FOR DATA ONLY: (202) 606-7828 USDL 99-163 FOR TECHNICAL INFORMATION: TRANSMISSION OF MATERIAL IN (202) 606-7705 THIS RELEASE IS EMBARGOED MEDIA CONTACT: (202) 606-5902 UNTIL 8:30 A.M. (E.D.T), FRIDAY, http://stats.bls.gov/ppihome.htm JUNE 11, 1999 Producer Price Indexes -- May 1999 The Producer Price Index for Finished Goods increased 0.2 percent in May, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This rise followed a 0.5-percent advance in April and a 0.2-percent increase in March. The index for finished goods other than foods and energy edged up 0.1 percent, the same as a month earlier. Prices received by producers of intermediate goods advanced 0.2 percent, after increasing 0.6 percent in the previous month. The crude goods index rose 5.5 percent, following a 1.3-percent rise in April. (See table A.) Table A. Monthly and annual percent changes in selected stage-of- processing price indexes, seasonally adjusted Finish ed goods Change in Except finished Inter- goods foods from 12 mediateCrude and months Month Total Foods Energy energy ago goods goods (unadj.) 1998 May -0.1 -0.5 0.4 0.1 -0.8 -0.1 -0.6 June -.2 -.1 -.8 -.1 -.7 -.3 -2.7 July .2 .5 -.1 .2 -.2 0 .1 Aug. -.3 -.3 -1.9 0 -.8 -.3 -4.2 Sept. .2 .2 -.4 .3 -.9 -.3 -1.8 Oct. .3 .4 .8 .1 -.7 -.2 2.5 Nov. -.2 -.4 -1.3 .1 -.6 -.2 -.1 Dec. .5 0 -1.8 1.0 0 -.7 -3.6 1999 Jan. r .3 1.5 r .8 r -.2 r .8 r 0 r .6 Feb. r -.3 -1.4 r -.4 r .1 .5 r -.2 r -2.5 Mar. .2 .4 1.2 0 .8 .3 1.0 Apr. .5 -.9 5.1 .1 1.1 .6 1.3 May .2 .5 0 .1 1.4 .2 5.5 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for January 1999 have been revised to reflect the availability of late reports and corrections by respondents. -2- The slower rate of increase in the index for finished goods can be traced primarily to prices for finished energy goods, which showed no change in May after increasing 5.1 percent in April. By contrast, prices for finished consumer foods turned up, following a decline in the prior month. As in April, the index for finished consumer goods other than foods and energy showed no change in May. Capital equipment prices moved up 0.2 percent, after showing no change a month ago. Before seasonal adjustment, the Producer Price Index for Finished Goods increased 0.5 percent in May to stand at 132.4 (1982=100). From May 1998 through May 1999, the Finished Goods Price Index advanced 1.4 percent. During this same period, prices for finished goods other than foods and energy increased 1.7 percent, the index for finished energy goods rose 1.3 percent, and prices for finished consumer foods increased 0.6 percent. Prices received by producers of intermediate goods declined 1.1 percent for the 12 months ended in May, and the index for crude goods fell 4.4 percent during the same period. Finished goods Prices for finished energy goods showed no change in May, after advancing 5.1 percent in April. The gasoline index fell 2.7 percent, following a record 29.1-percent rise in the previous month. Price increases for home heating oil slowed from 14.3 percent in April to 2.5 percent in May. The index for residential electric power fell more than in April. Conversely, liquefied petroleum gas prices rose 19.6 percent, after showing no change in the prior month. Prices for residential natural gas turned up, after falling a month earlier. 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 intermedi Change in ate Exclud goods Excludicrude goods ing from ng from foods 12 months Energy foods 12 months and ago and ago Month Foods Energy energy (unadj.) Foods (unadj energy (unadj.) .) 1998 May 0.3 0.2 -0.1 -1.5 -1.5 0.0 0.1 -9.0 June -.6 -1.1 -.1 -1.8 .4 -8.0 -.4 -8.9 July .4 0 -.1 -1.6 -3.4 6.0 -1.5 -8.4 Aug. -.4 -1.5 -.1 -2.1 -1.1 -9.0 -2.8 -12.3 Sept. -.9 -.5 -.3 -2.5 -.9 -3.6 -1.2 -15.1 Oct. -.4 1.0 -.3 -2.5 3.2 5.5 -3.0 -16.6 Nov. .8 -1.1 -.2 -2.9 -.6 2.0 -2.2 -18.4 Dec. -.6 -3.5 -.2 -3.3 -4.3 -4.0 -1.7 -16.7 1999 Jan. r .6 r .8 r -.2 r -2.7 r 4.9 r -5.0 r .2 r -11.4 Feb. r -1.8 r -.4 r -.1 -2.7 r -2.4 r -5.2 r 1.0 -12.2 Mar. -1.6 2.2 .1 -2.0 -1.3 6.1 -.8 -10.0 Apr. -1.8 4.5 .2 -1.4 -2.5 8.5 -1.1 -9.9 May .5 .4 .2 -1.1 2.2 11.9 2.3 -4.4 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for January 1999 have been revised to reflect the availability of late reports and corrections by respondents. -3- The finished consumer foods index increased 0.5 percent in May, after declining 0.9 percent in the prior month. Prices for dairy products rose 1.3 percent, following a 7.1-percent decline a month ago. The indexes for pork, processed young chickens, unprocessed finfish, Irish potatoes for consumer use, and eggs for fresh use also turned up, after decreasing a month earlier. On the other hand, prices for fresh vegetables, except potatoes, fell 22.9 percent, following a 23.0-percent gain in April. Beef and veal prices also fell, after increasing last month. The indexes for soft drinks and for shortening and cooking oils rose less than in the prior month. The index for finished consumer goods other than foods and energy showed no change for the second consecutive month. Price advances for passenger cars, light motor trucks, apparel, periodical circulation, and for photographic equipment and supplies were offset by declining prices for prescription drugs, plastic products, textile housefurnishings, and for sanitary papers and health products. The capital equipment index increased 0.2 percent in May, after showing no change in the previous month. Prices for light motor trucks rose more than a month ago. The heavy motor truck index advanced 0.7 percent, after showing no change in April. Prices for civilian aircraft, commercial furniture, and for telephone and telegraph equipment turned up in May, following a decrease in the prior month. Electronic computer prices fell less than last month. By contrast, the index for construction machinery and equipment rose 0.1 percent, after a 0.5-percent increase in April. Prices for agricultural irrigation systems and for optical instruments and lenses turned down, after increasing a month earlier. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components advanced 0.2 percent in May, seasonally adjusted, after registering a 0.6-percent gain in April. This deceleration was mainly due to a slowing rate of increase in prices for energy goods, which rose less than in the previous month. By contrast, the indexes for intermediate foods and feeds and durable manufacturing materials advanced, following declines a month earlier. Prices for nondurable manufacturing materials and for materials and components for construction rose at the same rate in May as in April. Excluding foods and energy, the index for intermediate materials increased 0.2 percent for the second consecutive month. (See table B.) The intermediate energy goods index advanced 0.4 percent in May, after posting a 4.5-percent gain in April. In May, rising prices for liquefied petroleum gas, residual fuels, industrial natural gas, commercial natural gas, and natural gas to electric utilities outweighed falling prices for gasoline, jet fuels, diesel fuel, finished lubricants, and industrial electric power. The index for intermediate foods and feeds increased 0.5 percent in May, following a 1.8-percent drop in April. Prices for fluid milk products rose 2.5 percent, after registering a 14.6-percent decline in the prior month. The indexes for pork, processed young chickens, flour, processed eggs, and granulated sugar also advanced, following declines a month earlier. Conversely, beef and veal prices fell 0.2 percent, after increasing 2.3 percent in April. Prices for prepared animal feeds and crude vegetable oils also fell, after rising a month ago. The index for liquid beverage bases used for soft drinks showed no change, following an increase last month. -4- Prices for durable manufacturing materials advanced 0.8 percent in May, after registering a 0.2-percent decline in April. The index for primary nonferrous metals, except precious, rose 6.3 percent, following a 0.3-percent gain a month earlier. Prices for softwood plywood, softwood lumber, aluminum mill shapes, nonferrous wire and cable, and cement increased, after decreasing in the prior month. The index for hot rolled bars, plates, and structural shapes fell less than in the previous month. Prices for copper and brass mill shapes rose more than a month ago. On the other hand, the index for hot rolled sheet and strip declined 1.7 percent, following a 0.4-percent gain in April. Thermoplastic resin prices rose less than a month earlier. The wood chips index fell, after rising last month. Prices for nondurable manufacturing materials increased 0.2 percent in May, the same rate of increase as in April. Index advances for primary basic organic chemicals, thermoplastic resins, paint materials, woodpulp, paperboard (excluding corrugated), and writing and printing papers outweighed index declines for basic inorganic chemicals, nitrogenates, finished circular knit fabrics, and synthetic rubber. The index for materials and components for construction advanced 0.1 percent in May, following a 0.1-percent gain in April. Rising prices for softwood plywood, softwood lumber, millwork, particleboard and fiberboard, and nonferrous wire and cable slightly outweighed falling prices for steel mill products, fabricated structural metal products, prepared asphalt and tar roofing and siding products, and ready mixed concrete. Crude goods The Producer Price Index for Crude Materials for Further Processing advanced 5.5 percent in May, seasonally adjusted, following a 1.3-percent increase in April. The May increase represents the largest monthly increase since a 6.1-percent rise in December 1996. Prices for crude foodstuffs and feedstuffs and basic industrial materials turned up, after falling in the previous month. The index for crude energy materials rose more than in April. (See table B.) Prices for crude foodstuffs and feedstuffs increased 2.2 percent in May, following a 2.5-percent drop in April. The index for milk eligible for fluid use turned up 0.1 percent, after registering a 12.2-percent decline a month ago. Prices for slaughter broilers and fryers, slaughter cows and bulls, and unprocessed finfish also rallied, following last month's declines. The indexes for slaughter hogs and alfalfa hay rose more than in the previous month. By contrast, prices for fresh vegetables, except potatoes, dropped 22.9 percent in May, following a 23.0-percent rate of increase in April. The indexes for oilseeds and citrus fruits also turned down, after rising in the prior month. The index for slaughter steers and heifers fell more than a month ago. The index for crude energy materials advanced 11.9 percent in May, after rising 8.5 percent in April. The May increase is the largest one- month rise since a 19.3-percent increase in December 1996. Prices for natural gas gained 17.2 percent, after increasing 1.7 percent in the prior month. The index for coal also rose faster than a month ago. Conversely, crude petroleum prices increased 11.3 percent, following a 27.3-percent advance in April. Prices for basic industrial materials turned up 2.3 percent in May, following a 1.1-percent decline in April. The carbon steel scrap index increased 8.4 percent, after rising 0.3 percent in the previous month. The index for aluminum base scrap also rose faster than in April. Prices for copper ores and raw cotton turned up, after falling in the prior month. Following a decrease in April, the index for gold ore showed no change. On the other hand, corrugated wastepaper prices fell 2.6 percent in May, following a 4.6-percent rise in April. The phosphates index also turned down, after rising in the month of April. The index for pulpwood decreased faster than the prior month. -5- Net output price indexes for mining, manufacturing, and other industries Mining. The Producer Price Index for the net output of total domestic mining industries advanced 9.3 percent in May, following a 5.3-percent increase in April. (Net output price indexes are not seasonally adjusted.) Price increases for the crude petroleum, natural gas, and natural gas liquids industry accelerated from 9.2 percent in April to 15.2 percent in May. The index for copper ores turned up, after falling in the prior month. By contrast, prices for the drilling oil and gas wells industry turned down 0.6 percent, after rising 0.4 percent in the previous month. The index for the mining of non-metallic minerals, except fuels, industry group showed no change, following a 0.3-percent rise in April. In May, the Producer Price Index for the net output of total domestic mining industries stood at 74.3 (December 1984=100), 0.1 percent above its year-ago level. Manufacturing. The Producer Price Index for the net output of total domestic manufacturing industries rose 0.2 percent in May, after increasing 1.0 percent in April. Most of this deceleration was due to the index for the petroleum refining industry group, which rose 2.5 percent after jumping 23.6 percent in the prior month. Among other manufacturing industries in May, prices for the chemicals and allied products, rubber and miscellaneous plastic products, and the fabricated metal products industry groups fell, after rising in the previous month. However, prices advanced 1.0 percent, following a 1.0-percent decline for the food and kindred products industry group. Prices for the measuring and controlling instruments, primary metal industries, and the furniture and fixtures industry groups also turned up, after falling in April. In May, the Producer Price Index for the net output of the total domestic manufacturing industries stood at 127.7 (December 1984=100), 1.0 percent higher than its year-ago level. Other. Among other industries in May, prices for real estate agents