FOR DATA ONLY: (202) 606-7828 USDL 96-427 FOR TECHNICAL INFORMATION: TRANSMISSION OF MATERIAL IN (202) 606-7705 THIS RELEASE IS EMBARGOED MEDIA CONTACT: (202) 606-5902 UNTIL 8:30 A.M. (E.D.T), FRIDAY, OCTOBER 11, 1996 Producer Price Indexes - September 1996 The Producer Price Index for Finished Goods advanced 0.2 percent in September, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This followed an increase of 0.3 percent in August and no change in July. Prices received by domestic producers of intermediate goods rose 0.3 percent in September after increasing 0.2 percent in the prior month. The Crude Goods Price Index fell 1.5 percent following a 0.2-percent increase in August. (See table A.) Among finished goods, increases were registered in September for finished goods less food and energy, finished consumer foods, and finished energy goods. The index for finished goods less foods and energy turned up 0.3 percent after declining 0.1 percent a month earlier. This rise was led by increases in the indexes for passenger cars and light trucks (on a seasonally adjusted basis). 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.) 1995 Sept. 0.3 1.2 -0.5 0.2 1.8 -0.2 1.9 Oct. 0.2 -0.1 -0.1 0.3 2.3 0 0.1 Nov. 0.3 1.1 -1.0 0.4 2.1 -0.1 1.6 Dec. 0.6 0.1 3.8 0.1 2.3 0.2 1.6 1996 Jan. 0.2 -0.4 2.4 -0.1 2.2 0.2 2.3 Feb. -0.1 -0.2 -0.9 0.1 2.0 -0.5 1.6 Mar. 0.5 0.8 2.6 -0.1 2.4 0.1 -1.4 Apr. 0.2 -0.5 2.7 0 2.4 0.4 4.5 May r0.2 r0.2 r-0.4 r0.3 2.3 0.5 r1.1 June r0.1 r1.5 r-2.3 r0.1 2.7 -0.5 r-2.2 July 0 0.2 -0.9 0.1 2.6 -0.3 2.0 Aug. 0.3 1.0 0.7 -0.1 3.0 0.2 0.2 Sept. 0.2 0.2 0.2 0.3 2.9 0.3 -1.5 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for May 1996 have been revised to reflect the availability of late reports and corrections by respondents. -2- During the third quarter of 1996, prices received by domestic producers of finished goods advanced at a 2.2-percent seasonally adjusted annual rate, slightly more than the 1.9-percent rate posted in the second quarter. The index for finished consumer foods rose at a 6.1-percent seasonally adjusted annual rate after increasing at a 4.9-percent rate in the previous 3 months. Prices for finished energy goods advanced at a 0.5- percent rate from June to September after remaining unchanged from March to June. The index for finished goods other than foods and energy rose at a 1.1-percent seasonally adjusted rate in the third quarter after increasing at a 1.7-percent rate in the second quarter. Prices for intermediate goods edged up at a 0.6-percent annual rate in the 3 months ended September, after increasing at a 1.6-percent rate in the previous 3-month period. The index for crude materials for further processing rose at a 2.9-percent seasonally adjusted annual rate from June to September after increasing at a 14.3-percent rate from March to June. Before seasonal adjustment, the Producer Price Index for Finished Goods declined 0.2 percent in September to 131.6 (1982=100). From September 1995 to September 1996, the Finished Goods Price Index rose 2.9 percent. During this same period, prices for finished energy goods increased 7.1 percent, the index for finished consumer foods advanced 4.2 percent, and prices for finished goods other than foods and energy were up 1.4 percent. Prices received by domestic producers of intermediate goods increased 0.5 percent during the 12 months ended in September, and the index for crude materials rose 10.2 percent over the same period. Table B. Monthly and annual percent changes in selected price indexes for intermediate goods and crude goods, seasonally adjusted Interm Crude ediate goods goods Change in Change in intermedi crude ate Exclud goods Excludi goods ing from ng foods 12 months Energy foods from 12 and ago and months ago Month Foods Energy energy (unadj.) Foods (unadj energy (unadj.) .) 1995 Sept. 1.0 -1.4 0.0 4.8 3.5 2.7 -1.7 2.8 Oct. 2.9 0.5 -0.2 4.5 2.4 -0.7 -2.4 3.6 Nov. 2.1 0.2 -0.3 3.5 2.8 2.1 -1.7 4.7 Dec. 1.5 2.8 -0.2 3.3 -0.4 6.1 -0.9 5.5 1996 Jan. -0.1 2.8 -0.3 2.2 -0.4 7.7 -0.2 7.2 Feb. -0.2 -1.3 -0.4 1.1 -0.7 5.9 -0.2 8.3 Mar. 0 2.1 -0.2 0.7 0.1 -2.5 -2.3 7.5 Apr. 1.9 3.4 -0.1 0.6 4.3 8.3 -1.1 10.4 May r4.0 r1.0 r0.1 0.7 r6.3 r-4.6 r0.6 r12.7 June r1.2 r-4.0 r0 0.3 r1.1 r-7.1 r-1.5 9.4 July -0.1 -0.6 -0.3 -0.2 2.7 3.9 -1.6 12.4 Aug. 0.2 0.9 0.1 0 -0.3 0.7 0.1 13.9 Sept. 1.1 0.8 0.1 0.5 -3.8 0.6 0.6 10.2 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for May 1996 have been revised to reflect the availability of late reports and corrections by respondents. -3- Finished goods The Producer Price Index for finished consumer goods less food and energy increased 0.2 percent in September after being unchanged in the previous month. This index increased at a 0.6-percent seasonally adjusted annual rate in the third quarter after rising at a 2.5-percent rate from March to June. In September, the index for passenger cars turned up 1.2 percent after seasonal adjustment following a 0.2-percent decline in the prior month. (The index for passenger cars declined 2.4 percent in September before seasonal adjustment.) Prices for prescription drugs, light trucks, book publishing, and women's apparel also increased after declining in August. The index for girls' apparel rose after being unchanged a month ago. By contrast, the index for sanitary papers turned down 1.0 percent after rising 0.6 percent in the previous month. Prices for tobacco products, cosmetics, and periodical circulation fell more than a month earlier. The index for alcoholic beverages was unchanged after rising in August. The index for capital equipment turned up 0.3 percent after falling 0.1 percent in the previous month. From June to September, this index rose at a 2.0-percent seasonally adjusted annual rate after declining at a 0.3- percent rate in the second quarter. In September, the index for light trucks turned up 1.3 percent after falling 0.2 percent a month ago. Prices for civilian aircraft, communication and related equipment, and for transformers and power regulators also increased after declining in August. The index for electronic computers fell less than in the previous month. In addition, prices for heavy trucks and construction machinery and equipment rose more than in the prior month. Conversely, the rise in the index for ships slowed to 0.1 percent from 0.7 percent a month earlier. Prices for office and store machines and equipment and for x-ray and electromedical equipment turned down