FOR DATA ONLY: (202) 606-7828 USDL 98-345 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 AUGUST 14, 1998 Producer Price Indexes -- July 1998 The Producer Price Index for Finished Goods increased 0.2 percent in July, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This rise followed a decrease of 0.1 percent in June and an increase of 0.2 percent in May. Prices received by producers of intermediate goods were unchanged in July, after moving down 0.3 percent in June. The crude goods index fell 1.8 percent, following a 1.4-percent decline in the prior month. (See Table A.) Table A. Monthly and annual percent changes in selected stage-of- processing price indexes, seasonally adjusted Finish ed goods Change in Except Finished Inter- goods foods From 12 mediateCrude and months Month Total Foods Energy energy ago goods goods (unadj.) 1997 July -0.2 -0.3 -0.5 -0.1 -0.2 -0.2 -0.5 Aug. 0.2 -0.1 0.9 0.1 -0.2 0.1 0.4 Sept. 0.4 0 1.1 0.4 0 0.2 1.3 Oct. 0 0.7 -0.5 -0.1 -0.3 -0.1 4.6 Nov. -0.2 -0.3 -0.4 -0.1 -0.7 0.2 1.6 Dec. -0.2 0 -0.6 -0.1 -1.2 -0.2 -5.6 1998 Jan. -0.6 -0.4 -3.7 0 -1.7 -0.6 -5.8 Feb. -0.1 0.2 -1.8 0.1 -1.5 -0.3 -1.9 Mar. r-0.1 r-0.3 r-2.3 r0.5 r-1.5 -0.4 r-1.2 Apr. r-0.1 0.4 r0.1 r-0.3 -1.2 0 r0.9 May 0.2 -0.3 0.8 0.2 -0.9 -0.1 -0.3 June -0.1 0.1 -1.7 0.2 -0.8 -0.3 -1.4 July 0.2 0.4 0.3 0.1 -0.3 0 -1.8 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for March 1998 have been revised to reflect the availability of late reports and corrections by respondents. -2- Among finished goods in July, the index for finished energy goods turned up after falling a month ago. Prices for finished consumer foods rose faster than in June. The index for capital equipment inched up, after showing no change in the previous month. Prices for finished consumer goods excluding foods and energy increased 0.3 percent, the same as in June. Before seasonal adjustment, the Producer Price Index for Finished Goods moved up 0.2 percent in July to 130.9 (1982=100). From July 1997 to July 1998, the Finished Goods Price Index decreased 0.3 percent. Over the past 12 months, prices for finished goods other than foods and energy rose 1.1 percent, and the index for finished consumer foods rose 0.4 percent. On the other hand, prices for finished energy goods declined 7.5 percent. Prices received by domestic producers of intermediate goods declined 1.7 percent for the 12 months ended in July, and the index for crude goods fell 9.3 percent during the same period. Table B. Monthly and annual percent changes in selected price indexes for intermediate goods and crude goods, seasonally adjusted Interm Crude ediate goods goods Change in Change in Intermedi crude ate Exclud goods Excludi goods ing from ng foods 12 months Energy foods from 12 and ago and months ago Month Foods Energy energy (unadj.) Foods (unadj energy (unadj.) .) 1997 July -1.7 -0.9 0.1 -0.3 -0.6 -0.1 -0.5 -7.4 Aug. -0.4 0.6 0 -0.2 -0.4 0.8 1.3 -7.3 Sept. 1.1 0.6 0.1 -0.6 -0.3 4.4 -0.7 -3.9 Oct. -2.4 0.6 -0.1 -0.4 1.1 11.5 -0.1 1.3 Nov. 1.6 0 0.1 -0.2 -0.1 4.6 -0.4 -0.1 Dec. -0.6 -1.5 0 -0.8 0 -13.2 -1.6 -11.3 1998 Jan. -3.6 -2.9 -0.1 -1.7 -3.4 -11.2 -1.9 -19.5 Feb. -0.3 -1.7 -0.1 -1.8 -0.7 -4.3 -0.3 -13.8 Mar. r-1.5 r-2.2 r0 -1.8 r0.3 r-2.9 r-1.4 r-7.6 Apr. r-0.5 r0.7 r-0.1 -1.6 r0.6 r2.9 r-1.3 -7.3 May 0 -0.6 -0.1 -1.6 -1.4 0.6 0.5 -9.2 June -0.4 -1.7 -0.1 -1.9 0.1 -3.9 -0.5 -8.0 July 0.2 0.4 0 -1.7 -2.8 -0.6 -1.8 -9.3 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for March 1998 have been revised to reflect the availability of late reports and corrections by respondents. -3- Finished goods The index for finished energy goods increased 0.3 percent, after declining 1.7 percent in June. Prices for residential electric power moved up 1.1 percent in July, after decreasing 0.9 percent in the previous month. The indexes for residential natural gas and finished lubricants also turned up, after falling in the prior month. Prices for home heating oil fell less than a month ago. By contrast, gasoline prices fell 1.3 percent in July, after showing no change in the previous month. Prices for finished consumer foods increased 0.4 percent in July, following a 0.1-percent rise a month earlier. The index for fresh and dry vegetables turned up 21.3 percent, after falling 9.0 percent in the previous month. Prices for finfish and shellfish and for processed fruits and vegetables also rose, after decreasing in June. The index for beef and veal fell less than in June. Prices for dairy products and processed young chickens increased more than in the prior month. Conversely, pork prices moved down 10.9 percent, after rising 7.0 percent in June. The index for eggs for fresh use also fell after increasing in the previous month. Price increases for processed turkeys slowed from June to July, and roasted coffee prices fell more than a month ago. In July, prices for finished consumer goods other than foods and energy increased 0.3 percent. This increase was led by a 0.8-percent increase in the index for passenger cars and a 1.7-percent advance in prescription drugs. Over the past 12 months, prescription drugs increased 22.3 percent. Nearly three-fourths of that gain was due to a 243.4-percent jump in psychotherapeutic drugs. Prices for prescription drugs, exclusive of psychotherapeutic drugs, rose 6.1 percent in the 12 months ended July 1998. Other noteworthy July price increases occurred for light motor trucks, sanitary papers and health products, men's and boys' apparel, and household appliances. By contrast, prices for girls', children's, and infants' apparel, book publishing, women's apparel, and textile house furnishings declined in July. The index for capital equipment rose 0.1 percent in July, after showing no change in June. Price increases for light motor trucks, communication and related equipment, and pumps and compressors more than offset declining prices for electronic computers, civilian aircraft, and x- ray and electromedical equipment. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components showed no change in July, following a 0.3-percent decline in June. Prices for intermediate energy goods, construction materials, and intermediate foods and feeds turned up, after falling in the prior month. The index for durable manufacturing materials fell less than a month ago. By contrast, prices for nondurable manufacturing materials decreased more than in June. Excluding foods and energy, the index for intermediate materials showed no change, following a 0.1-percent decline a month ago. (See Table B.) The index for intermediate energy materials rose 0.4 percent, after dropping 1.7 percent in June. Prices for commercial electric power turned up 1.2 percent, following a similar decrease in the prior month. The index for jet fuels showed no change, after falling a month ago. Prices for diesel fuel and liquefied petroleum gas fell less than in the previous month. The index for commercial natural gas rose, after falling in June. By contrast, prices for gasoline declined 1.3 percent in July, after showing no change in the prior month. The index for residual fuel fell, after rising a month ago. Prices for natural gas to electric utilities rose less than in the previous month. -4- The index for durable manufacturing materials declined 0.3 percent, following a 0.8-percent drop in June. Price decreases for aluminum, aluminum mill shapes, copper cathode and refined copper, and for hot rolled bars, plates, and structural shapes outweighed price increases for plywood, hot rolled sheet and strip, building paper and board, and cement. The index for intermediate foods and feeds turned up 0.2 percent, after declining 0.4 percent a month ago. Prices for prepared animal feeds rose 1.7 percent, following a 0.2-percent decrease in the prior month. The indexes for flour, crude vegetable oils, and for beef and veal fell less than in June. Prices for natural, processed, and imitation cheese and for mayonnaise, salad dressings and sandwich spreads rose more than in the previous month. By contrast, the index for pork fell 10.9 percent, following