and managers turned down 0.3-percent, after gaining 1.3 percent a month earlier. The indexes for passenger car rental, scheduled air transportation, hotels and motels, air courier services, and engineering services also fell, after rising in the prior month. By contrast, prices advanced 3.6 percent for radio broadcasting, following a 1.5-percent rise a month ago. The indexes for life insurance carriers, truck rental and leasing, and skilled and intermediate care facilities rose, after falling in April. Prices for operators and lessors of nonresidential buildings and offices and clinics of doctors of medicine increased, after showing no change in the previous month. ***** Producer Price Index data for June 1999 will be released on Wednesday, July 14, 1999 at 8:30 a.m. (E.D.T.) ***** Information in this news release will be made available to sensory impaired individuals upon request. Voice phone: 202-606-7828; TDD phone: 202-606- 5897; TDD Message Referral phone: 1-800-326-2577. -6- Rebasing of Selected Producer Price Indexes Effective with the release of data for May 1999, the Bureau of Labor Statistics has rebased 37 PPI commodity-based and 36 PPI industry-based price indexes to December 1998=100. Most of these data can normally be found in table 5 and table 6 of the PPI Detailed Report. To be considered for rebasing, an index must have dropped below 30.0, with little chance of rising to previous levels, or the index must be part of an index aggregate where the majority of the shipment value was rebased. The indexes for high- technology goods such as computers and semiconductors were most affected by this rebasing. (See the tables below.) Rebasing is beneficial when indexes decline to such a low level that relatively sizable month-to-month price changes are not reflected in the index in a timely fashion. For example, the first-released index for April 1999 for portable computers stood at 9.1 (December 1992=100). This index level is so low that prices must change approximately 1.0 percent for the published index to indicate a change. Of course, a 1.0-percent movement in prices may accumulate over, say, two months, but the lack of precision at this low index level could place the entire price change in the second month. The general index base for the PPI program remains 1982=100. Only the indexes listed in the attached tables are affected by this change. For further information on this change, please contact the Section of Index Analysis at (202) 606-7705. -7- Table C. Commodity indexes selected for rebasing Commodity Commodity title Final code December 1998 index before rebasing 05810111 Petroleum coke 10.0 102108 Uranium-radium-vanadium ores NA 10210802 Uranium concentrated and precipitates NA 10220141 Cadmium metal, 99.90 pct. min. 10.1 115 Electronic computers and computer equipment 30.2 1151 Electronic computers 21.8 115101 Electronic computers 21.8 11510111 Large-scale general purpose computers 60.2 11510112 Mid-range general purpose computers 41.4 11510114 Personal computers and workstations 13.3 11510115 Portable computers 10.7 11510121 Other computers 85.5 1152 Computer storage devices 38.5 115201 Computer storage devices, except parts 35.4 11520101 Computer storage devices, except parts 35.4 115202 Parts and components NA 11520201 Parts and components NA 1153 Computer terminals and parts 88.7 115301 Computer terminals 90.0 11530101 Computer terminals 90.0 115302 Computer terminal parts and subassemblies NA 11530201 Computer terminal parts and subassemblies NA 1154 Computer peripheral equipment and parts 77.6 115401 Optical scanning devices 82.1 11540101 Optical scanning devices 82.1 115402 Computer printers 62.0 11540201 Computer printers 62.0 115403 Other input/output devices, inc. monitors 70.5 11540301 Other input/output devices, inc. monitors 70.5 115404 Other peripheral equipment 87.1 11540401 Other peripheral equipment 87.1 115405 Parts for computer peripheral equipment 101.4 11540501 Parts for computer peripheral equipment 101.4 117842 Digital MOS integrated circuits 18.5 11784221 MOS, memory 13.7 11784223 Other MOS, incl. logic, MCU and MPR 54.7 11784225 MOS, microprocessors 6.1 -8- Table D. Industry-based indexes selected for rebasing Product Product title Final code December 1998 index before rebasing 2037197 Citrus pulp and other nonedible citrus byproducts 17.2 2911D21 Petroleum coke, made in refineries 10.0 3571 Electronic computers 26.6 3571P Primary products 21.3 35711 General purpose digital computers 27.1 357111 Large-scale (64 MB or more in minimum main memory configuration) 49.0 357112 Mid-range (<64 MB min. main memory) excl. PCs and workstations 41.4 357114 Personal computers and workstations (excluding portable computers) 13.3 357115 Portable computers (with attached display) 10.7 35712 Other computers 85.5 357121 Other computers (array, database, image processors, & other analog, hybrid, or special purpose) NA 3571M Miscellaneous receipts 51.1 3571XY9 Contract work and other miscellaneous receipts NA 3571Z89 Resales NA 3571S Secondary products 61.9 3571SS Other secondary products 75.3 3572 Computer storage devices 42.2 3572P Primary products 39.2 35721 Computer storage devices, except parts 35.4 357211 Random access storage devices 24.4 3572111 Hard disk drives (rigid magnetic media) 18.1 35721115 With media size smaller than 3.5 inches NA 35721117 With media size of 3.5 inches and over but less than 5.25 inches 14.2 35721141 With media size of 5.25 inches and over NA 35721145 Disk subsystems and disk arrays (RAID) 45.3 3674 Semiconductors and related devices 69.3 3674P Primary products 55.2 36741 Integrated circuits 41.3 36741A Digital monolithic integrated circuits 23.6 36741A1 MOS memory devices 11.2 36741A101 DRAM (dynamic random access memory) 13.1 36741A109 Other MOS memory devices 73.0 36741A2 Other digital MOS integrated circuits 45.4 36741A201 Microprocessors 5.6 36741A209 All other digital MOS integrated circuits 98.8 36741A9 Other digital integrated circuits, including bipolar and nonsilicon 81.6 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| | May 1999 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | |Jan. |Apr. | May | May | Apr. |Feb. to|Mar. to |Apr. to | 1998 1/|1999 2/|1999 2/|1999 2/| 1998 | 1999 | Mar. | Apr. | May _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 131.4 131.8 132.4 1.4 0.5 0.2 0.5 0.2 Finished consumer goods........................| 74.783 129.7 130.4 131.1 1.7 .5 .3 .6 .2 Finished consumer foods......................| 23.285 135.6 133.2 134.4 .6 .9 .4 -.9 .5 Crude......................................| 1.701 134.2 127.8 126.1 3.6 -1.3 5.8 -2.5 -1.2 Processed..................................| 21.584 135.6 133.6 135.1 .4 1.1 0 -.7 .7 Finished consumer goods, excluding foods.....| 51.498 127.1 129.1 129.5 2.2 .3 .3 1.3 0 Nondurable goods less foods................