FOR DATA ONLY: (202) 691-5200 USDL 04-1763 FOR TECHNICAL INFORMATION: TRANSMISSION OF MATERIAL IN (202) 691-7705 THIS RELEASE IS EMBARGOED MEDIA CONTACT: (202) 691-5902 UNTIL 8:30 A.M. (EDT), FRIDAY, http://www.bls.gov/ppi SEPTEMBER 10, 2004 Producer Price Indexes -- August 2004 The Producer Price Index for Finished Goods declined 0.1 percent in August, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This decrease followed a 0.1-percent advance in July and a 0.3-percent decline in June. At the earlier stages of processing, prices received by manufacturers of intermediate goods jumped 1.0 percent in August, after a 0.8-percent gain in the preceding month, while the crude goods index fell 0.7 percent, compared with a 0.2- percent decrease in July. (See table A.) Table A. Monthly and annual percent changes in selected stage-of-processing price indexes, seasonally adjusted ______________________________________________________________________________________ | | | | | | | Finished goods | | | | | | | | | |---------------------------------------------------------| | | | | | | | | Change in | | | | | | | | Except |finished goods| Inter- | | | | | | |foods and|from 12 months| mediate | Crude | | Month | Total | Foods | Energy | energy | ago(unadj.) | goods | goods | |--------------------------------------------------------------------------------------| 2003 Aug. 0.5 0.8 1.4 0.1 3.5 0.6 -1.0 Sept. .2 1.2 -.1 0 3.5 -.1 2.7 Oct. .6 2.0 -.4 .5 3.4 .3 2.8 Nov. -.1 -.3 -.7 0 3.4 0 0 Dec. .2 .2 1.4 -.1 4.0 .4 3.4 2004 Jan. .6 -1.3 4.7 .3 3.3 .9 4.1 Feb. .1 .4 .3 -.1 2.1 1.0 1.5 Mar. .6 1.5 .6 .3 1.5 .8 1.6 Apr. r .7 r 1.3 r 1.8 r .1 3.7 r 1.4 r 1.8 May r .7 r 1.4 r 1.4 r .4 5.0 r .9 r 1.8 June -.3 -.6 -1.6 .2 4.0 .5 1.6 July .1 -1.6 2.3 .1 4.0 .8 -.2 Aug. -.1 -.2 .2 -.1 3.4 1.0 -.7 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for April 2004 have been revised to reflect the availability of late reports and corrections by respondents. -2- Among finished goods, prices for both finished goods other than foods and energy and finished consumer foods edged down in August -- falling 0.1 and 0.2 percent, respectively. By contrast, the finished energy goods index moved up 0.2 percent in August. Before seasonal adjustment, the Producer Price Index for Finished Goods decreased 0.1 percent in August to 148.6 (1982=100). From August 2003 to August 2004, the finished goods index rose 3.4 percent. Over the same period, prices for finished energy goods climbed 9.9 percent, the index for finished consumer foods increased 4.0 percent, and prices for finished goods other than foods and energy advanced 1.5 percent. At the earlier stages of processing, the index for intermediate goods moved up 8.1 percent, and prices for crude goods rose 22.4 percent for the 12-month period ended August 2004. Finished goods The index for finished consumer goods other than foods and energy decreased 0.2 percent in August, after inching up 0.1 percent in July. The light motor trucks index fell 2.5 percent, after showing no change in July, while passenger car prices declined 1.2 percent in August, compared with a 0.4-percent decrease a month earlier. The indexes for cosmetics and other toilet preparations, sanitary papers and health products, and household appliances fell, following increases in July. Prices for book publishing, periodical circulation, and men's and boys' apparel were unchanged in August, after rising in the preceding month. By contrast, the alcoholic beverages index jumped 1.3 percent, compared with a 0.1-percent increase in July. Prices for pharmaceutical preparations also rose at a quicker pace in August than they did in July. The indexes for women's, girls', and infants' apparel and for household furniture turned up, after falling in July. Table B. Monthly and annual percent changes in selected price indexes for intermediate goods and crude goods, seasonally adjusted __________________________________________________________________________________ | | | | | | Intermediate goods | Crude goods | | | | | | |---------------------------------------------------------------------------| | | | | |Change in | | | | Change | | | | | | interme- | | | |in crude | | | | | | diate | | | | goods | | | | | |goods from| | | | from 12 | | | | | Except |12 months | | | Except | months | | | | |foods and| ago | | Energy |foods and| ago | |Month | Foods | Energy | energy | (unadj.) | Foods | (unadj.)| energy |(unadj.) | |----------------------------------------------------------------------------------| 2003 Aug. 0.2 2.4 0.1 4.4 3.7 -6.1 2.0 20.8 Sept. 2.7 -2.0 .2 3.7 7.0 -1.1 2.7 21.5 Oct. 2.7 -.2 .3 3.4 8.5 -2.8 3.0 22.6 Nov. 2.6 -1.3 .1 3.4 -.6 -1.3 4.3 18.0 Dec. -.3 1.4 .2 3.9 .3 7.0 3.0 19.5 2004 Jan. -1.3 2.9 .6 3.9 -6.8 15.3 3.7 16.1 Feb. 1.3 .7 .9 2.8 4.3 -2.8 6.1 12.0 Mar. 2.5 .4 .8 1.5 6.9 -3.7 2.8 .5 Apr. r 4.7 r 1.8 r 1.1 r 5.4 r 3.3 r 3.8 r -4.3 r 21.6 May r 2.8 r 1.5 r .7 7.1 r 2.9 r 4.1 r -4.9 21.9 June -2.2 .7 .5 6.9 -3.6 7.7 -.5 18.9 July -1.4 2.3 .5 7.6 -4.8 .2 8.6 22.2 Aug. -5.2 2.7 1.0 8.1 -4.6 -.1 4.5 22.4 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for April 2004 have been revised to reflect the availability of late reports and corrections by respondents. -3- The finished consumer foods index fell 0.2 percent in August, after a 1.6-percent drop in July. The rate of decline in prices for beef and veal slowed to 3.2 percent in August from 8.3 percent in the previous month. The dairy products index also fell less in August than it did in July. Prices for fresh and dry vegetables, soft drinks, and shortening and cooking oils moved up in August, after falling a month earlier. The pork index increased at a faster rate than it did in the preceding month. Conversely, processed young chicken prices dropped 7.1 percent in August, compared with a 1.1-percent decrease in July. The index for eggs for fresh use and the index for fresh fruits and melons also went down more than they did in the preceding month, while price increases for finfish and shellfish slowed in August. Capital equipment prices inched down 0.1 percent in August, compared with a 0.1-percent rise in July. The light motor trucks index fell 2.5 percent in August, after showing no change in the previous month. The indexes for passenger cars, electronic computers, and x-ray and electromedical equipment decreased at a faster rate than they did a month earlier. Prices for semiconductor manufacturing equipment turned down in August. On the other hand, prices for communication and related equipment increased 0.2 percent in August, following a 0.7-percent decline in the preceding month. The indexes for commercial furniture, heavy motor trucks, and integrating and measuring instruments also turned up, after falling in July. The finished energy goods index advanced 0.2 percent in August, following a 2.3-percent gain in the prior month. In August, rising prices for liquefied petroleum gas, residential natural gas, home heating oil, residential electric power, and diesel fuel slightly outweighed falling prices for gasoline and finished lubricants. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components rose 1.0 percent in August, after posting a 0.8-percent gain in the previous month. Prices for materials and components for construction, materials for nondurable manufacturing, intermediate energy goods, and materials for durable manufacturing also rose at a faster rate than they did in July. On the other hand, the intermediate foods and feeds index fell more in August than it did a month earlier. Prices for intermediate goods other than foods and energy advanced 1.0 percent, following a 0.5- percent increase in the prior month. (See table B.) Subsequent to a 0.2-percent increase in July, the index for materials and components for construction moved up 1.4 percent in August. Plywood prices turned up 13.7 percent in August, after falling 11.1 percent in the preceding month, and the softwood lumber index increased 8.1 percent, compared with a 1.9-percent decrease in July. The indexes for building paper and board, treated wood, and air conditioning and refrigeration equipment also rose, following declines in July. Prices for fabricated structural metal products, concrete products, and plastic construction products increased more than they did in the previous month. By contrast, the mineral wool for structural insulation index edged down 0.1 percent in August, compared with a 5.6-percent rise a month earlier. Prices for plumbing fixtures and brass fittings also turned down, while the indexes for fabricated ferrous wire products and switchgear rose less than they did in July. Prices for asphalt felts and coatings showed no change in August, after posting an increase in the prior month. The rate of increase in the index for materials for nondurable manufacturing rose from 1.0 percent in July to 1.7 percent in August. Accounting for much of this acceleration, the industrial chemicals index jumped 5.7 percent, following a 1.6-percent gain in July. Prices for fertilizer materials and paint materials also increased more than they did in the preceding month, while paper prices turned up in August. Alternatively, the paperboard index fell 0.4 percent in August, after climbing 5.5 percent in the previous month. Prices for inedible fats and oils, processed yarns and threads, and synthetic fibers also turned down, following increases in the prior month. The medicinal and botanical chemicals index declined at a quicker rate in August than it did a month earlier, while prices for plastic resins and materials rose less than they did in July. -4- The intermediate energy goods index went up 2.7 percent in August, following a 2.3-percent gain in the prior month. Industrial electric power prices turned up 3.0 percent, after falling 1.2 percent in the preceding month. The indexes for commercial electric power and residual fuel also advanced, following decreases in July. Prices for industrial natural gas, liquefied petroleum gas, and commercial natural gas rose more quickly in August than they did in the previous month. On the other hand, the gasoline index dropped 5.0 percent in August, after moving up 5.4 percent in the preceding month. The indexes for natural gas to electric utilities, jet fuels, and diesel fuel increased at a slower