a 7.0-percent rise in the prior month. Prices for refined sugar and confectionery materials also turned down, after rising in June. The index for condensed and evaporated milk fell more than in the previous month. The index for materials and components for construction increased 0.2 percent in July, following a 0.1 percent decrease in June. Prices for softwood lumber, plywood, and asphalt felts and coatings also rose, after falling in the prior month. The indexes for gypsum products and cement increased more than in the previous month. Prices for plastic construction products decreased less than in June. By contrast, the index for fabricated structural metal products turned down 0.1 percent, after rising 0.2 percent a month ago. Prices for nonferrous wire and cable, heating equipment, and fabricated ferrous wire products also fell, following price increases in the prior month. The index for wiring devices showed no change, after rising in the previous month. The index for materials for nondurable manufacturing declined 0.4 percent in July, following a 0.1 percent decrease a month ago. Prices for paperboard fell 1.5 percent, after rising 0.3 percent in June. The indexes for basic inorganic chemicals and for inedible fats and oils also turned down, following an increase in the prior month. Prices for fertilizer materials gained less than a month ago, and the index for medicinal and botanical chemicals showed no change, after rising in June. By contrast, prices for basic organic chemicals increased 0.3 percent in July, following a 0.4-percent decrease in the previous month. The index for paint materials also turned up after falling in June, and prices for woodpulp rose faster than a month ago. Crude Goods The Producer Price Index for Crude Materials for Further Processing decreased 1.8 percent in July, seasonally adjusted, following a 1.4-percent decline in June. Prices for crude foodstuffs and feedstuffs turned down after rising in the prior month. The index for basic industrial materials fell more than in the previous month. By contrast, prices for crude energy materials fell less than a month ago. (See table B.) Prices for crude foodstuffs and feedstuffs fell 2.8 percent, following a 0.1-percent increase in June. The index for slaughter hogs dropped 22.8 percent, after a 4.2-percent advance a month earlier. Prices for slaughter cattle and Irish potatoes for processing also turned down after rising in June. The index for slaughter broilers and fryers rose less than last month. On the other hand, the index for corn turned up 0.4 percent, following a 4.9-percent decline in the prior month. Prices for fresh and dry vegetables, soybeans, and for fresh vegetables, except potatoes also rose after falling in the previous month. -5- The index for crude nonfood materials less energy fell 1.8 percent, following a 0.5-percent decline in June. Prices for cattle hides turned down 9.5 percent, after an 18.4-percent advance in the prior month. The indexes for aluminum base scrap and for iron and steel scrap fell more than in the previous month. Prices for hardwood logs turned down 16.3 percent, following a 0.1-percent gain a month ago. By contrast, the index for nonferrous metal ores decreased 1.2 percent, after a 3.7-percent drop in the prior month. Prices for softwood logs, gold ores, and for construction sand, gravel, and crushed stone rose, after falling in the previous month. Prices for crude energy materials fell 0.6 percent in July, following a 3.9-percent drop in June. A 3.3-percent decline in coal and a 2.9- percent decrease in natural gas more than offset a 7.4-percent advance in crude petroleum. Net output price indexes for mining, manufacturing, and other industries Mining. The Producer Price Index for the net output of total domestic mining industries fell 0.6 percent in July, following a 3.8-percent decrease in June. (Net output price indexes are not seasonally adjusted.) Prices for the metal mining industry group fell 0.9 percent, after decreasing 2.8 percent in the prior month. The net output index for natural gas liquids also fell less than in June. Prices for the bituminous coal and lignite industry turned down after rising last month. By contrast, the net output index for crude petroleum rose 7.4 percent, after falling 12.2 percent in the previous month. Prices for the crushed and broken stone industry and the chemical and fertilizer mineral mining industry also turned up after declining in June. In July, the Producer Price Index for the net output of total domestic mining industries stood at 70.7 (December 1984=100), which is 11.1 percent below its year-ago level. Manufacturing. The Producer Price Index for the net output of total domestic manufacturing industries was unchanged in July, after decreasing 0.1 percent in June. Price increases for the lumber and wood products, chemicals and allied products, nonmetallic mineral products, and paper and allied products industry groups more than offset price declines for the petroleum refining and textile mill products industry groups. In July, the Producer Price Index for the net output of total domestic manufacturing industries stood at 126.2 (December 1984=100), which is 0.6 percent below its year-ago level. Other. Among other industries in July, price decreases reported by the real estate agents and managers, telephone communications, offices and clinics of doctors of medicine, and for cable and other pay television services industries, while price increases occurred for the operators of nonresidential buildings, passenger car rental, hotels and motels, and radio broadcasting industries. ***** Producer Price Index data for August 1998 will be released on Friday, September 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. -6- Resampling of Industries Effective with this release, another set of resampled industries is introduced. Twenty-six (26) manufacturing industries, and one (1) service industry were resampled this month. In addition, a new service industry, SIC 6331 Property and casualty insurance, was introduced into the PPI sample for the first time. Indexes for these industries appear in table 5 of the PPI Detailed Report. Under the resampling procedure, the sample for an industry is updated to reflect current conditions more accurately when the structure, membership, technology, or product mix of an industry has shifted significantly. The Bureau of Labor Statistics published the first results of this systematic process in July 1986. Subsequent efforts have been completed at 6-month intervals. Standard Industrial Classification (SIC) Code Industry 2026 Fluid milk 2041 Flour and other grain mill products 2045 Prepared flour mixes and doughs 2066 Chocolate and cocoa products 2099 Food preparations, not elsewhere classified 2391 Curtains and draperies 2452 Prefabricated wood buildings and components 2521 Wood office furniture 2679 Converted paper and paperboard products, not elsewhere classified 2823 Cellulosic manmade fibers 2824 Noncellulosic manmade fibers 2952 Asphalt felts and coatings 3363 Aluminum die casting 3364 Nonferrous die castings, except aluminum 3365 Aluminum foundries 3366 Copper foundries (castings, except die) 3369 Nonferrous castings, except aluminum and copper, and excluding die castings 3429 Hardware, not elsewhere classified 3432 Plumbing fixture fittings and trim 3462 Iron and steel forgings 3463 Nonferrous forgings 3465 Automotive stampings 3469 Metal stampings, not elsewhere classified 3496 Miscellaneous fabricated wire products 3593 Fluid power cylinders and actuators 3645 Residential lighting fixtures 4449 Water transportation of freight, not elsewhere classified 6331* Property and casualty insurance 9331* Premium for property and casualty insurance For information on specific additions, deletions, and recodes of indexes that are effective this month, see tables of sample changes in the July 1997 issue of the PPI Detailed Report. * See "New Producer Price Indexes for Property and Casualty Insurance - SIC 6331 and SIC 9331" in the July 1998 issue of the PPI Detailed Report. 