after rising in August. The index for commercial furniture declined after remaining unchanged in the previous month. The rise in the index for finished consumer foods slowed to 0.2 percent from 1.0 percent in August. This index increased at a 6.1-percent seasonally adjusted annual rate in the third quarter after rising at a 4.9- percent rate in the previous 3 months. In September, the index for pork turned down 7.5 percent after rising 8.7 percent in the prior month. Prices for beef and veal and eggs for fresh use rose less than in the previous month. The index for bakery products remained unchanged after rising in August. On the other hand, the rise in the index for fresh fruits and melons accelerated to 24.6 percent from 1.7 percent a month ago. Prices for dairy products also increased more than a month earlier. Indexes for fresh and dry vegetables and for finfish and shellfish fell less than in the previous month. In addition, prices for processed fruits and vegetables and roasted coffee turned up after falling in August. The rise in the index for finished energy goods slowed to 0.2 percent from 0.7 percent in the previous month. From June to September, this index increased at a 0.5- percent seasonally adjusted annual rate after remaining unchanged from March to June. In September, the index for residential natural gas turned down 2.1 percent after rising 0.7 percent a month earlier. Prices for home heating oil rose less than a month ago. The index for finished lubricants was unchanged after rising 1.9 percent in August. The rise in the index for residential electric power, however, accelerated to 0.4 percent from 0.1 percent in the prior month. Prices for gasoline increased 0.9 percent for the second consecutive month. -4- Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components increased 0.3 percent, seasonally adjusted, in September after rising 0.2 percent in August. The indexes for energy goods, materials for both durable and nondurable manufacturing, construction materials, and intermediate foods and feeds all registered gains in September. Excluding food and energy goods, prices for intermediate materials rose 0.1 percent in September. This index declined at a 0.3-percent seasonally adjusted annual rate in the third quarter, after remaining unchanged in the previous 3-month period. (See table B). In September, prices for intermediate energy goods increased 0.8 percent after rising 0.9 percent a month earlier. This index rose at a seasonally adjusted annual rate of 4.6 percent in the third quarter, after moving up at a 0.9-percent rate in the second quarter. In September, price increases for jet fuels, electric power, gasoline, diesel fuel, and liquefied petroleum gas outweighed declines for utility natural gas and liquid asphalt. The index for durable manufacturing materials rose 0.6 percent in September, after declining the same amount in August. This index fell at a seasonally adjusted annual rate of 3.6 percent from June 1996 to September 1996, after rising at a 4.7-percent rate in the second quarter. In September, the decline in the price for aluminum mill shapes slowed to 0.4 percent from 1.9 percent a month earlier. The indexes for both copper and brass mill shapes and aluminum also fell less than a month ago. The price for plywood rose more than in August, and the index for flat glass turned up after falling in the previous month. By contrast, the index for cold rolled steel sheets and strip edged up 0.1 percent, following a rise of 1.2 percent in August. Price increases for hot rolled steel sheet and strip also slowed in September from the previous month. The indexes for both copper and gold declined after advancing in August. Prices for nondurable manufacturing materials rose 0.2 percent in September, following an increase of 0.3 percent a month earlier. For the third quarter, this index declined at a seasonally adjusted annual rate of 1.2 percent, after a decreasing at a 3.0-percent rate in the second quarter. In September, price increases for plastic resins and materials, primary basic organic chemicals, inedible fats and oils, and for processed yarns and threads outweighed declines for paper, intermediate basic organic chemicals, phosphates, gray fabrics, and paint materials. The index for construction materials rose 0.4 percent after increasing 0.3 percent in August. In the third quarter, this index moved up at a 2.5- percent seasonally adjusted annual rate, compared with a 5.2-percent rate of increase in the second quarter. In September, price increases for softwood lumber, plywood, millwork, concrete products, fabricated structural metal products, and gypsum products more than offset declines for plastic construction products, air conditioning and refrigeration equipment, steel wire, and switchgear. The index for intermediate foods and feeds rose 1.1 percent in September, following an increase of 0.2 percent in August. This index rose at a seasonally adjusted annual rate of 5.3 percent over the last three months after surging at a 32.2-percent rate in the second quarter. In September, prices for prepared animal feeds advanced 2.4 percent after declining 0.1 percent a month earlier. The indexes for fluid milk products and for condensed and evaporated milk also turned up after falling in August. The index for flour fell less than in the previous month. Prices for confectionery materials rose more in September than a month earlier. By contrast, the index for pork declined 7.5 percent, following a rise of 8.7 percent in the previous month. Prices for malt and malt byproducts also turned down after rising in August. The indexes for beef and veal and for natural and processed cheese both rose less than a month ago. -5- Crude goods The Producer Price Index for Crude Materials for Further Processing fell 1.5 percent in September, seasonally adjusted, after increasing 0.2 percent in the previous month. Prices for crude foodstuffs and feedstuffs fell more than in the previous month, and the index for crude energy materials rose less than in August. By contrast, the index for basic industrial materials rose more than in the prior month. (See table B.) Prices for crude foodstuffs and feedstuffs fell 3.8 percent after declining 0.3 percent in the prior month. This index decreased at a seasonally adjusted annual rate of 6.1 percent from June 1996 to September 1996, following a 58.1-percent rate of increase in the second quarter. In