rate than they did in July. A 10.3-percent increase in the index for hot rolled steel bars, plates, and structural shapes was the most important factor behind a 1.1- percent gain in the index for materials for durable manufacturing in August. Price increases were also registered for plywood, cold rolled steel sheet and strip, building paper and board, cold finished steel bars, cement, and aluminum mill shapes. By contrast, the indexes for primary nonferrous metals, unprocessed filament yarns, and copper and brass mill shapes declined in August. The intermediate foods and feeds index moved down 5.2 percent in August, compared with a 1.4-percent decline in the preceding month. Prices for prepared animal feeds plunged 10.1 percent, after rising 2.3 percent in July. Confectionery material prices also turned down in August, while the indexes for processed young chickens; flour; and dry, condensed, and evaporated milk products fell more than they did in the prior month. On the other hand, the beef and veal index went down 3.2 percent in August, following an 8.3-percent drop in the previous month. Prices for fluid milk products also decreased less than they did in July. The indexes for natural, processed, and imitation cheese and for shortening and cooking oils turned up, following declines a month earlier, and the index for pork rose more than it did in July. Crude goods The Producer Price Index for Crude Materials for Further Processing fell 0.7 percent in August, after edging down 0.2 percent in July. In August, declining prices for crude foodstuffs and feedstuffs and for crude energy materials outweighed rising prices for crude goods other than foods and energy. (See table B.) The crude foodstuffs and feedstuffs index decreased 4.6 percent in August, following a 4.8-percent decline in July. Falling prices for soybeans, fluid milk, corn, slaughter broilers and fryers, wheat, and fresh fruits and melons outweighed price increases for fresh and dry vegetables, slaughter cattle, slaughter hogs, unprocessed finfish, and slaughter turkeys. The August index for crude energy materials inched down 0.1 percent, following a 0.2-percent gain a month earlier. Natural gas prices dropped 6.7 percent, after slipping 2.0 percent in the preceding month. Conversely, the crude petroleum index advanced 12.5 percent, compared with a 5.3-percent increase in July. Coal prices turned up 0.1 percent, following a 0.9-percent drop in the prior month. Price increases for basic industrial materials slowed from July to August -- rising 8.6 and 4.5 percent, respectively. The iron and steel scrap index increased 7.7 percent in August, following a 32.2-percent surge in July. The indexes for construction sand, gravel, and crushed stone; aluminum base scrap; copper base scrap; and hides and skins also rose less rapidly in August. Prices for gold ores turned down, after moving up in the previous month. By contrast, falling prices for raw cotton slowed in August, declining 3.0 percent after sliding 15.5 percent a month earlier. The indexes for phosphates, iron ore, and for hardwood logs, bolts, and timber turned up, following declines in the prior month. Wastepaper prices rose more quickly in August than they did in July. -5- Net output price indexes for mining, manufacturing, and services industries Mining. The Producer Price Index for the Net Output of Total Mining Industries advanced 1.3 percent in August, after rising 0.9 percent in July. (Net output price indexes are not seasonally adjusted.) Much of this acceleration can be attributed to prices received by the natural gas liquid extraction industry, which turned up 2.2 percent following a 0.3- percent decrease in July. The industry indexes for bituminous coal and lignite surface mining; potash, soda, and borate mineral mining; and iron ore mining also turned up in August. Prices received by the oil and gas well drilling industry rose more in August than they did in the prior month, while the bituminous coal and lignite underground mining industry index increased, after showing no change in July. By contrast, the crude petroleum and natural gas extraction industry index increased 0.3 percent, after rising 1.5 percent in July. Prices for oil and gas operations support activities also advanced less than they did in the previous month, while the industry indexes for gold ore mining and support activities for coal mining fell, following increases in July. In August 2004, the Producer Price Index for the Net Output of Total Mining Industries was 157.2 (December 1984=100), 25.3 percent above its year-ago level. Manufacturing. The Producer Price Index for the Net Output of Total Manufacturing Industries rose 0.2 percent in August, compared with a 0.3- percent increase in the prior month. In August, price increases received by the industries for petroleum and coal products, furniture and related products, chemicals, plastics and rubber products, and primary metals outweighed falling prices received by manufacturers of food products, transportation equipment, and computer and electronic products. In August, the Producer Price Index for the Net Output of Total Manufacturing Industries was 143.7 (December 1984=100), 4.9 percent above its year-ago level. Services. Among services industries in August, prices turned down for general medical and surgical hospitals, hotels (excluding casino hotels) and motels, software publishers, and scheduled freight air transportation. The rate of increase in the indexes for direct life insurance carriers, passenger car rental, and nonresidential property managers slowed from July to August. Alternatively, the industry indexes for scheduled passenger air transportation, investment banking and securities dealing, and wired telecommunications carriers turned up in August, after falling in July. ***** Producer Price Index data for September 2004 are scheduled to be released on Friday, October 15, 2004, at 8:30 a.m. (EDT). 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| |Aug. 2004 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | |Apr. |July |Aug. | Aug. | July | May to|June to |July to | 2003 1/|2004 2/|2004 2/|2004 2/| 2003 | 2004 | June | July | Aug. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 147.3 148.7 148.6 3.4 -0.1 -0.3 0.1 -0.1 Finished consumer goods........................| 74.422 150.4 152.0 151.9 4.1 -.1 -.5 .1 -.1 Finished consumer foods......................| 21.487 152.7 152.1 152.2 4.0 .1 -.6 -1.6 -.2 Crude......................................| 1.731 130.8 114.4 125.7 -2.0 9.9 -10.9 .8 7.2 Processed..................................| 19.756 154.5 155.3 154.4 4.5 -.6 .1 -1.8 -.6 Finished consumer goods, excluding foods.....| 52.934 149.1 151.7 151.4 4.1 -.2 -.4 .7 -.1 Nondurable goods less foods................| 36.883 154.3 157.9 158.0 5.3 .1 -.8 1.1 .2 Durable goods..............................| 16.051 134.4 134.6 133.7 1.4 -.7 .5 0 -.7 Capital equipment..............................| 25.578 140.6 141.2 141.1 1.4 -.1 .2 .1 -.1 Manufacturing industries.....................| 7.016 141.9 142.6 142.7 2.0 .1 .4 .1 0 Nonmanufacturing industries..................| 18.562 140.1 140.6 140.4 1.2 -.1 .2 0 -.1 | Intermediate materials, supplies, and components.| 100.000 140.2 143.8 144.9 8.1 .8 .5 .8 1.0 Materials and components for manufacturing.....| 46.892 136.2 138.6 139.6 7.6 .7 .5 .4 .7 Materials for food manufacturing.............| 2.948 146.6 147.9 145.4 7.3 -1.7 -.1 -3.0 -1.9 Materials for nondurable manufacturing.......| 14.491 143.5 147.1 149.5 8.7 1.6 .7 1.0 1.7 Materials for durable manufacturing..........| 9.515 144.3 149.4 151.0 18.4 1.1 1.1 1.0 1.1 Components for manufacturing.................| 19.939 127.1 127.8 128.1 1.8 .2 .2 .2 .2 Materials and components for construction......| 12.827 164.7 167.8 170.0 10.6 1.3 .7 .2 1.4 Processed fuels and lubricants.................| 16.978 118.4 126.5 128.5 12.2 1.6 .7 2.4 3.0 Manufacturing industries ....................| 6.840 120.0 127.1 128.2 8.6 .9 2.6 1.1 3.2 Nonmanufacturing industries..................| 10.138 117.4 126.2 128.7 14.6 2.0 -.3 3.2 2.7 Containers.....................................| 3.164 154.9 159.5 161.4 5.1 1.2 .8 .9 1.2 Supplies.......................................| 20.138 146.4 148.1 147.5 4.5 -.4 .1 .5 -.3 Manufacturing industries.....................| 4.389 147.9 149.4 149.6 1.9 .1 .5 .3 .2 Nonmanufacturing industries..................| 15.750 144.8 146.5 145.7 5.1 -.5 -.1 .5 -.5 Feeds......................................| 1.238 134.3 131.5 115.1 13.4 -12.5 -6.8 2.7 -12.6 Other supplies.............................| 14.512 146.7 148.9 149.7 4.5 .5 .5 .4 .5 | Crude materials for further processing...........| 100.000 155.7 162.0 160.7 22.4 -.8 1.6 -.2 -.7 Foodstuffs and feedstuffs......................| 39.856 135.4 131.0 124.7 11.8 -4.8 -3.6 -4.8 -4.6 Nonfood materials..............................| 60.144 166.6 181.3 183.9 28.9 1.4 5.1 2.7 1.3 Nonfood materials except fuel 3/.............| 33.348 141.4 146.7 158.1 35.0 7.8 -2.5 7.1 7.6 Manufacturing 3/...........................| 32.735 130.3 135.3 146.0 35.6 7.9 -2.6 7.2 7.8 Construction...............................| 0.613 190.1 194.2 194.2 7.9 0 1.4 .9 .1 Crude fuel 4/................................| 26.796 191.8 221.5 208.4 21.7 -5.9 14.6 -1.9 -5.9 Manufacturing industries...................| 2.406 182.6 209.8 197.7 21.3 -5.8 14.1 -1.9 -5.8 Nonmanufacturing industries................| 24.390 196.1 226.6 213.1 21.7 -6.0 14.6 -1.9 -6.0 | Special groupings | | Finished goods, excluding foods..................|5/ 78.513 145.7 147.6 147.4 3.3 -.1 -.2 .5 -.1 Intermediate materials less foods and feeds......|6/ 95.814 140.2 144.0 145.4 8.0 1.0 .6 .9 1.3 Intermediate foods and feeds.....................|6/ 4.186 143.2 143.2 136.0 8.8 -5.0 -2.2 -1.4 -5.2 Crude materials less agricultural products 3/ 7/.|8/ 58.184 170.4 186.2 188.2 30.0 1.1 5.4 2.9 1.0 | Finished energy goods............................|5/ 15.868 109.5 115.1 115.1 9.9 0 -1.6 2.3 .2 Finished goods less energy.......................|5/ 84.132 151.9 152.1 151.9 2.2 -.1 0 -.4 -.1 Finished consumer goods less energy..............|5/ 58.554 156.9 156.8 156.6 2.5 -.1 -.2 -.5 -.2 | Finished goods less foods and energy.............|5/ 62.645 152.1 152.4 152.2 1.5 -.1 .2 .1 -.1 Finished consumer goods less foods and energy....