FOR DATA ONLY: (202) 606-7828 USDL 98-419 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), THURSDAY, http://stats.bls.gov/ppihome.htm OCTOBER 15, 1998 Producer Price Indexes -- September 1998 The Producer Price Index for Finished Goods increased 0.3 percent in September, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This followed a decrease of 0.4 percent in August. The index for finished goods other than foods and energy advanced 0.4 percent in September, after edging down 0.1 percent in August; increases in the seasonally adjusted indexes for passenger cars and light motor trucks accounted for three-fourths of the September advance. Prices received by producers of intermediate goods declined 0.2 percent, following a 0.3-percent decrease in the prior month. The crude goods index fell 1.6 percent, after a 2.7-percent decline in August. (See table A.) Among finished goods in September, the index for finished consumer goods other than foods and energy advanced, after showing no change in the prior month. Prices for finished consumer foods and capital equipment rose, following decreases in the previous month. Prices for finished energy goods fell less than in August. 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 Sept. 0.4 0.0 1.1 0.4 0.0 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. -0.1 -0.3 -2.3 0.5 -1.5 -0.4 -1.2 Apr. 0.2 0.5 0.1 0.1 -0.9 0.1 1.3 May r0.1 -0.4 0.8 r0 r-0.8 r-0.1 r-0.4 June r-0.2 r0 -1.7 r0 -0.8 r-0.4 r-1.7 July 0.2 0.4 0.3 0.1 -0.3 0 -1.8 Aug. -0.4 -0.4 -2.3 -0.1 -0.8 -0.3 -2.7 Sept. 0.3 0.4 -0.1 0.4 -0.9 -0.2 -1.6 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for May 1998 have been revised to reflect the availability of late reports and corrections by respondents. -2- For the first nine months of 1998, the Producer Price Index for Finished Goods declined at a 0.8-percent seasonally adjusted annual rate (SAAR). This compares with a 1.2-percent decrease during all of 1997. Prices for finished goods other than foods and energy rose at a 1.6 percent SAAR for the first nine months of 1998, after showing no change in the prior year. Prices for intermediate goods fell at a 3.0-percent SAAR from December 1997 to September 1998, following a 0.8-percent decline during calendar year 1997. The index for crude goods dropped at a 19.3-percent SAAR during the first nine months of 1998, after an 11.3-percent decrease during all of 1997. During the third quarter of 1998, the Finished Goods Price Index moved up at a 0.6-percent SAAR, after showing no change in the second quarter. The index for finished consumer foods rose at an annual rate of 2.1 percent from June to September, after increasing at a 0.6-percent rate during the second quarter of 1998. Prices for finished energy goods fell at an 8.3- percent SAAR from June 1998 to September 1998, following a 3.1-percent annual rate of decline over the previous three months. The finished goods index other than foods and energy increased at a 2.0-percent annual rate from June to September, after rising at a 0.6-percent rate in the prior quarter. The Intermediate Goods Price Index fell at a seasonally adjusted annual rate of 1.9 percent during the third quarter, after declining at a 1.6-percent rate during the second quarter. The Crude Goods Price Index dropped at a 21.9-percent SAAR during the third quarter of 1998, after decreasing at a 3.2-percent rate from March 1998 to June 1998. 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 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. -1.5 -2.2 0 -1.8 0.3 -2.9 -1.4 -7.6 Apr. -0.9 0.6 -0.1 -1.6 0.2 4.5 -1.1 -7.0 May 0.3 r0.4 -0.1 r-1.5 r-0.9 r0 r0.1 r-9.0 June -0.4 r-2.6 -0.1 -1.9 r0 r-4.8 r-0.3 -8.0 July 0.2 0.4 0 -1.7 -2.8 -0.6 -1.8 -9.3 Aug. -0.9 -1.5 -0.1 -2.1 -1.1 -5.1 -2.0 -12.0 Sept. -0.5 0.6 -0.3 -2.4 -1.9 -1.7 -1.3 -14.4 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for May 1998 have been revised to reflect the availability of late reports and corrections by respondents. -3- Before seasonal adjustment, the Producer Price Index for Finished Goods showed no change in September at 130.6 (1982=100). From September 1997 to September 1998, the Finished Goods Price Index decreased 0.9 percent. Over the past 12 months, the index for finished energy goods fell 11.6 percent, prices for finished consumer foods advanced 0.5 percent, and prices for finished goods other than foods and energy increased 1.1 percent. Prices received by domestic producers of intermediate goods declined 2.4 percent for the 12 months ended in September, and the index for crude goods fell 14.4 percent during the same period. Finished goods Prices for finished consumer goods other than foods and energy advanced 0.5 percent in September, after showing no change a month earlier. This index rose 3.3 percent on an SAAR basis during the third quarter of 1998, following a 1.4-percent rate of increase in the previous quarter. In September, prices for passenger cars rose 2.2 percent, after declining 1.7 percent in the prior month. Before seasonal adjustment, the index for passenger cars fell 0.4 percent in September, following a 2.2 percent decrease in the previous month. The indexes for light motor trucks, prescription drugs, and women's apparel turned up, following declines in August. Prices for alcoholic beverages rose, after showing no change a month earlier. By contrast, the index for children's apparel turned down 1.6 percent, after registering a 5.2-percent advance in the previous month. Prices for book publishing also turned down, after rising a month earlier. The index for tobacco products rose less than in August. Prices for finished consumer foods moved up 0.4 percent in September, after falling 0.4 percent in the prior month. The index for fresh and dry vegetables rose 12.4 percent, following a 20.6-percent drop last month. Prices for shortening and cooking oils, processed turkeys, and milled rice also turned up, after decreasing in August. The indexes for dairy products and processed young chickens rose more than in the previous month. Roasted coffee prices were unchanged in September, following a decline in August. On the other hand, prices for eggs for fresh use declined 8.8 percent, after rising 8.9 percent a month ago. The indexes for pork and for finfish and shellfish also turned down, after increasing in the prior month. Prices for beef and veal declined more than in August. Prices for capital equipment rose 0.4 percent in September, after declining 0.3 percent last month. This index moved up at a 0.6-percent annual rate in the third quarter, after falling at a 0.9-percent rate between March 1998 and June 1998. In September, prices for light motor trucks increased 2.0 percent, after falling 0.1 percent a month earlier. Before seasonal adjustment, the index for light motor trucks declined 1.0 percent, following a 0.2-percent decline in the prior month. The indexes for civilian aircraft and heavy motor trucks turned up, following decreases in August. Prices for transformers and power