September, the index for corn fell 24.0 percent following a 3.8-percent decline in August. Prices for slaughter broilers also fell more than in August. The indexes for slaughter hogs and soybeans turned down after rising a month ago. Prices for fluid milk rose less than in the prior month. By contrast, prices for slaughter cattle increased 6.8 percent after showing no change in the previous month. The indexes for Irish potatoes for processing and alfalfa hay turned up after falling in the prior month. Prices for fresh fruits and melons rose more than in August. Prices for crude energy materials rose 0.6 percent after increasing 0.7 percent in the previous month. This index rose at a seasonally adjusted annual rate of 22.9 percent from June 1996 to September 1996, following a 15.0-percent rate of decline in the second quarter. In September, price increases for crude petroleum and coal more than offset price declines for natural gas. The index for crude nonfood materials less energy increased 0.6 percent after rising 0.1 percent in August. This index declined at a seasonally adjusted annual rate of 3.6 percent in the third quarter of 1996 following a 7.9-percent rate of decline in the second quarter of 1996. In September, prices for leaf tobacco turned up 12.2 percent after falling 4.6 percent a month ago. The indexes for copper ores and copper base scrap fell less than in the prior month. Prices for aluminum base scrap rose more than in August. The indexes for hardwood logs, bolts, and timber and for iron and steel scrap increased after showing no change in the previous month. By contrast, prices for raw cotton turned down 2.9 percent after rising 6.5 percent a month ago. The indexes for cattle hides, gold ores, and pulpwood also fell after increasing in August. Prices for softwood logs, bolts, and timber rose less than in the prior month. Net output price indexes for mining, manufacturing, and other industries Mining. The Producer Price Index for the net output of total domestic mining industries rose 0.2 percent in September, after increasing 0.5 percent in August. (Net output price indexes are not seasonally adjusted.) During the third quarter of 1996, this index rose at an annual rate of 12.9 percent, after declining at a 12.7-percent rate in the second quarter. In September, prices for the oil and gas extraction industry group were unchanged, after rising 1.1 percent in the previous month. Price declines slowed, however, for the industry groups for metal mining and nonmetallic minerals mining. In addition, prices for the bituminous coal and lignite mining industry moved up 2.4 percent after showing no change a month earlier. In September, the Producer Price Index for Total Mining stood at 80.6 (December 1984=100), 17.3 percent higher than a year earlier. Manufacturing. The Producer Price Index for total domestic manufacturing industries inched up 0.1 percent in September, after rising 0.2 percent in August. From June to September, this index increased at a 1.3-percent annual rate, after rising at a 3.5-percent rate in the second quarter. In September, price increases for the petroleum refining, lumber and wood, apparel, and chemical industry groups more than offset declines for the transportation, paper, tobacco, and electrical machinery industry groups. In September, the index for total manufacturing was 127.5 (December 1984=100), 2.6 percent above its year earlier level. -6- Other. Among other industries in September, the index for electric power utilities also increased about the same as in August. Prices turned up after falling a month earlier for trucking (except local), deep sea domestic transportation of freight, water transportation of freight (not elsewhere classified), airports and airport services, travel agencies, ferrous scrap collection, waste materials other than metal and paper, truck rental and leasing, and other specialty hospitals. The index for telephone communications increased following no change in August. Price increases accelerated for radio broadcasting and for building cleaning and maintenance services (not elsewhere classified). By contrast, prices turned down for marine cargo handling, cable and other pay television services, operators of nonresidential buildings, real estate agents and managers, hotels and motels, and advertising agencies after rising in August. Prices fell after being unchanged for employment agencies and for farm products warehousing and storage. Prices fell more than in August for nonferrous scrap collection, freight transportation arrangement, and local trucking without storage. ***** Producer Price Index data for October 1996 will be released on Wednesday, 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.1996 from:| | |_______________________|_______________|_______________________________ | Dec. | | | | | | | | | May |Aug. |Sept. | Sept.| Aug. |June to|July to |Aug. to | 1995 1/|1996 2/|1996 2/|1996 2/| 1995 | 1996 | July | Aug. | Sept. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|____________ | Finished goods...................................| 100.000 131.1 131.9 131.6 2.9 -0.2 0 0.3 0.2 Finished consumer goods........................| 75.328 129.3 130.4 130.2 3.4 -.2 -.2 .5 .2 Finished consumer foods......................| 23.341 131.5 135.4 135.6 4.2 .1 .2 1.0 .2 Crude......................................| 1.542 117.3 121.0 127.4 3.3 5.3 -3.0 -2.1 3.9 Processed..................................| 21.799 132.5 136.4 136.1 4.2 -.2 .4 1.3 -.1 Finished consumer goods, excluding foods.....| 51.987 128.2 128.1 127.8 3.1 -.2 -.2 .2 .2 Nondurable goods less foods................| 35.295 124.1 124.2 124.2 3.6 0 -.2 .2 .1 Durable goods..............................| 16.692 134.2 133.6 132.4 1.8 -.9 -.3 0 .5 Capital equipment..............................| 24.672 138.2 138.0 137.2 1.1 -.6 .3 -.1 .3 Manufacturing industries.....................| 6.146 137.1 137.1 136.7 .8 -.3 .1 0 .1 Nonmanufacturing industries..................| 18.526 138.5 138.3 137.4 1.3 -.7 .3 -.1 .4 | Intermediate materials, supplies, and components.| 100.000 126.2 126.0 126.5 .5 .4 -.3 .2 .3 Materials and components for manufacturing.....| 50.055 128.8 128.3 128.6 -2.0 .2 -.5 0 .2 Materials for food manufacturing.............| 3.315 126.6 129.0 129.6 7.6 .5 -.6 .3 .5 Materials for nondurable manufacturing.......| 16.240 130.2 129.7 129.9 -5.1 .2 -.8 .3 .2 Materials for durable manufacturing..........