent. Prices received by domestic producers of intermediate goods decreased 0.7 percent for the 12 months ended in May, and the index for crude goods fell 4.6 percent during this same period. Finished Goods The Producer Price Index for finished consumer foods increased 0.4 percent in May following a 0.4-percent decline in April. Prices for finfish and shellfish rose 7.9 percent in May after falling 5.0 percent during the prior month. Prices for fresh and dry vegetables, fresh fruits and melons, and beef and veal also turned up after falling in the previous month. The index for eggs for fresh use declined less than in April. By contrast, the index for pork increased 3.2 percent following a gain of 5.6 percent in April. Prices for dairy products, processed young chickens, and for processed fruits and vegetables fell more than in the prior month. The index for soft drinks turned down after increasing in April. Table B. Monthly and annual percent changes in selected price indexes for intermediate goods and crude goods, seasonally adjusted Interm Crude ediate goods goods Change in Change in intermedi crude ate Exclud goods Excludi goods ing from ng foods 12 months Energy foods from 12 and ago and months ago Month Foods Energy energy (unadj.) Foods (unadj energy (unadj.) .) 1996 May 3.8 0.6 0.1 0.7 5.8 -4.6 0.7 12.7 June 0.7 -2.4 0 0.3 0.7 -6.8 -1.8 9.6 July 0.4 0 -0.3 -0.1 1.7 5.4 -1.6 13.2 Aug. 0.3 0.8 0.1 0.1 -0.6 2.4 0.5 15.4 Sept. 0.8 1.1 0.2 0.6 -3.5 -3.3 0.5 10.1 Oct. -2.0 1.3 -0.2 0.5 -3.1 2.1 -0.1 9.4 Nov. -3.2 -0.2 0.1 0.5 -2.5 11.1 -0.2 10.6 Dec. -0.6 2.9 0.1 0.7 -2.7 19.3 0 14.7 1997 Jan. r-0.5 r0.6 0.1 r0.9 r-1.2 r8.9 r2.3 r16.1 Feb. r0.5 r-0.5 r0.1 1.2 r-1.6 r-14.0 r0.7 6.3 Mar. 1.4 -4.6 0 0.6 2.1 -19.2 0.6 0.3 Apr. 0.4 -2.0 0 -0.1 3.3 -5.2 -2.3 -4.8 May 0.5 -1.9 0 -0.7 -0.3 3.4 1.2 -4.6 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for January 1997 have been revised to reflect the availability of late reports and corrections by respondents. -3- The index for capital equipment declined 0.2 percent in May following a 0.4-percent decrease in April. The indexes for light motor trucks, heavy motor trucks, and electronic computers fell in May by more than in the previous month. Prices for x-ray equipment were unchanged after rising in April. By contrast, prices for civilian aircraft increased 0.4 percent following a 2.0-percent decline a month earlier. The indexes for railroad equipment, tools and dies, and textile machinery also turned up after falling a month ago. Prices for commercial furniture rose 0.2 percent after increasing 0.5 percent in the prior month. The index for finished consumer goods excluding foods and energy moved down 0.3 percent in May after showing no change in April. Prices for passenger cars decreased 1.6 percent after declining 0.5 percent in the prior month. The index for sanitary papers also fell more than a month ago. Prices for periodical circulation, soaps and detergents, alcoholic beverages, newspaper circulation, tires and tubes, and mobile homes turned down following increases in the prior month. The index for tobacco products rose less than in April. By contrast, prices for prescription drugs rose 0.4 percent following a 0.7 percent decline a month ago. The indexes for women's apparel, men's and boys' apparel, household appliances, and floor coverings also turned up after decreasing in April. Prices for sporting goods rose less than in the prior month. The index for finished energy goods declined 2.1 percent in May following a 2.6-percent decline in April. Prices for residential natural gas decreased 1.3 percent in May after falling 3.3 percent in the prior month. The index for finished lubricants turned up 1.8 percent after decreasing 3.7 percent in the previous month. Prices for residential electric power showed no change after declining in April. Home heating oil prices rose 2.2 percent in May following a 1.4-percent advance in the prior month. Gasoline prices, however, fell 7.1 percent after declining 4.1 percent a month ago. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components declined 0.2 percent in May, seasonally adjusted, after declining 0.3 percent in April. Price decreases for intermediate energy goods outweighed increases for construction materials, nondurable manufacturing materials, intermediate foods and feeds, and durable manufacturing materials. Excluding food and energy, the intermediate materials index showed no change for the third consecutive month. (See table B.) The index for intermediate energy materials declined 1.9 percent in May following a 2.0-percent decline in April. Price decreases for gasoline, liquefied petroleum gas, commercial and industrial electric power, jet fuels, and No. 2 diesel fuel more than offset price increases for residual fuel, natural gas to electric utilities, and commercial natural gas. The index for durable manufacturing materials advanced 0.2 percent in May following a 0.1-percent decline in April. Prices for copper cathode and refined copper increased 5.1 percent after a 6.7-percent decrease a month ago. The indexes for copper and brass mill shapes, refined gold, and refined silver bar also turned up after falling a month earlier. Prices for plywood fell less than in the previous month. The index for hot rolled sheet and strip was unchanged after turning down last month. By contrast, the index for hot rolled bars, plates, and structural shapes declined 1.1 percent following a 0.6-percent advance in April. Prices for aluminum mill shapes, cement, and cold finished bars also fell after rising a month ago. The index for intermediate foods and feeds advanced 0.5 percent in May following a 0.4- percent advance in April. Price increases for prepared animal feeds, pork, beef and veal, crude vegetable oils, and liquid milk products outweighed price decreases for dry milk products, fluid milk products, refined sugar, and for natural, processed, and imitation cheese. -4- The index for nondurable manufacturing materials advanced 0.2 percent in May following a 0.2-percent decline in April. Prices for paperboard increased 1.2 percent after a 2.7-percent decrease a month earlier. The indexes for inedible fats and oils, alkalies and chlorine, woodpulp, and paint materials also turned up after moving down in the previous month. Prices for primary basic organic chemicals fell less than in the prior month. By contrast, prices for paper advanced 0.6 percent following a 1.2- percent advance in April. The indexes for nitrogenates and leather fell after rising a month ago. Prices for medicinal and botanical chemicals rose less than in the prior month. The index for construction materials advanced 0.4 percent following a 0.3-percent gain in April. Price increases for fabricated structural metal products, softwood lumber, plastic construction products, gypsum products, millwork, nonferrous wire and cable, and wiring devices more than offset decreases for plywood, cement, and metal valves (except fluid power). Crude Goods The Producer Price Index for Crude Materials for Further Processing increased 1.3 percent, seasonally adjusted, following a 0.9-percent decline in April. The indexes for energy materials and basic industrial materials also turned up after falling last month. By contrast, the index for foodstuffs and feedstuffs turned down after rising a month earlier. (See table B.) The index for crude energy materials rose 3.4 percent following a 5.2- percent decline in April. Prices for natural gas increased 5.8 percent after declining 13.3 percent in the prior month. The index for crude petroleum also turned up after falling a month ago. By contrast, prices for coal turned down 6.4 percent after rising 5.2 percent in April. The index for crude foodstuffs and feedstuffs declined 0.3 percent following a 3.3-percent advance in April. Prices for slaughter broilers and fryers fell 10.3 percent after increasing 