| 35.202 122.9 125.9 126.5 3.0 .5 .5 1.8 -.2 Durable goods..............................| 16.296 133.3 132.9 132.9 .5 0 -.2 .1 .3 Capital equipment..............................| 25.217 137.8 137.7 137.8 .4 .1 0 0 .2 Manufacturing industries.....................| 6.607 138.3 138.5 138.5 .4 0 .1 0 .1 Nonmanufacturing industries..................| 18.610 137.6 137.3 137.4 .2 .1 0 0 .3 | Intermediate materials, supplies, and components.| 100.000 120.9 121.6 122.1 -1.1 .4 .3 .6 .2 Materials and components for manufacturing.....| 47.713 123.9 123.3 123.6 -2.5 .2 0 -.2 .2 Materials for food manufacturing.............| 3.633 124.3 117.8 119.1 -3.7 1.1 -1.0 -2.5 .7 Materials for nondurable manufacturing.......| 15.730 123.0 122.9 123.0 -3.8 .1 .2 .2 .2 Materials for durable manufacturing..........| 10.415 123.5 123.2 124.2 -3.9 .8 -.2 -.2 .8 Components for manufacturing.................| 17.935 125.8 125.7 125.6 -.3 -.1 0 .1 -.1 Materials and components for construction......| 14.004 146.9 147.9 148.3 1.0 .3 .3 .1 .1 Processed fuels and lubricants.................| 11.845 76.1 80.5 82.2 .6 2.1 2.2 4.4 .4 Manufacturing industries ....................| 4.580 81.8 83.9 86.1 -.5 2.6 1.6 2.3 .8 Nonmanufacturing industries..................| 7.265 72.7 78.4 79.8 1.3 1.8 2.7 5.8 -.1 Containers.....................................| 3.881 138.3 140.3 141.1 -.4 .6 .2 1.7 .6 Supplies.......................................| 22.557 134.1 133.9 133.7 -.8 -.1 -.1 .2 -.1 Manufacturing industries.....................| 5.131 140.2 140.5 140.4 -.1 -.1 .1 .1 -.1 Nonmanufacturing industries..................| 17.426 131.4 131.1 130.9 -1.0 -.2 -.2 .2 -.2 Feeds......................................| 1.242 92.8 88.1 88.0 -11.6 -.1 -3.5 .3 -.1 Other supplies.............................| 16.184 136.1 136.3 136.1 -.1 -.1 .1 .1 -.1 | Crude materials for further processing...........| 100.000 90.1 90.4 96.1 -4.4 6.3 1.0 1.3 5.5 Foodstuffs and feedstuffs......................| 45.019 101.2 95.8 99.7 -6.1 4.1 -1.3 -2.5 2.2 Nonfood materials..............................| 54.981 79.2 83.5 90.2 -2.9 8.0 3.1 4.5 8.3 Nonfood materials except fuel 3/.............| 29.160 75.3 83.3 87.5 -.9 5.0 5.6 7.0 5.3 Manufacturing 3/...........................| 27.653 68.1 75.6 79.6 -.7 5.3 6.0 7.3 5.4 Construction...............................| 1.507 189.5 194.0 194.0 -3.1 0 .5 -.6 .7 Crude fuel 4/................................| 25.821 78.3 77.1 86.7 -5.6 12.5 -.1 1.2 12.5 Manufacturing industries...................| 2.104 77.6 75.5 84.3 -6.2 11.7 -.5 1.6 11.7 Nonmanufacturing industries................| 23.717 79.8 78.7 88.5 -5.4 12.5 -.1 1.3 12.5 | Special groupings | | Finished goods, excluding foods..................|5/ 76.715 130.0 131.3 131.7 1.6 .3 .2 .8 .1 Intermediate materials less foods and feeds......|6/ 95.125 121.2 122.3 122.8 -.9 .4 .3 .7 .2 Intermediate foods and feeds.....................|6/ 4.875 114.6 108.7 109.5 -5.8 .7 -1.6 -1.8 .5 Crude materials less agricultural products 3/ 7/.|8/ 52.084 78.2 82.9 90.0 -2.5 8.6 3.3 5.3 8.6 | Finished energy goods............................|5/ 11.972 71.3 75.8 77.3 1.3 2.0 1.2 5.1 0 Finished goods less energy.......................|5/ 88.028 143.0 142.4 142.6 1.4 .1 .1 -.2 .2 Finished consumer goods less energy..............|5/ 62.811 145.1 144.2 144.5 1.8 .2 .1 -.3 .1 | Finished goods less foods and energy.............|5/ 64.743 145.9 145.9 145.8 1.7 -.1 0 .1 .1 Finished consumer goods less foods and energy....|5/ 39.526 151.2 151.3 151.1 2.6 -.1 .1 0 0 Consumer nondurable goods less foods and energy..|5/ 23.230 165.2 165.8 165.3 4.1 -.3 .1 .1 -.3 | Intermediate energy goods........................|6/ 11.941 75.9 80.2 81.9 .5 2.1 2.2 4.5 .4 Intermediate materials less energy...............|6/ 88.059 130.9 130.7 130.9 -1.5 .2 0 .1 .2 Intermediate materials less foods and energy.....|6/ 83.184 131.9 132.2 132.3 -1.2 .1 .1 .2 .2 | Crude energy materials 3/........................|8/ 33.303 61.0 66.5 74.4 2.3 11.9 6.1 8.5 11.9 Crude materials less energy......................|8/ 66.697 108.1 104.1 107.7 -7.6 3.5 -1.1 -2.1 2.2 Crude nonfood materials less energy 4/...........|8/ 21.678 128.8 128.9 131.4 -10.7 1.9 -.8 -1.1 2.3 _______________________________________________________________________________________________________________________________ 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 January 1999 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 4 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 | | | May 1999 from:| code | Grouping |_______________________|_______________|_______________________ | | | | | | | | | | |Jan. |Apr. | May | May | Apr. |Feb. to|Mar. to|Apr. to | |1999 1/|1999 1/|1999 1/| 1998 | 1999 | Mar. | Apr. | May ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|_______ | | |FINISHED GOODS.........................................| 131.4 131.8 132.4 1.4 0.5 0.2 0.5 0.2 | FINISHED CONSUMER GOODS...............................| 129.7 130.4 131.1 1.7 .5 .3 .6 .2 | FINISHED CONSUMER FOODS..............................| 135.6 133.2 134.4 .6 .9 .4 -.9 .5 | | 01-11 | Fresh fruits and melons 2/..........................| 105.3 101.4 113.6 23.1 12.0 -5.5 .9 12.0 01-13 | Fresh and dry vegetables 2/.........................| 124.4 132.5 111.5 -16.9 -15.8 20.2 15.8 -15.8 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 94.0 74.8 66.8 -6.2 -10.7 4.0 -10.0 .9 02-11 | Bakery products 2/..................................| 177.1 177.6 178.0 1.3 .2 -.4 .2 .2 02-13 | Milled rice 2/......................................| 129.3 125.6 122.9 .4 -2.1 -1.3 -.9 -2.1 02-14-02 | Pasta products (June 1985=100) 2/...................| 122.5 122.4 121.9 -.7 -.4 -.5 -.1 -.4 02-21-01 | Beef and veal.......................................| 99.1 102.2 104.3 .8 2.1 2.4 2.3 -.2 02-21-04 | Pork................................................| 90.9 86.0 100.2 -3.8 16.5 1.0 -3.1 8.3 02-22-03 | Processed young chickens............................| 117.6 110.4 113.2 -5.4 2.5 -.7 -2.8 2.5 02-22-06 | Processed turkeys...................................| 88.0 89.0 89.3 2.3 .3 1.3 .2 .9 02-23 | Finfish and shellfish...............................| 186.2 184.9 187.3 .5 1.3 9.4 -7.1 2.0 02-3 | Dairy products......................................| 148.9 132.1 132.9 1.2 .6 -1.4 -7.1 1.3 02-4 | Processed fruits and vegetables 2/..................| 128.0 128.1 127.6 1.5 -.4 .2 .5 -.4 02-55 | Confectionery end products 2/.......................| 169.7 169.4 170.8 1.4 .8 -.4 0 .8 02-62 | Soft drinks.........................................| 135.5 137.6 137.3 2.0 -.2 .6 .4 .1 02-63-01 | Roasted coffee 2/...................................| 136.1 136.7 135.7 -7.9 -.7 -.1 -.1 -.7 02-78 | Shortening and cooking oils 2/......................| 147.4 138.2 138.3 -4.7 .1 -1.5 .4 .1 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 127.1 129.1 129.5 2.2 .3 .3 1.3 0 | | 02-61 | Alcoholic beverages.................................