|5/ 37.066 159.8 160.0 159.7 1.6 -.2 .1 .1 -.2 Consumer nondurable goods less foods and energy..|5/ 21.015 180.5 180.5 180.8 1.7 .2 -.2 .2 .2 | Intermediate energy goods........................|6/ 17.379 117.3 125.4 127.1 11.2 1.4 .7 2.3 2.7 Intermediate materials less energy...............|6/ 82.621 144.4 146.8 147.7 7.4 .6 .5 .4 .6 Intermediate materials less foods and energy.....|6/ 78.435 144.6 147.1 148.5 7.3 1.0 .5 .5 1.0 | Crude energy materials 3/........................|8/ 39.753 158.8 178.3 178.1 27.5 -.1 7.7 .2 -.1 Crude materials less energy......................|8/ 60.248 148.7 146.5 144.5 18.7 -1.4 -2.6 -.5 -1.2 Crude nonfood materials less energy 4/...........|8/ 20.391 187.6 191.6 200.9 32.3 4.9 -.5 8.6 4.5 _______________________________________________________________________________________________________________________________ 1/ Comprehensive relative importance figures are initially computed 4/ Excludes crude petroleum. after the publication of December indexes and are recalculated 5/ Percent of total finished goods. after final December indexes are available. 6/ Percent of total intermediate materials. 2/ The indexes for April 2004 have been recalculated to incorporate 7/ Formerly titled "Crude materials for late reports and corrections by respondents. All indexes further processing, excluding crude are subject to revision 4 months after original publication. foodstuffs and feedstuffs, plant and 3/ Includes crude petroleum. 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 | | |Aug. 2004 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Apr. |July |Aug. | Aug. | July | May to|June to|July to | |2004 1/|2004 1/|2004 1/| 2003 | 2004 | June | July | Aug. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 147.3 148.7 148.6 3.4 -0.1 -0.3 0.1 -0.1 | FINISHED CONSUMER GOODS...............................| 150.4 152.0 151.9 4.1 -.1 -.5 .1 -.1 | FINISHED CONSUMER FOODS..............................| 152.7 152.1 152.2 4.0 .1 -.6 -1.6 -.2 | | 01-11 | Fresh fruits and melons 2/..........................| 90.5 95.5 94.4 9.9 -1.2 -8.1 -.2 -1.2 01-13 | Fresh and dry vegetables 2/.........................| 123.6 88.7 116.9 -6.2 31.8 -24.0 -2.8 31.8 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 110.5 82.8 82.4 -28.0 -.5 -8.6 -7.9 -13.0 02-11 | Bakery products 2/..................................| 195.1 195.5 196.0 .4 .3 -.1 -.1 .3 02-13 | Milled rice 2/......................................| 136.8 147.1 145.8 37.4 -.9 1.0 -.4 -.9 02-14-02 | Pasta products (June 1985=100) 2/...................| 126.4 126.4 126.4 -.3 0 0 .2 0 02-21-01 | Beef and veal 2/....................................| 144.7 142.5 138.0 1.3 -3.2 2.0 -8.3 -3.2 02-21-04 | Pork................................................| 126.1 139.0 140.3 19.5 .9 .9 .6 1.7 02-22-03 | Processed young chickens............................| 146.1 149.1 140.0 12.8 -6.1 -1.4 -1.1 -7.1 02-22-06 | Processed turkeys...................................| 104.2 107.8 107.9 20.2 .1 -.7 -2.8 .6 02-23 | Finfish and shellfish...............................| 201.2 196.5 206.8 6.3 5.2 -5.5 6.9 5.3 02-3 | Dairy products......................................| 162.5 159.7 155.1 7.8 -2.9 -3.3 -6.2 -4.1 02-4 | Processed fruits and vegetables 2/..................| 134.1 134.4 134.8 1.0 .3 .4 .1 .3 02-55 | Confectionery end products 2/.......................| 186.8 187.4 187.5 1.8 .1 -.1 .1 .1 02-62 | Soft drinks 2/......................................| 156.9 157.1 158.5 4.1 .9 2.5 -1.3 .9 02-63-01 | Roasted coffee 2/...................................| 129.0 129.2 129.4 1.3 .2 -.3 -1.6 .2 02-78 | Shortening and cooking oils 2/......................| 202.5 196.3 202.1 29.1 3.0 -.8 -1.9 3.0 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 149.1 151.7 151.4 4.1 -.2 -.4 .7 -.1 | | 02-61 | Alcoholic beverages.................................| 154.8 151.4 153.2 3.0 1.2 -2.6 .1 1.3 03-81-06 | Women's, girls', & infants' apparel (12/03=100) 2/..| 100.2 99.5 99.7 (3) .2 -.4 -.4 .2 03-81-07 | Men's and boys' apparel (Dec. 2003=100) 2/..........| 99.9 99.5 99.5 (3) 0 -1.0 .3 0 03-82 | Textile housefurnishings 2/.........................| 123.4 123.3 123.1 .6 -.2 0 .2 -.2 04-3 | Footwear 2/.........................................| 146.2 146.2 146.3 -1.1 .1 -.1 .4 .1 05-41 | Residential electric power (Dec. 1990=100)..........| 119.6 123.3 123.9 -.2 .5 -2.9 .2 .5 05-51 | Residential gas (Dec. 1990=100).....................| 175.7 184.8 185.0 8.8 .1 3.1 1.2 1.1 05-71 | Gasoline............................................| 126.1 135.2 128.3 20.6 -5.1 -5.2 5.4 -5.0 05-73-02-01| Home heating oil and distillates....................| 109.8 115.0 126.7 38.3 10.2 3.7 5.9 7.8 06-38 | Pharmaceutical preparations (June 2001=100) 2/......| 112.0 112.6 113.0 4.9 .4 .4 .1 .4 06-71 | Soaps and synthetic detergents 2/...................| 132.4 132.5 132.5 1.8 0 0 .1 0 06-75 | Cosmetics and other toilet preparations 2/..........| 140.8 141.4 140.3 -.1 -.8 0 .4 -.8 07-12 | Tires, tubes, tread, etc 2/.........................| 101.9 103.7 103.6 5.7 -.1 1.9 -.9 -.1 09-15-01 | Sanitary paper products 2/..........................| 146.8 149.1 148.6 -1.1 -.3 .1 .7 -.3 09-31-01 | Newspaper circulation 2/............................| 232.8 232.8 232.8 1.3 0 0 0 0 09-32-01 | Periodical circulation..............................| 223.6 223.1 223.2 1.6 0 0 .6 0 09-33 | Book publishing.....................................| 250.7 252.5 252.7 3.4 .1 .3 .7 0 12-1 | Household furniture.................................| 159.0 160.6 160.9 1.7 .2 .6 -.1 .4 12-3 | Floor coverings 2/..................................| 132.8 137.4 139.1 3.2 1.2 1.6 .3 1.2 12-4 | Household appliances 2/.............................| 101.5 101.6 101.2 -.7 -.4 -.5 .4 -.4 12-5 | Home electronic equipment 2/........................| 65.5 64.2 64.2 -4.9 0 -.2 -1.8 0 12-62 | Household glassware.................................| 171.3 171.4 168.7 -.2 -1.6 -1.2 1.2 -1.6 12-64 | Household flatware 2/...............................| 145.4 145.4 145.4 .1 0 (3) (3) 0 12-66 | Lawn and garden equip., ex. tractors 2/.............| 134.1 134.3 134.9 1.5 .4 .5 .1 .4 14-11-01 | Passenger cars......................................| 131.5 130.8 128.8 1.7 -1.5 1.1 -.4 -1.2 15-11 | Toys, games, and children's vehicles 2/.............| 124.7 124.5 126.1 .8 1.3 0 -.2 1.3 15-12 | Sporting and athletic goods 2/......................| 122.8 123.0 123.3 0 .2 -.3 .2 .2 15-2 | Tobacco products 2/.................................| 434.3 434.0 433.5 1.0 -.1 .3 .2 -.1 15-5 | Mobile homes .......................................| (3) 188.1 188.3 11.0 .1 (3) (3) .1 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 135.5 135.3 135.2 2.3 -.1 .7 .2 -.1 15-94-04 | Costume jewelry and novelties 2/....................| 147.5 147.8 147.8 1.7 0 1.4 .2 0 | | | CAPITAL EQUIPMENT.....................................| 140.6 141.2 141.1 1.4 -.1 .2 .1 -.1 | | 11-1 | Agricultural machinery and equipment 2/.............| 164.2 166.2 166.1 2.7 -.1 .4 .1 -.1 11-2 | Construction machinery and equipment 2/.............| 156.7 158.8 159.1 3.7 .2 0 1.1 .2 11-37 | Metal cutting machine tools 2/......................| 150.9 151.4 151.9 .8 .3 .3 .1 .3 11-38 | Metal forming machine tools 2/......................| 170.7 172.4 172.4 2.8 0 .5 .1 0 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 139.2 139.1 139.2 0 .1 .1 0 .1 11-41 | Pumps, compressors, and equipment...................| 165.8 167.5 168.1 3.0 .4 .5 .1 .4 11-44 | Industrial material handling equipment 2/...........| 142.5 144.4 144.5 4.6 .1 .4 .3 .1 11-51 | Electronic computers (Dec. 1998=100) 2/.............| 31.0 30.1 29.6 -11.4 -1.7 -1.3 -.7 -1.7 11-62 | Textile machinery 2/................................| 157.8 157.9 157.9 .3 0 .1 0 0 11-64 | Paper industries machinery (June 1982=100) 2/.......| 173.8 174.0 174.2 2.3 .1 .1 0 .1 11-65 | Printing trades machinery 2/........................| 143.0 143.7 143.7 .3 0 -.1 .3 0 11-74 | Transformers and power regulators 2/................| 132.3 135.6 136.2 2.9 .4 -.7 .4 .4 11-76 | Communication & related equip. (Dec. 1985=100) 2/...| 103.3 102.7 102.9 -1.9 .2 -1.3 -.7 .2 11-79-05 | X-ray and electromedical equipment 2/...............| 97.7 97.4 96.5 -4.5 -.9 -.9 -.4 -.9 11-91 | Oil field and gas field machinery ..................| 143.4 143.4 143.6 2.5 .1 .1 -.1 .3 11-92 | Mining machinery and equipment 2/...................| 162.2 164.3 164.2 5.9 -.1 .2 .6 -.1 11-93 | Office and store machines and equipment 2/..........| 113.1 113.5 113.6 1.2 .1 .3 .4 .1 12-2 | Commercial furniture 2/.............................| 164.2 165.2 166.8 2.6 1.0 1.4 -.7 1.0 14-11-05 | Light motor trucks..................................| 150.4 149.7 146.3 .2 -2.3 .9 0 -2.5 14-11-06 | Heavy motor trucks 2/...............................| 154.7 155.1 156.3 1.4 .8 .4 -.1 .8 14-14 | Truck trailers 2/...................................| 146.3 148.6 149.0 6.7 .3 .4 .1 .3 14-21-02 | Civilian aircraft (Dec. 1985=100)...................| 185.5 191.3 194.0 5.6 1.4 1.6 1.4 1.4 14-31 | Ships (Dec. 1985=100) 2/............................| 171.2 171.2 171.2 8.2 0 -.2 .2 0 14-4 | Railroad equipment 2/...............................| 142.8 144.2 145.4 6.5 .8 .4 1.0 .8 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 140.2 143.8 144.9 8.1 .8 .5 .8 1.0 | | | INTERMEDIATE FOODS AND FEEDS..........................| 143.2 143.2 136.0 8.8 -5.0 -2.2 -1.4 -5.2 | | 02-12-03 | Flour 2/............................................| 127.0 129.0 125.0 -.2 -3.1 5.5 -1.0 -3.1 02-53 | Refined sugar and byproducts 2/.....................| 120.4 120.9 121.6 -1.3 .6 .3 .7 .6 02-54 | Confectionery materials 2/..........................| 125.1 126.9 126.1 1.4 -.6 -.1 1.4 -.6 02-72 | Crude vegetable oils 2/.............................| (3) (3) (3) (3) (3) (3) (3) (3) 02-9 | Prepared animal feeds 2/............................| 137.8 135.6 121.9 12.2 -10.1 -5.7 2.3 -10.1 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 140.2 144.0 145.4 8.0 1.0 .6 .9 1.3 | | 03-1 | Synthetic fibers 2/.................................| 105.7 106.8 106.6 .1 -.2 -.3 .8 -.2 03-2 | Processed yarns and threads 2/......................| 107.7 109.5 109.3 5.5 -.2 .5 1.1 -.2 03-3 | Gray fabrics 2/.....................................