13.5 percent a month ago. The index for wheat also turned down after rising in the previous month. Prices for slaughter hogs and slaughter cattle increased less than a month ago. By contrast, the index for soybeans rose 5.1 percent after falling 3.5 percent in the prior month. Prices for unprocessed finfish, fresh fruits and melons, and fresh and dry vegetables also turned up after falling in April. The index for crude nonfood materials less energy increased 1.2 percent following a 2.3-percent decline in April. Prices for iron and steel scrap increased 2.7 percent after declining 3.2 percent a month ago. The indexes for nonferrous metal ores, copper ores, raw cotton, copper base scrap, and for softwood logs, bolts and timber also turned up after falling in the prior month. By contrast, the index for iron ore declined 4.5 percent after showing no change in April. Prices for phosphates also declined after showing no change in the previous month. The index for cattle hides turned down after rising a month ago. Net output price indexes for mining, manufacturing, and other industries Mining. The Producer Price Index for the net output of total domestic mining industries rose 2.3 percent in May, following a 4.7-percent decline in April. (Net output price indexes are not seasonally adjusted.) In May, prices for the oil and gas extraction industry group turned up 4.0 percent after falling 6.6 percent in the previous month. The index for the metal mining industry group also rose (0.3 percent) in May after decreasing (3.8 percent) in April. By contrast, prices for the coal mining industry group turned down 3.9 percent after increasing 3.4 percent in the prior month. The index for the nonmetallic minerals mining industry group rose 0.1 percent after increasing 0.2 percent in April. In May, the Producer Price Index for total mining industries stood at 81.2 (December 1984=100), 2.1 percent lower than a year earlier. -5- Manufacturing. As in April, the Producer Price Index for total domestic manufacturing industries decreased 0.1 percent. Price declines for the industry groups for leather and leather products (0.7 percent), transportation equipment (0.6 percent), and for electrical and electronic machinery (0.3 percent) offset price increases for food and kindred products (0.4 percent), lumber and wood products (0.4 percent), and tobacco manufactures (0.4 percent). In May, the index for the net output of the domestic manufacturing sector stood at 127.6 (December 1984=100), 0.2 percent above its level a year ago. Other. Among other industries in May, the index for freight transportation arrangement dropped 3.1 percent following an increase of 2.2 percent in April. Prices also turned down after rising a month earlier for nonscheduled air transportation, operators and lessors of nonresidential buildings, psychiatric hospitals, specialty hospitals (except psychiatric), for general warehousing and storage, for non-local trucking, and for line- haul operating railroads. The index for tugging and towing services increased 0.1 percent after rising 1.0 percent in the prior month. Prices also increased more slowly for local trucking without storage. The index for scheduled air transportation showed no change in May after rising 0.7 percent in April. Prices for offices and clinics of doctors of medicine, refrigerated warehousing and storage, and for engineering design, analysis, and consulting services also showed no change after increasing in the previous month. The index for hotels and motels fell 0.6 percent after declining 0.1 percent a month ago. The indexes for general medical and surgical hospitals and for medical laboratories both decreased 0.1 percent after showing no change in April. By contrast, prices for deep sea foreign transportation of freight turned up 3.9 percent following a decline of 3.2 percent a month ago. The indexes for scrap and waste materials, truck rental and leasing, passenger car rental, electric power and natural gas utilities, cable and other pay television services, home health care services, farm product warehousing and storage, and for accounting, auditing, and bookkeeping services also rose after falling in the prior month. Prices for freight transportation on the Great Lakes-St. Lawrence Seaway decreased 0.1 percent after dropping 2.9 percent in the previous month. The indexes for water transportation of freight (not elsewhere classified), travel agencies, and domestic deep sea transportation of freight also fell less than in April. Prices for marine cargo handling increased 1.7 percent after rising 0.1 percent in the prior month. The indexes for airports, flying fields, and airport services; radio broadcasting; and architectural design, analysis, and consulting services also increased more than a month ago. Prices for advertising agencies rose 0.4 percent after showing no change in the previous month. The indexes for local trucking with storage, building cleaning and maintenance services (not elsewhere classified), skilled and intermediate care facilities, refined petroleum pipelines, and legal services also increased after showing no change in April. Prices for employment agencies showed no change after falling 0.3 percent in the prior month. ***** Producer Price Index data for June 1997 will be released on Friday, July 11, at 8:30 a.m. (E.D.T.) ***** Information in this news release will be made available to sensory impaired individuals upon request. Voice phone: 202-606-7828; TDD phone: 202-606- 5897; TDD Message Referral phone: 1-800-326-2577. Table 1. Producer Price Indexes and percent changes by stage of processing (1982=100) ____________________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | Relative | Unadjusted index |change to |percent change from: Grouping |importance| | May 1997 from:| | |_______________________|_______________|_______________________________ | Dec. | | | | | | | | | Jan. |Apr. | May | May | Apr. |Feb. to|Mar. to |Apr. to | 1996 1/|1997 2/|1997 2/|1997 2/| 1996 | 1997 | Mar. | Apr. | May _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|____________ | Finished goods...................................| 100.000 132.6 131.6 131.5 0.3 -0.1 -0.1 -0.6 -0.3 Finished consumer goods........................| 76.423 131.0 129.9 129.8 .4 -.1 -.2 -.7 -.4 Finished consumer foods......................| 23.644 134.1 134.3 135.0 2.7 .5 .9 -.4 .4 Crude......................................| 1.639 130.3 120.5 123.1 4.9 2.2 4.9 -13.2 3.1 Processed..................................| 22.005 134.3 135.3 135.9 2.6 .4 .6 .5 .3 Finished consumer goods, excluding foods.....| 52.779 129.5 127.8 127.4 -.6 -.3 -.7 -.7 -.8 Nondurable goods less foods................| 36.392 125.7 123.4 123.3 -.6 -.1 -1.2 -1.0 -.8 Durable goods..............................| 16.387 134.9 134.5 133.6 -.4 -.7 .1 -.1 -.6 Capital equipment..............................| 23.577 139.0 138.5 138.1 -.1 -.3 .3 -.4 -.2 Manufacturing industries.....................| 6.028 137.8 137.8 137.5 .3 -.2 .1 -.1 -.1 Nonmanufacturing industries..................| 17.549 139.3 138.7 138.2 -.2 -.4 .4 -.5 -.3 | Intermediate materials, supplies, and components.| 100.000 126.3 125.3 125.3 -.7 0 -.6 -.3 -.2 Materials and components for manufacturing.....| 49.031 128.4 128.4 128.4 -.3 0 -.1 -.1 0 Materials for food manufacturing.............| 3.318 122.9 123.8 123.8 -2.2 0 0 -.1 -.3 Materials for nondurable manufacturing.......| 15.610 130.1 129.2 129.3 -.7 .1 -.5 -.2 .2 Materials for durable manufacturing..........| 10.965 131.9 133.4 133.5 .8 .1 .7 -.1 .2 Components for manufacturing.................| 19.138 126.8 126.6 126.4 -.3 -.2 -.1 .1 -.2 Materials and components for construction......| 12.691 145.0 146.7 147.2 2.6 .3 .3 .3 .4 Processed fuels and lubricants.................| 13.665 93.4 87.1 86.8 -5.0 -.3 -4.6 -1.9 -2.1 Manufacturing industries ....................