Producer prices for finished goods rise 0.5 percent in May 2013
June 17, 2013
The Producer Price Index for finished goods rose 0.5 percent in May, seasonally adjusted. Prices for finished goods fell 0.7 percent in April and 0.6 percent in March. At the earlier stages of processing, prices received by manufacturers of intermediate goods declined 0.1 percent in May, and the crude goods index advanced 2.2 percent.
|Month||Finished goods||Intermediate goods||Crude goods|
In May, over sixty percent of the broad-based rise in finished goods prices is attributable to the index for finished energy goods, which advanced 1.3 percent. A 1.5-percent rise in the index for gasoline accounted for forty percent of the increase. The index for finished consumer foods climbed 0.6 percent in May after falling 0.8 percent in the prior month. Accounting for over sixty percent of the increase, prices for eggs for fresh use surged 41.6 percent. Prices for finished goods less foods and energy moved up 0.1 percent—the seventh consecutive increase. Nearly two-thirds of the May advance can be traced to prices for light motor trucks, which rose 0.4 percent.
From April to May, the decrease in the index for intermediate goods is attributable to prices for intermediate materials less foods and energy, which fell 0.4 percent—the largest decrease since falling 0.4 percent in July 2012. Two-thirds of this decline can be traced to prices for industrial chemicals, which dropped 2.3 percent. Prices for intermediate energy goods rose 0.5 percent in May after two consecutive declines. Seventy percent of the advance is attributable to a 4.1-percent jump in the index for utility natural gas. The index for intermediate foods and feeds moved up 1.1 percent in May—the largest rise since a 2.5-percent advance in August 2012. Leading the May increase, prices for soybean cake and meal surged 19.9 percent.
In May, the over-the-month increase in the index for crude goods was led by the index for crude energy materials, which rose 5.0 percent. Nearly sixty percent of the monthly broad-based advance in prices for crude energy goods is attributable to the crude petroleum index, which rose 5.5 percent. The index for crude foodstuffs and feedstuffs increased 2.1 percent in May. Accounting for half of the monthly advance in May, grain prices jumped 5.7 percent. The index for crude nonfood materials less energy fell 2.3 percent in May. Over sixty percent of the monthly decrease in May is attributable to the index for carbon steel scrap, which fell 6.3 percent.
These data are from the BLS Producer Price Index program. To learn more, see "Producer Price Indexes — May 2013" (HTML) (PDF), news release USDL-13-1143. 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.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Producer prices for finished goods rise 0.5 percent in May 2013 on the Internet at http://www.bls.gov/opub/ted/2013/ted_20130617.htm (visited October 31, 2014).
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