| 112.5 114.9 114.8 3.1 -.1 1.8 .3 -.1 03-4 | Finished fabrics 2/.................................| 120.3 120.9 121.0 -.1 .1 .1 .2 .1 03-83-03 | Industrial textile products 2/......................| 131.4 132.0 132.0 1.1 0 .4 0 0 04-2 | Leather 2/..........................................| 220.5 220.7 220.6 4.1 0 -1.1 .3 0 05-32 | Liquefied petroleum gas 2/..........................| 164.3 190.4 216.9 51.4 13.9 0 6.7 13.9 ____________________________________________________________________________________________________________________________________ See footnotes at end of table. Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing - Continued (1982=100 unless otherwise indicated) ____________________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | | Unadjusted index |change to |percent change from: Commodity | | |Aug. 2004 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Apr. |July |Aug. | Aug. | July | May to|June to|July to | |2004 1/|2004 1/|2004 1/| 2003 | 2004 | June | July | Aug. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 138.3 146.8 149.4 -0.6 1.8 -1.1 -0.8 1.2 05-43 | Industrial electric power...........................| 143.1 149.6 153.9 1.7 2.9 .1 -1.2 3.0 05-52 | Commercial natural gas (Dec. 1990=100)..............| 186.0 197.7 197.1 14.3 -.3 4.9 1.7 2.4 05-53 | Industrial natural gas (Dec. 1990=100)..............| 192.4 206.7 203.0 14.0 -1.8 6.7 2.7 3.7 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 166.0 180.9 169.4 17.1 -6.4 14.1 3.0 1.4 05-72-03 | Jet fuels...........................................| 93.4 111.7 128.6 59.2 15.1 -9.8 16.0 15.1 05-73-03 | No. 2 Diesel fuel...................................| 119.9 123.2 135.0 39.8 9.6 -3.7 8.1 7.6 05-74 | Residual fuels 2/...................................| 93.1 89.2 99.7 -17.9 11.8 5.7 -7.9 11.8 06-1 | Industrial chemicals 2/.............................| 154.1 158.9 167.9 19.5 5.7 1.4 1.6 5.7 06-21 | Prepared paint......................................| 174.0 175.8 175.8 2.3 0 .1 .7 .1 06-22 | Paint materials 2/..................................| 178.0 179.4 181.1 4.9 .9 -.3 .8 .9 06-31 | Medicinal and botanical chemicals 2/................| 135.0 136.2 134.6 -.4 -1.2 .3 -.2 -1.2 06-4 | Fats and oils, inedible.............................| 170.0 156.7 144.1 30.3 -8.0 -17.9 4.4 -5.8 06-51 | Mixed fertilizers...................................| 127.2 126.4 127.5 6.5 .9 -.6 .5 1.3 06-52-01 | Nitrogenates........................................| 165.4 166.0 170.8 17.4 2.9 4.5 4.2 5.3 06-52-02 | Phosphates 2/.......................................| 123.5 116.7 118.4 7.1 1.5 -2.5 -2.2 1.5 06-53 | Other agricultural chemicals 2/.....................| 149.1 149.7 149.3 .5 -.3 .3 -.1 -.3 06-6 | Plastic resins and materials 2/.....................| 154.8 160.8 161.6 12.5 .5 1.7 .8 .5 07-11-02 | Synthetic rubber 2/.................................| 127.9 131.3 133.8 6.6 1.9 .7 .2 1.9 07-21 | Plastic construction products ......................| 142.4 145.4 146.7 6.6 .9 0 .4 1.0 07-22 | Unsupported plastic film, sheet, & other shapes 2/..| 145.1 148.0 149.2 4.2 .8 1.8 .3 .8 07-26 | Plastic parts and components for manufacturing 2/...| 116.5 116.2 116.3 -.3 .1 -.3 -.3 .1 08-11 | Softwood lumber 2/..................................| 214.6 216.1 233.5 35.8 8.1 -2.9 -1.9 8.1 08-12 | Hardwood lumber 2/..................................| 198.4 199.9 201.6 5.3 .9 .3 -.1 .9 08-2 | Millwork............................................| 190.0 194.4 195.0 7.0 .3 .8 .2 .3 08-3 | Plywood 2/..........................................| 222.6 178.6 203.1 22.1 13.7 -10.5 -11.1 13.7 09-11 | Woodpulp 2/.........................................| 128.2 135.8 137.3 12.0 1.1 3.2 2.5 1.1 09-13 | Paper 2/............................................| 147.0 148.1 149.8 2.3 1.1 .5 -.1 1.1 09-14 | Paperboard 2/.......................................| 162.2 180.7 180.0 10.8 -.4 3.0 5.5 -.4 09-15-03 | Paper boxes and containers 2/.......................| 171.2 176.8 180.3 4.5 2.0 .7 1.0 2.0 09-2 | Building paper and board 2/.........................| 219.2 179.0 194.0 14.5 8.4 -8.6 -11.6 8.4 09-37 | Commercial printing (June 1982=100) 2/..............| 159.2 159.6 159.7 .8 .1 -.1 .3 .1 10-15 | Foundry and forge shop products.....................| 141.8 143.5 144.8 5.2 .9 .6 .2 .9 10-17 | Steel mill products.................................| 139.1 155.9 158.8 46.5 1.9 6.2 1.9 1.8 10-22 | Primary nonferrous metals 2/........................| 133.4 135.7 133.8 29.0 -1.4 -.9 5.5 -1.4 10-25-01 | Aluminum mill shapes 2/.............................| 146.7 154.4 154.7 7.9 .2 1.3 .4 .2 10-25-02 | Copper and brass mill shapes 2/.....................| 204.4 202.6 202.4 33.6 -.1 -1.0 1.8 -.1 10-26 | Nonferrous wire and cable 2/........................| 153.8 151.8 151.9 12.5 .1 .3 -.1 .1 10-3 | Metal containers 2/.................................| 114.6 116.5 116.6 6.8 .1 1.0 -.4 .1 10-4 | Hardware 2/.........................................| 160.2 161.9 161.9 3.3 0 .1 .7 0 10-5 | Plumbing fixtures and brass fittings................| 185.4 189.0 188.8 2.7 -.1 .7 .8 -.3 10-6 | Heating equipment 2/................................| 167.0 169.9 170.6 4.5 .4 .1 .4 .4 10-7 | Fabricated structural metal products 2/.............| 159.5 166.7 169.5 16.7 1.7 1.4 1.2 1.7 10-88 | Fabricated ferrous wire products (June 1982=100) 2/.| 145.7 157.1 157.3 19.4 .1 2.2 3.5 .1 10-89 | Other misc. metal products 2/.......................| 130.5 132.7 133.1 4.4 .3 1.3 .1 .3 11-45 | Mechanical power transmission equipment.............| 176.8 181.1 181.2 6.2 .1 1.0 1.1 .2 11-48 | Air conditioning and refrigeration equipment 2/.....| 138.8 138.6 139.9 2.3 .9 -.1 -.1 .9 11-49-02 | Metal valves, ex.fluid power (Dec. 1982=100)........| 174.4 177.7 178.7 5.3 .6 .4 .6 .6 11-49-05 | Ball and roller bearings 2/.........................| 176.2 178.9 178.7 4.3 -.1 1.2 -.1 -.1 11-71 | Wiring devices 2/...................................| 168.5 173.1 173.4 13.2 .2 0 -.1 .2 11-73 | Motors, generators, motor generator sets............| 148.5 151.2 151.0 2.5 -.1 1.2 .2 -.2 11-75 | Switchgear, switchboard, etc., equipment............| 162.9 164.5 164.6 3.0 .1 .4 1.0 .2 11-78 | Electronic components and accessories 2/............| 89.6 89.7 89.6 -1.1 -.1 -.3 .1 -.1 11-94 | Internal combustion engines 2/......................| 145.7 145.9 145.7 .1 -.1 0 .1 -.1 11-95 | Machine shop products 2/............................| 143.8 144.9 145.6 3.6 .5 .3 .8 .5 13-11 | Flat glass 2/.......................................| 108.5 108.4 108.6 -2.1 .2 -.3 .4 .2 13-22 | Cement..............................................| 154.0 155.8 159.4 4.8 2.3 -.1 .2 2.3 13-3 | Concrete products...................................| 158.4 160.2 161.6 5.2 .9 .8 .4 .9 13-6 | Asphalt felts and coatings..........................| 116.5 118.1 117.9 -.1 -.2 -1.9 1.4 0 13-7 | Gypsum products 2/..................................| 188.0 205.0 209.3 23.6 2.1 4.3 2.9 2.1 13-8 | Glass containers 2/.................................| 143.8 144.3 144.3 2.3 0 -.1 .2 0 14-12 | Motor vehicle parts 2/..............................| 111.5 112.0 112.4 .6 .4 -.1 0 .4 14-23 | Aircraft engines & engine parts (Dec. 1985=100).....| 162.8 161.7 163.6 6.6 1.2 .1 .3 1.6 14-25 | Aircraft parts & aux.equip.,nec (June 1985=100) 2/..| 152.0 150.4 150.4 -.1 0 -.3 0 0 15-42 | Photographic supplies 2/............................| 115.3 115.3 115.3 -.9 0 -1.4 0 0 15-6 | Medical/surgical/personal aid devices 2/............| 157.7 158.1 157.2 1.6 -.6 -.1 .2 -.6 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 155.7 162.0 160.7 22.4 -.8 1.6 -.2 -.7 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 135.4 131.0 124.7 11.8 -4.8 -3.6 -4.8 -4.6 | | 01-21 | Wheat 2/............................................| 110.8 103.8 95.3 -3.1 -8.2 -4.1 -2.4 -8.2 01-22-02 | Corn 2/.............................................| 121.9 97.6 91.2 2.7 -6.6 -5.4 -11.6 -6.6 01-31 | Slaughter cattle 2/.................................| 130.2 126.8 128.2 9.5 1.1 .2 -3.4 1.1 01-32 | Slaughter hogs......................................| 79.9 97.9 97.9 34.1 0 -4.7 4.6 3.2 01-41-02 | Slaughter broilers/fryers...........................| 196.7 211.1 195.2 26.9 -7.5 4.1 -5.3 -4.0 01-42 | Slaughter turkeys...................................| 110.7 126.1 131.1 43.1 4.0 2.6 3.3 1.5 01-6 | Fluid milk..........................................| 136.8 121.1 112.9 14.0 -6.8 -10.1 -13.5 -10.8 01-83-01-31| Soybeans 2/.........................................| 165.9 153.7 99.1 2.6 -35.5 -13.5 -.5 -35.5 02-52-01-03| Cane sugar, raw (Dec. 2003=100) 2/..................| 100.4 99.5 97.9 (3) -1.6 -3.7 2.8 -1.6 | | | CRUDE NONFOOD MATERIALS..............................| 166.6 181.3 183.9 28.9 1.4 5.1 2.7 1.3 | | 01-51 | Raw cotton 2/.......................................| 88.4 74.3 72.1 -15.2 -3.0 -13.6 -15.5 -3.0 01-92 | Leaf tobacco 2/.....................................| 38.8 (3) 100.8 -5.5 (3) (3) (3) (3) 04-1 | Hides and skins (June 2001=100) 2/..................| 180.0 189.7 192.7 4.3 1.6 .2 5.4 1.6 05-1 | Coal 2/.............................................| 111.1 108.7 108.8 9.9 .1 .1 -.9 .1 05-31 | Natural gas 2/......................................| 218.7 259.6 242.1 23.9 -6.7 17.0 -2.0 -6.7 05-61 | Crude petroleum 2/..................................| 98.4 104.8 117.9 40.7 12.5 -5.5 5.3 12.5 08-5 | Logs, timber, etc...................................| 191.1 196.0 194.5 7.3 -.8 2.5 1.1 -1.0 09-12 | Wastepaper 2/.......................................| 231.3 234.2 237.0 21.1 1.2 .5 .8 1.2 10-11 | Iron ore 2/.........................................| 96.9 98.3 98.4 2.0 .1 0 -1.7 .1 10-12 | Iron and steel scrap................................| 302.6 334.5 366.4 100.0 9.5 .6 32.2 7.7 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 112.4 111.8 118.9 50.7 6.4 .8 4.9 6.4 10-23-01 | Copper base scrap 2/................................| 196.7 183.3 186.0 46.9 1.5 -5.5 3.3 1.5 10-23-02 | Aluminum base scrap.................................| 204.8 190.5 191.7 14.9 .6 -.6 3.7 2.5 13-21 | Construction sand, gravel, and crushed stone........