| 5.415 96.1 89.6 89.6 -5.4 0 -4.7 -1.7 -2.0 Nonmanufacturing industries..................| 8.250 91.6 85.5 85.0 -4.8 -.6 -4.4 -2.1 -2.1 Containers.....................................| 3.527 137.8 134.8 134.9 -4.7 .1 -.5 -1.5 .1 Supplies.......................................| 21.086 135.5 136.1 136.2 0 .1 .4 .1 .1 Manufacturing industries.....................| 7.535 138.7 139.0 139.0 .3 0 0 0 0 Nonmanufacturing industries..................| 13.551 133.8 134.6 134.8 -.1 .1 .5 .2 .2 Feeds......................................| 1.607 127.3 134.6 137.1 -.1 1.9 4.2 1.4 2.0 Other supplies.............................| 11.944 134.7 134.6 134.5 -.1 -.1 .1 0 -.1 | Crude materials for further processing...........| 100.000 126.3 108.9 110.6 -4.6 1.6 -6.9 -.9 1.3 Foodstuffs and feedstuffs......................| 38.004 112.2 116.8 117.4 -8.1 .5 2.1 3.3 -.3 Nonfood materials..............................| 61.996 131.0 99.7 102.1 -1.6 2.4 -12.5 -4.1 2.5 Nonfood materials except fuel 3/.............| 36.095 112.8 103.7 104.9 -1.1 1.2 -3.7 -.4 1.4 Manufacturing 3/...........................| 32.588 104.6 95.1 96.4 -1.7 1.4 -4.0 -.5 1.6 Construction...............................| 3.507 200.7 201.7 202.7 4.9 .5 .1 -.1 .6 Crude fuel 4/................................| 25.901 149.8 83.6 87.7 -2.7 4.9 -25.4 -11.0 4.9 Manufacturing industries...................| 5.258 141.6 82.7 86.4 -2.4 4.5 -23.7 -10.0 4.5 Nonmanufacturing industries................| 20.643 153.9 84.9 89.2 -2.6 5.1 -25.9 -11.2 5.1 | Special groupings | | Finished goods, excluding foods..................|5/ 76.356 132.1 130.7 130.3 -.5 -.3 -.4 -.7 -.5 Intermediate materials less foods and feeds......|6/ 95.065 126.4 125.2 125.2 -.6 0 -.6 -.3 -.2 Intermediate foods and feeds.....................|6/ 4.935 124.6 127.5 128.3 -1.5 .6 1.4 .4 .5 Crude materials less agricultural products 3/ 7/.|8/ 59.898 131.4 99.1 101.6 -1.5 2.5 -12.8 -4.0 2.6 | Finished energy goods............................|5/ 14.720 86.5 82.2 82.0 -3.1 -.2 -3.4 -2.6 -2.1 Finished goods less energy.......................|5/ 85.280 140.3 140.3 140.2 .9 -.1 .5 -.2 -.1 Finished consumer goods less energy..............|5/ 61.703 140.8 141.0 141.0 1.2 0 .6 -.2 0 | Finished goods less foods and energy.............|5/ 61.636 142.8 142.6 142.2 .1 -.3 .4 -.1 -.3 Finished consumer goods less foods and energy....|5/ 38.059 145.1 145.2 144.7 .3 -.3 .3 0 -.3 Consumer nondurable goods less foods and energy..|5/ 21.672 152.4 152.9 152.8 .9 -.1 .5 .1 -.1 | Intermediate energy goods........................|6/ 13.796 93.2 86.9 86.7 -4.9 -.2 -4.6 -2.0 -1.9 Intermediate materials less energy...............|6/ 86.204 133.5 133.8 133.8 0 0 .1 0 .1 Intermediate materials less foods and energy.....|6/ 81.269 134.1 134.2 134.2 .1 0 0 0 0 | Crude energy materials 3/........................|8/ 42.427 119.4 78.7 81.4 -2.3 3.4 -19.2 -5.2 3.4 Crude materials less energy......................|8/ 57.573 123.5 126.6 127.4 -5.6 .6 1.6 1.3 .2 Crude nonfood materials less energy 4/...........|8/ 19.569 156.6 156.0 157.4 -.4 .9 .6 -2.3 1.2 | ____________________________________________________________________________________________________________________________________ 1/ Comprehensive relative importance figures are initially computed 3/ Includes crude petroleum. after the publication of December indexes and are recalculated 4/ Excludes crude petroleum. after final December indexes are available. The first-published 5/ Percent of total finished goods. and final December relative importances initially appear, 6/ Percent of total intermediate materials. respectively, in the release tables containing January and May data. 7/ Formerly titled "Crude materials for 2/ The indexes for Jan. 1997 have been recalculated to incorporate further processing, excluding crude late reports and corrections by respondents. All indexes foodstuffs and feedstuffs, plant and are subject to revision four 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 | | | May 1997 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Jan. |Apr. | May | May | Apr. |Feb. to|Mar. to|Apr. to | |1997 1/|1997 1/|1997 1/| 1996 | 1997 | Mar. | Apr. | May ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 132.6 131.6 131.5 0.3 -0.1 -0.1 -0.6 -0.3 | FINISHED CONSUMER GOODS...............................| 131.0 129.9 129.8 .4 -.1 -.2 -.7 -.4 | FINISHED CONSUMER FOODS..............................| 134.1 134.3 135.0 2.7 .5 .9 -.4 .4 | | 01-11 | Fresh fruits and melons 2/..........................| 111.7 100.1 108.0 18.8 7.9 -3.4 -4.9 7.9 01-13 | Fresh and dry vegetables 2/.........................| 108.7 111.2 111.3 -17.7 .1 13.3 -20.4 .1 01-71-07 | Eggs for fresh use (Dec. 1991=100) 2/...............| 104.2 87.6 86.9 -3.2 -.8 -6.6 -11.3 -.8 02-11 | Bakery products 2/..................................| 173.2 172.9 173.5 2.9 .3 -.1 -.1 .3 02-13 | Milled rice 2/......................................| 128.1 128.5 127.6 -2.4 -.7 -1.2 .9 -.7 02-14-02 | Pasta products (June 1985=100) 2/...................| 126.9 126.4 126.5 -.2 .1 0 -1.6 .1 02-21-01 | Beef and veal.......................................| 101.9 103.2 105.3 11.1 2.0 6.8 -.2 1.8 02-21-04 | Pork................................................| 123.4 123.8 131.3 7.6 6.1 -3.6 5.6 3.2 02-22-03 | Processed young chickens............................| 121.2 117.8 117.6 .5 -.2 .6 -1.0 -1.5 02-22-06 | Processed turkeys 2/................................| 98.4 101.6 103.8 -2.2 2.2 1.1 1.7 2.2 02-23 | Finfish and shellfish...............................| 183.8 174.5 179.9 17.0 3.1 7.9 -5.0 7.9 02-3 | Dairy products......................................| 126.3 127.9 126.0 -.7 -1.5 .1 -1.0 -1.5 02-4 | Processed fruits and vegetables 2/..................| 127.8 127.2 126.8 -.6 -.3 -.3 -.1 -.3 02-55 | Confectionery end products 2/.......................| 167.9 168.6 168.9 1.0 .2 .1 .3 .2 02-62 | Soft drinks.........................................| 133.7 135.1 133.9 .2 -.9 .8 .5 -.4 02-63-01 | Roasted coffee 2/...................................| 128.1 151.6 160.4 25.6 5.8 12.9 4.8 5.8 02-76 | Shortening and cooking oils 2/......................| 136.6 135.3 137.2 -3.4 1.4 -.2 -.9 1.4 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 129.5 127.8 127.4 -.6 -.3 -.7 -.7 -.8 | | 02-61 | Alcoholic beverages.................................| 135.4 135.9 135.3 1.9 -.4 .8 .1 -.2 03-81-01 | Women's apparel 2/..................................| 120.0 119.6 119.8 .3 .2 .1 -.5 .2 03-81-02 | Men's and boys' apparel.............................| 132.4 132.5 132.6 .3 .1 .2 -.1 .2 03-81-03 | Girls', children's, and infants' apparel 2/.........| 124.0 124.4 124.3 2.1 -.1 0 0 -.1 03-82 | Textile housefurnishings 2/.........................| 123.8 122.2 122.2 .8 0 -.3 0 0 04-3 | Footwear............................................| 143.1 143.5 143.7 1.8 .1 0 -.1 .3 05-41 | Residential electric power (Dec. 1990=100)..........| 110.6 110.2 111.7 -.4 1.4 -.1 -.1 0 05-51 | Residential gas (Dec. 1990=100).....................| 123.0 111.8 110.1 .3 -1.5 -4.8 -3.3 -1.3 05-71 | Gasoline............................................| 76.6 73.3 72.3 -9.7 -1.4 -4.0 -4.1 -7.1 05-73-02-01| Fuel oil No. 2......................................| 75.8 64.9 66.1 -4.8 1.8 -9.9 1.4 2.2 06-35 | Pharmaceutical preps, ethical (Prescription)........| 270.2 273.2 274.0 3.2 .3 1.2 -.7 .4 06-36 | Pharmaceutical preps,proprietary (Over-counter).....| 185.1 187.6 187.8 2.6 .1 .1 1.0 .3 06-71 | Soaps and synthetic detergents 2/...................| 125.4 126.6 126.5 1.0 -.1 0 1.0 -.1 06-75 | Cosmetics and other toilet preparations 2/..........| 130.5 130.6 130.9 .5 .2 .2 0 .2 07-12 | Tires, tubes, tread, etc 2/.........................| 96.7 96.4 95.8 -1.6 -.6 -.1 .5 -.6 09-15-01 | Sanitary papers and health products 2/..............| 147.8 144.7 143.0 -5.2 -1.2 -.5 -.5 -1.2 09-31-01 | Newspaper circulation...............................| 201.6 202.2 202.1 2.5 0 .3 .4 -.2 09-32-01 | Periodical circulation..............................