regulators rose, after showing no change in the prior month. Prices for electronic computers fell less than in the prior month. By contrast, the index for communication and related equipment declined 0.7 percent, following a 0.3-percent decrease a month ago. Prices for agricultural machinery and equipment turned down, after rising a month ago. The index for construction machinery and equipment showed no change, following an increase in August. The index for finished energy goods declined 0.1 percent in September, following a 2.3-percent decrease in August. Prices for gasoline fell 2.0 percent, after dropping 8.5 percent last month. The indexes for residential electrical power and home heating oil turned up in September, following decreases in the previous month. By contrast, prices for residential natural gas and finished lubricants turned down, after increasing in August. -4- Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components declined 0.2 percent in September, seasonally adjusted, following a 0.3-percent decline in August. Falling prices for nondurable manufacturing materials, durable manufacturing materials, and intermediate foods and feeds outweighed rising prices for intermediate energy goods. The index for materials and components for construction showed no change in September. Prices for intermediate materials excluding foods and energy posted a 0.3-percent decrease, after decreasing 0.1 percent in the prior month. (See table B.) The index for nondurable manufacturing materials declined 0.9 percent in September, following a 0.4-percent decline in August. This index fell at a 6.7-percent SAAR during the third quarter of 1998, after falling at a 1.9-percent rate during the second quarter. In September, prices for plastic resins and materials decreased 2.4 percent, after posting a 0.4- percent increase in the previous month. The indexes for industrial chemicals and for paperboard fell more than last month. Prices for synthetic fibers, fertilizer materials, and processed yarns and threads declined, following advances one month ago. By contrast, the index for woodpulp declined 2.9 percent, after a 4.6-percent decline one month earlier. Prices for finished fabrics rose, after falling in August. The index for durable manufacturing materials declined 0.5 percent in September, following a 0.1-percent advance in August. This index fell at a 2.8-percent SAAR from June 1998 to September 1998, after falling at a 4.8- percent rate during the second quarter. In September, prices for steel mill products decreased 1.1 percent, after posting a 0.3-percent decrease in the prior month. The indexes for plywood and for building paper and board rose less than one month ago. Prices for aluminum fell more than last month. On the other hand, the index for flat glass advanced 1.0 percent, following a 1.9-percent decline in the previous month. Prices for aluminum mill shapes rose more than a month earlier. The indexes for copper and brass mill shapes and for copper cathode and refined copper increased, after registering declines in August. The index for intermediate foods and feeds declined 0.5 percent in September, following a 0.9-percent decline in August. This index fell at a 5.1-percent SAAR during the third quarter, after falling at a 3.7-percent rate in the previous quarter. In September, decreasing prices for prepared animal feeds, beef and veal, pork, flour, and confectionery materials outweighed increasing prices for fluid milk products, condensed and evaporated milk products, and crude vegetable oils. The index for intermediate energy materials advanced 0.6 percent in September, following a 1.5-percent decline in August. This index fell at a 2.0-percent SAAR during the third quarter of 1998, after falling at a 6.2- percent rate in the previous quarter. In September, prices for residual fuel increased 11.3 percent, following a 16.3-percent decrease in the previous month. Prices for diesel fuel and commercial electric power also advanced, after declining in the prior month. The indexes for gasoline and for jet fuels fell less than last month. By contrast, prices for commercial natural gas declined 1.2 percent, following a 1.1-percent advance in the prior month. Prices for liquefied petroleum gas and coke oven products decreased more than a month ago. Prices for materials and components for construction were unchanged in September, after a 0.2-percent advance in August. This index rose at a 1.6- percent SAAR for the third quarter of 1998, following a 0.3-percent rate of increase during the second quarter. In September, the index for softwood lumber decreased 5.1 percent, after posting a 1.4-percent increase in the previous month. Prices for plywood and for asphalt felts and coatings rose less than in the prior month. The index for fabricated ferrous wire products fell, after showing no change in August. On the other hand, prices for fabricated structural metal products advanced 0.1 percent, following a 0.1-percent decline in the prior month. The indexes for millwork and gypsum products also rose, after falling last month. Prices for nonferrous wire and cable fell less than in August. -5- Crude Goods The Producer Price Index for Crude Materials for Further Processing fell 1.6 percent in September, seasonally adjusted, following a 2.7-percent decline in August. Prices for crude energy materials and basic industrial materials fell less than in the previous month. By contrast, prices for crude foodstuffs and feedstuffs fell more than a month ago. (See table B.) Prices for crude energy materials fell 1.7 percent, after a 5.1- percent drop in August. This index dropped at a 25.9-percent SAAR from June 1998 to September 1998, following a 2.3-percent rate of decline in the second quarter. In September, the index for crude petroleum turned up 18.4 percent, after decreasing 15.5 percent in the previous month. By contrast, the index for natural gas fell 9.7 percent, following a 2.4-percent decline in the prior month. Prices for coal declined in September, after turning up in August. The index for crude nonfood materials less energy dropped 1.3 percent, following a 2.0-percent decline in August. This index fell at an 18.8- percent SAAR in the third quarter of 1998, after decreasing at a 5.0- percent rate in the second quarter. In September, raw cotton prices turned up 5.9 percent, following a 2.4-percent decrease in the previous month. Prices for gold ores, aluminum base scrap, and for hardwood logs, bolts and timber also increased, after declining a month ago. The index for copper base scrap fell less than in August. By contrast, prices for iron and steel scrap fell 9.6 percent in September, after decreasing 7.4 percent in the prior month. The index for copper ores rose less than in the previous month. Prices for cattle hides and for softwood logs, bolts, and timber turned down, after increasing a month ago. Prices for crude foodstuffs and feedstuffs fell 1.9 percent, following a 1.1-percent decrease in August. This index decreased at a 20.9-percent SAAR from June 1998 to September 1998, following a 3.0-percent rate of decrease in the second quarter. In September, the index for slaughter hogs fell 9.0 percent, after increasing 0.8 percent in the previous month. Prices for slaughter broilers also turned down, following an increase last month. The indexes for slaughter cattle and corn fell more than in August. By contrast, the index for fresh vegetables, except potatoes, advanced 17.5 percent, after falling 25.2 percent a month ago. Prices for soybeans and wheat fell less than in August. 