| 11.189 132.5 130.4 131.2 -3.5 .6 -.9 -.6 .6 Components for manufacturing.................| 19.311 126.8 126.7 126.6 -.1 -.1 -.2 .1 0 Materials and components for construction......| 12.541 143.5 144.1 144.7 1.1 .4 -.1 .3 .4 Processed fuels and lubricants.................| 12.359 91.4 91.6 93.0 9.0 1.5 -.5 .9 .8 Manufacturing industries ....................| 4.913 94.7 93.6 94.3 7.9 .7 -1.3 .8 .4 Nonmanufacturing industries..................| 7.446 89.3 90.3 92.2 9.8 2.1 .1 .9 1.1 Containers.....................................| 3.875 141.6 138.7 138.4 -8.8 -.2 -.4 -.4 -.1 Supplies.......................................| 21.170 136.2 136.3 136.7 2.7 .3 0 .1 .3 Manufacturing industries.....................| 7.550 138.6 139.0 139.2 .8 .1 -.1 .4 .1 Nonmanufacturing industries..................| 13.620 135.0 134.9 135.5 3.8 .4 0 .1 .4 Feeds......................................| 1.541 137.2 138.3 142.0 35.4 2.7 .9 .1 2.3 Other supplies.............................| 12.079 134.6 134.4 134.6 .4 .1 -.1 .1 .1 | Crude materials for further processing...........| 100.000 115.9 114.5 113.0 10.2 -1.3 2.0 .2 -1.5 Foodstuffs and feedstuffs......................| 44.045 127.7 129.4 124.7 14.6 -3.6 2.7 -.3 -3.8 Nonfood materials..............................| 55.955 103.8 100.6 101.1 7.0 .5 1.7 .4 .6 Nonfood materials except fuel 3/.............| 38.758 106.1 103.7 107.0 2.0 3.2 .1 1.2 3.2 Manufacturing 3/...........................| 34.758 98.1 95.6 98.9 2.4 3.5 .1 1.2 3.6 Construction...............................| 4.000 193.2 193.9 194.7 -2.3 .4 -.6 1.0 .5 Crude fuel 4/................................| 17.197 90.1 85.7 81.6 21.1 -4.8 5.2 -1.0 -4.8 Manufacturing industries...................| 3.654 88.5 84.5 81.0 18.4 -4.1 4.7 -.9 -4.1 Nonmanufacturing industries................| 13.543 91.6 87.1 82.7 21.6 -5.1 5.4 -1.0 -5.1 | Special groupings | | Finished goods, excluding foods..................|5/ 76.659 130.9 130.8 130.3 2.4 -.4 -.1 .1 .2 Intermediate materials less foods and feeds......|6/ 95.144 126.0 125.7 126.1 -.2 .3 -.4 .2 .2 Intermediate foods and feeds.....................|6/ 4.856 130.3 132.3 133.8 15.4 1.1 -.1 .2 1.1 Crude materials less agricultural products 3/ 7/.|8/ 53.384 103.1 99.9 100.4 7.8 .5 1.6 .3 .6 | Finished energy goods............................|5/ 13.443 84.6 84.5 84.6 7.1 .1 -.9 .7 .2 Finished goods less energy.......................|5/ 86.557 139.0 140.0 139.6 2.2 -.3 .1 .2 .2 Finished consumer goods less energy..............|5/ 61.885 139.3 140.7 140.5 2.6 -.1 .1 .4 .2 | Finished goods less foods and energy.............|5/ 63.216 142.0 141.8 141.1 1.4 -.5 .1 -.1 .3 Finished consumer goods less foods and energy....|5/ 38.544 144.3 144.1 143.5 1.6 -.4 -.1 0 .2 Consumer nondurable goods less foods and energy..|5/ 21.852 151.5 151.6 151.6 1.4 0 .2 -.1 0 | Intermediate energy goods........................|6/ 12.503 91.2 91.4 92.8 8.9 1.5 -.6 .9 .8 Intermediate materials less energy...............|6/ 87.497 133.8 133.5 133.9 -.7 .3 -.3 .1 .2 Intermediate materials less foods and energy.....|6/ 82.641 134.1 133.6 133.9 -1.6 .2 -.3 .1 .1 | Crude energy materials 3/........................|8/ 32.219 83.3 81.0 81.5 20.9 .6 3.9 .7 .6 Crude materials less energy......................|8/ 67.781 135.0 134.7 131.5 5.4 -2.4 1.3 -.1 -2.5 Crude nonfood materials less energy 4/...........|8/ 23.736 158.1 152.5 153.1 -10.3 .4 -1.6 .1 .6 | ____________________________________________________________________________________________________________________________________ 1/ Comprehensive relative importance figures are initially computed 3/ Includes crude petrolem. 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/ Pecent 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 1996 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.1996 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | | May |Aug. |Sept. | Sept. | Aug. |June to|July to|Aug. to | |1996 1/|1996 1/|1996 1/| 1995 | 1996 | July | Aug. | Sept. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 131.1 131.9 131.6 2.9 -0.2 0 0.3 0.2 | FINISHED CONSUMER GOODS...............................| 129.3 130.4 130.2 3.4 -.2 -.2 .5 .2 | FINISHED CONSUMER FOODS..............................| 131.5 135.4 135.6 4.2 .1 .2 1.0 .2 | | 01-11 | Fresh fruits and melons 2/..........................| 90.9 94.8 118.1 30.2 24.6 -15.4 1.7 24.6 01-13 | Fresh and dry vegetables 2/.........................| 135.2 115.3 106.4 -32.2 -7.7 2.3 -11.9 -7.7 01-71-07 | Eggs for fresh use (Dec. 1991=100) 2/...............| 89.8 104.0 107.7 20.2 3.6 -.8 9.4 3.6 02-11 | Bakery products 2/..................................| 168.6 170.9 170.9 2.9 0 .5 .5 0 02-13 | Milled rice 2/......................................| 130.8 133.1 132.7 12.1 -.3 .6 .3 -.3 02-14-02 | Pasta products (June 1985=100) 2/...................| 126.7 126.3 126.2 -.3 -.1 -.1 -.2 -.1 02-21-01 | Beef and veal.......................................| 94.8 102.5 103.6 7.5 1.1 2.6 4.9 1.1 02-21-04 | Pork................................................| 122.0 137.4 123.0 14.8 -10.5 -3.3 8.7 -7.5 02-22-03 | Processed young chickens............................| 117.0 127.7 128.6 4.6 .7 1.4 -.4 0 02-22-06 | Processed turkeys...................................| 106.1 105.4 106.1 -6.6 .7 .3 -3.8 -2.3 02-23 | Finfish and shellfish...............................| 153.8 159.3 157.7 -5.1 -1.0 5.2 -2.3 -1.1 02-3 | Dairy products......................................| 126.9 136.5 139.6 15.9 2.3 1.7 1.3 1.8 02-4 | Processed fruits and vegetables 2/..................| 127.6 128.0 129.1 5.0 .9 .3 -.2 .9 02-55 | Confectionery end products 2/.......................| 167.3 167.3 167.7 3.4 .2 -.5 0 .2 02-62 | Soft drinks.........................................| 133.6 134.2 134.2 .5 0 .6 .6 .4 02-63-01 | Roasted coffee......................................| 127.7 127.6 127.1 -10.6 -.4 -1.5 -1.5 .1 02-76 | Shortening and cooking oils 2/......................| 142.0 139.2 140.0 -1.8 .6 -1.6 1.3 .6 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 128.2 128.1 127.8 3.1 -.2 -.2 .2 .2 | | 02-61 | Alcoholic beverages.................................| 132.8 133.8 133.6 3.6 -.1 .8 .2 0 03-81-01 | Women's apparel 2/..................................| 119.5 120.1 120.2 0 .1 .1 -.2 .1 03-81-02 | Men's and boys' apparel.............................| 132.2 132.2 132.2 1.4 0 0 -.2 0 03-81-03 | Girls', children's, and infants' apparel 2/.........| 121.8 122.1 123.4 .6 1.1 .2 0 1.1 03-82 | Textile housefurnishings 2/.........................