| 187.6 187.2 186.7 3.3 -.3 .5 2.0 -.5 09-33 | Book publishing 2/..................................| 197.9 200.2 200.4 3.2 .1 1.4 0 .1 12-1 | Household furniture 2/..............................| 145.4 146.0 146.0 1.1 0 .3 0 0 12-3 | Floor coverings 2/..................................| 127.8 128.2 128.4 1.6 .2 -.2 -.6 .2 12-4 | Household appliances 2/.............................| 111.5 110.7 110.8 -2.0 .1 .1 -.3 .1 12-5 | Home electronic equipment 2/........................| 78.2 78.3 78.3 -1.0 0 -.3 .1 0 12-62 | Household glassware 2/..............................| 158.5 160.1 162.0 2.6 1.2 -.4 1.5 1.2 12-64 | Household flatware 2/...............................| 138.6 138.6 138.6 .1 0 0 0 0 12-66 | Lawn and garden equip., ex. tractors 2/.............| 133.1 132.9 132.9 .5 0 .2 -.2 0 14-11-01 | Passenger cars......................................| 136.5 135.0 132.8 -1.9 -1.6 .2 -.5 -1.6 15-11 | Toys, games, and children's vehicles................| 125.9 125.3 125.2 -.2 -.1 .6 .2 -.2 15-12 | Sporting and athletic goods 2/......................| 123.1 123.8 123.6 .2 -.2 .7 -1.1 -.2 15-2 | Tobacco products 2/.................................| 239.4 247.3 248.3 3.5 .4 2.5 .9 .4 15-5 | Mobile homes 2/.....................................| 151.1 152.0 151.8 1.7 -.1 .1 .7 -.1 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 128.6 128.6 128.5 -.6 -.1 .5 .2 -.1 15-94-04 | Costume jewelry and novelties 2/....................| 139.8 139.8 139.8 2.0 0 .2 .9 0 | | | CAPITAL EQUIPMENT.....................................| 139.0 138.5 138.1 -.1 -.3 .3 -.4 -.2 | | 11-1 | Agricultural machinery and equipment 2/.............| 148.2 147.6 147.4 .9 -.1 .2 .1 -.1 11-2 | Construction machinery and equipment................| 142.0 142.3 142.3 1.9 0 .1 .1 .1 11-37 | Metal cutting machine tools 2/......................| 154.5 154.8 155.6 2.0 .5 .1 .2 .5 11-38 | Metal forming machine tools 2/......................| 151.4 152.5 153.1 2.4 .4 -.3 0 .4 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 137.5 137.7 138.0 1.5 .2 .4 -.1 .2 11-41 | Pumps, compressors, and equipment...................| 145.3 145.8 146.0 1.8 .1 .1 .3 .3 11-44 | Industrial material handling equipment 2/...........| 128.6 129.4 129.6 1.8 .2 .1 .5 .2 11-51 | Electronic computers (Dec. 1990=100) 2/.............| 37.4 34.7 33.1 -23.0 -4.6 -.3 -4.1 -4.6 11-62 | Textile machinery 2/................................| 151.0 151.3 152.5 2.8 .8 .3 -.2 .8 11-64 | Paper industries machinery (June 1982=100)..........| 155.5 157.3 157.3 2.3 0 -.3 .3 .1 11-65 | Printing trades machinery 2/........................| 138.5 140.0 139.3 2.1 -.5 .4 .1 -.5 11-74 | Transformers and power regulators 2/................| 128.5 128.4 128.3 -1.5 -.1 -.7 0 -.1 11-76 | Communication & related equip. (Dec. 1985=100) 2/...| 113.9 113.7 113.7 .9 0 -.4 .1 0 11-79-05 | X-ray and electromedical equipment 2/...............| 108.1 108.1 108.1 -1.5 0 -.1 .6 0 11-91 | Oil field and gas field machinery 2/................| 120.9 122.1 122.0 4.2 -.1 .6 .3 -.1 11-92 | Mining machinery and equipment 2/...................| 138.5 139.6 140.5 1.2 .6 0 .9 .6 11-93 | Office and store machines and equipment 2/..........| 112.3 112.5 112.5 .4 0 .5 .1 0 12-2 | Commercial furniture 2/.............................| 153.6 153.5 153.8 2.1 .2 -.2 .5 .2 14-11-05 | Light motor trucks..................................| 163.0 161.0 159.7 -.1 -.8 0 -.4 -.5 14-11-06 | Heavy motor trucks..................................| 140.3 141.2 141.2 -4.5 0 -.5 -.2 -.4 14-14 | Truck trailers 2/...................................| 130.2 130.4 130.4 0 0 .3 -.1 0 14-21-02 | Civilian aircraft (Dec. 1985=100)...................| 149.4 149.4 149.6 2.3 .1 2.1 -2.0 .4 14-31 | Ships (Dec. 1985=100) 2/............................| 142.7 145.4 141.5 2.3 -2.7 -.1 2.0 -2.7 14-4 | Railroad equipment..................................| 142.4 130.9 131.8 -4.3 .7 -2.1 -2.1 .7 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 126.3 125.3 125.3 -.7 0 -.6 -.3 -.2 | | | INTERMEDIATE FOODS AND FEEDS..........................| 124.6 127.5 128.3 -1.5 .6 1.4 .4 .5 | | 02-12-03 | Flour 2/............................................| 122.1 123.6 123.4 -24.3 -.2 -2.7 3.5 -.2 02-53 | Refined sugar 2/....................................| 126.0 125.7 124.4 1.4 -1.0 1.4 -.9 -1.0 02-54 | Confectionery materials.............................| 109.4 107.8 107.8 1.0 0 .8 -1.7 -.2 02-72 | Crude vegetable oils 2/.............................| 114.7 114.3 117.9 -8.5 3.1 6.0 -4.3 3.1 02-9 | Prepared animal feeds 2/............................| 131.2 137.6 139.9 .9 1.7 3.6 1.0 1.7 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 126.4 125.2 125.2 -.6 0 -.6 -.3 -.2 | | 03-1 | Synthetic fibers 2/.................................| 112.7 111.5 111.5 .5 0 -2.3 .5 0 03-2 | Processed yarns and threads 2/......................| 114.2 114.3 113.7 -.7 -.5 -.2 -.3 -.5 03-3 | Gray fabrics 2/.....................................| 121.4 121.4 121.8 .2 .3 .1 -.3 .3 03-4 | Finished fabrics....................................| 123.7 124.0 123.9 .3 -.1 -.1 0 0 03-83-03 | Industrial textile products 2/......................| 126.2 127.5 127.6 .2 .1 1.3 -.5 .1 04-2 | Leather.............................................| 183.2 188.8 185.5 4.2 -1.7 .1 2.0 -2.7 05-32 | Liquefied petroleum gas 2/..........................| 114.8 82.6 75.0 -1.7 -9.2 -20.7 -5.3 -9.2 ____________________________________________________________________________________________________________________________________ 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 | | | May 1997 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Jan. |Apr. | May | May | Apr. |Feb. to|Mar. to|Apr. to | |1997 1/|1997 1/|1997 1/| 1996 | 1997 | Mar. | Apr. | May ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 127.7 127.4 128.4 -0.9 0.8 -0.2 0.5 -1.3 05-43 | Industrial electric power...........................| 128.3 127.8 128.4 -4.9 .5 .1 -.1 -1.8 05-52 | Commercial natural gas (Dec. 1990=100)..............| 121.2 103.5 101.9 1.6 -1.5 -6.8 -4.9 1.2 05-53 | Industrial natural gas (Dec. 1990=100)..............| 130.2 101.8 99.9 3.0 -1.9 -13.0 -2.2 -1.2 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 112.3 87.7 91.2 1.2 4.0 -16.5 -4.8 7.2 05-72-03 | Jet fuels...........................................| 75.1 61.6 58.5 -15.0 -5.0 -8.7 -6.1 -6.2 05-73-03 | No. 2 Diesel fuel...................................| 73.2 65.9 64.1 -14.0 -2.7 -10.7 -.3 -2.7 05-74 | Residual fuel 2/....................................| 64.6 49.9 56.6 -8.6 13.4 -20.4 -7.2 13.4 06-1 | Industrial chemicals 2/.............................| 127.9 126.6 126.0 -1.3 -.5 -.6 -.9 -.5 06-21 | Prepared paint......................................| 150.1 152.5 152.4 4.5 -.1 .3 .4 .1 06-22 | Paint materials 2/..................................| 140.1 139.8 142.2 -.5 1.7 -.1 -.5 1.7 06-31 | Medicinal and botanical chemicals 2/................| 131.7 132.3 132.4 2.5 .1 0 2.4 .1 06-4 | Fats and oils, inedible 2/..........................| 150.3 116.3 122.2 -6.5 5.1 -9.7 -12.4 5.1 06-51 | Mixed fertilizers...................................| 112.8 113.5 113.7 -2.0 .2 -.2 -.9 .3 06-52-01 | Nitrogenates........................................| 138.4 141.5 140.2 5.6 -.9 -1.5 3.8 -.1 06-52-02 | Phosphates 2/.......................................| 111.6 112.2 111.5 -6.4 -.6 .4 0 -.6 06-53 | Other agricultural chemicals........................| 147.3 144.4 145.7 .3 .9 .9 .7 1.3 06-6 | Plastic resins and materials 2/.....................| 137.0 139.0 139.2 6.6 .1 .4 .1 .1 07-11-02 | Synthetic rubber 2/.................................| 121.2 119.6 119.5 -2.0 -.1 -.7 -1.0 -.1 07-21 | Plastic construction products 2/....................| 127.7 128.9 129.7 -.7 .6 -.5 .5 .6 07-22 | Unsupported plastic film, sheet, & other shapes.....| 132.3 131.4 131.8 .2 .3 -.5 .5 .4 07-26 | Plastic parts and components for manufacturing 2/...