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 1.3 percent in September, following a 3.5-percent decrease in August. (Net output price indexes are not seasonally adjusted.) During the third quarter of 1998, this index declined at an annual rate of 19.7 percent, after decreasing at a 6.0-percent rate in the second quarter. In September, prices for the crude petroleum and natural gas industry fell 1.4 percent, after falling 6.6 percent in the prior month. The indexes for iron ores and industrial sand industries rose, after showing no change in August. By contrast, prices for the lead and zinc ores industry dropped 4.0 percent, following a 6.1-percent advance in the prior month. The indexes for the potash, soda, and borate minerals and the bituminous coal and lignite industries also fell, after rising in the previous month. In September, the Producer Price Index for the net output of total domestic mining industries stood at 67.3 percent (December 1984=100), 18.8 percent below its year-ago level. -6- Manufacturing. The Producer Price Index for the net output of total domestic manufacturing industries showed no change in September, after declining 0.2 percent in August. During the third quarter of 1998, this index declined at an annual rate of 0.6 percent, following a 1.0-percent rate of increase for the previous quarter. In September, prices for the petroleum refining industry group turned up 1.3 percent, after falling 4.1 percent in the previous month. The index for the machinery, except electrical, industry group also rose, following a decrease in August. Prices for the transportation industry group fell less than a month ago. The index for the nonmetallic mineral products industry group advanced, after showing no change in the previous month. By contrast, prices for the food and kindred products and the leather and leather products industry groups fell, following an increase a month ago. The indexes for the primary metal industries, the textile mill products, and the chemical and allied products industry groups fell more than in the prior month. In September, the Producer Price Index for the net output of total domestic manufacturing industries stood at 126.0 (December 1984=100), 1.0 percent below its year-ago level. Other. Among other industries in September, price increases for the scheduled air transportation, offices and clinics of doctors of medicine, trucking (except local), radio broadcasting, legal services, freight transportation arrangement, and local trucking without storage industries more than offset price decreases for the operators and lessors of nonresidential buildings, hotels and motels, real estate agents and managers, general medical and surgical hospitals, and truck rental and leasing (without drivers) industries. ***** Producer Price Index data for October 1998 will be released on Friday, November 13, at 8:30 a.m. (E.S.T.) ***** Information in this news release will be made available to sensory impaired individuals upon request. Voice phone: 202-606-7828; TDD phone: 202-606- 5897; TDD Message Referral phone: 1-800-326-2577. Table 1. Producer price indexes and percent changes by stage of processing (1982=100) _______________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | Relative | Unadjusted index |change to |percent change from: Grouping |importance| |Sept.1998 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | May |Aug. |Sept. | Sept.| Aug. |June to|July to |Aug. to | 1997 1/|1998 2/|1998 2/|1998 2/| 1997 | 1998 | July | Aug. | Sept. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 130.6 130.6 130.6 -0.9 0 0.2 -0.4 0.3 Finished consumer goods........................| 74.755 128.9 129.1 129.2 -1.0 .1 .3 -.5 .4 Finished consumer foods......................| 23.199 133.6 135.0 135.4 .5 .3 .4 -.4 .4 Crude......................................| 1.761 121.7 120.9 126.4 2.3 4.5 7.2 -7.0 3.1 Processed..................................| 21.438 134.5 136.1 136.2 .5 .1 0 .1 .2 Finished consumer goods, excluding foods.....| 51.556 126.7 126.4 126.3 -1.8 -.1 .3 -.6 .3 Nondurable goods less foods................| 35.297 122.8 122.7 122.8 -2.4 .1 .2 -.6 .1 Durable goods..............................| 16.259 132.3 131.3 131.0 -.3 -.2 .2 -.4 .9 Capital equipment..............................| 25.245 137.3 136.7 136.5 -.5 -.1 .1 -.3 .4 Manufacturing industries.....................| 6.590 137.9 137.8 137.7 .3 -.1 0 -.1 .1 Nonmanufacturing industries..................| 18.655 137.1 136.3 136.0 -.8 -.2 .1 -.3 .4 | Intermediate materials, supplies, and components.| 100.000 123.5 123.1 123.0 -2.4 -.1 0 -.3 -.2 Materials and components for manufacturing.....| 47.584 126.8 126.0 125.6 -2.1 -.3 -.2 -.2 -.3 Materials for food manufacturing.............| 3.500 123.7 123.3 124.6 1.2 1.1 -.5 -.1 1.1 Materials for nondurable manufacturing.......| 16.157 127.9 126.7 125.5 -3.3 -.9 -.4 -.4 -.9 Materials for durable manufacturing..........| 10.575 129.2 127.8 127.1 -4.4 -.5 -.3 .1 -.5 Components for manufacturing.................| 17.352 126.0 125.8 125.8 -.3 0 0 -.1 0 Materials and components for construction......| 13.519 146.9 147.3 147.2 .3 -.1 .2 .2 0 Processed fuels and lubricants.................| 13.015 81.7 81.7 82.6 -9.2 1.1 .5 -1.6 .8 Manufacturing industries ....................| 4.844 86.5 86.7 87.5 -6.6 .9 .2 -1.2 .8 Nonmanufacturing industries..................| 8.171 78.8 78.6 79.5 -10.9 1.1 .5 -1.8 .7 Containers.....................................| 3.784 141.7 140.7 140.9 4.1 .1 .1 -.6 .1 Supplies.......................................| 22.098 134.8 134.7 134.3 -1.4 -.3 .1 -.2 -.3 Manufacturing industries.....................| 4.941 140.6 140.6 140.5 .6 -.1 -.1 -.1 0 Nonmanufacturing industries..................| 17.157 132.2 132.0 131.5 -2.2 -.4 .2 -.3 -.4 Feeds......................................| 1.618 99.6 98.0 92.8 -29.3 -5.3 1.9 -3.2 -5.3 Other supplies.............................| 15.539 136.2 136.2 136.2 1.0 0 .1 0 0 | Crude materials for further processing...........| 100.000 100.5 94.6 92.9 -14.4 -1.8 -1.8 -2.7 -1.6 Foodstuffs and feedstuffs......................| 42.088 106.2 103.0 100.9 -8.8 -2.0 -2.8 -1.1 -1.9 Nonfood materials..............................| 57.912 92.9 85.4 84.1 -18.5 -1.5 -1.1 -3.8 -1.5 Nonfood materials except fuel 3/.............| 33.172 88.3 80.3 83.1 -17.8 3.5 .6 -5.6 3.6 Manufacturing 3/...........................| 31.843 80.2 72.8 75.4 -18.5 3.6 .6 -6.1 3.8 Construction...............................