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| |July 1998 from:| | |_______________________|_______________|_______________________________ | Dec. | | | | | | | | | Mar. |June |July | July | June |Apr. to| May to |June to | 1997 1/|1998 2/|1998 2/|1998 2/| 1997 | 1998 | May | June | July _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|____________ | Finished goods...................................| 100.000 130.1 130.6 130.9 -0.3 0.2 0.2 -0.1 0.2 Finished consumer goods........................| 74.755 128.1 128.9 129.4 -.2 .4 .2 -.1 .3 Finished consumer foods......................| 23.199 133.4 133.6 134.6 .4 .7 -.3 .1 .4 Crude......................................| 1.761 130.2 117.2 127.9 10.5 9.1 -6.4 -4.4 7.2 Processed..................................| 21.438 133.7 134.9 135.2 -.1 .2 .2 .4 0 Finished consumer goods, excluding foods.....| 51.556 125.6 126.8 127.0 -.5 .2 .6 -.2 .3 Nondurable goods less foods................| 35.297 120.9 123.0 123.3 -.6 .2 1.1 -.2 .2 Durable goods..............................| 16.259 133.2 132.0 132.0 -.3 0 -.6 0 .2 Capital equipment..............................| 25.245 137.9 137.3 137.2 -.4 -.1 -.2 0 .1 Manufacturing industries.....................| 6.590 137.9 138.0 137.9 .3 -.1 -.1 .1 0 Nonmanufacturing industries..................| 18.655 137.8 136.9 136.9 -.7 0 -.2 -.1 .1 | Intermediate materials, supplies, and components.| 100.000 123.3 123.4 123.4 -1.7 0 -.1 -.3 0 Materials and components for manufacturing.....| 47.584 127.0 126.4 126.1 -1.6 -.2 -.1 -.2 -.2 Materials for food manufacturing.............| 3.500 121.0 122.9 122.6 .2 -.2 1.2 -.6 -.5 Materials for nondurable manufacturing.......| 16.157 128.6 127.7 127.2 -1.6 -.4 -.2 -.1 -.4 Materials for durable manufacturing..........| 10.575 129.8 128.2 127.7 -4.1 -.4 -.6 -.8 -.3 Components for manufacturing.................| 17.352 126.0 125.9 125.9 -.4 0 0 0 0 Materials and components for construction......| 13.519 146.7 146.7 147.0 -.1 .2 0 -.1 .2 Processed fuels and lubricants.................| 13.015 79.6 82.2 82.6 -7.1 .5 -.4 -1.8 .5 Manufacturing industries ....................| 4.844 84.3 87.3 87.7 -4.0 .5 -1.5 -.4 .2 Nonmanufacturing industries..................| 8.171 76.7 79.1 79.5 -8.9 .5 .3 -2.6 .5 Containers.....................................| 3.784 141.6 141.5 141.6 5.6 .1 .1 -.1 .1 Supplies.......................................| 22.098 135.5 134.8 135.0 -.7 .1 0 .1 .1 Manufacturing industries.....................| 4.941 140.4 140.8 140.7 .9 -.1 -.1 0 -.1 Nonmanufacturing industries..................| 17.157 133.1 132.2 132.5 -1.1 .2 0 .2 .2 Feeds......................................| 1.618 107.1 99.2 101.2 -21.4 2.0 -3.0 -.1 1.9 Other supplies.............................| 15.539 136.3 136.3 136.3 1.1 0 .4 .1 .1 | Crude materials for further processing...........| 100.000 99.4 98.5 97.1 -9.3 -1.4 -.3 -1.4 -1.8 Foodstuffs and feedstuffs......................| 42.088 106.3 105.6 103.8 -7.3 -1.7 -1.4 .1 -2.8 Nonfood materials..............................| 57.912 91.0 90.1 88.9 -11.0 -1.3 .4 -2.5 -1.1 Nonfood materials except fuel 3/.............| 33.172 87.5 85.0 85.2 -16.0 .2 .9 -3.9 .6 Manufacturing 3/...........................| 31.843 79.5 77.2 77.5 -16.5 .4 1.0 -3.9 .6 Construction...............................| 1.329 202.7 196.3 192.1 -5.1 -2.1 -.6 -1.6 -.7 Crude fuel 4/................................| 24.740 88.5 89.8 86.9 -1.3 -3.2 -.1 -.8 -3.2 Manufacturing industries...................| 2.039 86.8 87.1 85.0 -1.7 -2.4 .2 -2.4 -2.4 Nonmanufacturing industries................| 22.701 90.2 91.6 88.6 -1.0 -3.3 0 -.8 -3.3 | Special groupings | | Finished goods, excluding foods..................|5/ 76.801 129.0 129.6 129.8 -.5 .2 .3 -.2 .2 Intermediate materials less foods and feeds......|6/ 94.882 123.7 123.9 123.9 -1.4 0 -.2 -.3 0 Intermediate foods and feeds.....................|6/ 5.118 116.9 115.7 116.1 -6.8 .3 0 -.4 .2 Crude materials less agricultural products 3/ 7/.|8/ 55.307 90.1 89.2 87.9 -11.7 -1.5 .3 -2.8 -1.2 | Finished energy goods............................|5/ 13.585 74.2 76.7 76.9 -7.5 .3 .8 -1.7 .3 Finished goods less energy.......................|5/ 86.415 140.7 140.6 141.0 .9 .3 .1 .1 .3 Finished consumer goods less energy..............|5/ 61.170 141.8 141.9 142.4 1.5 .4 .2 .1 .4 | Finished goods less foods and energy.............|5/ 63.216 143.5 143.3 143.4 1.1 .1 .2 .2 .1 Finished consumer goods less foods and energy....|5/ 37.971 147.1 147.2 147.4 2.1 .1 .5 .3 .3 Consumer nondurable goods less foods and energy..|5/ 21.712 157.5 158.8 159.2 3.9 .3 1.5 .4 .3 | Intermediate energy goods........................|6/ 13.123 79.4 81.9 82.3 -7.1 .5 -.6 -1.7 .4 Intermediate materials less energy...............|6/ 86.877 133.1 132.6 132.5 -.9 -.1 -.1 -.1 -.1 Intermediate materials less foods and energy.....|6/ 81.759 134.1 133.7 133.6 -.4 -.1 -.1 -.1 0 | Crude energy materials 3/........................|8/ 36.418 69.6 69.2 68.8 -13.0 -.6 .6 -3.9 -.6 Crude materials less energy......................|8/ 63.582 117.2 116.0 113.8 -7.6 -1.9 -.8 -.1 -2.5 Crude nonfood materials less energy 4/...........|8/ 21.494 149.2 146.8 143.4 -7.8 -2.3 .5 -.5 -1.8 | ____________________________________________________________________________________________________________________________________ 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 March 1998 have been recalculated to incorporate further processing, excluding crude late reports and corrections by respondents. All indexes foodstuffs and feedstuffs, plant and are subject to revision 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 | | |July 1998 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Mar. |June |July | July | June |Apr. to| May to|June to | |1998 1/|1998 1/|1998 1/| 1997 | 1998 | May | June | July ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 130.1 130.6 130.9 -0.3 0.2 0.2 -0.1 0.2 | FINISHED CONSUMER GOODS...............................| 128.1 128.9 129.4 -.2 .4 .2 -.1 .3 | FINISHED CONSUMER FOODS..............................| 133.4 133.6 134.6 .4 .7 -.3 .1 .4 | | 01-11 | Fresh fruits and melons 2/..........................| 86.3 89.6 88.7 6.5 -1.0 2.3 -1.1 -1.0 01-13 | Fresh and dry vegetables 2/.........................| 156.9 120.9 146.6 30.8 21.3 -20.9 -9.0 21.3 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 98.6 86.9 80.8 -16.4 -7.0 -.5 20.3 -9.8 02-11 | Bakery products 2/..................................| 175.1 175.7 175.6 1.0 -.1 .1 -.1 -.1 02-13 | Milled rice 2/......................................| 123.9 124.0 123.8 -2.1 -.2 -.2 1.5 -.2 02-14-02 | Pasta products (June 1985=100) 2/...................| 121.6 122.1 122.1 -1.2 0 0 .4 0 02-21-01 | Beef and veal.......................................| 98.4 99.9 99.5 -1.4 -.4 3.4 -2.6 -.1 02-21-04 | Pork................................................| 93.0 111.2 100.8 -23.5 -9.4 4.2 7.0 -10.9 02-22-03 | Processed young chickens............................| 119.3 123.8 132.7 10.7 7.2 -1.4 3.2 5.3 02-22-06 | Processed turkeys...................................| 90.9 92.3 94.2 -8.0 2.1 -5.0 3.4 1.2 02-23 | Finfish and shellfish...............................| 187.2 178.3 180.0 6.3 1.0 4.9 -3.7 1.1 02-3 | Dairy products......................................| 132.2 132.8 135.3 8.7 1.9 .4 .6 1.3 02-4 | Processed fruits and vegetables 2/..................| 125.2 125.8 126.4 .2 .5 .6 -.2 .5 02-55 | Confectionery end products 2/.......................| 167.9 168.4 168.8 .1 .2 .2 .1 .2 02-62 | Soft drinks.........................................| 135.2 134.5 134.7 1.1 .1 -.3 .5 .4 02-63-01 | Roasted coffee 2/...................................| 150.5 147.0 143.5 -14.2 -2.4 -1.1 -1.9 -2.4 02-76 | Shortening and cooking oils 2/......................| 140.0 141.8 141.5 3.7 -.2 .4 -.8 -.2 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 125.6 126.8 127.0 -.5 .2 .6 -.2 .3 | | 02-61 | Alcoholic beverages.................................| 135.0 134.9 134.9 -.6 0 -.3 .4 0 03-81-01 | Women's apparel 2/..................................