| 117.5 117.4 117.4 -.3 0 .1 -.1 0 08-11 | Softwood lumber 2/..................................| 202.6 214.9 217.7 13.3 1.3 1.3 2.2 1.3 08-12 | Hardwood lumber 2/..................................| 168.4 172.1 173.1 6.1 .6 1.0 .9 .6 08-2 | Millwork 2/.........................................| 170.1 170.8 171.2 3.3 .2 .1 .2 .2 08-3 | Plywood 2/..........................................| 154.5 159.0 158.3 0 -.4 3.1 -3.0 -.4 09-11 | Woodpulp 2/.........................................| 127.4 121.9 122.6 7.4 .6 -1.1 -2.9 .6 09-13 | Paper 2/............................................| 141.7 141.6 142.4 -4.7 .6 -.1 1.2 .6 09-14 | Paperboard..........................................| 147.1 137.2 137.0 -11.0 -.1 -2.7 -2.7 1.2 09-15-03 | Paper boxes and containers 2/.......................| 148.1 142.3 142.4 -8.3 .1 -1.2 -2.2 .1 09-2 | Building paper and board 2/.........................| 132.4 129.7 128.6 -6.7 -.8 .3 -1.1 -.8 09-37 | Commercial printing (June 1982=100) 2/..............| 147.8 147.9 147.8 -.5 -.1 -.1 0 -.1 10-15 | Foundry and forge shop products.....................| 133.6 134.2 134.1 1.1 -.1 .4 -.1 0 10-17 | Steel mill products 2/..............................| 115.9 116.3 116.2 .9 -.1 0 .3 -.1 10-22 | Primary nonferrous metals 2/........................| 125.4 129.0 129.7 -4.1 .5 3.9 -1.7 .5 10-25-01 | Aluminum mill shapes 2/.............................| 141.8 146.9 146.2 .6 -.5 1.1 .3 -.5 10-25-02 | Copper and brass mill shapes 2/.....................| 179.0 182.0 182.4 -4.7 .2 3.8 -1.5 .2 10-26 | Nonferrous wire and cable 2/........................| 147.7 150.2 150.9 .1 .5 1.0 .2 .5 10-3 | Metal containers 2/.................................| 108.0 107.9 107.8 -1.7 -.1 .2 -.4 -.1 10-4 | Hardware............................................| 144.9 145.3 145.4 1.3 .1 -.1 .5 .1 10-5 | Plumbing fixtures and brass fittings................| 171.9 174.8 175.1 2.1 .2 -.6 .1 .2 10-6 | Heating equipment...................................| 152.0 152.2 152.3 1.0 .1 -.1 .3 .1 10-7 | Fabricated structural metal products................| 139.0 139.6 140.2 2.0 .4 0 .2 .4 10-88 | Fabricated ferrous wire products (June 1982=100) 2/.| 127.3 127.3 127.3 .1 0 0 .2 0 10-89 | Other misc. metal products 2/.......................| 126.1 126.2 126.2 .5 0 -.2 0 0 11-45 | Mechanical power transmission equipment.............| 153.7 154.6 154.9 2.4 .2 .1 0 .3 11-48 | Air conditioning and refrigeration equipment........| 132.2 132.8 132.7 0 -.1 .2 .3 .1 11-49-02 | Metal valves, ex.fluid power (Dec. 1982=100) 2/.....| 151.3 153.2 153.1 2.1 -.1 .4 .5 -.1 11-49-05 | Ball and roller bearings............................| 161.1 163.4 163.5 4.0 .1 1.6 .8 .2 11-71 | Wiring devices......................................| 152.2 153.5 153.9 1.9 .3 .1 .5 .4 11-73 | Motors, generators, motor generator sets............| 144.4 144.5 144.7 -1.0 .1 -.1 .1 .1 11-75 | Switchgear, switchboard, etc., equipment............| 144.0 144.6 144.7 1.8 .1 -.3 .1 .3 11-78 | Electronic components and accessories 2/............| 106.7 105.5 104.6 -3.6 -.9 -.4 -.2 -.9 11-94 | Internal combustion engines.........................| 139.8 139.8 139.7 .9 -.1 .4 .1 .1 11-95 | Machine shop products 2/............................| 134.8 134.9 134.9 1.4 0 -.2 .2 0 13-11 | Flat glass 2/.......................................| 108.8 108.4 108.3 -1.0 -.1 -.3 -.1 -.1 13-22 | Cement..............................................| 136.4 140.0 140.1 3.9 .1 -.2 .7 -.4 13-3 | Concrete products...................................| 135.0 135.5 136.1 2.3 .4 .1 .1 .6 13-6 | Asphalt felts and coatings 2/.......................| 99.6 100.2 100.5 .3 .3 -.5 .8 .3 13-7 | Gypsum products 2/..................................| 169.0 170.5 173.7 17.4 1.9 .5 1.2 1.9 13-8 | Glass containers 2/.................................| 126.0 125.9 125.9 -2.9 0 0 0 0 14-12 | Motor vehicle parts 2/..............................| 115.7 115.3 115.3 -.9 0 .1 0 0 14-23 | Aircraft engines & engine parts (Dec. 1985=100).....| 137.7 137.8 135.3 1.0 -1.8 .1 .9 -1.9 14-25 | Aircraft parts & aux.equip.,nec (June 1985=100) 2/..| 141.4 140.2 140.8 1.0 .4 -.1 -.1 .4 15-42 | Photographic supplies 2/............................| 129.3 129.3 127.8 -1.4 -1.2 0 0 -1.2 15-6 | Medical/surgical/personal aid devices...............| 142.9 144.2 142.9 -.4 -.9 .1 .5 -.9 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 126.3 108.9 110.6 -4.6 1.6 -6.9 -.9 1.3 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 112.2 116.8 117.4 -8.1 .5 2.1 3.3 -.3 | | 01-21 | Wheat 2/............................................| 114.7 121.7 115.2 -34.3 -5.3 .7 7.5 -5.3 01-22-02-05| Corn................................................| 107.6 119.2 114.7 -43.2 -3.8 9.9 -3.9 -3.1 01-31 | Slaughter cattle....................................| 95.8 103.3 101.6 13.3 -1.6 6.9 5.0 .7 01-32 | Slaughter hogs......................................| 89.0 91.5 100.2 2.5 9.5 -10.2 19.2 2.3 01-41-02 | Slaughter broilers/fryers...........................| 150.8 132.3 135.4 -8.9 2.3 -15.7 13.5 -10.3 01-42 | Slaughter turkeys...................................| 98.9 111.8 119.2 -.3 6.6 -1.7 8.1 5.3 01-6 | Fluid milk..........................................| 97.0 98.3 95.8 -8.7 -2.5 3.9 -.7 -3.5 01-83-01-31| Soybeans............................................| 124.4 142.4 149.8 8.0 5.2 11.7 -3.5 5.1 02-52-01-01| Cane sugar,raw 2/...................................| 117.6 116.1 115.8 -2.8 -.3 1.0 -.3 -.3 | | | CRUDE NONFOOD MATERIALS..............................| 131.0 99.7 102.1 -1.6 2.4 -12.5 -4.1 2.5 | | 01-51-01-01| Raw cotton..........................................| 116.6 114.7 115.5 -16.4 .7 .3 -10.2 1.2 01-92-01-01| Leaf tobacco 2/.....................................| 118.2 (3) (3) (3) (3) -8.2 (3) (3) 04-11 | Cattle hides 2/.....................................| 207.5 212.0 207.9 16.7 -1.9 2.0 .1 -1.9 05-1 | Coal 2/.............................................| 97.3 101.4 94.9 -2.2 -6.4 3.2 5.2 -6.4 05-31 | Natural gas 2/......................................| 159.5 80.5 85.2 -3.2 5.8 -29.2 -13.3 5.8 05-61 | Crude petroleum 2/..................................| 73.4 56.1 60.2 -1.3 7.3 -13.4 -.4 7.3 08-5 | Logs, timber, etc. 2/...............................| 213.0 215.2 216.4 6.7 .6 0 0 .6 09-12 | Wastepaper 2/.......................................| 150.3 154.0 164.7 32.7 6.9 8.4 -7.6 6.9 10-11 | Iron ore 2/.........................................| 99.7 99.7 95.2 .4 -4.5 0 0 -4.5 10-12 | Iron and steel scrap 2/.............................| 182.2 180.2 185.0 -7.3 2.7 -2.2 -3.2 2.7 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 86.4 83.5 84.9 -12.7 1.7 4.6 -5.1 1.7 10-23-01 | Copper base scrap 2/................................| 163.6 164.9 172.2 -5.9 4.4 2.7 -2.5 4.4 10-23-02 | Aluminum base scrap.................................| 188.3 196.0 199.3 10.8 1.7 3.6 -2.1 4.8 13-21 | Construction sand, gravel, and crushed stone........| 147.2 148.2 148.2 1.8 0 .4 .1 .3 ____________________________________________________________________________________________________________________________________ 1/ The indexes for January 1997 have been recalculated 2/ Not seasonally adjusted. to incorporate late reports and corrections by respondents. 3/ Not available. All indexes are subject to revision four months after original publication. Table 3. Producer Price Indexes for selected commodity groupings (1982=100 unless otherwise indicated) _______________________________________________________________________________________________ | | | | | Unadjusted index 1/ | Commodity| |___________________________________| code | Grouping | Jan. 1997 |April 1997 | May 1997 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 372.1 | 369.3 | 369.0 | | All commodities................................| 129.7 | 127.2 | 127.3 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 126.7 | 128.7 | 129.3 | 01 | Farm products................................