| 136.8 137.2 137.3 1.8 .1 .1 0 .1 03-81-01 | Women's apparel 2/..................................| 123.7 122.5 123.4 1.2 .7 -.2 .3 .7 03-81-02 | Men's and boys' apparel.............................| 133.6 132.8 133.3 .2 .4 -.3 -.1 .4 03-81-03 | Girls', children's, and infants' apparel 2/.........| 121.2 117.6 117.6 -3.7 0 -2.3 -.8 0 03-82 | Textile housefurnishings 2/.........................| 123.1 123.5 122.8 -.4 -.6 .5 -.2 -.6 04-3 | Footwear............................................| 143.8 144.6 144.4 -.1 -.1 -.2 -.6 0 05-41 | Residential electric power (Dec. 1990=100)..........| 107.4 107.1 108.1 -1.5 .9 .2 -.1 -.5 05-51 | Residential gas (Dec. 1990=100).....................| 116.4 109.8 110.8 -3.0 .9 -1.8 -1.7 .5 05-71 | Gasoline............................................| 46.4 64.1 65.6 12.5 2.3 3.6 29.1 -2.7 05-73-02-01| Fuel oil No. 2......................................| 42.6 50.3 52.2 3.2 3.8 13.1 14.3 2.5 06-35 | Pharmaceutical preps, ethical (Prescription) 2/.....| 329.7 341.9 332.8 1.7 -2.7 .1 .2 -2.7 06-36 | Pharmaceutical preps,proprietary (Over-counter) 2/..| 184.8 186.8 186.7 1.0 -.1 .4 .4 -.1 06-71 | Soaps and synthetic detergents 2/...................| 125.5 125.6 125.3 -.6 -.2 .1 .1 -.2 06-75 | Cosmetics and other toilet preparations 2/..........| 133.6 133.8 133.9 .3 .1 .5 -.2 .1 07-12 | Tires, tubes, tread, etc 2/.........................| 93.4 93.7 93.4 -.4 -.3 -.2 1.5 -.3 09-15-01 | Sanitary papers and health products 2/..............| 144.4 143.6 143.1 -1.0 -.3 1.3 -2.1 -.3 09-31-01 | Newspaper circulation 2/............................| 207.4 207.4 207.4 2.3 0 1.6 -.1 0 09-32-01 | Periodical circulation..............................| 195.9 195.9 197.5 2.2 .8 -.3 .2 .9 09-33 | Book publishing 2/..................................| 211.8 211.9 212.0 4.1 0 -.2 .3 0 12-1 | Household furniture 2/..............................| 149.8 150.2 150.3 1.4 .1 .1 .1 .1 12-3 | Floor coverings 2/..................................| 126.7 127.1 126.9 -1.1 -.2 .6 -.7 -.2 12-4 | Household appliances ...............................| 108.8 108.6 108.5 -.5 -.1 -1.1 .2 -.3 12-5 | Home electronic equipment 2/........................| 74.4 74.1 74.0 -3.6 -.1 -.1 -.1 -.1 12-62 | Household glassware 2/..............................| 162.8 164.3 164.2 .7 -.1 .1 .9 -.1 12-64 | Household flatware 2/...............................| 140.0 140.0 140.0 -.8 0 0 0 0 12-66 | Lawn and garden equip., ex. tractors 2/.............| 132.3 131.9 132.2 .5 .2 .1 -.3 .2 14-11-01 | Passenger cars......................................| 132.0 130.7 130.4 0 -.2 -.5 .2 .7 15-11 | Toys, games, and children's vehicles................| 124.0 124.0 123.8 -.6 -.2 .2 -.2 -.2 15-12 | Sporting and athletic goods 2/......................| 126.2 126.0 126.3 .2 .2 -.1 -.3 .2 15-2 | Tobacco products 2/.................................| 363.4 363.4 363.6 30.6 .1 .1 0 .1 15-5 | Mobile homes 2/.....................................| 156.3 157.6 158.2 2.8 .4 .1 .6 .4 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 127.8 127.8 127.6 -.6 -.2 0 .1 -.2 15-94-04 | Costume jewelry and novelties 2/....................| 139.9 140.1 139.8 .2 -.2 -.1 .1 -.2 | | | CAPITAL EQUIPMENT.....................................| 137.8 137.7 137.8 .4 .1 0 0 .2 | | 11-1 | Agricultural machinery and equipment 2/.............| 151.2 150.9 150.8 .7 -.1 .1 .5 -.1 11-2 | Construction machinery and equipment................| 146.2 147.4 147.5 1.6 .1 .3 .5 .1 11-37 | Metal cutting machine tools 2/......................| 160.2 160.4 160.5 .2 .1 .1 -.1 .1 11-38 | Metal forming machine tools 2/......................| 159.2 159.6 159.8 1.5 .1 .1 .1 .1 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 139.0 139.4 139.4 .4 0 .1 .1 0 11-41 | Pumps, compressors, and equipment...................| 150.4 151.6 151.7 1.9 .1 .1 .2 .1 11-44 | Industrial material handling equipment 2/...........| 132.2 132.6 132.6 1.0 0 .2 0 0 11-51 | Electronic computers (Dec. 1998=100) 2/.............| 95.8 90.4 88.4 -23.6 -2.2 -.6 -3.8 -2.2 11-62 | Textile machinery 2/................................| 153.5 154.3 154.2 .7 -.1 .2 0 -.1 11-64 | Paper industries machinery (June 1982=100)..........| 161.7 162.4 162.5 1.6 .1 .2 .4 .2 11-65 | Printing trades machinery 2/........................| 140.5 140.8 141.1 .7 .2 0 -.1 .2 11-74 | Transformers and power regulators 2/................| 130.8 130.5 130.7 -.2 .2 -.6 0 .2 11-76 | Communication & related equip. (Dec. 1985=100) 2/...| 114.3 114.1 114.1 0 0 .1 -.1 0 11-79-05 | X-ray and electromedical equipment 2/...............| 106.2 105.8 106.0 -.8 .2 .2 -.3 .2 11-91 | Oil field and gas field machinery ..................| 126.4 126.6 126.6 .8 0 .1 .1 .2 11-92 | Mining machinery and equipment 2/...................| 143.1 143.9 144.2 1.4 .2 .3 .2 .2 11-93 | Office and store machines and equipment 2/..........| 111.9 112.3 112.3 -.1 0 0 .3 0 12-2 | Commercial furniture 2/.............................| 155.8 156.0 156.5 .6 .3 .1 -.2 .3 14-11-05 | Light motor trucks..................................| 158.2 158.4 158.0 2.8 -.3 -.2 .3 .8 14-11-06 | Heavy motor trucks 2/...............................| 145.4 146.1 147.1 3.9 .7 .2 0 .7 14-14 | Truck trailers 2/...................................| 135.3 135.9 135.9 .4 0 .1 .5 0 14-21-02 | Civilian aircraft (Dec. 1985=100)...................| 150.9 151.0 151.4 .8 .3 .2 -.1 .3 14-31 | Ships (Dec. 1985=100) 2/............................| 145.8 145.8 146.5 .5 .5 0 0 .5 14-4 | Railroad equipment..................................| 134.6 134.3 134.4 -.7 .1 -.1 -.4 .1 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 120.9 121.6 122.1 -1.1 .4 .3 .6 .2 | | | INTERMEDIATE FOODS AND FEEDS..........................| 114.6 108.7 109.5 -5.8 .7 -1.6 -1.8 .5 | | 02-12-03 | Flour 2/............................................| 107.4 103.0 104.7 -6.9 1.7 -1.5 -1.5 1.7 02-53 | Refined sugar 2/....................................| 118.9 122.6 123.6 3.7 .8 2.0 0 .8 02-54 | Confectionery materials.............................| 94.1 93.7 93.3 -.1 -.4 .2 0 -1.2 02-72 | Crude vegetable oils 2/.............................| 117.4 98.0 94.9 -34.0 -3.2 -15.1 3.0 -3.2 02-9 | Prepared animal feeds 2/............................| 101.5 97.4 97.3 -9.3 -.1 -2.8 .3 -.1 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 121.2 122.3 122.8 -.9 .4 .3 .7 .2 | | 03-1 | Synthetic fibers 2/.................................| 105.5 104.4 104.5 -5.8 .1 -.5 -.1 .1 03-2 | Processed yarns and threads 2/......................| 110.4 108.7 108.4 -4.2 -.3 .6 0 -.3 03-3 | Gray fabrics 2/.....................................| 117.8 115.9 115.4 -6.2 -.4 .8 -1.5 -.4 03-4 | Finished fabrics....................................| 122.3 122.7 122.4 -1.8 -.2 0 0 -.4 03-83-03 | Industrial textile products 2/......................| 128.5 128.9 128.9 -1.2 0 -.2 0 0 04-2 | Leather.............................................