| 121.9 121.4 121.1 .6 -.2 .2 -.1 -.2 03-81-02 | Men's and boys' apparel.............................| 132.9 133.0 133.6 .6 .5 .2 .1 .5 03-81-03 | Girls', children's, and infants' apparel 2/.........| 122.4 121.9 116.4 -5.1 -4.5 -.8 0 -4.5 03-82 | Textile housefurnishings 2/.........................| 123.1 123.3 122.8 .5 -.4 .2 0 -.4 04-3 | Footwear............................................| 144.7 144.7 144.4 .2 -.2 -.1 .3 -.2 05-41 | Residential electric power (Dec. 1990=100)..........| 108.3 113.6 115.2 -1.5 1.4 0 -.9 1.1 05-51 | Residential gas (Dec. 1990=100).....................| 114.2 110.9 112.6 -1.0 1.5 -.5 -2.8 .4 05-71 | Gasoline............................................| 51.7 57.3 55.5 -19.9 -3.1 4.3 0 -1.3 05-73-02-01| Fuel oil No. 2......................................| 49.7 46.5 45.5 -22.6 -2.2 -1.1 -8.1 -1.0 06-35 | Pharmaceutical preps, ethical (Prescription)........| 324.7 328.8 334.5 22.3 1.7 10.7 3.2 1.7 06-36 | Pharmaceutical preps,proprietary (Over-counter).....| 184.0 184.5 184.7 .3 .1 .2 .4 .2 06-71 | Soaps and synthetic detergents 2/...................| 126.3 126.0 126.2 -.1 .2 -.1 -.1 .2 06-75 | Cosmetics and other toilet preparations 2/..........| 132.1 133.6 133.7 2.5 .1 -.4 .9 .1 07-12 | Tires, tubes, tread, etc 2/.........................| 94.5 94.2 94.0 -.8 -.2 -.2 .4 -.2 09-15-01 | Sanitary papers and health products 2/..............| 145.2 143.9 147.0 .1 2.2 -.3 -.4 2.2 09-31-01 | Newspaper circulation 2/............................| 202.5 202.7 202.7 .4 0 0 .1 0 09-32-01 | Periodical circulation..............................| 192.9 193.6 193.6 3.1 0 1.6 .3 .1 09-33 | Book publishing 2/..................................| 202.8 205.2 203.5 2.0 -.8 1.1 0 -.8 12-1 | Household furniture 2/..............................| 147.8 148.0 148.1 1.2 .1 .1 0 .1 12-3 | Floor coverings 2/..................................| 128.6 127.7 127.7 -.6 0 0 -.5 0 12-4 | Household appliances 2/.............................| 108.8 108.7 109.2 -.7 .5 .1 .5 .5 12-5 | Home electronic equipment 2/........................| 76.8 76.8 76.8 1.1 0 1.9 0 0 12-62 | Household glassware 2/..............................| 162.8 163.2 163.0 .7 -.1 .1 0 -.1 12-64 | Household flatware 2/...............................| 139.0 139.1 138.3 .4 -.6 1.0 -.9 -.6 12-66 | Lawn and garden equip., ex. tractors 2/.............| 131.5 131.6 131.5 -.5 -.1 .2 .1 -.1 14-11-01 | Passenger cars......................................| 133.2 129.9 130.1 -.1 .2 -1.7 .3 .8 15-11 | Toys, games, and children's vehicles................| 124.4 124.5 124.2 -.7 -.2 .2 .1 -.1 15-12 | Sporting and athletic goods 2/......................| 126.1 126.1 126.3 1.1 .2 .1 .1 .2 15-2 | Tobacco products 2/.................................| 262.0 278.7 278.7 12.2 0 2.8 .1 0 15-5 | Mobile homes 2/.....................................| 153.1 154.0 154.0 .9 0 .3 .1 0 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 127.8 127.8 127.8 -.6 0 -.1 -.1 0 15-94-04 | Costume jewelry and novelties 2/....................| 139.5 139.5 139.5 -.5 0 .5 -.1 0 | | | CAPITAL EQUIPMENT.....................................| 137.9 137.3 137.2 -.4 -.1 -.2 0 .1 | | 11-1 | Agricultural machinery and equipment 2/.............| 150.4 148.8 148.9 0 .1 -.3 .1 .1 11-2 | Construction machinery and equipment................| 145.0 145.3 145.3 2.3 0 .3 .1 .1 11-37 | Metal cutting machine tools 2/......................| 159.9 159.8 159.8 3.0 0 .1 -.2 0 11-38 | Metal forming machine tools 2/......................| 157.4 157.5 158.1 2.2 .4 .1 -.1 .4 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 138.8 138.8 138.6 .1 -.1 0 0 -.1 11-41 | Pumps, compressors, and equipment...................| 148.7 149.1 149.0 1.6 -.1 .3 .2 .3 11-44 | Industrial material handling equipment 2/...........| 130.8 131.1 131.2 1.0 .1 0 .1 .1 11-51 | Electronic computers (Dec. 1990=100) 2/.............| 26.8 24.9 24.5 -24.6 -1.6 -2.7 -1.2 -1.6 11-62 | Textile machinery 2/................................| 153.1 153.1 153.1 .5 0 0 0 0 11-64 | Paper industries machinery (June 1982=100)..........| 159.4 160.0 160.1 1.7 .1 -.4 .1 .1 11-65 | Printing trades machinery 2/........................| 139.4 143.3 143.3 3.5 0 .1 2.1 0 11-74 | Transformers and power regulators 2/................| 130.0 131.0 130.6 .6 -.3 .8 -.1 -.3 11-76 | Communication & related equip. (Dec. 1985=100) 2/...| 114.6 114.4 114.6 .2 .2 -.2 -.2 .2 11-79-05 | X-ray and electromedical equipment 2/...............| 107.4 107.0 106.4 -.8 -.6 .1 -.4 -.6 11-91 | Oil field and gas field machinery 2/................| 125.7 125.7 125.8 2.4 .1 .1 -.1 .1 11-92 | Mining machinery and equipment 2/...................| 142.7 142.3 142.2 1.1 -.1 -.4 0 -.1 11-93 | Office and store machines and equipment 2/..........| 112.5 112.6 112.7 .2 .1 0 .1 .1 12-2 | Commercial furniture 2/.............................| 155.2 155.1 155.0 .2 -.1 .3 -.2 -.1 14-11-05 | Light motor trucks..................................| 156.0 152.3 152.0 -2.4 -.2 -1.5 -.5 .7 14-11-06 | Heavy motor trucks 2/...............................| 141.0 142.3 142.5 -.3 .1 .4 .2 .1 14-14 | Truck trailers 2/...................................| 135.0 135.7 135.6 4.5 -.1 .2 .2 -.1 14-21-02 | Civilian aircraft (Dec. 1985=100)...................| 150.1 150.4 150.4 -.1 0 .2 -.1 -.1 14-31 | Ships (Dec. 1985=100) 2/............................| 145.6 145.7 145.8 1.9 .1 -.1 0 .1 14-4 | Railroad equipment..................................| 134.5 135.1 135.3 1.1 .1 .1 .2 .2 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 123.3 123.4 123.4 -1.7 0 -.1 -.3 0 | | | INTERMEDIATE FOODS AND FEEDS..........................| 116.9 115.7 116.1 -6.8 .3 0 -.4 .2 | | 02-12-03 | Flour 2/............................................| 114.2 109.0 107.8 -6.3 -1.1 -.7 -2.8 -1.1 02-53 | Refined sugar 2/....................................| 120.7 122.3 120.3 -2.4 -1.6 -.2 1.2 -1.6 02-54 | Confectionery materials.............................| 96.5 93.4 93.3 -13.6 -.1 .1 .1 -.5 02-72 | Crude vegetable oils 2/.............................| 134.9 130.6 126.3 11.9 -3.3 3.5 -8.9 -3.3 02-9 | Prepared animal feeds 2/............................| 113.8 107.0 108.8 -17.9 1.7 -2.4 -.2 1.7 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 123.7 123.9 123.9 -1.4 0 -.2 -.3 0 | | 03-1 | Synthetic fibers 2/.................................| 110.9 111.0 111.0 .1 0 .3 -.1 0 03-2 | Processed yarns and threads 2/......................| 113.3 113.3 113.1 -.4 -.2 -1.0 -.1 -.2 03-3 | Gray fabrics 2/.....................................| 123.0 122.8 121.6 -.2 -1.0 -.4 -.2 -1.0 03-4 | Finished fabrics....................................| 124.5 124.9 124.4 .4 -.4 0 0 -.5 03-83-03 | Industrial textile products 2/......................| 130.2 130.7 130.6 2.3 -.1 -.1 -.2 -.1 04-2 | Leather.............................................| 178.9 177.0 179.1 -.3 1.2 -1.5 1.7 1.3 05-32 | Liquefied petroleum gas 2/..........................| 66.0 58.2 56.5 -22.6 -2.9 1.4 -8.1 -2.9 ____________________________________________________________________________________________________________________________________ See footnotes at end of table. Table 2. Producer Price Indexes and percent changes for selected commodity groupings by stage of processing - Continued (1982=100 unless otherwise indicated) ____________________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | | Unadjusted index |change to |percent change from: Commodity | | |July 1998 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Mar. |June |July | July | June |Apr. to| May to|June to | |1998 1/|1998 1/|1998 1/| 1997 | 1998 | May | June | July ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 125.7 134.1 136.5 -1.9 1.8 -0.9 -1.2 1.2 05-43 | Industrial electric power...........................| 126.7 132.9 134.3 -1.2 1.1 -1.5 .2 .5 05-52 | Commercial natural gas (Dec. 1990=100)..............| 108.1 102.1 103.9 -.6 1.8 3.0 -3.3 1.6 05-53 | Industrial natural gas (Dec. 1990=100)..............| 106.6 99.9 100.6 .2 .7 2.7 -2.6 1.6 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 86.8 75.4 74.6 -15.8 -1.1 2.7 4.6 .3 05-72-03 | Jet fuels...........................................