| 121.2 123.4 123.5 2.9 .1 1.7 -.2 .1 04-3 | Footwear............................................| 141.2 142.0 142.1 2.0 .1 -.2 .4 .2 05-41 | Residential electric power (Dec. 1990=100)..........| 112.1 116.9 116.7 1.9 -.2 -.8 .1 .4 05-51 | Residential gas (Dec. 1990=100).....................| 109.8 111.4 109.5 6.0 -1.7 1.4 .7 -2.1 05-71 | Gasoline............................................| 80.1 73.2 73.3 14.2 .1 -2.8 .9 .9 05-73-02-01| Fuel oil No. 2......................................| 69.4 67.3 72.8 25.3 8.2 4.4 4.1 2.0 06-35 | Pharmaceutical preps, ethical (Prescription)........| 265.6 265.0 267.4 3.3 .9 .4 -.6 1.1 06-36 | Pharmaceutical preps,proprietary (Over-counter).....| 183.1 183.3 183.3 -1.8 0 .1 .1 .1 06-71 | Soaps and synthetic detergents 2/...................| 125.3 125.2 125.4 2.0 .2 .1 -.2 .2 06-75 | Cosmetics and other toilet preparations 2/..........| 130.3 130.0 128.5 0 -1.2 .2 -.1 -1.2 07-12 | Tires, tubes, tread, etc 2/.........................| 97.4 96.8 96.8 -4.2 0 -1.3 .8 0 09-15-01 | Sanitary papers and health products 2/..............| 150.8 149.5 148.0 -.9 -1.0 -1.1 .6 -1.0 09-31-01 | Newspaper circulation...............................| 197.2 199.8 199.5 5.3 -.2 .9 .3 -.2 09-32-01 | Periodical circulation..............................| 180.8 180.4 178.2 .8 -1.2 0 -.1 -.9 09-33 | Book publishing 2/..................................| 194.1 192.2 193.0 3.2 .4 .2 -1.2 .4 12-1 | Household furniture 2/..............................| 144.4 144.6 144.8 1.6 .1 -.1 0 .1 12-3 | Floor coverings 2/..................................| 126.4 127.2 127.6 2.9 .3 .9 .6 .3 12-4 | Household appliances 2/.............................| 113.1 113.1 113.0 .4 -.1 0 .1 -.1 12-5 | Home electronic equipment 2/........................| 79.1 78.8 79.0 1.4 .3 .1 -.4 .3 12-62 | Household glassware 2/..............................| 157.9 157.8 158.0 3.0 .1 -.1 0 .1 12-64 | Household flatware 2/...............................| 138.5 137.7 137.7 -.1 0 -.6 0 0 12-66 | Lawn and garden equip., ex. tractors 2/.............| 132.2 132.6 132.6 1.6 0 .2 .2 0 14-11-01 | Passenger cars......................................| 135.4 133.6 130.4 2.5 -2.4 -.9 -.2 1.2 15-11 | Toys, games, and children's vehicles................| 125.4 125.1 125.4 .8 .2 .1 0 .5 15-12 | Sporting and athletic goods 2/......................| 123.4 123.8 123.7 1.1 -.1 -.1 .5 -.1 15-2 | Tobacco products 2/.................................| 240.0 240.5 238.2 2.1 -1.0 .1 -.2 -1.0 15-5 | Mobile homes 2/.....................................| 149.3 150.2 150.4 3.6 .1 .2 -.1 .1 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 129.3 129.2 129.1 1.1 -.1 -3.2 .1 -.1 15-94-04 | Costume jewelry and novelties 2/....................| 137.0 138.9 138.1 2.4 -.6 1.4 1.4 -.6 | | | CAPITAL EQUIPMENT.....................................| 138.2 138.0 137.2 1.1 -.6 .3 -.1 .3 | | 11-1 | Agricultural machinery and equipment 2/.............| 146.1 145.2 145.6 1.1 .3 0 .3 .3 11-2 | Construction machinery and equipment................| 139.7 140.0 140.1 2.2 .1 -.1 .1 .3 11-37 | Metal cutting machine tools 2/......................| 152.5 152.9 153.3 2.6 .3 -.1 .1 .3 11-38 | Metal forming machine tools 2/......................| 149.5 150.8 150.5 2.5 -.2 .5 -.1 -.2 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 136.0 136.4 136.4 1.6 0 .1 .1 0 11-41 | Pumps, compressors, and equipment...................| 143.4 143.6 143.7 3.2 .1 .4 .3 0 11-44 | Industrial material handling equipment 2/...........| 127.3 127.6 127.6 1.4 0 0 .2 0 11-51 | Electronic computers (Dec. 1990=100) 2/.............| 43.0 41.2 40.9 -18.0 -.7 .7 -1.9 -.7 11-62 | Textile machinery 2/................................| 148.4 148.4 148.4 .9 0 0 0 0 11-64 | Paper industries machinery (June 1982=100) 2/.......| 153.7 154.2 154.1 1.5 -.1 .1 .2 -.1 11-65 | Printing trades machinery 2/........................| 136.5 137.5 137.7 2.7 .1 0 .2 .1 11-74 | Transformers and power regulators 2/................| 130.3 128.3 128.5 -.5 .2 -.5 -1.1 .2 11-76 | Communication & related equip. (Dec. 1985=100) 2/...| 112.7 113.1 113.2 .8 .1 .2 -.1 .1 11-79-05 | X-ray and electromedical equipment 2/...............| 109.7 109.8 109.7 -2.0 -.1 -.1 .2 -.1 11-91 | Oil field and gas field machinery 2/................| 117.1 118.1 118.1 3.0 0 .3 0 0 11-92 | Mining machinery and equipment 2/...................| 138.9 139.4 139.7 2.3 .2 .4 0 .2 11-93 | Office and store machines and equipment 2/..........| 112.0 112.1 111.7 .2 -.4 .2 .1 -.4 12-2 | Commercial furniture 2/.............................| 150.7 151.7 151.5 2.0 -.1 -.1 0 -.1 14-11-05 | Light motor trucks..................................| 159.8 158.6 153.9 1.6 -3.0 -.2 -.2 1.3 14-11-06 | Heavy motor trucks..................................| 147.9 146.2 145.8 .6 -.3 .6 .1 .4 14-14 | Truck trailers 2/...................................| 130.4 130.1 130.0 -1.5 -.1 .1 -.5 -.1 14-21-02 | Civilian aircraft (Dec. 1985=100)...................| 146.3 147.4 147.4 3.2 0 1.9 -.3 .1 14-31 | Ships (Dec. 1985=100) 2/............................| 138.3 138.9 139.0 4.6 .1 -.2 .7 .1 14-4 | Railroad equipment..................................| 137.7 137.2 137.0 1.0 -.1 .1 -.1 .1 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 126.2 126.0 126.5 .5 .4 -.3 .2 .3 | | | INTERMEDIATE FOODS AND FEEDS..........................| 130.3 132.3 133.8 15.4 1.1 -.1 .2 1.1 | | 02-12-03 | Flour 2/............................................| 163.1 132.4 129.7 -1.5 -2.0 -8.1 -6.5 -2.0 02-53 | Refined sugar 2/....................................| 122.7 126.2 126.6 6.8 .3 -.7 -.5 .3 02-54 | Confectionery materials.............................| 106.7 106.7 109.7 .8 2.8 -2.3 .2 2.6 02-72 | Crude vegetable oils 2/.............................| 128.9 119.4 120.6 -4.8 1.0 -5.2 .8 1.0 02-9 | Prepared animal feeds 2/............................| 138.6 139.7 143.0 29.6 2.4 1.2 -.1 2.4 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 126.0 125.7 126.1 -.2 .3 -.4 .2 .2 | | 03-1 | Synthetic fibers 2/.................................| 111.0 113.0 113.3 1.5 .3 1.7 0 .3 03-2 | Processed yarns and threads 2/......................| 114.5 114.8 115.9 2.2 1.0 1.1 .3 1.0 03-3 | Gray fabrics 2/.....................................| 121.6 121.6 121.2 -1.1 -.3 .2 .2 -.3 03-4 | Finished fabrics 2/.................................| 123.5 123.9 123.8 1.2 -.1 -.1 .2 -.1 03-83-03 | Industrial textile products 2/......................