| 113.0 | 116.6 | 117.3 | 02 | Processed foods and feeds....................| 133.4 | 134.6 | 135.3 | | | | | | | Industrial commodities.........................| 130.3 | 126.9 | 126.9 | 03 | Textile products and apparel.................| 122.6 | 122.5 | 122.5 | 04 | Hides, skins, leather, and related products..| 155.3 | 157.6 | 156.5 | 05 | Fuels and related products and power 2/......| 96.1 | 82.9 | 83.3 | 06 | Chemicals and allied products 2/.............| 143.6 | 143.8 | 143.8 | 07 | Rubber and plastic products..................| 123.2 | 123.2 | 123.4 | 08 | Lumber and wood products.....................| 180.6 | 184.9 | 186.1 | 09 | Pulp, paper, and allied products.............| 167.6 | 166.1 | 166.1 | 10 | Metals and metal products....................| 131.0 | 131.8 | 132.2 | 11 | Machinery and equipment......................| 126.4 | 126.2 | 125.9 | 12 | Furniture and household durables.............| 130.9 | 130.9 | 131.1 | 13 | Nonmetallic mineral products.................| 132.3 | 133.2 | 133.4 | 14 | Transportation equipment.....................| 142.9 | 142.2 | 141.3 | 15 | Miscellaneous products.......................| 148.7 | 150.6 | 150.3 | | | | | | | Industrial commodities less fuels and related | | | | | products and power...........................| 139.1 | 139.2 | 139.1 | | | | | | | | | | | | OTHER COMMODITY GROUPINGS | | | | | | | | | 01-1 | Fruits and melons, fresh and dry vegetables, | | | | | and tree nuts................................| 117.0 | 111.2 | 115.9 | 01-2 | Grains.........................................| 111.1 | 121.2 | 116.6 | 01-3 | Slaughter livestock............................| 95.4 | 101.6 | 102.6 | 01-4 | Slaughter poultry..............................| 138.1 | 127.0 | 130.9 | 01-5 | Plant and animal fibers........................| 116.4 | 115.1 | 116.0 | 01-7 | Chicken eggs...................................| 125.8 | 108.2 | 106.2 | 01-8 | Hay, hayseeds, and oilseeds....................| 147.6 | 164.4 | 170.6 | 01-83 | Oilseeds.......................................| 134.7 | 151.7 | 159.1 | 01-9 | Other farm products............................| 176.2 | 'N.A.' | 'N.A.' | 02-1 | Cereal and bakery products.....................| 158.3 | 158.5 | 158.6 | 02-2 | Meats, poultry, and fish.......................| 119.1 | 118.8 | 121.2 | 02-22 | Processed poultry..............................| 118.6 | 116.8 | 117.0 | 02-5 | Sugar and confectionery........................| 138.8 | 138.6 | 138.5 | 02-6 | Beverages and beverage materials...............| 135.3 | 138.7 | 138.8 | 02-63 | Packaged beverage materials....................| 126.7 | 146.8 | 154.2 | 02-7 | Fats and oils..................................| 128.8 | 128.5 | 130.9 | 03-81 | Apparel........................................| 125.4 | 125.3 | 125.4 | 04-4 | Other leather and related products.............| 142.0 | 143.3 | 143.3 | 05-3 | Gas fuels 2/...................................| 145.8 | 80.0 | 81.4 | 05-4 | Electric power.................................| 128.5 | 128.1 | 129.3 | 05-7 | Refined petroleum products.....................| 74.3 | 68.3 | 67.7 | 06-3 | Drugs and pharmaceuticals......................| 217.4 | 219.3 | 219.7 | 06-5 | Agricultural chemicals and products............| 134.1 | 134.0 | 134.0 | 06-7 | Other chemicals and allied products............| 132.4 | 132.8 | 133.2 | 07-1 | Rubber and rubber products.....................| 116.5 | 116.3 | 116.1 | 07-11 | Rubber, except natural rubber..................| 120.5 | 118.9 | 118.8 | 07-13 | Miscellaneous rubber products..................| 137.4 | 137.7 | 137.9 | 07-2 | Plastic products...............................| 129.7 | 129.8 | 130.1 | 08-1 | Lumber.........................................| 190.2 | 199.8 | 202.0 | 09-1 | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 145.1 | 141.8 | 142.0 | 09-15 | Converted paper and paperboard products........| 150.3 | 146.7 | 146.2 | 10-1 | Iron and steel.................................| 125.5 | 125.7 | 126.0 | 10-2 | Nonferrous metals..............................| 136.0 | 138.1 | 138.9 | 10-25 | Nonferrous mill shapes.........................| 141.5 | 145.4 | 144.8 | 11-3 | Metalworking machinery and equipment...........| 144.3 | 145.1 | 145.3 | 11-4 | General purpose machinery and equipment........| 143.8 | 144.9 | 145.0 | 11-6 | Special industry machinery.....................| 155.3 | 156.1 | 156.5 | 11-7 | Electrical machinery and equipment.............| 123.0 | 122.7 | 122.4 | 11-9 | Miscellaneous machinery and equipment..........| 130.4 | 130.6 | 130.7 | 12-6 | Other household durable goods..................| 149.2 | 149.8 | 150.2 | 13-2 | Concrete ingredients...........................| 140.7 | 142.7 | 142.7 | 14-1 | Motor vehicles and equipment...................| 134.6 | 133.6 | 132.6 | 15-1 | Toys, sporting goods, small arms, etc..........| 130.7 | 131.0 | 130.9 | 15-4 | Photographic equipment and supplies............| 118.6 | 118.6 | 117.5 | 15-9 | Other miscellaneous products...................| 133.3 | 133.6 | 133.4 | __________________________________________________________|___________|___________|___________| 1/ Data for Jan. 1997 have been revised to reflect the availability of late reports and corrections by respondents. All data are subject to revision 4 months after original publication. 2/ Prices of some items in this grouping are lagged 1 month. Table 4. Producer price indexes for the net output of major industry groups, not seasonally adjusted ____________________________________________________________________________________________________________________ | | | Index | Percent change Industry | Industry 1/ |Index|_______________________|to_May__1997_from:__ code | |base | | | | | | | |Jan. |Apr. |May | May | Apr. | | |1997 2/|1997 2/|1997 2/| 1996 | 1997 __________________|______________________________________________|_____|_______|_______|_______|________|___________ | | | |Total mining industries...................... |12/84| 111.3 79.4 81.2 -2.1 2.3 10 | Metal mining................................ |12/84| 89.9 87.6 87.9 -9.5 .3 12 | Coal mining................................. |12/85| 92.9 95.6 91.9 -1.3 -3.9 13 | Oil and gas extraction...................... |12/85| 121.1 77.8 80.9 -1.1 4.0 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 127.6 128.2 128.3 .5 .1 | | | |Total manufacturing industries............... |12/84| 128.1 127.7 127.6 .2 -.1 20 | Food and kindred products................... |12/84| 127.4 128.3 128.8 2.0 .4 21 | Tobacco manufactures........................ |12/84| 201.4 208.7 209.5 4.2 .4 22 | Textile mill products....................... |12/84| 118.6 118.8 118.9 .5 .1 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 122.9 122.9 123.0 .7 .1 24 | Lumber and wood products, except furniture.. |12/84| 156.4 159.6 160.3 4.2 .4 25 | Furniture and fixtures...................... |12/84| 137.5 137.8 138.0 1.7 .1 26 | Paper and allied products................... |12/84| 134.5 131.2 131.0 -5.2 -.2 27 | Printing, publishing, and allied industries. |12/84| 168.0 168.4 168.4 1.9 0 28 | Chemicals and allied products............... |12/84| 146.8 147.0 147.1 .8 .1 29 | Petroleum refining and related products..... |12/84| 92.9 85.7 85.5 -7.9 -.2 30 | Rubber and miscellaneous plastic products... |12/84| 122.9 122.9 122.9 -.1 0 31 | Leather and leather products................ |12/84| 136.8 138.1 137.2 2.0 -.7 32 | Stone, clay, glass, and concrete products... |12/84| 126.8 127.5 127.7 1.8 .2 33 | Primary metal industries.................... |12/84| 123.6 125.0 125.1 .4 .1 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 126.8 127.3 127.4 1.1 .1 35 | Machinery, except electrical................ |12/84| 119.1 118.9 118.7 -.5 -.2 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 112.5 112.0 111.7 -1.2 -.3 37 | Transportation equipment.................... |12/84| 135.4 134.8 134.0 -.1 -.6 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 125.5 125.7 125.4 .2 -.2 39 | Miscellaneous manufacturing industries...... |12/85| 128.6 128.7 128.8 .9 .1 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 99.9 100.2 100.1 (3) -.1 42 | Motor freight transportation and warehousing |06/93| 108.0 108.6 108.6 2.5 0 43 | United states postal service................ |06/89| 132.3 132.3 132.3 0 0 44 | Water transportation........................ |12/92| 104.1 102.9 104.6 1.6 1.7 45 | Transportation by air....................... |12/92| 128.8 125.8 125.8 4.1 0 46 | Pipe lines, except natural gas.............. |12/86| 98.8 98.8 98.9 -4.6 .1 80 | Health services............................. |12/94| 105.7 106.1 106.0 1.6 -.1 81 | Legal services.............................. |12/96| 101.6 101.8 101.9 (3) .1 ____________________________________________________________________________________________________________________ 1/ Indexes in this table are derived from the net-output-weighted industry price indexes. Because of differences in coverage and aggregation methodology, they will generally not match the movements of similarly-titled indexes which are derived from traditional commodity groupings. 2/ The indexes for Jan. 1997 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision four months after original publication. 3/ Not available. Table 5. Producer Price Indexes by stage of processing, seasonally adjusted (1982=100) ________________________________________________________________________________________________________________ | | Index 1/ |________________________________________________________ Grouping | | | | | | | Dec. | Jan. | Feb. | Mar. | Apr. | May. | 1996 | 1997 | 1997 | 1997 | 1997 | 1997 _______________________________________________________|_________|________|________|________|________|__________ Finished goods...................................| 133.4 133.0 132.5 132.4 131.6 131.2 Finished consumer goods........................| 132.1 131.6 131.1 130.8 129.9 129.4 Finished consumer foods......................| 135.9 134.6 134.1 135.3 134.7 135.2 Crude......................................| 136.0 130.8 132.8 139.3 120.9 124.7 Processed..................................| 135.9 134.8 134.1 134.9 135.6 136.0 Finished consumer goods, excluding foods.....| 130.3 130.2 129.6 128.7 127.8 126.8 Nondurable goods less foods................| 127.0 126.8 126.1 124.6 123.4 122.4 Durable goods..............................| 134.5 134.4 134.4 134.6 134.4 133.6 Capital equipment..............................| 138.5 138.6 138.5 138.9 138.3 138.0 Manufacturing industries.....................| 137.4 137.7 137.7 137.8 137.7 137.5 Nonmanufacturing industries..................| 138.9 138.9 138.7 139.2 138.5 138.1 | Intermediate materials, supplies, and components.| 126.4 126.6 126.6 125.9 125.5 125.3 Materials and components for manufacturing.....| 128.3 128.4 128.5 128.4 128.3 128.3 Materials for food manufacturing.............| 124.1 123.6 124.3 124.3 124.2 123.8 Materials for nondurable manufacturing.......| 129.8 130.1 129.9 129.3 129.0 129.2 Materials for durable manufacturing..........| 131.5 131.9 132.5 133.4 133.3 133.5 Components for manufacturing.................| 126.8 126.8 126.6 126.5 126.6 126.4 Materials and components for construction......| 144.9 145.0 145.6 146.1 146.5 147.1 Processed fuels and lubricants.................| 94.6 95.2 94.7 90.3 88.6 86.7 Manufacturing industries ....................| 97.2 97.9 97.0 92.4 90.8 89.0 Nonmanufacturing industries..................| 92.9 93.4 93.1 89.0 87.1 85.3 Containers.....................................| 137.7 137.9 137.5 136.8 134.8 134.9 Supplies.......................................| 135.6 135.4 135.4 135.9 136.0 136.2 Manufacturing industries.....................| 138.9 138.7 139.0 139.0 139.0 139.0 Nonmanufacturing industries..................| 133.8 133.7 133.5 134.2 134.5 134.8 Feeds......................................| 127.9 126.9 127.4 132.7 134.6 137.3 Other supplies.............................| 134.7 134.7 134.4 134.5 134.5 134.4 | Crude materials for further processing...........| 122.1 126.7 118.2 110.0 109.0 110.4 Foodstuffs and feedstuffs......................| 114.5 113.1 111.3 113.6 117.3 117.0 Nonfood materials..............................| 122.7 131.0 118.5 103.7 99.5 102.0 Nonfood materials except fuel 2/.............| 109.3 112.9 107.7 103.7 103.3 104.7 Manufacturing 2/...........................| 101.0 104.6 99.2 95.2 94.7 96.2 Construction...............................| 199.0 200.6 201.3 201.6 201.3 202.5 Crude fuel 3/................................| 134.1 149.8 125.9 93.9 83.6 87.7 Manufacturing industries...................| 127.6 141.6 120.4 91.9 82.7 86.4 Nonmanufacturing industries................| 137.5 153.9 129.0 95.6 84.9 89.2 | Special groupings | | Finished goods, excluding foods..................| 132.5 132.4 132.0 131.5 130.6 129.9 Intermediate materials less foods and feeds......| 126.5 126.7 126.6 125.8 125.4 125.1 Intermediate foods and feeds.....................| 125.6 125.0 125.6 127.3 127.8 128.4 Crude materials less agricultural products 2/....| 122.6 131.3 118.3 103.1 99.0 101.6 | Finished energy goods............................| 88.6 88.4 87.5 84.5 82.3 80.6 Finished goods less energy.......................| 140.6 140.2 139.9 140.6 140.3 140.2 Finished consumer goods less energy..............| 141.4 140.9 140.5 141.3 141.0 141.0 | Finished goods less foods and energy.............| 142.5 142.5 142.2 142.7 142.5 142.1 Finished consumer goods less foods and energy....| 144.9 144.8 144.6 145.1 145.1 144.7 Consumer nondurable goods less foods and energy..| 152.4 152.3 151.8 152.6 152.8 152.7 | Intermediate energy goods........................| 94.3 94.9 94.4 90.1 88.3 86.6 Intermediate materials less energy...............| 133.4 133.5 133.6 133.7 133.7 133.8 Intermediate materials less foods and energy.....| 133.9 134.0 134.1 134.1 134.1 134.1 | Crude energy materials 2/........................| 109.6 119.4 102.7 83.0 78.7 81.4 Crude materials less energy......................| 124.2 124.2 123.1 125.1 126.7 127.0 Crude nonfood materials less energy 3/...........| 153.2 156.7 157.8 158.7 155.0 156.9 ______________________________________________________________________________________________________________ 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 January 1997 have been recalculated to incorporate late reports and corrections by respondents. 2/ Includes crude petroleum. 3/ Excludes crude petroleum. Technical Notes Brief Explanation of Producer Price Indexes Producer price indexes (PPI) measure average changes in prices received by domestic producers of commodities in all stages of processing. Most of the information used in calculating the indexes is obtained through the systematic sampling of nearly every industry in the manufacturing and mining sectors of the economy. The PPI program also includes some information from other sectors--agriculture, fishing, forestry, services, and gas and electricity. Because producer price indexes are designed to measure only the change in prices received for the output of domestic industries, imports are not included. The sample currently contains about 3,200 commodities and 80,000 quotations per month. There are three primary systems of indexes within the PPI program: (1) Stage of processing indexes; (2) commodity indexes; and (3) indexes for the net output of industries and their products. The stage-of-processing structure (tables 1 and 2) organizes products by class of buyer and degree of processing. The commodity structure (tables 2 and 3) organizes products by similarity of end-use or material composition. The entire output of various industries is sampled to derive price indexes for the net output of industries and their products (table 4). Within the stage-of-processing system, finished goods are commodities that will not