| 1.329 200.3 192.2 191.7 -5.0 -.3 -.7 .6 -.6 Crude fuel 4/................................| 24.740 91.8 85.6 78.8 -18.8 -7.9 -3.2 -1.5 -7.9 Manufacturing industries...................| 2.039 89.9 83.4 77.4 -18.1 -7.2 -2.4 -1.9 -7.2 Nonmanufacturing industries................| 22.701 93.6 87.3 80.3 -18.9 -8.0 -3.3 -1.5 -8.0 | Special groupings | | Finished goods, excluding foods..................|5/ 76.801 129.6 129.2 129.1 -1.4 -.1 .2 -.5 .3 Intermediate materials less foods and feeds......|6/ 94.882 123.9 123.6 123.5 -2.1 -.1 0 -.2 -.2 Intermediate foods and feeds.....................|6/ 5.118 116.3 115.6 114.8 -8.9 -.7 .2 -.9 -.5 Crude materials less agricultural products 3/ 7/.|8/ 55.307 92.3 84.5 82.9 -19.4 -1.9 -1.2 -3.9 -1.9 | Finished energy goods............................|5/ 13.585 76.3 75.5 75.4 -11.6 -.1 .3 -2.3 -.1 Finished goods less energy.......................|5/ 86.415 140.7 140.9 141.0 .9 .1 .3 -.1 .4 Finished consumer goods less energy..............|5/ 61.170 141.9 142.5 142.7 1.5 .1 .4 -.1 .5 | Finished goods less foods and energy.............|5/ 63.216 143.4 143.2 143.1 1.1 -.1 .1 -.1 .4 Finished consumer goods less foods and energy....|5/ 37.971 147.3 147.4 147.4 2.1 0 .3 0 .5 Consumer nondurable goods less foods and energy..|5/ 21.712 158.8 159.8 160.0 3.8 .1 .3 .4 .3 | Intermediate energy goods........................|6/ 13.123 81.5 81.4 82.3 -9.3 1.1 .4 -1.5 .6 Intermediate materials less energy...............|6/ 86.877 132.9 132.4 132.0 -1.3 -.3 -.1 -.2 -.2 Intermediate materials less foods and energy.....|6/ 81.759 133.9 133.5 133.2 -.8 -.2 0 -.1 -.3 | Crude energy materials 3/........................|8/ 36.418 72.7 65.3 64.2 -22.8 -1.7 -.6 -5.1 -1.7 Crude materials less energy......................|8/ 63.582 116.6 112.5 110.4 -9.7 -1.9 -2.5 -1.4 -1.7 Crude nonfood materials less energy 4/...........|8/ 21.494 147.2 140.3 138.1 -11.5 -1.6 -1.8 -2.0 -1.3 | _______________________________________________________________________________________________________________________________ 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 May 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 | | |Sept.1998 from:| code | Grouping |_______________________|_______________|_______________________ | | | | | | | | | | | May |Aug. |Sept. | Sept. | Aug. |June to|July to|Aug. to | |1998 1/|1998 1/|1998 1/| 1997 | 1998 | July | Aug. | Sept. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|_______ | | |FINISHED GOODS.........................................| 130.6 130.6 130.6 -0.9 0 0.2 -0.4 0.3 | FINISHED CONSUMER GOODS...............................| 128.9 129.1 129.2 -1.0 .1 .3 -.5 .4 | FINISHED CONSUMER FOODS..............................| 133.6 135.0 135.4 .5 .3 .4 -.4 .4 | | 01-11 | Fresh fruits and melons 2/..........................| 92.3 90.2 90.9 -2.7 .8 -1.0 1.7 .8 01-13 | Fresh and dry vegetables 2/.........................| 134.2 116.4 130.8 4.6 12.4 21.3 -20.6 12.4 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 71.2 91.3 88.9 -11.2 -2.6 -9.8 8.9 -8.8 02-11 | Bakery products 2/..................................| 175.8 176.0 175.5 .7 -.3 -.1 .2 -.3 02-13 | Milled rice 2/......................................| 122.4 123.4 124.6 0 1.0 -.2 -.3 1.0 02-14-02 | Pasta products (June 1985=100) 2/...................| 122.7 123.2 122.9 -.6 -.2 0 .9 -.2 02-21-01 | Beef and veal.......................................| 103.5 100.8 98.3 -5.5 -2.5 -.1 -.7 -2.3 02-21-04 | Pork................................................| 104.2 104.8 96.1 -22.2 -8.3 -10.9 .9 -2.8 02-22-03 | Processed young chickens............................| 119.7 136.7 139.1 15.3 1.8 5.3 .8 1.4 02-22-06 | Processed turkeys...................................| 87.3 94.3 97.9 -3.2 3.8 1.2 -.6 2.7 02-23 | Finfish and shellfish...............................| 186.4 180.4 178.4 5.1 -1.1 1.1 1.3 -.6 02-3 | Dairy products......................................| 131.3 139.4 145.1 14.2 4.1 1.3 2.2 4.0 02-4 | Processed fruits and vegetables 2/..................| 125.7 126.5 126.3 .8 -.2 .5 .1 -.2 02-55 | Confectionery end products 2/.......................| 168.5 169.4 169.4 .7 0 .2 .4 0 02-62 | Soft drinks.........................................| 134.6 134.8 134.8 1.4 0 .4 0 .1 02-63-01 | Roasted coffee 2/...................................| 147.3 142.0 142.0 -11.9 0 -2.4 -1.0 0 02-76 | Shortening and cooking oils 2/......................| 145.1 137.3 142.5 4.3 3.8 -.2 -3.0 3.8 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 126.7 126.4 126.3 -1.8 -.1 .3 -.6 .3 | | 02-61 | Alcoholic beverages.................................| 134.9 134.9 135.0 .7 .1 0 0 .8 03-81-01 | Women's apparel 2/..................................| 121.9 121.0 121.4 .5 .3 -.2 -.1 .3 03-81-02 | Men's and boys' apparel.............................| 133.1 133.5 133.4 .3 -.1 .5 -.1 .1 03-81-03 | Girls', children's, and infants' apparel 2/.........| 122.1 122.4 120.5 -1.4 -1.6 -4.5 5.2 -1.6 03-82 | Textile housefurnishings 2/.........................| 123.3 122.8 122.8 .2 0 -.4 0 0 04-3 | Footwear............................................| 144.6 145.0 144.7 .2 -.2 -.2 .4 -.2 05-41 | Residential electric power (Dec. 1990=100)..........| 109.8 113.9 114.2 -2.4 .3 1.1 -1.1 .5 05-51 | Residential gas (Dec. 1990=100).....................| 114.2 113.9 112.3 -2.0 -1.4 .4 1.0 -1.1 05-71 | Gasoline............................................| 58.3 51.5 51.1 -32.1 -.8 -1.3 -8.5 -2.0 05-73-02-01| Fuel oil No. 2......................................| 50.6 43.5 48.0 -20.3 10.3 -1.0 -7.0 6.6 06-35 | Pharmaceutical preps, ethical (Prescription)........| 327.3 331.8 332.1 21.2 .1 1.7 -.6 .3 06-36 | Pharmaceutical preps,proprietary (Over-counter).....| 184.8 184.5 184.5 .1 0 .2 -.2 .1 06-71 | Soaps and synthetic detergents 2/...................| 126.1 126.2 126.7 .2 .4 .2 0 .4 06-75 | Cosmetics and other toilet preparations 2/..........| 133.5 133.7 134.3 3.0 .4 .1 0 .4 07-12 | Tires, tubes, tread, etc 2/.........................| 93.8 93.8 94.0 -1.6 .2 -.2 -.2 .2 09-15-01 | Sanitary papers and health products 2/..............| 144.6 146.1 144.6 -2.1 -1.0 2.2 -.6 -1.0 09-31-01 | Newspaper circulation 2/............................| 202.7 202.7 202.8 .1 0 0 0 0 09-32-01 | Periodical circulation..............................| 193.2 193.7 194.4 3.2 .4 .1 .4 .7 09-33 | Book publishing 2/..................................| 203.6 204.5 204.1 2.2 -.2 -.8 .5 -.2 12-1 | Household furniture 2/..............................| 148.2 148.4 148.5 1.3 .1 .1 .2 .1 12-3 | Floor coverings 2/..................................| 128.3 128.0 127.6 -.6 -.3 0 .2 -.3 12-4 | Household appliances 2/.............................| 109.1 108.9 108.8 -.5 -.1 .5 -.3 -.1 12-5 | Home electronic equipment 2/........................| 76.8 76.8 76.8 .9 0 0 0 0 12-62 | Household glassware 2/..............................| 163.0 163.0 163.1 .6 .1 -.1 0 .1 12-64 | Household flatware 2/...............................| 141.1 138.3 139.0 .4 .5 -.6 0 .5 12-66 | Lawn and garden equip., ex. tractors 2/.............