| 127.4 121.2 127.9 7.3 5.5 -.2 -.2 5.5 04-2 | Leather 2/..........................................| 178.1 174.8 176.8 -5.2 1.1 -1.5 1.1 1.1 05-32 | Liquefied petroleum gas 2/..........................| 76.3 78.1 78.2 25.3 .1 0 5.0 .1 ____________________________________________________________________________________________________________________________________ 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.1996 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | | May |Aug. |Sept. | Sept. | Aug. |June to|July to|Aug. to | |1996 1/|1996 1/|1996 1/| 1995 | 1996 | July | Aug. | Sept. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 129.6 138.2 139.5 1.2 0.9 -0.5 0.5 0.8 05-43 | Industrial electric power...........................| 135.0 135.3 136.1 1.8 .6 -2.2 .5 .5 05-52 | Commercial natural gas (Dec. 1990=100) 2/...........| 100.3 102.0 99.5 7.0 -2.5 1.0 1.3 -2.5 05-53 | Industrial natural gas (Dec. 1990=100) 2/...........| 97.0 98.4 97.2 12.5 -1.2 .3 .5 -1.2 05-54 | Natural gas to electric utilities (Dec. 1990=100) 2/| 90.1 88.8 86.6 6.3 -2.5 .5 .3 -2.5 05-72-03 | Jet fuels...........................................| 68.8 65.3 72.5 29.9 11.0 .2 3.0 6.8 05-73-03 | No. 2 Diesel fuel...................................| 74.5 69.6 73.6 25.8 5.7 5.1 0 .4 05-74 | Residual fuel 2/....................................| 61.9 60.9 61.0 32.9 .2 2.2 -.3 .2 06-1 | Industrial chemicals 2/.............................| 127.7 126.9 127.4 -1.1 .4 -2.0 .5 .4 06-21 | Prepared paint......................................| 145.8 146.3 146.5 2.2 .1 .1 0 .3 06-22 | Paint materials 2/..................................| 142.9 141.4 140.7 .1 -.5 -1.7 0 -.5 06-31 | Medicinal and botanical chemicals 2/................| 129.2 129.2 128.8 .5 -.3 0 -.2 -.3 06-4 | Fats and oils, inedible 2/..........................| 130.7 147.4 160.8 29.4 9.1 2.1 8.8 9.1 06-51 | Mixed fertilizers...................................| 116.0 114.7 114.4 2.6 -.3 -.2 .3 .3 06-52-01 | Nitrogenates........................................| 132.8 121.1 122.9 2.2 1.5 -.2 1.0 1.8 06-52-02 | Phosphates 2/.......................................| 119.1 111.9 110.4 1.2 -1.3 -1.6 -3.2 -1.3 06-53 | Other agricultural chemicals........................| 145.3 145.5 146.0 .8 .3 .3 .5 .3 06-6 | Plastic resins and materials 2/.....................| 130.6 134.7 137.1 -3.9 1.8 -.3 1.6 1.8 07-11-02 | Synthetic rubber 2/.................................| 122.0 122.0 121.4 -6.0 -.5 .1 -.1 -.5 07-21 | Plastic construction products 2/....................| 130.6 131.9 131.1 -2.7 -.6 .8 -.5 -.6 07-22 | Unsupported plastic film, sheet, & other shapes.....| 131.6 133.2 134.0 -2.2 .6 .1 .5 -.1 07-26 | Plastic parts and components for manufacturing 2/...| 117.7 117.4 117.6 .7 .2 0 -.3 .2 08-11 | Softwood lumber 2/..................................| 192.1 199.3 204.7 13.8 2.7 -3.2 4.3 2.7 08-12 | Hardwood lumber 2/..................................| 163.2 163.1 163.3 -1.3 .1 -.2 .2 .1 08-2 | Millwork 2/.........................................| 165.8 168.0 168.8 2.8 .5 .1 .6 .5 08-3 | Plywood 2/..........................................| 158.3 158.4 167.4 -3.5 5.7 -.4 2.0 5.7 09-11 | Woodpulp 2/.........................................| 114.1 128.8 128.4 -35.2 -.3 5.3 2.3 -.3 09-13 | Paper 2/............................................| 149.4 145.1 143.3 -13.9 -1.2 -1.4 -.3 -1.2 09-14 | Paperboard 2/.......................................| 154.0 148.6 148.5 -22.0 -.1 -2.7 -.1 -.1 09-15-03 | Paper boxes and containers 2/.......................| 155.3 148.6 148.2 -12.2 -.3 -.9 -1.1 -.3 09-2 | Building paper and board 2/.........................| 137.9 137.5 140.6 -3.6 2.3 -1.1 2.4 2.3 09-37 | Commercial printing (June 1982=100) 2/..............| 148.5 148.8 148.8 1.8 0 -.1 .4 0 10-15 | Foundry and forge shop products.....................| 132.6 132.9 132.9 2.2 0 -.1 .2 .1 10-17 | Steel mill products 2/..............................| 115.2 116.1 116.4 -3.2 .3 .1 .6 .3 10-22 | Primary nonferrous metals 2/........................| 135.2 117.2 116.6 -20.6 -.5 -4.7 -9.9 -.5 10-25-01 | Aluminum mill shapes 2/.............................| 145.3 143.1 142.5 -11.1 -.4 -.5 -1.9 -.4 10-25-02 | Copper and brass mill shapes 2/.....................| 191.4 170.6 170.5 -12.5 -.1 -4.9 -2.2 -.1 10-26 | Nonferrous wire and cable 2/........................| 150.8 144.6 145.0 -3.6 .3 -2.7 -.6 .3 10-3 | Metal containers 2/.................................| 109.7 109.6 109.6 -7.0 0 .2 0 0 10-4 | Hardware............................................| 143.6 144.1 144.1 1.7 0 .1 .3 .1 10-5 | Plumbing fixtures and brass fittings................| 171.5 171.4 171.7 2.9 .2 .8 -.3 .4 10-6 | Heating equipment...................................| 150.8 151.9 151.8 2.4 -.1 0 .6 .1 10-7 | Fabricated structural metal products................| 137.5 137.9 138.1 1.2 .1 .1 .1 .1 10-88 | Fabricated ferrous wire products (June 1982=100) 2/.| 127.2 127.1 127.6 1.0 .4 0 -.1 .4 10-89 | Other misc. metal products 2/.......................| 125.6 125.6 125.8 .4 .2 0 .1 .2 11-45 | Mechanical power transmission equipment.............| 151.3 151.5 151.5 2.3 0 .3 .2 .2 11-48 | Air conditioning and refrigeration equipment........| 132.7 132.9 132.2 1.3 -.5 .2 .2 -.5 11-49-02 | Metal valves, ex.fluid power (Dec. 1982=100)........| 150.0 149.8 149.9 2.1 .1 -.3 -.5 .2 11-49-05 | Ball and roller bearings 2/.........................| 157.2 157.8 157.9 3.3 .1 .3 .1 .1 11-71 | Wiring devices......................................| 151.1 151.6 151.7 2.1 .1 .3 0 .1 11-73 | Motors, generators, motor generator sets............| 146.1 145.9 146.0 1.0 .1 .1 -.1 .3 11-75 | Switchgear, switchboard, etc., equipment............| 142.1 142.7 142.5 1.3 -.1 -.5 .8 -.1 11-78 | Electronic components and accessories 2/............| 108.5 108.8 108.0 -4.3 -.7 -1.0 .3 -.7 11-94 | Internal combustion engines.........................| 138.4 139.4 139.5 2.3 .1 -.1 .1 .2 11-95 | Machine shop products 2/............................| 133.1 133.3 133.7 1.7 .3 .4 -.1 .3 13-11 | Flat glass 2/.......................................| 109.4 108.6 109.1 -2.8 .5 1.1 -1.4 .5 13-22 | Cement..............................................| 134.8 135.3 135.3 4.2 0 .2 .2 .4 13-3 | Concrete products...................................| 133.0 133.6 133.9 3.0 .2 .4 0 .4 13-6 | Asphalt felts and coatings 2/.......................| 100.2 100.6 100.9 -.2 .3 .9 -.4 .3 13-7 | Gypsum products 2/..................................