| 47.2 43.3 43.1 -25.2 -.5 -.2 -9.3 0 05-73-03 | No. 2 Diesel fuel...................................| 47.6 45.0 44.1 -23.6 -2.0 .6 -9.6 -1.1 05-74 | Residual fuel 2/....................................| 42.6 45.2 44.3 -16.6 -2.0 -15.1 4.4 -2.0 06-1 | Industrial chemicals 2/.............................| 123.1 121.7 121.8 -3.2 .1 -.5 -.2 .1 06-21 | Prepared paint......................................| 154.6 155.0 155.3 1.9 .2 .2 .1 .2 06-22 | Paint materials 2/..................................| 143.7 143.5 144.1 1.6 .4 .1 -.1 .4 06-31 | Medicinal and botanical chemicals 2/................| 135.2 135.2 135.2 1.3 0 -1.3 1.4 0 06-4 | Fats and oils, inedible 2/..........................| 115.4 130.8 114.4 -8.0 -12.5 12.3 4.4 -12.5 06-51 | Mixed fertilizers...................................| 116.8 115.6 115.8 1.8 .2 -.4 .5 .9 06-52-01 | Nitrogenates........................................| 114.2 113.5 110.9 -14.8 -2.3 3.0 3.5 1.6 06-52-02 | Phosphates 2/.......................................| 110.4 113.3 113.3 3.8 0 1.3 .9 0 06-53 | Other agricultural chemicals........................| 150.2 149.5 149.4 .8 -.1 -.3 .5 -.2 06-6 | Plastic resins and materials 2/.....................| 131.0 127.7 125.6 -9.8 -1.6 -.5 -1.3 -1.6 07-11-02 | Synthetic rubber 2/.................................| 117.7 117.4 117.2 -.3 -.2 .4 -.1 -.2 07-21 | Plastic construction products 2/....................| 127.3 126.1 125.4 -2.6 -.6 .8 -1.2 -.6 07-22 | Unsupported plastic film, sheet, & other shapes.....| 128.5 128.3 127.7 -3.3 -.5 .3 -.8 -.5 07-26 | Plastic parts and components for manufacturing 2/...| 117.3 117.0 116.9 -.2 -.1 -.1 -.2 -.1 08-11 | Softwood lumber 2/..................................| 193.7 176.7 181.2 -14.8 2.5 -3.2 -5.7 2.5 08-12 | Hardwood lumber 2/..................................| 179.8 179.4 179.1 2.3 -.2 -.5 .3 -.2 08-2 | Millwork 2/.........................................| 170.9 171.2 170.9 -.3 -.2 .2 0 -.2 08-3 | Plywood 2/..........................................| 151.3 150.5 157.0 -3.4 4.3 -.5 -.7 4.3 09-11 | Woodpulp 2/.........................................| 126.4 124.1 129.3 -.5 4.2 .1 1.0 4.2 09-13 | Paper...............................................| 147.6 145.8 145.4 .7 -.3 -.6 -.3 -.5 09-14 | Paperboard..........................................| 156.0 153.5 151.9 10.2 -1.0 .1 .3 -1.5 09-15-03 | Paper boxes and containers 2/.......................| 155.5 156.1 156.1 10.3 0 .4 -.1 0 09-2 | Building paper and board 2/.........................| 128.2 131.3 133.8 5.0 1.9 1.1 -.2 1.9 09-37 | Commercial printing (June 1982=100) 2/..............| 151.1 152.2 152.2 2.6 0 -.2 .1 0 10-15 | Foundry and forge shop products.....................| 135.0 135.1 135.2 .6 .1 .1 .1 .1 10-17 | Steel mill products 2/..............................| 115.5 114.8 114.9 -1.5 .1 -.4 .1 .1 10-22 | Primary nonferrous metals 2/........................| 111.3 107.7 104.0 -18.0 -3.4 -2.3 -2.0 -3.4 10-25-01 | Aluminum mill shapes 2/.............................| 145.3 141.0 139.1 -5.6 -1.3 0 -2.2 -1.3 10-25-02 | Copper and brass mill shapes 2/.....................| 157.4 152.3 150.3 -17.0 -1.3 -2.1 -2.8 -1.3 10-26 | Nonferrous wire and cable 2/........................| 142.5 141.7 141.4 -5.4 -.2 -1.0 .3 -.2 10-3 | Metal containers 2/.................................| 109.3 108.6 108.5 .8 -.1 -.2 -.3 -.1 10-4 | Hardware............................................| 146.8 147.0 147.2 1.4 .1 .1 0 .4 10-5 | Plumbing fixtures and brass fittings................| 175.7 175.7 175.4 .3 -.2 .2 -.2 .2 10-6 | Heating equipment...................................| 153.1 153.8 153.2 .3 -.4 0 .3 -.4 10-7 | Fabricated structural metal products................| 141.6 143.2 143.0 1.7 -.1 .6 .2 -.1 10-88 | Fabricated ferrous wire products (June 1982=100) 2/.| 129.8 130.5 130.4 1.6 -.1 .3 .2 -.1 10-89 | Other misc. metal products 2/.......................| 126.4 126.4 126.4 .2 0 .1 -.2 0 11-45 | Mechanical power transmission equipment.............| 157.2 157.6 157.5 1.7 -.1 .3 .1 .1 11-48 | Air conditioning and refrigeration equipment........| 133.2 133.7 133.7 .8 0 .4 0 0 11-49-02 | Metal valves, ex.fluid power (Dec. 1982=100) 2/.....| 155.7 156.5 156.6 1.6 .1 0 .1 .1 11-49-05 | Ball and roller bearings............................| 164.9 165.1 165.2 1.0 .1 .1 .5 0 11-71 | Wiring devices......................................| 154.8 155.1 154.9 .3 -.1 -.3 .7 0 11-73 | Motors, generators, motor generator sets............| 145.4 145.5 145.2 .6 -.2 .1 0 -.3 11-75 | Switchgear, switchboard, etc., equipment............| 147.9 147.9 147.9 1.5 0 -.1 .5 .1 11-78 | Electronic components and accessories 2/............| 100.7 100.4 100.3 -3.9 -.1 0 -.2 -.1 11-94 | Internal combustion engines.........................| 140.4 140.3 141.1 .6 .6 .1 .1 .2 11-95 | Machine shop products 2/............................| 135.9 136.5 136.8 1.1 .2 -.1 .6 .2 13-11 | Flat glass 2/.......................................| 107.0 107.1 107.9 -.2 .7 -.3 .1 .7 13-22 | Cement..............................................| 141.2 146.4 147.8 5.3 1.0 -.1 .7 1.2 13-3 | Concrete products...................................| 137.6 141.0 141.4 3.8 .3 .8 .9 .2 13-6 | Asphalt felts and coatings 2/.......................| 98.4 99.4 99.7 -.6 .3 .4 -.2 .3 13-7 | Gypsum products 2/..................................| 173.3 175.8 179.9 6.2 2.3 1.0 1.1 2.3 13-8 | Glass containers 2/.................................| 125.9 124.6 125.5 0 .7 0 -1.0 .7 14-12 | Motor vehicle parts 2/..............................| 114.9 114.4 114.5 -.6 .1 -.1 -.1 .1 14-23 | Aircraft engines & engine parts (Dec. 1985=100).....| 137.2 137.7 137.7 1.8 0 0 .4 .2 14-25 | Aircraft parts & aux.equip.,nec (June 1985=100) 2/..| 141.9 141.3 141.7 .6 .3 .1 0 .3 15-42 | Photographic supplies 2/............................| 129.0 129.0 129.0 -.7 0 0 0 0 15-6 | Medical/surgical/personal aid devices...............| 143.4 142.8 143.1 -.2 .2 -.4 -.3 .2 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 99.4 98.5 97.1 -9.3 -1.4 -.3 -1.4 -1.8 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 106.3 105.6 103.8 -7.3 -1.7 -1.4 .1 -2.8 | | 01-21 | Wheat 2/............................................| 97.5 84.5 83.9 -15.0 -.7 -.3 -8.5 -.7 01-22-02-05| Corn................................................| 109.2 92.4 89.8 -15.3 -2.8 -4.2 -4.9 .4 01-31 | Slaughter cattle....................................| 95.1 96.4 89.6 -7.1 -7.1 1.0 .7 -7.1 01-32 | Slaughter hogs......................................| 56.7 70.6 57.2 -42.9 -19.0 7.8 4.2 -22.8 01-41-02 | Slaughter broilers/fryers...........................| 134.7 152.8 172.1 10.4 12.6 -6.8 6.8 4.4 01-42 | Slaughter turkeys...................................| 95.7 103.0 109.6 -9.1 6.4 -3.8 2.2 3.8 01-6 | Fluid milk..........................................| 103.0 100.5 107.0 18.1 6.5 -6.5 3.2 5.4 01-83-01-31| Soybeans 2/.........................................| 113.3 104.8 109.6 -20.1 4.6 2.2 -4.9 4.6 02-52-01-01| Cane sugar,raw 2/...................................| 115.8 118.1 119.3 1.4 1.0 .3 .1 1.0 | | | CRUDE NONFOOD MATERIALS..............................| 91.0 90.1 88.9 -11.0 -1.3 .4 -2.5 -1.1 | | 01-51-01-01| Raw cotton..........................................| 110.1 118.7 121.8 2.0 2.6 9.9 7.5 7.7 01-92-01-01| Leaf tobacco 2/.....................................| 106.7 (3) (3) (3) (3) (3) (3) (3) 04-11 | Cattle hides 2/.....................................| 145.8 179.4 162.3 -9.9 -9.5 -.5 18.4 -9.5 05-1 | Coal 2/.............................................| 93.5 96.7 93.5 -1.5 -3.3 .7 4.7 -3.3 05-31 | Natural gas 2/......................................| 86.4 86.6 84.1 -2.0 -2.9 .4 -3.5 -2.9 05-61 | Crude petroleum 2/..................................| 35.8 33.6 36.1 -34.2 7.4 .3 -12.3 7.4 08-5 | Logs, timber, etc...................................| 217.0 209.2 203.4 -5.6 -2.8 -.8 -1.6 -1.2 09-12 | Wastepaper 2/.......................................| 162.4 147.9 147.2 -11.0 -.5 -2.0 -1.5 -.5 10-11 | Iron ore 2/.........................................