| 131.6 131.6 132.3 1.1 .5 -.1 .1 .5 14-11-01 | Passenger cars......................................| 130.4 127.3 126.8 -.7 -.4 .8 -1.7 2.2 15-11 | Toys, games, and children's vehicles................| 124.5 124.4 124.0 -.9 -.3 -.1 .3 -.3 15-12 | Sporting and athletic goods 2/......................| 126.1 126.2 126.2 .6 0 .2 -.1 0 15-2 | Tobacco products 2/.................................| 278.4 286.4 287.3 12.1 .3 0 2.8 .3 15-5 | Mobile homes 2/.....................................| 153.9 154.5 155.0 1.6 .3 0 .3 .3 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 128.4 127.7 127.8 -.7 .1 0 -.1 .1 15-94-04 | Costume jewelry and novelties 2/....................| 139.5 139.5 139.5 -.9 0 0 0 0 | | | CAPITAL EQUIPMENT.....................................| 137.3 136.7 136.5 -.5 -.1 .1 -.3 .4 | | 11-1 | Agricultural machinery and equipment 2/.............| 149.7 149.2 149.1 -.1 -.1 .1 .2 -.1 11-2 | Construction machinery and equipment................| 145.2 145.4 145.2 2.1 -.1 .1 .2 0 11-37 | Metal cutting machine tools 2/......................| 160.1 160.2 160.3 2.0 .1 0 .3 .1 11-38 | Metal forming machine tools 2/......................| 157.5 158.1 158.5 2.1 .3 .4 0 .3 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 138.9 138.7 138.7 .3 0 -.1 .1 0 11-41 | Pumps, compressors, and equipment...................| 148.8 149.1 149.2 1.5 .1 .3 .1 .1 11-44 | Industrial material handling equipment 2/...........| 131.3 131.4 131.8 1.4 .3 .1 .2 .3 11-51 | Electronic computers (Dec. 1990=100) 2/.............| 25.2 23.4 23.1 -26.2 -1.3 -1.6 -4.5 -1.3 11-62 | Textile machinery 2/................................| 153.1 152.4 152.8 .3 .3 0 -.5 .3 11-64 | Paper industries machinery (June 1982=100)..........| 160.0 160.2 160.2 1.5 0 .1 .2 .1 11-65 | Printing trades machinery 2/........................| 140.1 143.3 143.3 3.3 0 0 0 0 11-74 | Transformers and power regulators 2/................| 131.0 130.6 132.4 2.3 1.4 -.3 0 1.4 11-76 | Communication & related equip. (Dec. 1985=100) 2/...| 114.1 114.3 113.5 -.5 -.7 .2 -.3 -.7 11-79-05 | X-ray and electromedical equipment 2/...............| 106.9 106.1 106.2 -.7 .1 -.6 -.3 .1 11-91 | Oil field and gas field machinery 2/................| 125.6 125.7 125.6 1.9 -.1 .1 -.1 -.1 11-92 | Mining machinery and equipment 2/...................| 142.2 142.3 142.4 1.0 .1 -.1 .1 .1 11-93 | Office and store machines and equipment 2/..........| 112.4 112.4 112.4 -.2 0 .1 -.3 0 12-2 | Commercial furniture 2/.............................| 155.6 155.1 155.1 .3 0 -.1 .1 0 14-11-05 | Light motor trucks..................................| 153.7 151.7 150.2 -2.5 -1.0 .7 -.1 2.0 14-11-06 | Heavy motor trucks 2/...............................| 141.6 142.1 142.3 1.7 .1 .1 -.3 .1 14-14 | Truck trailers 2/...................................| 135.3 135.5 135.3 4.2 -.1 -.1 -.1 -.1 14-21-02 | Civilian aircraft (Dec. 1985=100)...................| 150.2 149.8 149.8 -.1 0 -.1 -.3 .1 14-31 | Ships (Dec. 1985=100) 2/............................| 145.8 145.8 145.8 .6 0 .1 0 0 14-4 | Railroad equipment..................................| 135.3 135.5 135.2 .7 -.2 .2 .2 -.3 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 123.5 123.1 123.0 -2.4 -.1 0 -.3 -.2 | | | INTERMEDIATE FOODS AND FEEDS..........................| 116.3 115.6 114.8 -8.9 -.7 .2 -.9 -.5 | | 02-12-03 | Flour 2/............................................| 112.4 104.0 102.8 -12.9 -1.2 -1.1 -3.5 -1.2 02-53 | Refined sugar 2/....................................| 119.2 119.9 120.7 -1.5 .7 -1.6 -.3 .7 02-54 | Confectionery materials.............................| 93.4 93.5 93.7 -14.7 .2 -.5 -.2 -1.7 02-72 | Crude vegetable oils 2/.............................| 143.7 120.4 131.4 16.6 9.1 -3.3 -4.7 9.1 02-9 | Prepared animal feeds 2/............................| 107.3 106.1 101.8 -24.6 -4.1 1.7 -2.5 -4.1 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 123.9 123.6 123.5 -2.1 -.1 0 -.2 -.2 | | 03-1 | Synthetic fibers 2/.................................| 110.9 111.2 108.9 -1.4 -2.1 0 .2 -2.1 03-2 | Processed yarns and threads 2/......................| 113.2 113.4 112.6 -1.0 -.7 -.2 .3 -.7 03-3 | Gray fabrics 2/.....................................| 123.0 121.4 120.8 -1.3 -.5 -1.0 -.2 -.5 03-4 | Finished fabrics....................................| 124.7 124.2 124.2 .2 0 -.5 -.1 .1 03-83-03 | Industrial textile products 2/......................| 130.4 130.6 130.5 2.1 -.1 -.1 0 -.1 04-2 | Leather.............................................| 177.4 179.9 178.8 .2 -.6 1.3 1.4 -.8 05-32 | Liquefied petroleum gas 2/..........................| 63.4 55.4 53.4 -33.6 -3.6 -2.9 -1.9 -3.6 ___________________________________________________________________________________________________________________________________ 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 | | |Sept.1998 from:| code | Grouping |_______________________|_______________|_______________________ | | | | | | | | | | | May |Aug. |Sept. | Sept. | Aug. |June to|July to|Aug. to | |1998 1/|1998 1/|1998 1/| 1997 | 1998 | July | Aug. | Sept. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|_______ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 128.0 136.3 137.9 -1.1 1.2 1.2 -0.2 1.0 05-43 | Industrial electric power...........................| 129.2 134.5 135.4 -.4 .7 .5 .3 .5 05-52 | Commercial natural gas (Dec. 1990=100)..............| 105.8 104.0 103.0 -2.6 -1.0 1.6 1.1 -1.2 05-53 | Industrial natural gas (Dec. 1990=100)..............| 103.3 100.1 99.3 -3.3 -.8 1.6 0 -.1 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 78.1 74.2 72.1 -15.6 -2.8 .3 .8 -2.9 05-72-03 | Jet fuels...........................................| 47.9 43.2 43.4 -25.7 .5 0 -2.4 -1.4 05-73-03 | No. 2 Diesel fuel...................................| 50.0 44.1 48.3 -21.2 9.5 -1.1 -4.8 6.7 05-74 | Residual fuel 2/....................................| 47.1 37.1 41.3 -30.9 11.3 -2.0 -16.3 11.3 06-1 | Industrial chemicals 2/.............................| 121.9 121.2 119.7 -5.6 -1.2 .1 -.5 -1.2 06-21 | Prepared paint......................................| 155.1 155.2 155.4 2.0 .1 .2 -.2 .3 06-22 | Paint materials 2/..................................| 143.6 143.8 143.5 1.1 -.2 .4 -.2 -.2 06-31 | Medicinal and botanical chemicals 2/................| 135.2 135.2 135.2 1.2 0 0 0 0 06-4 | Fats and oils, inedible 2/..........................| 125.0 115.3 111.0 -11.1 -3.7 -12.5 .8 -3.7 06-51 | Mixed fertilizers...................................| 115.6 115.6 115.9 1.8 .3 .9 .4 .5 06-52-01 | Nitrogenates........................................| 113.0 106.7 102.7 -19.8 -3.7 1.6 -1.4 -3.8 06-52-02 | Phosphates 2/.......................................| 112.2 113.9 114.0 4.6 .1 0 .5 .1 06-53 | Other agricultural chemicals........................| 149.1 150.2 150.1 .8 -.1 -.2 .7 -.1 06-6 | Plastic resins and materials 2/.....................| 128.8 126.1 123.1 -9.5 -2.4 -1.6 .4 -2.4 07-11-02 | Synthetic rubber 2/.................................| 117.4 117.5 117.0 -1.1 -.4 -.2 .3 -.4 07-21 | Plastic construction products 2/....................