| 176.1 176.6 175.6 -1.0 -.6 .4 2.1 -.8 05-32 | Liquefied petroleum gas 2/..........................| 47.2 53.1 63.5 .2 19.6 7.3 0 19.6 ___________________________________________________________________________________________________________________________________ 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 | | | May 1999 from:| code | Grouping |_______________________|_______________|_______________________ | | | | | | | | | | |Jan. |Apr. | May | May | Apr. |Feb. to|Mar. to|Apr. to | |1999 1/|1999 1/|1999 1/| 1998 | 1999 | Mar. | Apr. | May ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|_______ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 124.9 124.2 126.4 -1.3 1.8 0.4 -1.5 -0.1 05-43 | Industrial electric power...........................| 126.1 125.2 127.4 -1.4 1.8 -.1 -.7 -.3 05-52 | Commercial natural gas (Dec. 1990=100)..............| 109.7 102.9 102.2 -3.4 -.7 -1.6 -.1 2.3 05-53 | Industrial natural gas (Dec. 1990=100)..............| 103.9 95.0 97.1 -6.0 2.2 -.2 -2.2 4.4 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 79.0 71.1 77.0 -1.4 8.3 -6.9 4.3 8.9 05-72-03 | Jet fuels...........................................| 37.5 48.9 48.3 .8 -1.2 9.9 28.4 -3.3 05-73-03 | No. 2 Diesel fuel...................................| 40.2 53.1 53.0 6.0 -.2 16.4 18.8 -2.3 05-74 | Residual fuel 2/....................................| 36.0 40.4 46.9 -.4 16.1 23.8 15.8 16.1 06-1 | Industrial chemicals 2/.............................| 118.3 116.8 116.5 -4.4 -.3 -.5 -.5 -.3 06-21 | Prepared paint......................................| 156.9 157.5 157.6 1.6 .1 -.3 .1 .3 06-22 | Paint materials 2/..................................| 143.6 144.3 147.1 2.4 1.9 .1 .8 1.9 06-31 | Medicinal and botanical chemicals ..................| 138.5 138.8 138.8 2.7 0 .2 .1 -.3 06-4 | Fats and oils, inedible 2/..........................| 108.9 81.7 78.8 -37.0 -3.5 -21.1 4.7 -3.5 06-51 | Mixed fertilizers...................................| 114.3 114.3 114.3 -1.1 0 0 -.3 .2 06-52-01 | Nitrogenates........................................| 95.2 98.4 95.4 -15.6 -3.0 .3 .6 -2.5 06-52-02 | Phosphates 2/.......................................| 114.7 114.9 113.7 1.3 -1.0 0 .5 -1.0 06-53 | Other agricultural chemicals........................| 146.4 145.6 140.5 -5.8 -3.5 .8 -.1 -3.6 06-6 | Plastic resins and materials 2/.....................| 115.9 119.2 120.2 -6.7 .8 1.8 1.7 .8 07-11-02 | Synthetic rubber 2/.................................| 114.1 115.4 113.7 -3.2 -1.5 .3 -.3 -1.5 07-21 | Plastic construction products ......................| 124.5 125.4 125.8 -1.3 .3 -.6 .5 .1 07-22 | Unsupported plastic film, sheet, & other shapes 2/..| 126.4 125.6 125.2 -2.8 -.3 .1 .5 -.3 07-26 | Plastic parts and components for manufacturing 2/...| 117.2 117.7 117.6 .3 -.1 -.2 .6 -.1 08-11 | Softwood lumber 2/..................................| 181.0 193.1 197.1 5.4 2.1 3.7 -.3 2.1 08-12 | Hardwood lumber ....................................| 175.8 176.4 176.7 -1.6 .2 .7 -.1 .3 08-2 | Millwork 2/.........................................| 171.5 173.2 173.8 1.5 .3 .2 .6 .3 08-3 | Plywood 2/..........................................| 161.6 169.5 178.2 17.7 5.1 2.2 -1.9 5.1 09-11 | Woodpulp 2/.........................................| 112.7 110.4 113.8 -5.8 3.1 -2.5 .2 3.1 09-13 | Paper...............................................| 141.4 139.8 140.1 -4.3 .2 -.6 .2 .2 09-14 | Paperboard..........................................| 142.2 149.4 149.1 -3.3 -.2 4.6 2.5 .6 09-15-03 | Paper boxes and containers 2/.......................| 151.3 154.3 155.8 -.3 1.0 .3 2.5 1.0 09-2 | Building paper and board 2/.........................| 131.5 138.2 141.7 7.3 2.5 3.9 .8 2.5 09-37 | Commercial printing (June 1982=100) 2/..............| 151.9 152.2 151.9 .1 -.2 .1 -.1 -.2 10-15 | Foundry and forge shop products.....................| 135.1 135.3 135.2 0 -.1 -.1 .3 -.1 10-17 | Steel mill products 2/..............................| 107.1 105.1 104.2 -9.5 -.9 -1.0 -.4 -.9 10-22 | Primary nonferrous metals 2/........................| 95.8 94.0 99.8 -8.8 6.2 -2.1 -.1 6.2 10-25-01 | Aluminum mill shapes 2/.............................| 135.9 133.7 135.5 -6.0 1.3 -.2 -.4 1.3 10-25-02 | Copper and brass mill shapes 2/.....................| 144.8 144.4 149.9 -3.9 3.8 -1.4 .8 3.8 10-26 | Nonferrous wire and cable 2/........................| 136.3 133.0 134.6 -4.7 1.2 -.5 -.7 1.2 10-3 | Metal containers 2/.................................| 107.1 107.0 106.1 -2.3 -.8 0 0 -.8 10-4 | Hardware............................................| 147.4 147.8 148.1 .8 .2 -.1 .4 .2 10-5 | Plumbing fixtures and brass fittings................| 175.3 176.1 176.2 .1 .1 .9 .1 0 10-6 | Heating equipment...................................| 153.9 153.6 153.6 .1 0 -.1 .3 0 10-7 | Fabricated structural metal products................| 142.7 142.9 142.8 .1 -.1 0 .1 -.2 10-88 | Fabricated ferrous wire products (June 1982=100) 2/.| 130.7 130.7 130.7 .4 0 .2 -.2 0 10-89 | Other misc. metal products 2/.......................| 125.7 125.5 125.4 -.7 -.1 -.3 .1 -.1 11-45 | Mechanical power transmission equipment.............| 159.8 160.8 160.9 2.2 .1 .3 .3 .2 11-48 | Air conditioning and refrigeration equipment........| 136.0 136.2 136.2 1.9 0 0 .1 .2 11-49-02 | Metal valves, ex.fluid power (Dec. 1982=100) 2/.....| 159.4 160.6 159.6 2.0 -.6 .3 .1 -.6 11-49-05 | Ball and roller bearings............................| 166.3 166.8 166.8 1.3 0 .1 .5 .2 11-71 | Wiring devices......................................| 152.5 151.5 151.9 -1.6 .3 -.5 .1 .3 11-73 | Motors, generators, motor generator sets............| 146.2 146.3 146.4 .5 .1 .1 -.2 .1 11-75 | Switchgear, switchboard, etc., equipment............| 150.5 150.4 150.0 1.4 -.3 -.2 .5 -.1 11-78 | Electronic components and accessories 2/............| 98.8 98.7 98.6 -1.5 -.1 0 -.2 -.1 11-94 | Internal combustion engines.........................| 142.6 142.7 142.8 1.7 .1 -.3 .1 .1 11-95 | Machine shop products 2/............................| 136.8 136.8 136.8 .4 0 0 0 0 13-11 | Flat glass 2/.......................................| 104.9 105.8 106.2 -1.1 .4 2.4 -1.0 .4 13-22 | Cement..............................................| 148.9 150.4 151.7 4.1 .9 .6 -1.3 .7 13-3 | Concrete products...................................| 142.2 143.6 143.7 2.7 .1 -.1 .4 -.1 13-6 | Asphalt felts and coatings 2/.......................| 99.0 99.5 98.6 -.9 -.9 -.3 1.2 -.9 13-7 | Gypsum products 2/..................................| 190.0 195.4 196.6 13.9 .6 2.0 .2 .6 13-8 | Glass containers 2/.................................| 125.9 126.2 126.0 .1 -.2 .1 .2 -.2 14-12 | Motor vehicle parts 2/..............................| 114.1 113.6 113.5 -1.1 -.1 .1 -.2 -.1 14-23 | Aircraft engines & engine parts (Dec. 1985=100).....| 139.0 139.3 137.8 .1 -1.1 -.2 .6 -1.3 14-25 | Aircraft parts & aux.equip.,nec (June 1985=100) 2/..| 144.4 142.7 142.5 .1 -.1 .3 -.9 -.1 15-42 | Photographic supplies 2/............................