| 148.0 157.6 159.3 4.3 1.1 0 3.7 1.1 13-8 | Glass containers 2/.................................| 129.6 129.8 129.3 -1.4 -.4 0 .1 -.4 14-12 | Motor vehicle parts 2/..............................| 116.3 115.8 115.8 -.1 0 .1 0 0 14-23 | Aircraft engines & engine parts (Dec. 1985=100).....| 134.0 134.4 134.4 .6 0 -.1 .2 .1 14-25 | Aircraft parts & aux.equip.,nec (June 1985=100) 2/..| 139.4 137.9 138.0 2.5 .1 -.3 0 .1 15-42 | Photographic supplies 2/............................| 129.6 127.3 129.7 1.1 1.9 -.1 -1.9 1.9 15-6 | Medical/surgical/personal aid devices...............| 143.5 143.7 143.4 1.0 -.2 -.1 .1 -.1 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 115.9 114.5 113.0 10.2 -1.3 2.0 .2 -1.5 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 127.7 129.4 124.7 14.6 -3.6 2.7 -.3 -3.8 | | 01-21 | Wheat...............................................| 175.3 128.5 120.6 -6.5 -6.1 -6.2 -9.3 -9.8 01-22-02-05| Corn................................................| 202.0 193.2 145.7 27.7 -24.6 11.1 -3.8 -24.0 01-31 | Slaughter cattle....................................| 89.7 97.1 102.5 7.9 5.6 5.2 0 6.8 01-32 | Slaughter hogs......................................| 97.8 100.8 90.0 10.6 -10.7 .1 3.7 -6.0 01-41-02 | Slaughter broilers/fryers...........................| 148.7 158.3 157.1 3.0 -.8 -7.4 -1.2 -3.3 01-42 | Slaughter turkeys...................................| 119.5 122.8 121.3 -12.3 -1.2 2.4 -8.5 -5.0 01-6 | Fluid milk..........................................| 104.9 115.4 118.2 25.6 2.4 4.5 3.7 .9 01-83-01-31| Soybeans............................................| 138.7 139.7 141.1 35.2 1.0 1.2 11.4 -.4 02-52-01-01| Cane sugar,raw 2/...................................| 119.1 118.8 119.4 -1.5 .5 -.3 .3 .5 | | | CRUDE NONFOOD MATERIALS..............................| 103.8 100.6 101.1 7.0 .5 1.7 .4 .6 | | 01-51-01-01| Raw cotton..........................................| 138.2 128.9 123.2 -16.9 -4.4 -.3 6.5 -2.9 01-92-01-01| Leaf tobacco 2/.....................................| (3) 98.5 110.5 2.7 12.2 (3) -4.6 12.2 04-11 | Cattle hides........................................| 178.1 190.7 186.1 -7.0 -2.4 .5 5.1 -3.6 05-1 | Coal 2/.............................................| 97.0 93.6 96.5 1.4 3.1 -.7 .1 3.1 05-31 | Natural gas 2/......................................| 88.0 83.1 77.8 28.0 -6.4 6.6 -1.2 -6.4 05-61 | Crude petroleum 2/..................................| 61.0 61.6 66.1 28.6 7.3 3.5 3.2 7.3 08-5 | Logs, timber, etc. 2/...............................| 202.8 202.4 204.1 -5.5 .8 -.7 1.6 .8 09-12 | Wastepaper 2/.......................................| 124.1 135.8 139.7 -55.0 2.9 2.6 2.7 2.9 10-11 | Iron ore 2/.........................................| 94.8 97.7 96.7 3.4 -1.0 0 0 -1.0 10-12 | Iron and steel scrap 2/.............................| 199.5 191.1 191.9 -7.0 .4 -1.6 0 .4 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 97.2 84.3 83.7 -16.5 -.7 -8.3 -2.3 -.7 10-23-01 | Copper base scrap 2/................................| 182.9 153.9 151.9 -24.2 -1.3 -4.8 -4.1 -1.3 10-23-02 | Aluminum base scrap.................................| 179.9 168.6 168.8 -17.7 .1 -6.4 .6 1.7 13-21 | Construction sand, gravel, and crushed stone........| 145.6 146.0 145.9 1.8 -.1 .2 .1 0 ____________________________________________________________________________________________________________________________________ 1/ The indexes for May 1996 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. 1Table 3. Producer Price Indexes for selected commodity groupings (1982=100 unless otherwise indicated) _______________________________________________________________________________________________ | | | | | Unadjusted index 1/ | Commodity| |___________________________________| code | Grouping | May 1996 | Aug. 1996 |Sept. 1996 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 368.0 | 370.1 | 369.3 | | All commodities................................| 128.1 | 128.1 | 128.0 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 131.2 | 133.5 | 132.4 | 01 | Farm products................................| 128.1 | 128.3 | 124.8 | 02 | Processed foods and feeds....................| 132.7 | 136.1 | 136.2 | | | | | | | Industrial commodities.........................| 127.5 | 127.0 | 127.2 | 03 | Textile products and apparel.................| 122.3 | 122.3 | 123.0 | 04 | Hides, skins, leather, and related products..| 149.2 | 150.4 | 150.4 | 05 | Fuels and related products and power 2/......| 86.6 | 86.0 | 86.7 | 06 | Chemicals and allied products 2/.............| 142.2 | 142.1 | 142.7 | 07 | Rubber and plastic products..................| 123.7 | 124.0 | 124.2 | 08 | Lumber and wood products.....................| 175.8 | 177.4 | 180.1 | 09 | Pulp, paper, and allied products.............| 168.0 | 166.9 | 166.8 | 10 | Metals and metal products....................| 132.4 | 130.0 | 130.1 | 11 | Machinery and equipment......................| 126.4 | 126.4 | 126.3 | 12 | Furniture and household durables.............| 130.3 | 130.6 | 130.6 | 13 | Nonmetallic mineral products.................| 130.8 | 131.3 | 131.7 | 14 | Transportation equipment.....................| 141.6 | 141.0 | 139.7 | 15 | Miscellaneous products.......................| 147.8 | 148.2 | 148.2 | | | | | | | Industrial commodities less fuels and related | | | | | products and power...........................| 138.7 | 138.3 | 138.3 | | | | | | | | | | | | OTHER COMMODITY GROUPINGS | | | | | | | | | 01-1 | Fruits and melons, fresh and dry vegetables, | | | | | and tree nuts................................| 117.1 | 111.5 | 121.5 | 01-2 | Grains.........................................| 190.5 | 170.6 | 138.7 | 01-3 | Slaughter livestock............................| 93.5 | 99.6 | 100.5 | 01-4 | Slaughter poultry..............................| 140.6 | 148.6 | 147.4 | 01-5 | Plant and animal fibers........................| 137.4 | 128.3 | 122.8 | 01-7 | Chicken eggs...................................| 112.4 | 130.6 | 134.0 | 01-8 | Hay, hayseeds, and oilseeds....................| 155.2 | 155.9 | 158.1 | 01-83 | Oilseeds.......................................| 150.8 | 151.9 | 151.9 | 01-9 | Other farm products............................| 'N.A.' | 146.8 | 164.8 | 02-1 | Cereal and bakery products.....................| 163.6 | 160.0 | 159.6 | 02-2 | Meats, poultry, and fish.......................| 113.1 | 121.2 | 118.6 | 02-22 | Processed poultry..............................