| 127.5 125.4 125.4 -2.0 0 -.6 0 0 07-22 | Unsupported plastic film, sheet, & other shapes.....| 128.8 127.7 127.1 -3.5 -.5 -.5 .2 -1.0 07-26 | Plastic parts and components for manufacturing 2/...| 117.2 117.0 116.9 -.2 -.1 -.1 .1 -.1 08-11 | Softwood lumber 2/..................................| 187.0 183.7 174.3 -13.7 -5.1 2.5 1.4 -5.1 08-12 | Hardwood lumber 2/..................................| 179.5 178.3 178.2 .7 -.1 -.2 -.4 -.1 08-2 | Millwork 2/.........................................| 171.2 170.8 171.2 -.1 .2 -.2 -.1 .2 08-3 | Plywood 2/..........................................| 151.4 166.9 171.6 5.5 2.8 4.3 6.3 2.8 09-11 | Woodpulp 2/.........................................| 120.8 123.3 119.7 -10.2 -2.9 4.2 -4.6 -2.9 09-13 | Paper...............................................| 146.4 145.1 145.1 -.3 0 -.5 -.1 -.3 09-14 | Paperboard..........................................| 154.2 151.1 149.0 .4 -1.4 -1.5 -1.1 -2.1 09-15-03 | Paper boxes and containers 2/.......................| 156.3 154.6 155.1 7.6 .3 0 -1.0 .3 09-2 | Building paper and board 2/.........................| 132.0 138.6 139.3 8.5 .5 1.9 3.6 .5 09-37 | Commercial printing (June 1982=100) 2/..............| 151.8 152.4 152.5 2.6 .1 0 .1 .1 10-15 | Foundry and forge shop products.....................| 135.2 135.1 135.0 .6 -.1 .1 0 .1 10-17 | Steel mill products 2/..............................| 115.1 114.6 113.3 -3.0 -1.1 .1 -.3 -1.1 10-22 | Primary nonferrous metals 2/........................| 109.4 103.1 102.4 -19.1 -.7 -3.4 -.9 -.7 10-25-01 | Aluminum mill shapes 2/.............................| 144.1 139.4 140.9 -6.1 1.1 -1.3 .2 1.1 10-25-02 | Copper and brass mill shapes 2/.....................| 156.0 149.8 152.0 -12.5 1.5 -1.3 -.3 1.5 10-26 | Nonferrous wire and cable 2/........................| 141.3 140.7 140.5 -5.3 -.1 -.2 -.5 -.1 10-3 | Metal containers 2/.................................| 108.6 108.5 108.5 .7 0 -.1 0 0 10-4 | Hardware............................................| 146.9 147.2 147.2 .9 0 .4 -.2 .1 10-5 | Plumbing fixtures and brass fittings................| 176.1 175.1 174.5 -.1 -.3 .2 -.1 -.1 10-6 | Heating equipment...................................| 153.4 153.2 153.2 .2 0 -.4 0 .1 10-7 | Fabricated structural metal products................| 142.6 142.9 143.0 1.4 .1 -.1 -.1 .1 10-88 | Fabricated ferrous wire products (June 1982=100) 2/.| 130.2 130.4 130.2 1.0 -.2 -.1 0 -.2 10-89 | Other misc. metal products 2/.......................| 126.3 126.3 126.0 -.2 -.2 0 -.1 -.2 11-45 | Mechanical power transmission equipment.............| 157.4 157.5 157.6 1.8 .1 .1 .2 .3 11-48 | Air conditioning and refrigeration equipment........| 133.6 134.8 136.1 2.4 1.0 0 .8 1.0 11-49-02 | Metal valves, ex.fluid power (Dec. 1982=100) 2/.....| 156.5 156.7 156.8 1.9 .1 .1 .1 .1 11-49-05 | Ball and roller bearings............................| 164.7 165.4 165.6 1.3 .1 0 .3 .4 11-71 | Wiring devices......................................| 154.4 154.6 154.7 .3 .1 0 -.1 .1 11-73 | Motors, generators, motor generator sets............| 145.7 145.2 145.9 .6 .5 -.3 .1 .8 11-75 | Switchgear, switchboard, etc., equipment............| 147.9 147.9 148.1 1.8 .1 .1 0 .2 11-78 | Electronic components and accessories 2/............| 100.1 99.8 99.9 -2.9 .1 -.1 -.5 .1 11-94 | Internal combustion engines.........................| 140.4 141.3 141.1 .6 -.1 .2 .2 -.1 11-95 | Machine shop products 2/............................| 136.2 136.4 136.4 .7 0 .2 -.3 0 13-11 | Flat glass 2/.......................................| 107.4 105.9 107.0 -1.1 1.0 .7 -1.9 1.0 13-22 | Cement..............................................| 145.7 148.1 148.0 5.3 -.1 1.2 .2 .2 13-3 | Concrete products...................................| 139.9 141.4 141.6 4.0 .1 .2 .2 .1 13-6 | Asphalt felts and coatings 2/.......................| 99.5 100.2 100.4 .2 .2 .3 .5 .2 13-7 | Gypsum products 2/..................................| 172.6 178.1 178.9 5.5 .4 2.3 -1.0 .4 13-8 | Glass containers 2/.................................| 125.9 125.5 126.0 .2 .4 .7 0 .4 14-12 | Motor vehicle parts 2/..............................| 114.8 114.4 114.3 -.9 -.1 .1 -.1 -.1 14-23 | Aircraft engines & engine parts (Dec. 1985=100).....| 137.6 137.8 137.1 2.2 -.5 .2 0 -.4 14-25 | Aircraft parts & aux.equip.,nec (June 1985=100) 2/..| 142.3 141.9 143.3 1.6 1.0 .3 .1 1.0 15-42 | Photographic supplies 2/............................| 129.0 129.0 129.0 -1.2 0 0 0 0 15-6 | Medical/surgical/personal aid devices...............| 143.0 143.0 143.4 .2 .3 .2 .2 .4 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 100.5 94.6 92.9 -14.4 -1.8 -1.8 -2.7 -1.6 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 106.2 103.0 100.9 -8.8 -2.0 -2.8 -1.1 -1.9 | | 01-21 | Wheat 2/............................................| 92.3 76.7 74.8 -28.4 -2.5 -.7 -8.6 -2.5 01-22-02-05| Corn................................................| 96.7 80.2 72.5 -31.7 -9.6 .4 -5.1 -6.5 01-31 | Slaughter cattle....................................| 97.5 89.6 89.4 -9.3 -.2 -7.1 -1.0 -2.3 01-32 | Slaughter hogs......................................| 69.7 58.0 48.4 -42.1 -16.6 -22.8 .8 -9.0 01-41-02 | Slaughter broilers/fryers...........................| 141.6 184.1 177.9 20.3 -3.4 4.4 6.8 -2.9 01-42 | Slaughter turkeys...................................| 99.0 118.8 123.3 5.8 3.8 3.8 4.8 3.7 01-6 | Fluid milk..........................................| 98.1 114.2 119.8 23.5 4.9 5.4 4.2 3.8 01-83-01-31| Soybeans 2/.........................................| 110.2 93.7 90.5 -25.0 -3.4 4.6 -14.5 -3.4 02-52-01-01| Cane sugar,raw 2/...................................| 118.1 118.4 116.0 -1.9 -2.0 1.0 -.8 -2.0 | | | CRUDE NONFOOD MATERIALS..............................| 92.9 85.4 84.1 -18.5 -1.5 -1.1 -3.8 -1.5 | | 01-51-01-01| Raw cotton..........................................| 108.0 116.6 119.4 1.5 2.4 7.7 -2.4 5.9 01-92-01-01| Leaf tobacco 2/.....................................| (3) 93.8 104.1 .9 11.0 (3) (3) 11.0 04-11 | Cattle hides 2/.....................................| 153.1 166.4 162.1 -10.1 -2.6 -9.5 2.5 -2.6 05-1 | Coal 2/.............................................| 94.5 93.8 91.0 -5.4 -3.0 -3.3 .3 -3.0 05-31 | Natural gas 2/......................................| 90.5 82.1 74.1 -23.5 -9.7 -2.9 -2.4 -9.7 05-61 | Crude petroleum 2/..................................| 38.3 30.5 36.1 -32.3 18.4 7.4 -15.5 18.4 08-5 | Logs, timber, etc...................................| 213.3 204.1 203.0 -5.4 -.5 -1.2 1.0 -1.0 09-12 | Wastepaper 2/.......................................| 151.8 143.8 138.5 -23.9 -3.7 -.5 -2.3 -3.7 10-11 | Iron ore 2/.........................................| 95.6 95.6 95.8 .6 .2 -.3 0 .2 10-12 | Iron and steel scrap 2/.............................| 184.5 162.6 147.0 -22.5 -9.6 -3.6 -7.4 -9.6 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 69.4 67.4 68.2 -15.0 1.2 -1.2 1.4 1.2 10-23-01 | Copper base scrap 2/................................