| 95.2 95.9 95.6 .4 -.3 .7 0 -.3 10-12 | Iron and steel scrap 2/.............................| 186.4 182.0 175.5 -7.3 -3.6 .5 -1.1 -3.6 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 68.3 67.3 66.5 -19.4 -1.2 .1 -3.7 -1.2 10-23-01 | Copper base scrap 2/................................| 123.6 122.9 114.4 -29.3 -6.9 -.2 -4.3 -6.9 10-23-02 | Aluminum base scrap.................................| 181.6 165.0 149.3 -22.8 -9.5 -.8 -3.7 -9.0 13-21 | Construction sand, gravel, and crushed stone........| 151.2 152.5 153.4 3.2 .6 .5 -.1 .6 ____________________________________________________________________________________________________________________________________ 1/ The indexes for March 1998 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 |March 1998 | June 1998 | July 1998 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 365.1 | 366.5 | 367.5 | | All commodities................................| 124.7 | 124.8 | 124.8 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 123.2 | 122.8 | 122.9 | 01 | Farm products................................| 107.4 | 105.2 | 105.0 | 02 | Processed foods and feeds....................| 130.9 | 131.5 | 131.8 | | | | | | | Industrial commodities.........................| 125.0 | 125.2 | 125.1 | 03 | Textile products and apparel.................| 123.1 | 123.2 | 122.8 | 04 | Hides, skins, leather, and related products..| 147.1 | 151.4 | 149.4 | 05 | Fuels and related products and power 2/......| 74.6 | 76.5 | 76.5 | 06 | Chemicals and allied products 2/.............| 145.3 | 144.9 | 145.0 | 07 | Rubber and plastic products..................| 123.0 | 122.7 | 122.5 | 08 | Lumber and wood products.....................| 182.4 | 177.4 | 177.9 | 09 | Pulp, paper, and allied products.............| 172.1 | 172.0 | 172.0 | 10 | Metals and metal products....................| 129.5 | 128.7 | 127.9 | 11 | Machinery and equipment......................| 125.3 | 125.1 | 125.0 | 12 | Furniture and household durables.............| 131.2 | 131.2 | 131.3 | 13 | Nonmetallic mineral products.................| 133.9 | 135.4 | 136.1 | 14 | Transportation equipment.....................| 141.5 | 140.3 | 140.3 | 15 | Miscellaneous products.......................| 153.5 | 155.4 | 155.7 | | | | | | | Industrial commodities less fuels and related | | | | | products and power...........................| 139.5 | 139.1 | 139.0 | | | | | | | | | | | | OTHER COMMODITY GROUPINGS | | | | | | | | | 01-1 | Fruits and melons, fresh and dry vegetables, | | | | | and tree nuts................................| 121.7 | 109.4 | 119.0 | 01-2 | Grains.........................................| 107.2 | 93.8 | 91.4 | 01-3 | Slaughter livestock............................| 85.4 | 90.7 | 81.8 | 01-4 | Slaughter poultry..............................| 125.3 | 140.5 | 156.7 | 01-5 | Plant and animal fibers........................| 110.1 | 117.9 | 120.9 | 01-7 | Chicken eggs...................................| 118.5 | 100.7 | 95.2 | 01-8 | Hay, hayseeds, and oilseeds....................| 135.9 | 127.3 | 130.3 | 01-83 | Oilseeds.......................................| 123.4 | 115.9 | 120.5 | 01-9 | Other farm products............................| 159.1 | 'N.A.' | 'N.A.' | 02-1 | Cereal and bakery products.....................| 157.8 | 157.2 | 157.2 | 02-2 | Meats, poultry, and fish.......................| 111.5 | 115.4 | 114.9 | 02-22 | Processed poultry..............................| 116.8 | 119.6 | 124.9 | 02-5 | Sugar and confectionery........................| 134.7 | 134.7 | 134.6 | 02-6 | Beverages and beverage materials...............| 138.0 | 137.4 | 137.2 | 02-63 | Packaged beverage materials....................| 146.0 | 143.1 | 140.1 | 02-7 | Fats and oils..................................| 138.6 | 140.6 | 138.2 | 03-81 | Apparel........................................| 126.4 | 126.3 | 126.0 | 04-4 | Other leather and related products.............| 144.9 | 145.0 | 145.1 | 05-3 | Gas fuels 2/...................................| 80.0 | 78.1 | 75.9 | 05-4 | Electric power.................................| 126.4 | 133.1 | 135.1 | 05-7 | Refined petroleum products.....................| 50.6 | 52.7 | 51.6 | 06-3 | Drugs and pharmaceuticals......................| 243.3 | 244.8 | 247.5 | 06-5 | Agricultural chemicals and products............| 130.0 | 130.3 | 129.7 | 06-7 | Other chemicals and allied products............| 134.1 | 134.9 | 134.9 | 07-1 | Rubber and rubber products.....................| 115.5 | 115.5 | 115.2 | 07-11 | Rubber, except natural rubber..................| 117.1 | 116.8 | 116.6 | 07-13 | Miscellaneous rubber products..................| 138.5 | 138.8 | 138.5 | 07-2 | Plastic products...............................| 129.7 | 129.4 | 129.2 | 08-1 | Lumber.........................................| 187.4 | 175.5 | 178.5 | 09-1 | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 149.1 | 147.8 | 148.1 | 09-15 | Converted paper and paperboard products........| 152.8 | 152.6 | 153.5 | 10-1 | Iron and steel.................................| 125.7 | 124.8 | 124.2 | 10-2 | Nonferrous metals..............................| 126.8 | 123.8 | 121.1 | 10-25 | Nonferrous mill shapes.........................| 139.6 | 135.8 | 134.1 | 11-3 | Metalworking machinery and equipment...........| 147.2 | 147.2 | 147.3 | 11-4 | General purpose machinery and equipment........| 146.5 | 146.9 | 147.0 | 11-6 | Special industry machinery.....................| 158.4 | 159.2 | 159.4 | 11-7 | Electrical machinery and equipment.............| 121.5 | 121.4 | 121.3 | 11-9 | Miscellaneous machinery and equipment..........| 131.6 | 131.8 | 132.2 | 12-6 | Other household durable goods..................| 151.0 | 151.3 | 151.4 | 13-2 | Concrete ingredients...........................| 145.0 | 147.7 | 148.8 | 14-1 | Motor vehicles and equipment...................| 132.0 | 130.1 | 130.1 | 15-1 | Toys, sporting goods, small arms, etc..........| 132.3 | 132.4 | 132.5 | 15-4 | Photographic equipment and supplies............| 115.5 | 115.3 | 115.4 | 15-9 | Other miscellaneous products...................| 134.9 | 134.5 | 134.7 | __________________________________________________________|___________|___________|___________| 1/ Data for March 1998 have been revised to reflect the availability of late reports and corrections by respondents. All data are subject to revision 4 months after original publication. 2/ Prices of some items in this grouping are lagged 1 month. Table 4. Producer price indexes for the net output of major industry groups, not seasonally adjusted ____________________________________________________________________________________________________________________ | | | Index | Percent change Industry | Industry 1/ |Index|_______________________|to_July_1998_from:__ code | |base | | | | | | | |Mar. |June |July | July | June | | |1998 2/|1998 2/|1998 2/| 1997 | 1998 __________________|______________________________________________|_____|_______|_______|_______|________|___________ | | | |Total mining industries...................... |12/84| 72.2 71.1 70.7 -11.1 -0.6 10 | Metal mining................................ |12/84| 74.6 74.0 73.3 -14.5 -.9 12 | Coal mining................................. |12/85| 89.7 91.8 89.5 -2.2 -2.5 13 | Oil and gas extraction...................... |12/85| 70.2 68.3 68.3 -13.3 0 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 131.4 131.9 132.4 2.5 .4 | | | |Total manufacturing industries............... |12/84| 125.9 126.2 126.2 -.6 0 20 | Food and kindred products................... |12/84| 125.5 126.3 126.6 -1.1 .2 21 | Tobacco manufactures........................ |12/84| 223.7 238.0 238.0 13.7 0 22 | Textile mill products....................... |12/84| 119.2 119.1 118.8 0 -.3 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 124.5 124.7 124.9 1.2 .2 24 | Lumber and wood products, except furniture.. |12/84| 158.2 155.5 156.6 -2.2 .7 25 | Furniture and fixtures...................... |12/84| 139.4 139.4 139.5 .7 .1 26 | Paper and allied products................... |12/84| 137.5 136.7 137.1 3.9 .3 27 | Printing, publishing, and allied industries. |12/84| 173.1 173.8 173.5 2.8 -.2 28 | Chemicals and allied products............... |12/84| 149.2 148.9 149.9 1.9 .7 29 | Petroleum refining and related products..... |12/84| 65.6 67.8 66.3 -18.5 -2.2 30 | Rubber and miscellaneous plastic products... |12/84| 122.5 122.2 122.0 -.8 -.2 31 | Leather and leather products................ |12/84| 137.4 137.2 137.2 .2 0 32 | Stone, clay, glass, and concrete products... |12/84| 127.9 129.3 129.9 2.0 .5 33 | Primary metal industries.................... |12/84| 122.7 121.6 121.0 -3.4 -.5 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 128.5 128.9 128.9 .9 0 35 | Machinery, except electrical................ |12/84| 117.9 117.7 117.5 -.8 -.2 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 110.7 110.5 110.6 -1.0 .1 37 | Transportation equipment.................... |12/84| 133.9 132.7 132.8 0 .1 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 126.1 126.2 126.5 .6 .2 39 | Miscellaneous manufacturing industries...... |12/85| 129.7 129.6 129.8 .6 .2 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 101.6 101.9 101.8 1.1 -.1 42 | Motor freight transportation and warehousing |06/93| 110.7 111.4 111.8 2.5 .4 43 | United states postal service................ |06/89| 132.3 132.3 132.3 0 0 44 | Water transportation........................ |12/92| 102.3 103.0 104.3 -.1 1.3 45 | Transportation by air....................... |12/92| 123.7 124.8 124.7 -1.4 -.1 46 | Pipe lines, except natural gas.............. |12/86| 99.3 99.4 99.2 .5 -.2 80 | Health services............................. |12/94| 107.3 107.5 107.6 1.3 .1 81 | Legal services.............................. |12/96| 105.9 106.2 106.2 3.8 0 ____________________________________________________________________________________________________________________ 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 Mar. 1998 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 | | | | | | | Feb | Mar. | Apr. | May | June | July | 1998 | 1998 | 1998 | 1998 | 1998 | 1998 _______________________________________________________|_________|________|________|________|________|__________ Finished goods...................................| 130.5 130.4 130.3 130.5 130.4 130.7 Finished consumer goods........................| 128.6 128.5 128.4 128.7 128.6 129.0 Finished consumer foods......................| 134.1 133.7 134.2 133.8 133.9 134.5 Crude......................................| 131.2 131.3 132.7 124.2 118.7 127.3 Processed..................................| 134.3 133.9 134.3 134.6 135.1 135.1 Finished consumer goods, excluding foods.....| 126.1 126.1 125.7 126.4 126.1 126.5 Nondurable goods less foods................| 121.7 121.7 121.1 122.4 122.1 122.4 Durable goods..............................| 132.9 132.8 133.0 132.2 132.2 132.5 Capital equipment..............................| 137.6 137.7 137.7 137.4 137.4 137.5 Manufacturing industries.....................| 137.8 137.9 137.9 137.8 138.0 138.0 Nonmanufacturing industries..................| 137.5 137.6 137.5 137.2 137.1 137.2 | Intermediate materials, supplies, and components.| 124.1 123.6 123.6 123.5 123.1 123.1 Materials and components for manufacturing.....| 127.2 126.9 126.9 126.8 126.5 126.2 Materials for food manufacturing.............| 122.0 121.3 122.4 123.9 123.2 122.6 Materials for nondurable manufacturing.......| 129.0 128.5 128.3 128.0 127.9 127.4 Materials for durable manufacturing..........| 130.3 129.7 129.9 129.1 128.1 127.7 Components for manufacturing.................| 125.9 125.9 125.9 125.9 125.9 125.9 Materials and components for construction......| 146.4 146.6 146.9 146.9 146.7 147.0 Processed fuels and lubricants.................| 83.4 81.6 82.0 81.7 80.2 80.6 Manufacturing industries ....................| 87.4 85.9 86.8 85.5 85.2 85.4 Nonmanufacturing industries..................| 80.9 78.8 79.1 79.3 77.2 77.6 Containers.....................................| 141.8 141.6 141.7 141.8 141.6 141.7 Supplies.......................................| 135.2 135.4 134.7 134.7 134.8 135.0 Manufacturing industries.....................| 140.4 140.4 141.0 140.8 140.8 140.7 Nonmanufacturing industries..................| 132.8 133.0 132.0 132.0 132.2 132.5 Feeds......................................| 111.1 106.9 102.5 99.4 99.3 101.2 Other supplies.............................| 135.5 136.2 135.6 136.1 136.2 136.3 | Crude materials for further processing...........| 100.4 99.2 100.1 99.8 98.4 96.6 Foodstuffs and feedstuffs......................| 106.1 106.4 107.0 105.5 105.6 102.6 Nonfood materials..............................| 92.8 90.7 91.8 92.2 89.9 88.9 Nonfood materials except fuel 2/.............| 92.7 87.1 87.3 88.1 84.7 85.2 Manufacturing 2/...........................| 84.5 79.1 79.3 80.1 77.0 77.5 Construction...............................| 199.2 199.9 200.1 198.8 195.6 194.2 Crude fuel 3/................................| 85.5 88.5 90.6 90.5 89.8 86.9 Manufacturing industries...................| 83.4 86.8 89.0 89.2 87.1 85.0 Nonmanufacturing industries................| 87.3 90.2 92.3 92.3 91.6 88.6 | Special groupings | | Finished goods, excluding foods..................| 129.3 129.3 129.0 129.4 129.2 129.5 Intermediate materials less foods and feeds......| 124.4 124.0 124.1 123.9 123.5 123.5 Intermediate foods and feeds.....................| 118.8 117.0 116.4 116.4 115.9 116.1 Crude materials less agricultural products 2/....| 91.9 89.9 91.4 91.7 89.1 88.0 | Finished energy goods............................| 77.5 75.7 75.8 76.4 75.1 75.3 Finished goods less energy.......................| 140.2 140.6 140.4 140.6 140.7 141.1 Finished consumer goods less energy..............| 141.2 141.7 141.5 141.8 142.0 142.5 | Finished goods less foods and energy.............| 142.5 143.2 142.8 143.1 143.4 143.6 Finished consumer goods less foods and energy....| 145.7 146.8 146.1 146.9 147.3 147.7 Consumer nondurable goods less foods and energy..| 155.2 157.4 155.8 158.1 158.8 159.2 | Intermediate energy goods........................| 83.1 81.3 81.9 81.4 80.0 80.3 Intermediate materials less energy...............| 133.1 133.0 132.9 132.8 132.7 132.6 Intermediate materials less foods and energy.....| 134.1 134.1 134.0 133.9 133.7 133.7 | Crude energy materials 2/........................| 71.7 69.6 71.6 72.0 69.2 68.8 Crude materials less energy......................| 117.3 117.0 116.9 116.0 115.9 113.0 Crude nonfood materials less energy 3/...........| 150.1 148.0 146.1 146.8 146.1 143.4 ______________________________________________________________________________________________________________ 1/ All seasonally adjusted indexes are subject to change up to five years after original publication due to the recalculation of seasonal factors each January. The indexes for February 1998 have been recalculated to incorporate late reports and corrections by respondents. 2/ Includes crude petroleum. 3/ Excludes crude petroleum. Technical Notes Brief Explanation of Producer Price Indexes Producer price indexes (PPI) measure average changes in prices received by domestic producers of commodities in all stages of processing. Most of the information used in calculating the indexes is obtained through the systematic sampling of nearly every industry in the manufacturing and mining sectors of the economy. The PPI program also includes some information from other sectors--agriculture, fishing, forestry, services, and gas and electricity. Because producer price indexes are designed to measure only the change in prices received for the output of domestic industries, imports are not included. The sample currently contains about 3,200 commodities and 80,000 quotations per month. There are three primary systems of indexes within the PPI program: (1) Stage of processing indexes; (2) commodity indexes; and (3) indexes for the net output of industries and their products. The stage-of-processing structure (tables 1 and 2) organizes products by class of buyer and degree of processing. The commodity structure (tables 2 and 3) organizes products by similarity of end-use or material composition. The entire output of various industries is sampled to derive