undergo further processing and are ready for sale to the final demand user, either an individual consumer or business firm. Consumer foods include unprocessed foods such as eggs and fresh vegetables, as well as processed foods such as bakery products and meats. Other finished consumer goods include durable goods such as automobiles, household furniture, and appliances, and nondurable goods such as apparel and home heating oil. Capital equipment includes producer durable goods such as heavy motor trucks, tractors, and machine tools. The stage-of-processing category for intermediate materials, supplies, and components consists partly of commodities that have been processed but require further processing. Examples of such semifinished goods include flour, cotton yarn, steel mill products, and lumber. The intermediate goods category also encompasses nondurable, physically complete items purchased by business firms as inputs for their operations. Examples include diesel fuel, belts and belting, paper boxes, and fertilizers. Crude materials for further processing are products entering the market for the first time that have not been manufactured or fabricated and that are not sold directly to consumers. Crude foodstuffs and feedstuffs include items such as grains and livestock. Examples of crude nonfood materials include raw cotton, crude petroleum, coal, hides and skins, and iron and steel scrap. Producer price indexes for the net output of industries and their products are grouped according to the Standard Industrial Classification (SIC) and the Census product code extension of the SIC. Industry price indexes are compatible with other economic time series organized by SIC codes, such as data on employment, wages, and productivity. Table 4 lists indexes for the net output of major mining and manufacturing industry groups at the 2-digit level. Producer price indexes are based on selling prices reported by establishments of all sizes selected by probability sampling, with the probability of selection proportionate to size. Individual items and transaction terms from these firms are also chosen by probability proportionate to size. BLS strongly encourages cooperating companies to supply actual transaction prices at the time of shipment to minimize the use of list prices. Prices are normally reported by mail questionnaire for the Tuesday of the week containing the 13th. Price data are provided on a voluntary and confidential basis; no one but sworn BLS employees are allowed access to individual company price reports. All producer price indexes are routinely subject to revision once, 4 months after original publication, to reflect the availability of late reports and corrections by respondents. Net output values of shipments are used as weights for industry indexes. Net output values refer to the value of shipments from establishments in one industry to establishments classified in another industry. However, weights for commodity price indexes are based on gross shipment values, including shipment values between establishments within the same industry. As a result, broad commodity grouping indexes such as the all commodities index are affected by the multiple counting of price change at successive stages of processing, which can lead to exaggerated or misleading signals about inflation. Stage-of- processing indexes partially correct this defect, but industry indexes consistently correct for this at all levels of aggregation. Therefore, industry and stage-of-processing indexes are more appropriate than broad commodity groupings for economic analysis of general price trends. Weights for most traditional commodity groupings of the PPI, as well as all indexes (such as stage-of-processing indexes) calculated from traditional commodity groupings, currently reflect 1987 values of shipments as reported in the Census of Manufactures and other sources. From January 1987 through December 1991, PPI weights were derived from 1982 shipment values. Industry indexes shown in table 4 are also now calculated with 1987 net output weights. Effective with publication of January 1988 data, many important PPI series (including stage-of-processing groupings and most commodity groups and individual items) were placed on a new reference base, 1982=100, to coincide with the reference year of the shipment weights. From 1971 through 1987, the standard reference base for most PPI series was 1967=100. Except for rounding differences, the shift to the new reference base did not alter any changes to previously published percent changes for affected PPI series. (See "Calculating Index Changes," below.) The new reference base is not used for indexes with a base later than December 1981, nor for indexes for the net output of industries and their products. For further information on the underlying concepts and methodology of the Producer Price Index, see chapter 16, "Producer Prices," in BLS Handbook of Methods (September 1992), Bulletin 2414. Reprints are available from the Bureau of Labor Statistics on request. Calculating Index Changes Movements of price indexes from one month to another are usually expressed as percent changes rather than as changes in index points because index point chances are affected by the level of the index in relation to its base period, while percent changes are not. The box shows the computation of index point and percent changes. Percent changes for 3-month and 6-month periods can be expressed as annual rates that are computed according to the standard formula for compound growth rates. These data indicate what the percent change would be if the rate for a given 3- or 6-month span were maintained for a 12-month period. Index Point Change Finished Goods Price Index 107.5 Less previous index 104.0 Equals index point change 3.5 Index Percent Change Index point change 3.5 Divided by the previous index 104.0 Equals 0.034 Result multiplied by 100 0.034 x 100 Equals percent change 3.4 Each index measures price changes from a reference period which equals 100.0 (1982 or some later month). An increase of 5.5 percent from the reference period in the Finished Goods Price Index, for example, is shown as 105.5. This change can also be expressed in dollars as follows: "Prices received by domestic producers of a systematic sample of finished goods have risen from $100 in 1982 to $105.50 to-day." Likewise, a current index of 90.0 would indicate that prices received by producers of finished goods today are 10 percent lower than they were in 1982. Seasonally Adjusted and Unadjusted Data Because price data are used for different purposes by different groups, the Bureau of Labor Statistics publishes seasonally adjusted as well as unadjusted changes each month. Seasonally adjusted data are preferred for analyzing general price trends in the economy because they eliminate the effect of changes that normally occur at about the same time and in about the same magnitude every year-such as price movements resulting from normal weather patterns, regular production and marketing cycles, model changeovers, seasonal discounts, and holidays. For these reasons, seasonally adjusted data more clearly reveal underlying cyclical trends. Unadjusted data are of primary interest to users who need information which can be related to actual dollar values of transactions. Individuals requiring this information include marketing specialists, purchasing agents, budget and cost analysts, contract specialists, and commodity traders. It is the unadjusted data that are generally cited in escalating long-term contracts such as purchasing agreements or real estate leases. (See Escalation and Producer Price Indexes: A Guide for Contracting Parties, BLS Report 807, September 1991, available on request from BLS.) For more information, see "Appendix A: Seasonal Adjustment Methodology at BLS," in the BLS Handbook of Methods (September 1992), Bulletin 2414.