| 123.8 110.9 110.7 -26.3 -.2 -6.9 -3.1 -.2 10-23-02 | Aluminum base scrap.................................| 171.7 148.8 148.7 -23.2 -.1 -9.0 -1.5 1.1 13-21 | Construction sand, gravel, and crushed stone........| 152.8 153.5 153.3 3.2 -.1 .6 .3 -.1 ___________________________________________________________________________________________________________________________________ 1/ The indexes for May 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 | May 1998 | Aug. 1998 |Sept. 1998 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 366.4 | 366.4 | 366.5 | | All commodities................................| 125.1 | 124.2 | 123.9 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 123.0 | 122.5 | 122.1 | 01 | Farm products................................| 105.8 | 102.6 | 101.7 | 02 | Processed foods and feeds....................| 131.5 | 132.3 | 132.2 | | | | | | | Industrial commodities.........................| 125.5 | 124.5 | 124.3 | 03 | Textile products and apparel.................| 123.2 | 123.0 | 122.6 | 04 | Hides, skins, leather, and related products..| 147.8 | 150.3 | 149.5 | 05 | Fuels and related products and power 2/......| 77.0 | 74.8 | 74.9 | 06 | Chemicals and allied products 2/.............| 144.9 | 144.6 | 143.8 | 07 | Rubber and plastic products..................| 122.7 | 122.3 | 122.3 | 08 | Lumber and wood products.....................| 180.4 | 179.4 | 178.0 | 09 | Pulp, paper, and allied products.............| 172.2 | 171.7 | 171.4 | 10 | Metals and metal products....................| 129.2 | 127.3 | 126.7 | 11 | Machinery and equipment......................| 124.9 | 124.8 | 124.7 | 12 | Furniture and household durables.............| 131.5 | 131.4 | 131.3 | 13 | Nonmetallic mineral products.................| 135.2 | 136.1 | 136.5 | 14 | Transportation equipment.....................| 140.7 | 139.6 | 139.3 | 15 | Miscellaneous products.......................| 155.6 | 156.6 | 156.8 | | | | | | | Industrial commodities less fuels and related | | | | | products and power...........................| 139.3 | 138.8 | 138.5 | | | | | | | | | | | | OTHER COMMODITY GROUPINGS | | | | | | | | | 01-1 | Fruits and melons, fresh and dry vegetables, | | | | | and tree nuts................................| 116.2 | 108.0 | 114.1 | 01-2 | Grains.........................................| 98.7 | 82.8 | 77.3 | 01-3 | Slaughter livestock............................| 90.7 | 82.1 | 79.0 | 01-4 | Slaughter poultry..............................| 131.1 | 167.8 | 164.1 | 01-5 | Plant and animal fibers........................| 107.9 | 115.8 | 117.8 | 01-7 | Chicken eggs...................................| 83.8 | 107.7 | 107.4 | 01-8 | Hay, hayseeds, and oilseeds....................| 135.0 | 115.9 | 112.6 | 01-83 | Oilseeds.......................................| 121.0 | 104.6 | 101.2 | 01-9 | Other farm products............................| 'N.A.' | 139.8 | 155.2 | 02-1 | Cereal and bakery products.....................| 157.8 | 156.7 | 156.0 | 02-2 | Meats, poultry, and fish.......................| 115.1 | 116.5 | 114.1 | 02-22 | Processed poultry..............................| 116.5 | 127.3 | 129.4 | 02-5 | Sugar and confectionery........................| 134.2 | 134.7 | 134.8 | 02-6 | Beverages and beverage materials...............| 137.5 | 137.1 | 137.2 | 02-63 | Packaged beverage materials....................| 143.4 | 138.9 | 138.9 | 02-7 | Fats and oils..................................| 148.2 | 132.8 | 140.4 | 03-81 | Apparel........................................| 126.5 | 126.3 | 126.3 | 04-4 | Other leather and related products.............| 145.1 | 144.9 | 145.4 | 05-3 | Gas fuels 2/...................................| 82.3 | 74.1 | 67.8 | 05-4 | Electric power.................................| 128.4 | 134.5 | 135.3 | 05-7 | Refined petroleum products.....................| 54.9 | 49.0 | 49.9 | 06-3 | Drugs and pharmaceuticals......................| 244.1 | 246.4 | 246.6 | 06-5 | Agricultural chemicals and products............| 129.7 | 129.3 | 128.4 | 06-7 | Other chemicals and allied products............| 134.7 | 134.8 | 135.5 | 07-1 | Rubber and rubber products.....................| 115.2 | 115.4 | 115.4 | 07-11 | Rubber, except natural rubber..................| 116.8 | 116.8 | 116.3 | 07-13 | Miscellaneous rubber products..................| 138.5 | 138.9 | 138.8 | 07-2 | Plastic products...............................| 129.5 | 128.8 | 128.8 | 08-1 | Lumber.........................................| 182.7 | 180.1 | 173.5 | 09-1 | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 148.0 | 147.0 | 146.2 | 09-15 | Converted paper and paperboard products........| 152.8 | 152.4 | 152.1 | 10-1 | Iron and steel.................................| 125.3 | 122.8 | 120.4 | 10-2 | Nonferrous metals..............................| 125.6 | 120.6 | 120.8 | 10-25 | Nonferrous mill shapes.........................| 138.5 | 134.1 | 135.3 | 11-3 | Metalworking machinery and equipment...........| 147.3 | 147.3 | 147.4 | 11-4 | General purpose machinery and equipment........| 146.8 | 147.4 | 147.8 | 11-6 | Special industry machinery.....................| 159.0 | 159.3 | 159.5 | 11-7 | Electrical machinery and equipment.............| 121.1 | 120.9 | 120.8 | 11-9 | Miscellaneous machinery and equipment..........| 131.7 | 132.0 | 132.1 | 12-6 | Other household durable goods..................| 151.2 | 151.5 | 151.6 | 13-2 | Concrete ingredients...........................| 147.6 | 148.9 | 148.8 | 14-1 | Motor vehicles and equipment...................| 130.6 | 129.0 | 128.5 | 15-1 | Toys, sporting goods, small arms, etc..........| 132.4 | 132.5 | 132.4 | 15-4 | Photographic equipment and supplies............| 115.3 | 116.3 | 116.5 | 15-9 | Other miscellaneous products...................| 134.9 | 134.5 | 134.8 | __________________________________________________________|___________|___________|___________| 1/ Data for May 1998 have been revised to reflect the availability of late reports and corrections by respondents. All data are subject to revision four 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_Sep._1998_from: code | |base | | | | | | | |May |Aug. |Sep. | Sep. | Aug. | | |1998 2/|1998 2/|1998 2/| 1997 | 1998 __________________|______________________________________________|_____|_______|_______|_______|________|_________ | | | |Total mining industries...................... |12/84| 74.2 68.2 67.3 -18.8 -1.3 10 | Metal mining................................ |12/84| 75.5 73.9 74.5 -11.3 .8 12 | Coal mining................................. |12/85| 90.2 89.7 87.8 -4.5 -2.1 13 | Oil and gas extraction...................... |12/85| 72.6 64.8 63.8 -23.6 -1.5 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 132.2 132.8 132.7 2.6 -.1 | | | |Total manufacturing industries............... |12/84| 126.4 126.0 126.0 -1.0 0 20 | Food and kindred products................... |12/84| 125.9 127.4 127.2 -.5 -.2 21 | Tobacco manufactures........................ |12/84| 237.7 246.4 247.0 12.6 .2 22 | Textile mill products....................... |12/84| 119.1 118.7 118.4 -.4 -.3 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 124.9 124.9 125.0 1.1 .1 24 | Lumber and wood products, except furniture.. |12/84| 157.4 158.0 157.1 -1.1 -.6 25 | Furniture and fixtures...................... |12/84| 139.7 139.6 139.7 .8 .1 26 | Paper and allied products................... |12/84| 137.0 136.2 135.6 1.1 -.4 27 | Printing, publishing, and allied industries. |12/84| 173.9 173.8 174.2 3.0 .2 28 | Chemicals and allied products............... |12/84| 149.7 149.6 149.2 1.4 -.3 29 | Petroleum refining and related products..... |12/84| 70.2 63.6 64.4 -25.2 1.3 30 | Rubber and miscellaneous plastic products... |12/84| 122.3 121.8 121.8 -.9 0 31 | Leather and leather products................ |12/84| 137.2 137.4 137.2 .1 -.1 32 | Stone, clay, glass, and concrete products... |12/84| 129.0 129.9 130.3 2.2 .3 33 | Primary metal industries.................... |12/84| 122.1 120.7 120.1 -4.1 -.5 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 128.8 128.9 128.9 .7 0 35 | Machinery, except electrical................ |12/84| 117.7 117.4 117.5 -.6 .1 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 110.4 110.3 110.2 -.8 -.1 37 | Transportation equipment.................... |12/84| 133.0 131.9 131.6 -.2 -.2 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 126.2 126.5 126.2 .3 -.2 39 | Miscellaneous manufacturing industries...... |12/85| 129.7 129.8 129.9 .5 .1 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 101.7 101.8 101.9 1.1 .1 42 | Motor freight transportation and warehousing |06/93| 111.3 111.8 112.4 2.7 .5 43 | United States Postal Service................ |06/89| 132.3 132.3 132.3 0 0 44 | Water transportation........................ |12/92| 105.3 108.3 108.7 4.7 .4 45 | Transportation by air....................... |12/92| 124.3 124.2 126.3 3.1 1.7 46 | Pipe lines, except natural gas.............. |12/86| 99.3 99.2 99.2 .5 0 80 | Health services............................. |12/94| 107.5 107.7 107.8 1.4 .1 81 | Legal services.............................. |12/96| 106.1 106.3 106.6 3.9 .3 __________________________________________________________________________________________________________________ 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 May 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 | | | | | | | Apr. | May | June | July | Aug. | Sep. | 1998 | 1998 | 1998 | 1998 | 1998 | 1998 _______________________________________________________|________|________|________|________|________|_______ Finished goods...................................| 130.6 130.7 130.4 130.7 130.2 130.6 Finished consumer goods........................| 128.9 129.0 128.6 129.0 128.4 128.9 Finished consumer foods......................| 134.4 133.9 133.9 134.5 134.0 134.6 Crude......................................| 133.4 124.1 118.7 127.3 118.4 122.1 Processed..................................| 134.4 134.6 135.1 135.1 135.3 135.6 Finished consumer goods, excluding foods.....| 126.4 126.7 126.1 126.5 125.8 126.2 Nondurable goods less foods................| 122.1 122.8 122.1 122.4 121.7 121.8 Durable goods..............................| 132.8 132.4 132.2 132.5 132.0 133.2 Capital equipment..............................| 137.6 137.4 137.4 137.5 137.1 137.6 Manufacturing industries.....................| 137.7 137.9 138.0 138.0 137.8 137.9 Nonmanufacturing industries..................| 137.5 137.2 137.1 137.2 136.8 137.3 | Intermediate materials, supplies, and components.| 123.7 123.6 123.1 123.1 122.7 122.5 Materials and components for manufacturing.....| 126.9 126.8 126.5 126.2 126.0 125.6 Materials for food manufacturing.............| 122.3 123.9 123.2 122.6 122.5 123.9 Materials for nondurable manufacturing.......| 128.1 128.0 127.9 127.4 126.9 125.7 Materials for durable manufacturing..........| 129.9 129.1 128.1 127.7 127.8 127.2 Components for manufacturing.................| 125.9 125.9 125.9 125.9 125.8 125.8 Materials and components for construction......| 146.9 146.9 146.7 147.0 147.3 147.3 Processed fuels and lubricants.................| 82.1 82.3 80.2 80.6 79.3 79.9 Manufacturing industries ....................| 86.6 86.6 85.2 85.4 84.4 85.1 Nonmanufacturing industries..................| 79.3 79.7 77.2 77.6 76.2 76.7 Containers.....................................| 141.1 141.7 141.6 141.7 140.8 140.9 Supplies.......................................| 135.0 134.8 134.8 135.0 134.7 134.3 Manufacturing industries.....................| 140.7 140.6 140.8 140.7 140.6 140.6 Nonmanufacturing industries..................| 132.4 132.2 132.2 132.5 132.1 131.6 Feeds......................................| 101.6 99.5 99.3 101.2 98.0 92.8 Other supplies.............................| 136.2 136.2 136.2 136.3 136.3 136.3 | Crude materials for further processing...........| 100.5 100.1 98.4 96.6 94.0 92.5 Foodstuffs and feedstuffs......................| 106.6 105.6 105.6 102.6 101.5 99.6 Nonfood materials..............................| 92.6 92.7 89.9 88.9 85.5 84.2 Nonfood materials except fuel 2/.............| 87.8 88.0 84.7 85.2 80.4 83.3 Manufacturing 2/...........................| 79.8 80.0 77.0 77.5 72.8 75.6 Construction...............................| 199.7 198.6 195.6 194.2 195.3 194.1 Crude fuel 3/................................| 91.8 91.8 89.8 86.9 85.6 78.8 Manufacturing industries...................| 89.8 89.9 87.1 85.0 83.4 77.4 Nonmanufacturing industries................| 93.6 93.6 91.6 88.6 87.3 80.3 | Special groupings | | Finished goods, excluding foods..................| 129.4 129.6 129.2 129.5 128.9 129.3 Intermediate materials less foods and feeds......| 124.1 124.0 123.5 123.5 123.2 123.0 Intermediate foods and feeds.....................| 116.0 116.4 115.9 116.1 115.0 114.4 Crude materials less agricultural products 2/....| 92.3 92.2 89.1 88.0 84.6 83.0 | Finished energy goods............................| 75.8 76.4 75.1 75.3 73.6 73.5 Finished goods less energy.......................| 140.9 140.8 140.7 141.1 140.9 141.5 Finished consumer goods less energy..............| 142.2 142.1 142.0 142.5 142.4 143.1 | Finished goods less foods and energy.............| 143.4 143.4 143.4 143.6 143.5 144.1 Finished consumer goods less foods and energy....| 147.2 147.3 147.3 147.7 147.7 148.5 Consumer nondurable goods less foods and energy..| 158.0 158.7 158.8 159.2 159.8 160.2 | Intermediate energy goods........................| 81.8 82.1 80.0 80.3 79.1 79.6 Intermediate materials less energy...............| 132.9 132.8 132.7 132.6 132.4 132.1 Intermediate materials less foods and energy.....| 134.0 133.9 133.7 133.7 133.6 133.2 | Crude energy materials 2/........................| 72.7 72.7 69.2 68.8 65.3 64.2 Crude materials less energy......................| 116.7 116.0 115.9 113.0 111.4 109.5 Crude nonfood materials less energy 3/...........| 146.3 146.5 146.1 143.4 140.5 138.7 _____________________________________________________________________________________________________________ 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 May 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.