| 182.4 184.1 184.1 3.8 0 .2 .8 .2 ____________________________________________________________________________________________________________________________________ 1/ The indexes for April 2004 have been recalculated to incorporate 2/ Not seasonally adjusted. late reports and corrections by respondents. All indexes are subject 3/ Not available. to revision 4 months after original publication. Table 3. Producer price indexes for selected commodity groupings (1982=100 unless otherwise indicated) _______________________________________________________________________________________________ | | | | | Unadjusted index 1/ | Commodity| |___________________________________| code | Grouping |April 2004 | July 2004 | Aug. 2004 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 413.5 | 417.3 | 416.9 | | All commodities................................| 144.8 | 147.6 | 147.9 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 145.6 | 143.5 | 140.5 | 01 | Farm products................................| 129.6 | 123.2 | 118.7 | 02 | Processed foods and feeds....................| 153.3 | 153.5 | 151.4 | | | | | | | Industrial commodities.........................| 144.8 | 148.4 | 149.3 | 03 | Textile products and apparel.................| 120.5 | 120.9 | 120.8 | 04 | Hides, skins, leather, and related products..| 163.1 | 164.6 | 165.1 | 05 | Fuels and related products and power.........| 120.4 | 129.4 | 130.1 | 06 | Chemicals and allied products 2/.............| 170.1 | 172.8 | 175.9 | 07 | Rubber and plastic products..................| 132.0 | 133.6 | 134.0 | 08 | Lumber and wood products.....................| 197.7 | 196.5 | 202.5 | 09 | Pulp, paper, and allied products.............| 193.9 | 196.2 | 197.1 | 10 | Metals and metal products....................| 146.5 | 152.5 | 154.6 | 11 | Machinery and equipment......................| 122.0 | 122.4 | 122.5 | 12 | Furniture and household durables.............| 134.0 | 135.0 | 135.5 | 13 | Nonmetallic mineral products.................| 151.1 | 153.4 | 154.2 | 14 | Transportation equipment.....................| 147.7 | 148.1 | 147.6 | 15 | Miscellaneous products.......................| 182.1 | 183.0 | 183.3 | | | | | | | Industrial commodities less fuels and related | | | | | products and power...........................| 150.0 | 151.8 | 152.7 | | | | | | | | | | | | OTHER COMMODITY GROUPINGS | | | | | | | | | 01-1 | Fruits and melons, fresh and dry vegetables, | | | | | and tree nuts................................| 112.4 | 100.4 | 111.7 | 01-2 | Grains.........................................| 117.6 | 99.0 | 92.1 | 01-3 | Slaughter livestock............................| 117.4 | 119.9 | 120.9 | 01-4 | Slaughter poultry..............................| 176.8 | 191.2 | 179.6 | 01-5 | Plant and animal fibers........................| 89.5 | 75.4 | 73.2 | 01-7 | Chicken eggs...................................| 141.6 | 100.9 | 97.1 | 01-8 | Hay, hayseeds, and oilseeds....................| 181.8 | 172.7 | 123.6 | 01-83 | Oilseeds.......................................| 176.3 | 164.4 | 109.7 | 01-9 | Other farm products............................| 57.9 | 'N.A.' | 150.4 | 02-1 | Cereal and bakery products.....................| 173.7 | 174.4 | 174.3 | 02-2 | Meats, poultry, and fish.......................| 140.3 | 142.8 | 140.7 | 02-22 | Processed poultry..............................| 133.6 | 136.2 | 131.5 | 02-5 | Sugar and confectionery........................| 149.7 | 150.5 | 150.4 | 02-6 | Beverages and beverage materials...............| 154.5 | 153.2 | 154.6 | 02-63 | Packaged beverage materials....................| 130.6 | 130.8 | 130.9 | 02-7 | Fats and oils..................................| 191.2 | 191.3 | 193.1 | 03-81 | Apparel........................................| 125.5 | 124.8 | 124.7 | 04-4 | Other leather and related products.............| 149.0 | 149.4 | 149.5 | 05-3 | Gas fuels......................................| 203.2 | 240.5 | 230.9 | 05-4 | Electric power.................................| 139.9 | 146.1 | 148.2 | 05-7 | Refined petroleum products.....................| 114.2 | 122.0 | 122.9 | 06-3 | Drugs and pharmaceuticals......................| 284.1 | 285.3 | 285.7 | 06-5 | Agricultural chemicals and products............| 144.0 | 142.0 | 143.4 | 06-7 | Other chemicals and allied products............| 142.5 | 143.6 | 143.4 | 07-1 | Rubber and rubber products.....................| 121.5 | 123.4 | 123.8 | 07-11 | Rubber, except natural rubber..................| 127.2 | 130.7 | 133.1 | 07-13 | Miscellaneous rubber products..................| 141.3 | 142.8 | 143.0 | 07-2 | Plastic products...............................| 140.2 | 141.7 | 142.2 | 08-1 | Lumber.........................................| 206.6 | 208.1 | 220.2 | 09-1 | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 158.2 | 163.4 | 164.7 | 09-15 | Converted paper and paperboard products........| 164.2 | 168.0 | 169.9 | 10-1 | Iron and steel.................................| 154.4 | 169.4 | 174.6 | 10-2 | Nonferrous metals..............................| 145.1 | 146.3 | 147.2 | 10-25 | Nonferrous mill shapes.........................| 148.2 | 154.1 | 154.8 | 11-3 | Metalworking machinery and equipment...........| 151.7 | 152.6 | 152.8 | 11-4 | General purpose machinery and equipment........| 158.7 | 160.5 | 161.1 | 11-6 | Special industry machinery.....................| 170.0 | 170.8 | 170.6 | 11-7 | Electrical machinery and equipment.............| 113.7 | 113.8 | 113.8 | 11-9 | Miscellaneous machinery and equipment..........| 140.1 | 140.8 | 140.9 | 12-6 | Other household durable goods..................| 159.2 | 160.0 | 160.0 | 13-2 | Concrete ingredients...........................| 168.8 | 170.5 | 171.9 | 14-1 | Motor vehicles and equipment...................| 130.3 | 130.4 | 129.3 | 15-1 | Toys, sporting goods, small arms, etc..........| 131.9 | 132.2 | 132.8 | 15-4 | Photographic equipment and supplies............| 102.9 | 102.7 | 102.6 | 15-9 | Other miscellaneous products...................| 142.5 | 142.8 | 143.0 | __________________________________________________________|___________|___________|___________| 1/ Data for April 2004 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 selected industries and industry groups, not seasonally adjusted __________________________________________________________________________________________________________________ | | | Index | Percent change Industry | Industry 1/ |Index|_______________________|to_Aug._2004_from: code | |base | | | | | | | |Apr. |July |Aug. | Aug. | July | | |2004 2/|2004 2/|2004 2/| 2003 | 2004 __________________|______________________________________________|_____|_______|_______|_______|________|_________ | | | |Total mining industries...................... |12/84| 140.9 155.2 157.2 25.3 1.3 211 | Oil and gas extraction...................... |12/85| 171.7 196.9 198.7 31.5 .9 212 | Mining (except oil & gas)................... |12/03| 108.5 108.5 110.2 (3) 1.6 213 | Mining support activities................... |12/03| 101.0 103.5 105.5 (3) 1.9 | | | |Total manufacturing industries............... |12/84| 141.8 143.4 143.7 4.9 .2 311 | Food mfg.................................... |12/84| 146.1 146.7 144.4 4.8 -1.6 312 | Beverage & tobacco mfg...................... |12/03| 101.5 100.9 101.4 (3) .5 313 | Textile mills............................... |12/03| 100.7 101.6 101.6 (3) 0 314 | Textile product mills....................... |12/03| 100.2 101.9 102.4 (3) .5 315 | Apparel Manufacturing....................... |12/03| 99.9 99.6 99.6 (3) 0 316 | Leather & allied product mfg................ |12/84| 143.5 143.6 143.7 .6 .1 321 | Wood products manufacturing................. |12/03| 108.1 106.7 109.9 (3) 3.0 322 | Paper manufacturing......................... |12/03| 100.1 103.4 104.2 (3) .8 323 | Printing and related support activities..... |12/03| 100.8 101.3 101.5 (3) .2 324 | Petroleum and coal products mfg............. |12/84| 141.9 152.0 155.6 25.5 2.4 325 | Chemical mfg................................ |12/84| 169.7 172.0 173.2 5.5 .7 326 | Plastics and rubber products mfg............ |12/84| 130.0 131.4 131.8 2.4 .3 327 | Nonmetallic mineral product mfg............. |12/84| 140.9 143.1 143.7 4.1 .4 331 | Primary metal mfg........................... |12/84| 138.4 147.6 149.1 26.6 1.0 332 | Fabricated metal product mfg................ |12/84| 139.4 142.6 143.7 8.1 .8 333 | Machinery mfg............................... |12/03| 101.3 102.1 102.2 (3) .1 334 | Computer & electronic product mfg........... |12/03| 99.5 99.0 98.9 (3) -.1 335 | Electrical equip, appliance & component mfg. |12/03| 102.7 103.7 103.8 (3) .1 336 | Transportation equipment mfg................ |12/03| 100.2 100.4 99.9 (3) -.5 337 | Furniture & related product mfg............. |12/84| 149.7 152.1 152.7 3.5 .4 339 | Miscellaneous mfg........................... |12/03| 101.0 101.3 101.0 (3) -.3 | | | |Retail trade industries | | 441 | Motor vehicle and parts dealers............. |12/03| 103.8 104.0 103.4 (3) -.6 442 | Furniture and home furnishings stores....... |12/03| 102.0 102.5 103.0 (3) .5 443 | Electronics and appliance stores............ |12/03| 101.2 99.9 98.8 (3) -1.1 444 | Bldg material and garden equip and supp | | | dealers.................................... |12/03| 107.7 111.9 111.7 (3) -.2 445 | Food and beverage stores.................... |12/99| 122.6 125.1 122.4 2.3 -2.2 446 | Health and personal care stores............. |12/03| 97.4 99.5 101.5 (3) 2.0 447 | Gasoline stations........................... |06/01| 56.6 46.0 47.0 -19.9 2.2 448 | Clothing and clothing accessories stores.... |12/03| 99.2 99.0 100.6 (3) 1.6 451 | Sporting goods, hobby, book and music stores |12/03| 98.7 97.8 96.3 (3) -1.5 452 | General merchandise stores.................. |12/03| 103.3 104.1 101.8 (3) -2.2 454 | Nonstore retailers.......................... |12/03| 108.6 106.1 103.6 (3) -2.4 | | | |Transportation and warehousing | | 481 | Air transportation.......................... |12/92| 162.3 163.4 165.1 1.2 1.0 482 | Rail transportation......................... |12/96| 111.8 113.3 113.3 3.8 0 483 | Water transportation........................ |12/03| 100.1 100.4 100.5 (3) .1 484 | Truck transportation........................ |12/03| 101.6 103.2 103.6 (3) .4 486110 | Pipeline transportation of crude oil........ |06/86| 113.1 115.1 116.6 4.6 1.3 486910 | Pipeline transportation of refined petroleum | | | products................................... |06/86| 114.3 116.8 117.3 3.9 .4 488 | Transportation support activities........... |12/03| 100.5 101.2 101.5 (3) .3 491 | Postal service.............................. |06/89| 155.0 155.0 155.0 0.0 0.0 492 | Couriers and messengers..................... |12/03| 105.2 106.2 106.0 (3) -.2 | | | |Utilities | | 221 | Utilities................................... |12/03| 101.8 107.1 107.5 (3) .4 | | | |Health care and social assistance | | 6211 | Offices of physicians....................... |12/96| 114.4 114.5 114.5 1.6 0 6215 | Medical and diagnostic laboratories......... |12/03| 99.8 100.0 100.0 (3) 0 6216 | Home health care services................... |12/96| 119.7 119.9 119.8 3.1 -.1 622 | Hospitals................................... |12/92| 140.7 142.3 142.1 4.9 -.1 6231 | Nursing care facilities..................... |12/03| 101.9 102.1 102.9 (3) .8 62321 | Residential mental retardation facilities... |12/03| 99.9 99.9 100.6 (3) .7 __________________________________________________________________________________________________________________ See footnotes at end of table. Table 4. Producer price indexes for the net output of selected industries and industry groups, not seasonally adjusted -- Continued __________________________________________________________________________________________________________________ | | | Index | Percent change Industry | Industry 1/ |Index|_______________________|to_Aug._2004_from: code | |base | | | | | | | |Apr. |July |Aug. | Aug. | July | | |2004 2/|2004 2/|2004 2/| 2003 | 2004 __________________|______________________________________________|_____|_______|_______|_______|________|_________ | | | |Other services industries | | 511 | Publishing industries, except Internet...... |12/03| 101.4 101.8 101.2 (3) -.6 515 | Broadcasting, except Internet............... |12/03| 101.6 100.3 100.1 (3) -.2 517 | Telecommunications.......................... |12/03| 100.1 99.7 100.0 (3) .3 5182 | Data processing and related services........ |12/03| 98.5 99.0 99.0 (3) 0 523 | Security, commodity contracts and like | | | activity................................... |12/03| 102.3 102.5 102.3 (3) -.2 524 | Insurance carriers and related activities... |12/03| 101.6 102.1 102.2 (3) .1 53112 | Lessors of nonres bldg (exc miniwarehouse).. |12/03| 101.0 103.2 105.2 (3) 1.9 5312 | Offices of real estate agents and brokers... |12/03| 100.8 101.1 101.1 (3) 0 5321 | Automotive equipment rental and leasing..... |06/01| 106.0 109.7 111.0 3.2 1.2 5411 | Legal services.............................. |12/96| 131.8 132.0 131.9 5.2 -.1 541211 | Offices of certified public accountants..... |12/03| 101.1 101.3 101.6 (3) .3 5413 | Architectural, engineering and related | | | services................................... |12/96| 126.6 126.9 126.9 2.2 0 54181 | Advertising agencies........................ |12/03| 99.9 100.3 100.7 (3) .4 5613 | Employment services......................... |12/96| 113.1 114.8 114.8 2.8 0 56151 | Travel agencies............................. |12/03| 98.7 96.1 95.4 (3) -.7 56172 | Janitorial services......................... |12/03| 100.5 100.8 101.6 (3) .8 5621 | Waste collection............................ |12/03| 101.3 101.3 101.3 (3) 0 721 | Accommodation |12/96| 124.8 128.6 128.6 4.8 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 April 2004 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. 3/ Not available. Note: NAICS 2002 replaced the SIC system beginning with the release of PPI data for January 2004. Table 5. Producer price indexes by stage of processing, seasonally adjusted (1982=100) _____________________________________________________________________________________________________________ | | Index 1/ |_____________________________________________________ Grouping | | | | | | | Mar. | Apr. | May | June | July | Aug. | 2004 | 2004 | 2004 | 2004 | 2004 | 2004 _______________________________________________________|________|________|________|________|________|________ | Finished goods...................................| 146.7 147.7 148.8 148.4 148.5 148.4 Finished consumer goods........................| 149.6 150.9 152.2 151.4 151.6 151.4 Finished consumer foods......................| 151.2 153.1 155.2 154.3 151.8 151.5 Crude......................................| 146.6 132.9 131.6 117.3 118.2 126.7 Processed..................................| 151.5 154.8 157.2 157.4 154.6 153.6 Finished consumer goods, excluding foods.....| 148.6 149.6 150.6 150.0 151.1 151.0 Nondurable goods less foods................| 153.5 155.1 156.1 154.8 156.5 156.8 Durable goods..............................| 134.5 134.2 135.1 135.8 135.8 134.9 Capital equipment..............................| 140.4 140.5 141.3 141.6 141.7 141.6 Manufacturing industries.....................| 141.3 141.8 142.1 142.6 142.8 142.8 Nonmanufacturing industries..................| 140.0 140.0 140.9 141.2 141.2 141.1 | Intermediate materials, supplies, and components.| 138.5 140.4 141.7 142.4 143.5 144.9 Materials and components for manufacturing.....| 134.3 136.2 137.3 138.0 138.6 139.6 Materials for food manufacturing.............| 142.4 147.2 152.0 151.8 147.2 144.4 Materials for nondurable manufacturing.......| 141.3 143.5 144.6 145.6 147.1 149.6 Materials for durable manufacturing..........| 140.8 144.3 146.2 147.8 149.3 150.9 Components for manufacturing.................| 126.5 127.0 127.4 127.6 127.8 128.1 Materials and components for construction......| 162.0 164.6 165.9 167.1 167.5 169.8 Processed fuels and lubricants.................| 117.6 119.7 121.4 122.3 125.2 128.9 Manufacturing industries ....................| 119.2 120.9 121.6 124.8 126.2 130.2 Nonmanufacturing industries..................| 116.5 119.0 121.2 120.8 124.7 128.1 Containers.....................................| 154.1 154.9 156.8 158.0 159.5 161.4 Supplies.......................................| 144.8 146.4 147.2 147.3 148.0 147.5 Manufacturing industries.....................| 147.5 147.8 148.0 148.8 149.3 149.6 Nonmanufacturing industries..................| 142.9 144.8 145.8 145.7 146.5 145.7 Feeds......................................| 125.3 134.9 137.7 128.3 131.7 115.1 Other supplies.............................| 145.5 146.7 147.5 148.3 148.9 149.7 | Crude materials for further processing...........| 153.1 155.9 158.7 161.3 161.0 159.8 Foodstuffs and feedstuffs......................| 132.3 136.6 140.5 135.4 128.9 123.0 Nonfood materials..............................| 164.6 166.2 167.9 176.5 181.3 183.7 Nonfood materials except fuel 2/.............| 143.5 140.8 140.4 136.9 146.6 157.8 Manufacturing 2/...........................| 132.4 129.8 129.5 126.1 135.2 145.7 Construction...............................| 189.3 189.4 190.1 192.7 194.5 194.6 Crude fuel 3/................................| 182.9 191.8 197.1 225.8 221.5 208.4 Manufacturing industries...................| 174.2 182.6 187.4 213.9 209.8 197.7 Nonmanufacturing industries................| 187.0 196.1 201.5 231.0 226.6 213.1 | Special groupings | | Finished goods, excluding foods..................| 145.3 146.0 146.9 146.6 147.4 147.3 Intermediate materials less foods and feeds......| 138.6 140.4 141.5 142.4 143.7 145.5 Intermediate foods and feeds.....................| 137.5 143.9 148.0 144.8 142.8 135.4 Crude materials less agricultural products 2/....| 167.1 170.0 171.6 180.9 186.2 188.0 | Finished energy goods............................| 108.8 110.8 112.3 110.5 113.0 113.2 Finished goods less energy.......................| 151.4 152.0 153.0 153.0 152.4 152.2 Finished consumer goods less energy..............| 156.2 157.0 158.2 157.9 157.1 156.8 | Finished goods less foods and energy.............| 151.8 152.0 152.6 152.9 153.0 152.8 Finished consumer goods less foods and energy....| 159.6 159.8 160.3 160.5 160.6 160.3 Consumer nondurable goods less foods and energy..| 179.8 180.4 180.6 180.3 180.6 180.9 | Intermediate energy goods........................| 116.5 118.6 120.4 121.3 124.1 127.5 Intermediate materials less energy...............| 142.4 144.3 145.4 146.1 146.7 147.6 Intermediate materials less foods and energy.....| 142.9 144.5 145.5 146.3 147.1 148.5 | Crude energy materials 2/........................| 153.0 158.8 165.3 178.0 178.3 178.1 Crude materials less energy......................| 148.3 149.1 149.5 145.6 144.9 143.1 Crude nonfood materials less energy 3/...........| 194.6 186.3 177.1 176.2 191.4 200.1 _____________________________________________________________________________________________________________ 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 April 2004 have been recalculated to incorporate late reports and corrections by respondents. 2/ Includes crude petroleum. 3/ Excludes crude petroleum. Technical Note Brief Explanation of Producer Prices Indexes The Producer Price Index (PPI) of the Bureau of Labor Statistics (BLS) is a family of indexes that measure the average change over time in the prices received by domestic producers of goods and services. PPIs measure price change from the perspective of the seller. This contrasts with other measures, such as the Consumer Price Index (CPI). CPIs measure price change from the purchaser's perspective. Sellers' and purchasers' prices can differ due to government subsidies, sales and excise taxes, and distribution costs. More than 8,000 PPIs for individual products and groups of products are released each month. PPIs are available for the products of virtually every industry in the mining and manufacturing sectors of the U.S. economy. New PPIs are gradually being introduced for the products of industries in the trade, finance, and services sectors of the economy. More than 100,000 price quotations per month are organized into three sets of PPIs: (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 organizes products by class of buyer and degree of fabrication. The commodity structure 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. Stage-of-Processing Indexes 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, as well as 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. Commodity Indexes The commodity classification structure of the PPI organizes products by similarity of end use or material composition, disregarding industry of origin. Fifteen major commodity groupings (2-digit commodity codes) make up the All Commodities Index. Each major commodity grouping includes (in descending order