| 117.2 | 123.7 | 124.5 | 02-5 | Sugar and confectionery........................| 137.3 | 138.0 | 138.9 | 02-6 | Beverages and beverage materials...............| 134.3 | 135.0 | 134.8 | 02-63 | Packaged beverage materials....................| 126.3 | 126.3 | 125.9 | 02-7 | Fats and oils..................................| 137.1 | 133.9 | 133.6 | 03-81 | Apparel........................................| 124.9 | 125.1 | 125.2 | 04-4 | Other leather and related products.............| 141.2 | 140.7 | 141.2 | 05-3 | Gas fuels 2/...................................| 83.8 | 80.7 | 76.9 | 05-4 | Electric power.................................| 131.4 | 136.6 | 137.2 | 05-7 | Refined petroleum products.....................| 75.1 | 70.0 | 71.9 | 06-3 | Drugs and pharmaceuticals......................| 214.8 | 214.1 | 215.1 | 06-5 | Agricultural chemicals and products............| 134.9 | 130.0 | 130.0 | 06-7 | Other chemicals and allied products............| 132.5 | 132.6 | 132.3 | 07-1 | Rubber and rubber products.....................| 116.6 | 116.3 | 116.5 | 07-11 | Rubber, except natural rubber..................| 121.3 | 121.3 | 120.7 | 07-13 | Miscellaneous rubber products..................| 136.5 | 136.6 | 137.2 | 07-2 | Plastic products...............................| 130.3 | 130.9 | 131.0 | 08-1 | Lumber.........................................| 181.3 | 186.3 | 190.1 | 09-1 | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 148.4 | 146.2 | 145.5 | 09-15 | Converted paper and paperboard products........| 154.1 | 151.0 | 150.4 | 10-1 | Iron and steel.................................| 126.3 | 126.3 | 126.6 | 10-2 | Nonferrous metals..............................| 141.8 | 131.8 | 131.6 | 10-25 | Nonferrous mill shapes.........................| 146.0 | 140.9 | 140.4 | 11-3 | Metalworking machinery and equipment...........| 143.1 | 143.5 | 143.5 | 11-4 | General purpose machinery and equipment........| 142.3 | 142.7 | 142.6 | 11-6 | Special industry machinery.....................| 153.0 | 153.6 | 153.7 | 11-7 | Electrical machinery and equipment.............| 123.2 | 123.4 | 123.2 | 11-9 | Miscellaneous machinery and equipment..........| 128.8 | 129.4 | 129.5 | 12-6 | Other household durable goods..................| 148.3 | 148.6 | 148.3 | 13-2 | Concrete ingredients...........................| 139.2 | 139.6 | 139.5 | 14-1 | Motor vehicles and equipment...................| 134.1 | 133.0 | 131.0 | 15-1 | Toys, sporting goods, small arms, etc..........| 130.4 | 130.7 | 130.8 | 15-4 | Photographic equipment and supplies............| 120.3 | 118.2 | 119.8 | 15-9 | Other miscellaneous products...................| 132.5 | 132.9 | 132.6 | __________________________________________________________|___________|___________|___________| 1/ Data for May 1996 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. 1 1Table #4 Producer price indexes for the net output of major industry groups, not seasonally adjusted ____________________________________________________________________________________________________________________ | | | Index | Percent change Industry | Industry 1/ |Index|_______________________|to_Sep._1996_from:__ code | |base | | | | | | | |May |Aug. |Sep. | Sep. | Aug. | | |1996 2/|1996 2/|1996 2/| 1995 | 1996 __________________|______________________________________________|_____|_______|_______|_______|________|___________ | | | |Total mining industries...................... |12/84| 82.9 80.4 80.6 17.3 0.2 10 | Metal mining................................ |12/84| 97.1 87.7 87.0 -12.4 -.8 12 | Coal mining................................. |12/85| 93.1 90.8 93.0 1.4 2.4 13 | Oil and gas extraction...................... |12/85| 81.8 80.1 80.1 26.1 0 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 127.6 126.3 126.1 1.3 -.2 | | | |Total manufacturing industries............... |12/84| 127.4 127.4 127.5 2.6 .1 20 | Food and kindred products................... |12/84| 126.3 129.7 129.9 6.1 .2 21 | Tobacco manufactures........................ |12/84| 201.1 201.4 201.0 3.1 -.2 22 | Textile mill products....................... |12/84| 118.3 118.7 118.7 1.3 0 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 122.2 121.9 122.8 1.6 .7 24 | Lumber and wood products, except furniture.. |12/84| 153.8 154.8 156.8 1.1 1.3 25 | Furniture and fixtures...................... |12/84| 135.7 136.2 136.2 1.8 0 26 | Paper and allied products................... |12/84| 138.2 135.8 135.3 -10.5 -.4 27 | Printing, publishing, and allied industries. |12/84| 165.3 165.3 165.7 3.2 .2 28 | Chemicals and allied products............... |12/84| 146.0 146.2 147.0 1.6 .5 29 | Petroleum refining and related products..... |12/84| 92.8 87.4 89.7 15.6 2.6 30 | Rubber and miscellaneous plastic products... |12/84| 123.0 123.3 123.6 -.5 .2 31 | Leather and leather products................ |12/84| 134.5 134.2 134.7 .4 .4 32 | Stone, clay, glass, and concrete products... |12/84| 125.5 126.2 126.5 1.4 .2 33 | Primary metal industries.................... |12/84| 124.6 122.9 122.9 -4.1 0 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 126.0 126.2 126.3 .6 .1 35 | Machinery, except electrical................ |12/84| 119.3 119.0 119.0 -.1 0 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 113.1 113.3 113.1 -.1 -.2 37 | Transportation equipment.................... |12/84| 134.1 133.6 132.1 2.2 -1.1 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 125.1 125.2 125.3 .8 .1 39 | Miscellaneous manufacturing industries...... |12/85| 127.6 127.9 128.0 1.4 .1 | | | |Services industries | | 42 | Motor freight transportation and warehousing |06/93| 106.0 106.2 106.3 1.5 .1 43 | United states postal service................ |06/89| 132.3 132.3 132.3 0 0 44 | Water transportation........................ |12/92| 103.0 102.9 103.2 -1.2 .3 45 | Transportation by air....................... |12/92| 120.8 121.9 122.0 4.2 .1 46 | Pipe lines, except natural gas.............. |12/86| 103.7 104.0 104.0 -6.1 0 80 | Health services............................. |12/94| 104.3 104.6 104.5 1.9 -.1 | | | __________________|______________________________________________|_____|____________________________________________ 01/ Indexes in this table are derived from the net-output-weighted industry price indexes shown in table 5. 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 shown in table 6. 2/ The indexes for May 1996 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. 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.