| 129.0 125.1 128.2 -.6 2.5 0 0 2.5 15-6 | Medical/surgical/personal aid devices...............| 144.2 144.7 144.6 1.1 -.1 .6 .2 .1 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 90.1 90.4 96.1 -4.4 6.3 1.0 1.3 5.5 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 101.2 95.8 99.7 -6.1 4.1 -1.3 -2.5 2.2 | | 01-21 | Wheat 2/............................................| 86.7 78.6 78.8 -14.6 .3 -4.1 -1.3 .3 01-22-02-05| Corn................................................| 83.7 83.2 85.5 -11.6 2.8 -7.2 -.9 .4 01-31 | Slaughter cattle 2/.................................| 91.5 96.4 95.5 -2.1 -.9 4.6 -1.0 -.9 01-32 | Slaughter hogs......................................| 44.6 48.1 63.8 -8.5 32.6 -6.4 6.6 13.2 01-41-02 | Slaughter broilers/fryers...........................| 140.2 122.7 144.2 1.8 17.5 -5.4 -3.7 10.0 01-42 | Slaughter turkeys...................................| 96.3 108.8 116.9 18.1 7.4 2.4 -.2 6.2 01-6 | Fluid milk..........................................| 127.8 96.2 95.6 -2.5 -.6 -5.4 -11.3 -.2 01-83-01-31| Soybeans 2/.........................................| 91.8 80.8 79.6 -27.8 -1.5 -6.5 2.9 -1.5 02-52-01-01| Cane sugar,raw 2/...................................| 118.7 119.6 118.3 .2 -1.1 -.3 1.0 -1.1 | | | CRUDE NONFOOD MATERIALS..............................| 79.2 83.5 90.2 -2.9 8.0 3.1 4.5 8.3 | | 01-51-01-01| Raw cotton..........................................| 94.4 95.5 94.9 -12.1 -.6 2.5 -3.7 2.5 01-92-01-01| Leaf tobacco 2/.....................................| 112.4 95.8 (3) (3) (3) 1.8 -16.4 (3) 04-11 | Cattle hides 2/.....................................| 143.3 133.6 137.8 -10.0 3.1 -7.1 .6 3.1 05-1 | Coal 2/.............................................| 88.2 92.7 94.6 .1 2.0 2.4 .3 2.0 05-31 | Natural gas 2/......................................| 74.7 71.0 83.2 -8.1 17.2 -1.7 1.7 17.2 05-61 | Crude petroleum 2/..................................| 30.2 42.4 47.2 23.2 11.3 27.1 27.3 11.3 08-5 | Logs, timber, etc...................................| 198.6 201.4 199.9 -6.3 -.7 .1 -.9 -.1 09-12 | Wastepaper 2/.......................................| 126.6 142.5 142.2 -6.3 -.2 2.2 -.1 -.2 10-11 | Iron ore 2/.........................................| 95.2 94.9 94.9 -.7 0 .3 -.3 0 10-12 | Iron and steel scrap 2/.............................| 124.4 124.5 134.9 -26.9 8.4 -4.4 .3 8.4 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 60.4 59.8 63.0 -9.2 5.4 -1.0 -1.8 5.4 10-23-01 | Copper base scrap 2/................................| 99.9 102.3 106.2 -14.2 3.8 9.2 3.4 3.8 10-23-02 | Aluminum base scrap.................................| 143.2 148.8 158.6 -7.6 6.6 -.8 2.8 7.8 13-21 | Construction sand, gravel, and crushed stone........| 155.3 156.7 157.1 2.8 .3 .5 .1 .3 ___________________________________________________________________________________________________________________________________ 1/ The indexes for January 1999 have been recalculated to incorporate 2/ Not seasonally adjusted. late reports and corrections by respondents. All indexes are 3/ Not available. subject to revision 4 months after original publication. Table 3. Producer price indexes for selected commodity groupings (1982=100 unless otherwise indicated) _______________________________________________________________________________________________ | | | | | Unadjusted index 1/ | Commodity| |___________________________________| code | Grouping | Jan. 1999 |April 1999 | May 1999 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 368.6 | 370.0 | 371.5 | | All commodities................................| 122.9 | 123.5 | 124.5 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 122.1 | 118.3 | 120.1 | 01 | Farm products................................| 102.2 | 96.9 | 99.6 | 02 | Processed foods and feeds....................| 131.9 | 128.9 | 130.2 | | | | | | | Industrial commodities.........................| 123.1 | 124.5 | 125.4 | 03 | Textile products and apparel.................| 121.8 | 121.0 | 121.1 | 04 | Hides, skins, leather, and related products..| 145.8 | 144.9 | 145.0 | 05 | Fuels and related products and power 2/......| 70.1 | 75.0 | 78.0 | 06 | Chemicals and allied products 2/.............| 142.3 | 143.0 | 142.3 | 07 | Rubber and plastic products..................| 122.0 | 122.4 | 122.1 | 08 | Lumber and wood products.....................| 177.2 | 181.6 | 183.2 | 09 | Pulp, paper, and allied products.............| 170.7 | 171.9 | 172.4 | 10 | Metals and metal products....................| 123.5 | 122.9 | 123.8 | 11 | Machinery and equipment......................| 124.7 | 124.6 | 124.6 | 12 | Furniture and household durables.............| 131.4 | 131.5 | 131.6 | 13 | Nonmetallic mineral products.................| 136.9 | 138.2 | 138.3 | 14 | Transportation equipment.....................| 142.0 | 141.5 | 141.4 | 15 | Miscellaneous products.......................| 166.0 | 165.2 | 165.9 | | | | | | | Industrial commodities less fuels and related | | | | | products and power...........................| 138.6 | 138.7 | 138.8 | | | | | | | | | | | | OTHER COMMODITY GROUPINGS | | | | | | | | | 01-1 | Fruits and melons, fresh and dry vegetables, | | | | | and tree nuts................................| 121.6 | 122.5 | 121.3 | 01-2 | Grains.........................................| 87.0 | 83.1 | 84.6 | 01-3 | Slaughter livestock............................| 79.3 | 83.8 | 87.9 | 01-4 | Slaughter poultry..............................| 129.5 | 118.7 | 136.6 | 01-5 | Plant and animal fibers........................| 93.5 | 94.4 | 93.8 | 01-7 | Chicken eggs...................................| 109.7 | 85.3 | 77.1 | 01-8 | Hay, hayseeds, and oilseeds....................| 112.0 | 105.0 | 107.9 | 01-83 | Oilseeds.......................................| 103.2 | 93.5 | 93.3 | 01-9 | Other farm products............................| 167.7 | 142.9 | 'N.A.' | 02-1 | Cereal and bakery products.....................| 157.9 | 157.2 | 158.0 | 02-2 | Meats, poultry, and fish.......................| 110.5 | 109.6 | 113.9 | 02-22 | Processed poultry..............................| 115.7 | 111.4 | 113.2 | 02-5 | Sugar and confectionery........................| 134.8 | 135.3 | 136.0 | 02-6 | Beverages and beverage materials...............| 137.6 | 138.8 | 138.6 | 02-63 | Packaged beverage materials....................| 133.9 | 134.5 | 133.6 | 02-7 | Fats and oils..................................| 137.7 | 123.0 | 121.6 | 03-81 | Apparel........................................| 127.3 | 126.3 | 126.8 | 04-4 | Other leather and related products.............| 144.9 | 145.1 | 144.6 | 05-3 | Gas fuels 2/...................................| 66.6 | 65.5 | 77.0 | 05-4 | Electric power.................................| 125.5 | 125.0 | 126.7 | 05-7 | Refined petroleum products.....................| 44.9 | 58.4 | 59.6 | 06-3 | Drugs and pharmaceuticals......................