of aggregation) subgroups (3-digit), product classes (4- digit), subproduct classes (6-digit), and individual items (8-digit). Nearly all 8-digit commodities under the traditional commodity coding system are now derived from corresponding industry-classified product indexes. In such instances, movements in the traditional commodity price indexes and corresponding percent changes will be virtually identical to their industry-based counterparts, even if their index levels differ. Industry Net-Output Price Indexes PPIs for the net output of industries and their products are grouped according to the North American Industry Classification System (NAICS). Prior to the release of January 2004, industry-based PPIs were published according to the Standard Industrial Classification (SIC) system. Industry price indexes are compatible with other economic time series organized by industry, such as data on employment, wages, and productivity. Table 5 of the PPI Detailed Report includes data for NAICS industries and industry groups (3-, 4-, 5-, and 6-digit codes); Census product classes (7- and 8-digits), products (9-digits), and more detailed subproducts (11-digits); and, for some industries, indexes for other sources of revenue. Indexes may represent one of three kinds of product indexes. Every industry has primary product indexes to show changes in prices received by establishments classified in the industry for products made primarily, but not necessarily exclusively, by that industry. The industry classification of an establishment is determined by which products comprise a plurality of its total shipment value. In addition, most industries have secondary product indexes that show changes in prices received by establishments classified in the industry for products chiefly made in some other industry. Finally, some industries have miscellaneous receipts indexes to show price changes in other sources of revenue received by establishments within the industry that are not derived from sales of their products, for example, resales of purchased materials, or revenues from parking lots owned by a manufacturing plant. Data Collection PPIs 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. The BLS strongly encourages cooperating companies to supply actual transaction prices at the time of shipment to minimize the use of list prices. Prices submitted by survey respondents are effective on the Tuesday of the week containing the 13th day of the month. This survey is conducted primarily through the mail. Price data are provided on a voluntary and confidential basis; only sworn BLS employees are allowed access to individual company price reports. BLS publishes price indexes instead of unit dollar prices. All PPIs are subject to revision 4 months after original publication to reflect the availability of late reports and corrections by respondents. BLS periodically updates the PPI sample of survey respondents to better reflect current conditions when the structure, membership, technology, or product mix of an industry shifts significantly and to spread reporting burden among smaller firms. Results of these resampling efforts are incorporated into the PPI with the release of data for January and July. As part of an ongoing effort to expand coverage to sectors of the economy other than mining and manufacturing, an increasing number of service sector industries have been introduced into the PPI. The following list of recently introduced industries includes the month and year in which an article describing the industry's content appeared in the PPI Detailed Report. PPI Detailed Title Code Report Issue SIC Wireless Telecommunications..............................4812 July 1999 Telephone Communications, Except Radio Telephone.........4813 July 1995 Television Broadcasting..................................4833 July 2002 Grocery Stores...........................................5411 July 2000 Meat and Fish (Seafood) Markets..........................5421 July 2000 Fruit and Vegetable Markets..............................5431 July 2000 Candy, Nut, and Confectionery Stores.....................5441 July 2000 Retail Bakeries..........................................5461 July 2000 Miscellaneous Food Stores................................5499 July 2000 New Car Dealers..........................................5511 July 2000 Gasoline Service Stations................................5541 January 2002 Boat Dealers.............................................5551 January 2002 Recreational Vehicle Dealers.............................5561 January 2002 Miscellaneous Retail.....................................59 January 2001 Security Brokers, Dealers, and Investment Bankers........6211 January 2001 Investment Advice........................................6282 January 2003 Life Insurance Carriers..................................6311 January 1999 Property and Casualty Insurance..........................6331 July 1998 Insurance Agencies and Brokerages........................6412 January 2003 Operators and Lessors of Nonresidential Buildings........6512 January 1996 Real Estate Agents and Managers..........................6531 January 1996 Prepackaged Software.....................................7372 January 1998 Data Processing Services.................................7374 January 2002 Home Health Care Services................................8082 January 1997 Legal Services...........................................8111 January 1997 Engineering Design, Analysis, and Consulting Services....8711 January 1997 Architectural Design, Analysis, and Consulting Services..8712 January 1997 Premiums for Property and Casualty Insurance.............9331 July 1998 NAICS Furniture and Home Furnishings Stores....................442 January 2004 Electronics and Appliance Stores.........................443 January 2004 Building Material and Garden Equipment and Supplies Dealers..................................................444 January 2004 Clothing and Clothing Accessories Stores.................448 January 2004 Sporting Goods, Hobby, Book, and Music Stores............451 January 2004 General Merchandise Stores...............................452 January 2004 Miscellaneous Store Retailers............................453 January 2004 Direct Health and Medical Insurance Carriers.............524114 July 2004 Weights Weights for most traditional commodity groupings of the PPI, as well as weights for commodity-based aggregate indexes calculated using traditional commodity groupings, such as stage-of-processing indexes, currently reflect 1997 values of shipments as reported in the Census of Manufactures and other sources. From January 1996 through December 2001, PPI weights were derived from 1992 shipment values. Industry indexes also are now calculated with 1997 net output weights. This periodic update of the value weights used to calculate the PPI is done to more accurately reflect changes in production and marketing patterns in the economy. Net output values of shipments are used as weights for industry indexes. Net output values refer to the value of shipments from establishments within the industry to buyers outside the 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 PPI for All Commodities, 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. Price Index Reference Base Effective with publication of January 1988 data, many important PPI series (including stage-of-processing groupings and most commodity groups and individual items) were placed on a new reference base, 1982=100. From 1971 through 1987, the standard reference base for most PPI series was 1967=100. Except for rounding differences, the shift to the new reference base did not alter any previously published percent changes for affected PPI series. (See "Calculating Index Changes," below.) The 1982 reference base is not used for commodity indexes with a base later than December 1981 or for industry net output indexes and their products. For further information on the underlying concepts and methodology of the Producer Price Index, see chapter 14, "Producer Prices," in BLS Handbook of Methods (April 1997), Bulletin 2490. This document can be downloaded from the BLS Web site at (http://www.bls.gov/opub/hom/homch14_itc.htm), and reprints are available on request. Calculating Index Changes Each PPI measures price changes from a reference period which equals 100.0. 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 also can be expressed in dollars, as follows: Prices received by domestic producers of a sample of finished goods have risen from $100 in 1982 to $105.50. Likewise, a current index of 90.0 would indicate that prices received by producers of finished goods are 10 percent lower than they were in 1982. Movements of price indexes from one month to another are usually expressed as percent changes, rather than as changes in index points. Index point changes are affected by the level of the index in relation to its base period, whereas percent changes are not. The following example shows the computation of index point and percent changes. Index point change Finished Goods Price Index 107.5 Less previous index 104.0 Equals index point change 3.5 Index percent change Index point change 3.5 Divided by the previous index 104.0 Equals 0.034 Result multiplied by 100 0.034 x 100 Equals percent change 3.4 Seasonally Adjusted and Unadjusted Data Because price data are used for different purposes by different groups, BLS publishes seasonally adjusted and unadjusted changes each month. Seasonally adjusted data are preferred for analyzing general price trends in the economy, because these data eliminate the effect of changes that normally occur at about the same time, and in about the same magnitude, every year-such as price movements resulting from normal weather patterns, regular production and marketing cycles, model changeovers, seasonal discounts, and holidays. For these reasons, seasonally adjusted data more clearly reveal underlying cyclical trends. Unadjusted data are of primary interest to users who need information that can be related to actual dollar values of transactions. Individuals requiring this information include marketing specialists, purchasing agents, budget and cost analysts, contract specialists, and commodity traders. It is the unadjusted