price indexes for the net output of industries and their products (table 4). Within the stage-of-processing system, finished goods are commodities that will not undergo further processing and are ready for sale to the final demand user, either an individual consumer or business firm. Consumer foods include unprocessed foods such as eggs and fresh vegetables, as well as processed foods such as bakery products and meats. Other finished consumer goods include durable goods such as automobiles, household furniture, and appliances, and nondurable goods such as apparel and home heating oil. Capital equipment includes producer durable goods such as heavy motor trucks, tractors, and machine tools. The stage-of-processing category for intermediate materials, supplies, and components consists partly of commodities that have been processed but require further processing. Examples of such semifinished goods include flour, cotton yarn, steel mill products, and lumber. The intermediate goods category also encompasses nondurable, physically complete items purchased by business firms as inputs for their operations. Examples include diesel fuel, belts and belting, paper boxes, and fertilizers. Crude materials for further processing are products entering the market for the first time that have not been manufactured or fabricated and that are not sold directly to consumers. Crude foodstuffs and feedstuffs include items such as grains and livestock. Examples of crude nonfood materials include raw cotton, crude petroleum, coal, hides and skins, and iron and steel scrap. Producer price indexes for the net output of industries and their products are grouped according to the Standard Industrial Classification (SIC) and the Census product code extension of the SIC. Industry price indexes are compatible with other economic time series organized by SIC codes, such as data on employment, wages, and productivity. Table 4 lists indexes for the net output of major mining and manufacturing industry groups at the 2-digit level. Producer price indexes are based on selling prices reported by establishments of all sizes selected by probability sampling, with the probability of selection proportionate to size. Individual items and transaction terms from these firms are also chosen by probability proportionate to size. BLS strongly encourages cooperating companies to supply actual transaction prices at the time of shipment to minimize the use of list prices. Prices are normally reported by mail questionnaire for the Tuesday of the week containing the 13th. Price data are provided on a voluntary and confidential basis; no one but sworn BLS employees are allowed access to individual company price reports. All producer price indexes are routinely subject to revision once, 4 months after original publication, to reflect the availability of late reports and corrections by respondents. Net output values of shipments are used as weights for industry indexes. Net output values refer to the value of shipments from establishments in one industry to establishments classified in another industry. However, weights for commodity price indexes are based on gross shipment values, including shipment values between establishments within the same industry. As a result, broad commodity grouping indexes such as the all commodities index are affected by the multiple counting of price change at successive stages of processing, which can lead to exaggerated or misleading signals about inflation. Stage-of- processing indexes partially correct this defect, but industry indexes consistently correct for this at all levels of aggregation. Therefore, industry and stage-of-processing indexes are more appropriate than broad commodity groupings for economic analysis of general price trends. Weights for most traditional commodity groupings of the PPI, as well as all indexes (such as stage-of-processing indexes) calculated from traditional commodity groupings, currently reflect 1987 values of shipments as reported in the Census of Manufactures and other sources. From January 1987 through December 1991, PPI weights were derived from 1982 shipment values. Industry indexes shown in table 4 are also now calculated with 1987 net output weights. Effective with publication of January 1988 data, many important PPI series (including stage-of-processing groupings and most commodity groups and individual items) were placed on a new reference base, 1982=100, to coincide with the reference year of the shipment weights. From 1971 through 1987, the standard reference base for most PPI series was 1967=100. Except for rounding differences, the shift to the new reference base did not alter any changes to previously published percent changes for affected PPI series. (See "Calculating Index Changes," below.) The new reference base is not used for indexes with a base later than December 1981, nor for indexes for the net output of industries and their products. For further information on the underlying concepts and methodology of the Producer Price Index, see chapter 16, "Producer Prices," in BLS Handbook of Methods (September 1992), Bulletin 2414. Reprints are available from the Bureau of Labor Statistics on request. Calculating Index Changes Movements of price indexes from one month to another are usually expressed as percent changes rather than as changes in index points because index point chances are affected by the level of the index in relation to its base period, while percent changes are not. The box shows the computation of index point and percent changes. Percent changes for 3-month and 6-month periods can be expressed as annual rates that are computed according to the standard formula for compound growth rates. These data indicate what the percent change would be if the rate for a given 3- or 6-month span were maintained for a 12-month period. Index Point Change Finished Goods Price Index 107.5 Less previous index 104.0 Equals index point change 3.5 Index Percent Change Index point change 3.5 Divided by the previous index 104.0 Equals 0.034 Result multiplied by 100 0.034 x 100 Equals percent change 3.4 Each index measures price changes from a reference period which equals 100.0 (1982 or some later month). An increase of 5.5 percent from the reference period in the Finished Goods Price Index, for example, is shown as 105.5. This change can also be expressed in dollars as follows: "Prices received by domestic producers of a systematic sample of finished goods have risen from $100 in 1982 to $105.50 to-day." Likewise, a current index of 90.0 would indicate that prices received by producers of finished goods today are 10 percent lower than they were in 1982. Seasonally Adjusted and Unadjusted Data Because price data are used for different purposes by different groups, the Bureau of Labor Statistics publishes seasonally adjusted as well as unadjusted changes each month. Seasonally adjusted data are preferred for analyzing general price trends in the economy because they eliminate the effect of changes that normally occur at about the same time and in about the same magnitude every year-such as price movements resulting from normal weather patterns, regular production and marketing cycles, model changeovers, seasonal discounts, and holidays. For these reasons, seasonally adjusted data more clearly reveal underlying cyclical trends. Unadjusted data are of primary interest to users who need information which can be related to actual dollar values of transactions. Individuals requiring this information include marketing specialists, purchasing agents, budget and cost analysts, contract specialists, and commodity traders. It is the unadjusted data that are generally cited in escalating long-term contracts such as purchasing agreements or real estate leases. (See Escalation and Producer Price Indexes: A Guide for Contracting Parties, BLS Report 807, September 1991, available on request from BLS.) For more information, see "Appendix A: Seasonal Adjustment Methodology at BLS," in the BLS Handbook of Methods (September 1992), Bulletin 2414.