data that are generally cited when 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 the BLS.) In 1998, the PPI implemented the X-12-ARIMA Seasonal Adjustment Method; prior to that year the PPI employed the X-11 method. Each year, the seasonal status of most commodity indexes is re-evaluated to reflect more recent price behavior. Industry net output indexes are not seasonally adjusted. For time series that exhibit seasonal pricing patterns, new seasonal factors are estimated and applied to the unadjusted data for the previous 5 years. These updated seasonally adjusted indexes replace the most recent 5 years of seasonal data. Seasonal factors may be applied to series using either a direct or aggregative method. Generally, commodity indexes are seasonally adjusted using direct seasonal adjustment, which produces a more complete elimination of seasonal movements than the aggregative method. However, the direct seasonal adjustment process may not yield figures that possess additive consistency. Thus, a seasonally adjusted index for a broad category that is directly adjusted may not be logically consistent with all seasonally adjusted indexes for its components. Seasonal movements for stage-of-processing indexes are derived indirectly through an aggregative method that combines movements of a wide variety of subproduct class (6- digit) series. Seasonally adjusted indexes can become problematic when previously stable and predictable price patterns abruptly change. If the new pattern persists, the seasonal adjustment method will eventually reflect it adequately; if these patterns keep shifting, however, seasonally adjusted data will become chronically troublesome. This problem occurs relatively infrequently for farm and food-related products but has more often affected manufactured products such as automobiles and steel. Since January 1988, the PPI has used Intervention Analysis Seasonal Adjustment methods to enhance the calculation of seasonal factors. With this technique, outlier values that may distort the seasonal pattern are removed from the data prior to applying the standard seasonal factor estimation procedure. For example, a possible economic cause for large price movements for petroleum-based products might have been the Persian Gulf War. In this case, intervention techniques allowed for better estimates of seasonally adjusted data. On the whole, very few series have required intervention. Out of nearly 900 seasonally adjusted series, only 16 interventions were performed in 1997. For more information relating to seasonal adjustment methods, see (1) "Appendix A: Seasonal Adjustment Methodology at BLS," in the BLS Handbook of Methods (April 1997), Bulletin 2490 and (2) "Summary of Changes to the PPI's Seasonal Adjustment Methodology" in the January 1995 issue of Producer Price Indexes. Producer Price Index Data Via the Internet In 1995, the BLS began posting PPI series, news releases, and technical information to both a World Wide Web (WWW) site and a file transfer protocol (FTP) site. During the years following the introduction of PPI Internet services, usage of these sites eclipsed more traditional methods of data dissemination, such as subscriptions to the PPI Detailed Report. There were more than 1.6 million accesses of PPI series over the Internet during the 12 months ended December 31, 2003. Retrieving PPI data from the PPI Website PPI data can be obtained from the WWW address (http://www.bls.gov/ppi). Scrolling down the page to the "Get Detailed Statistics" header reveals the following 5 methods of data retrieval: Most Requested Series is a form-based application that allows the user to quickly obtain PPI time series data by selecting from two separate lists (commodity and industry) of the most commonly requested time series, including the All Commodities Index and the stage-of-processing indexes (for example, Finished Goods). Within each list, any one-or all-of the time series shown can be selected. A user can modify the date range and output options after executing the query, using the reformat button above the data output table. Create Customized Tables is a form-based query application designed for users unfamiliar with the PPI coding structure. It guides a user through the PPI classification system by listing index titles and does not require knowledge of commodity or industry codes. Data retrieved are based on a query formulated by selecting data characteristics from lists provided. Two options are available to create customized tables, depending on a user's browser capability. The one-screen option is a JavaScript application that uses a single screen to guide a user through the available time series data. The second option is a multiple screen, nonJava-based application. Both methods allow a user to browse the PPI coding structure and select multiple series codes. Using the one-screen option, users can modify the date range and output options after executing the query using the reformat button above the data output table. Series Report is a form-based application that uses formatted PPI time series identifiers (commodity or industry codes) as input in extracting data according to a specified set of date ranges and output options. This application provides the most efficient path for those users who are familiar with the format of PPI time series identifiers. Up to 300 indexes can be extracted at one time. There are three basic formats for creating a unique PPI time series identifier. For commodity and stage-of-processing indexes, enter a "wpu" prefix (not seasonally adjusted) or a "wps" prefix (seasonally adjusted) in combination with a commodity-based code to create a series identifier. Commodity code Will provide data for: wps063 Drugs and pharmaceuticals, seasonally adjusted wpu063803 Pharmaceutical preparations, cardiovascular system wpusop3000 Finished goods, not seasonally adjusted For a current industry-based price index organized according to the North American Industry Classification System (NAICS), enter the prefix "pcu" followed by the industry-product code. The series identifier for products primary to an industry include 12 numeric digits, the six-digit industry code is repeated, and up to seven additional digits of product detail. Dashes are used as place holders for higher-level industry group codes. Industry-product code, Will provide data for: Current NAICS series pcu325---325--- Chemical manufacturing, not seasonally adjusted pcu336110336110 Automobile and light duty motor vehicle manufacturing pcu621111621111411 Offices of physicians, one and two physician practices and single specialty group practices, general/family practices To identify a discontinued industry-product code based on the Standard Industrial Classification (SIC), enter a "pdu" prefix and "#" between the fourth and fifth characters of the product code. A series identifier for the discontinued dataset uses underscores as placeholders to complete a reference to an SIC industry group code of less than four digits. (All PPI industry-based indexes organized by SIC were discontinued with the introduction of the NAICS.) In all cases, no spaces are permitted. Industry-product code, Will provide data for: Discontinued SIC series pdu28__# Chemicals and allied products, not seasonally adjusted pdu331_# Blast furnaces, steel works, and rolling and finishing mills, not seasonally adjusted pdu3711#111 Passenger cars Flat Files and the FTP server are best suited for those users requiring access to either a large volume of time series data or other PPI-related documentation (such as, seasonal factor and relative importance tables). The FTP site can be accessed at (ftp://ftp.bls.gov) or directly from the links on the "Get Detailed Statistics" page or the PPI homepage. Data and documentation available for download include: Data/Documentation Directory: NAICS Current Series /pub/time.series/pc SIC Discontinued Series /pub/time.series/pd Commodity Series /pub/time.series/wp Special Requests /pub/special.requests/ppi Latest News Release /pub/news.release/ppi.txt The FTP site maintains files to help with searches and downloads. These files are centrally located in the /pub/doc directory. Within this directory, go to the overview.txt file for an overview relating to all BLS data available through the FTP site. For commodity-based PPI data (which appear in tables 1, 2, 3, 6, 7, and 8 of the PPI monthly detailed report and tables 1, 2, 3, and 5 of the monthly news release), the program help file is wp.txt. For current industry-based PPI data based on the NAICS (which appear in tables 4, 5, and 9 of the monthly PPI report and table 4 of the monthly news release), the file is pc.txt. For industry-based SIC time series that have been discontinued, go to pd.txt. (These and other help files are also maintained within each of the five directories listed above.) Other Sources of PPI Data PPI data can also be accessed via the BLS homepage (http://www.bls.gov). After clicking the "Get Detailed Statistics" link at the top of the homepage a chart appears listing all of the available BLS programs. The following four methods are available for PPI data: Most requested statistics, create customized tables (one screen or multiple screens), and flat files. Additional sources of BLS data also are accessible from this page including: Economic news releases, series report, and economy at a glance. Additional information The PPI homepage (http://www.bls.gov/ppi) contains additional information regarding PPI data and methodology. The top section of the homepage provides PPI news releases, both current and archived, as well as general PPI information. The "Tables Created by BLS" section found beneath the statistics section provides relative importance and seasonal factor tables. The remaining sections offer special notices and publications pertaining to PPI methodology and applications. For questions or comments regarding PPI data classification, methodology, or data availability on the Internet, call or e-mail the Section of Index Analysis and Public Information directly at (202) 691-7705 or ppi-info@bls.gov. Data also can be obtained by calling the national fax- on-demand service at (202) 691-6325. This service enables customers to request faxes of BLS data 24 hours a day, 7 days a week.