| 247.6 | 253.8 | 250.0 | 06-5 | Agricultural chemicals and products............| 125.4 | 125.9 | 122.9 | 06-7 | Other chemicals and allied products............| 134.8 | 134.7 | 134.5 | 07-1 | Rubber and rubber products.....................| 114.4 | 114.6 | 114.3 | 07-11 | Rubber, except natural rubber..................| 113.5 | 114.8 | 113.1 | 07-13 | Miscellaneous rubber products..................| 138.2 | 138.1 | 138.1 | 07-2 | Plastic products...............................| 128.7 | 129.3 | 129.0 | 08-1 | Lumber.........................................| 177.4 | 186.0 | 188.8 | 09-1 | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 142.7 | 144.2 | 144.7 | 09-15 | Converted paper and paperboard products........| 149.9 | 151.2 | 151.9 | 10-1 | Iron and steel.................................| 113.9 | 112.5 | 112.9 | 10-2 | Nonferrous metals..............................| 115.3 | 114.4 | 117.4 | 10-25 | Nonferrous mill shapes.........................| 130.5 | 128.8 | 131.1 | 11-3 | Metalworking machinery and equipment...........| 147.5 | 148.1 | 148.0 | 11-4 | General purpose machinery and equipment........| 148.8 | 149.4 | 149.3 | 11-6 | Special industry machinery.....................| 160.5 | 161.3 | 161.4 | 11-7 | Electrical machinery and equipment.............| 120.6 | 120.4 | 120.4 | 11-9 | Miscellaneous machinery and equipment..........| 132.9 | 133.1 | 133.1 | 12-6 | Other household durable goods..................| 152.1 | 152.0 | 152.7 | 13-2 | Concrete ingredients...........................| 150.4 | 151.8 | 152.5 | 14-1 | Motor vehicles and equipment...................| 132.0 | 131.5 | 131.3 | 15-1 | Toys, sporting goods, small arms, etc..........| 132.5 | 132.4 | 132.5 | 15-4 | Photographic equipment and supplies............| 113.7 | 110.1 | 113.6 | 15-9 | Other miscellaneous products...................| 135.0 | 134.9 | 135.2 | __________________________________________________________|___________|___________|___________| 1/ Data for January 1999 have been revised to reflect the availability of late reports and corrections by respondents. All data are subject to revision 4 months after original publication. 2/ Prices of some items in this grouping are lagged 1 month. Table 4. Producer price indexes for the net output of major industry groups, not seasonally adjusted __________________________________________________________________________________________________________________ | | | Index | Percent change Industry | Industry 1/ |Index|_______________________|to_May__1999_from: code | |base | | | | | | | |Jan. |Apr. |May | May | Apr. | | |1999 2/|1999 2/|1999 2/| 1998 | 1999 __________________|______________________________________________|_____|_______|_______|_______|________|_________ | | | |Total mining industries...................... |12/84| 64.1 68.0 74.3 0.1 9.3 10 | Metal mining................................ |12/84| 68.2 67.9 70.4 -6.8 3.7 12 | Coal mining................................. |12/85| 85.5 89.2 90.0 -.2 .9 13 | Oil and gas extraction...................... |12/85| 60.3 64.7 72.9 .4 12.7 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 133.0 134.1 134.1 1.4 0 | | | |Total manufacturing industries............... |12/84| 126.2 127.4 127.7 1.0 .2 20 | Food and kindred products................... |12/84| 126.6 124.2 125.4 -.4 1.0 21 | Tobacco manufactures........................ |12/84| 316.5 316.0 316.2 33.0 .1 22 | Textile mill products....................... |12/84| 117.1 116.3 116.4 -2.3 .1 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 125.0 125.1 125.2 .2 .1 24 | Lumber and wood products, except furniture.. |12/84| 156.7 160.1 161.6 2.7 .9 25 | Furniture and fixtures...................... |12/84| 140.5 140.7 141.0 .9 .2 26 | Paper and allied products................... |12/84| 133.0 134.0 134.7 -1.7 .5 27 | Printing, publishing, and allied industries. |12/84| 176.4 176.9 177.2 1.9 .2 28 | Chemicals and allied products............... |12/84| 147.5 148.5 147.7 -1.3 -.5 29 | Petroleum refining and related products..... |12/84| 58.6 73.3 75.1 7.0 2.5 30 | Rubber and miscellaneous plastic products... |12/84| 121.5 121.9 121.7 -.5 -.2 31 | Leather and leather products................ |12/84| 135.8 136.2 135.9 -.9 -.2 32 | Stone, clay, glass, and concrete products... |12/84| 130.7 132.1 132.1 2.4 0 33 | Primary metal industries.................... |12/84| 115.9 114.6 114.9 -5.9 .3 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 128.8 128.9 128.8 0 -.1 35 | Machinery, except electrical................ |12/84| 117.4 117.5 117.5 -.2 0 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 110.0 109.8 109.7 -.6 -.1 37 | Transportation equipment.................... |12/84| 134.5 134.2 134.2 .9 0 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 126.6 126.3 126.7 .4 .3 39 | Miscellaneous manufacturing industries...... |12/85| 130.2 130.2 130.4 .5 .2 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 101.0 100.8 101.0 -.7 .2 42 | Motor freight transportation and warehousing |06/93| 113.6 114.4 114.4 2.8 0 43 | United states postal service................ |06/89| 135.4 135.4 135.4 2.3 0 44 | Water transportation........................ |12/92| 106.0 106.1 105.7 .4 -.4 45 | Transportation by air....................... |12/92| 126.6 130.0 129.6 4.3 -.3 46 | Pipe lines, except natural gas.............. |12/86| 98.4 98.5 98.5 -.8 0 80 | Health services............................. |12/94| 109.2 109.3 109.4 1.8 .1 81 | Legal services.............................. |12/96| 107.4 108.1 108.5 2.3 .4 __________________________________________________________________________________________________________________ 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 January 1999 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. 3/ Not available. Table 5. Producer price indexes by stage of processing, seasonally adjusted (1982=100) ____________________________________________________________________________________________________________ | | Index 1/ |____________________________________________________ Grouping | | | | | | | Dec. | Jan. | Feb. | Mar. | Apr. | May | 1998 | 1999 | 1999 | 1999 | 1999 | 1999 _______________________________________________________|________|________|________|________|________|_______ Finished goods...................................| 131.3 131.7 131.3 131.6 132.2 132.4 Finished consumer goods........................| 129.7 130.2 129.7 130.1 130.9 131.1 Finished consumer foods......................| 134.5 136.5 134.6 135.2 134.0 134.7 Crude......................................| 129.3 138.9 125.7 133.0 129.7 128.2 Processed..................................| 134.8 136.3 135.3 135.3 134.3 135.2 Finished consumer goods, excluding foods.....| 127.5 127.4 127.4 127.8 129.4 129.4 Nondurable goods less foods................| 123.5 123.6 123.6 124.2 126.4 126.2 Durable goods..............................| 133.3 132.7 132.8 132.6 132.7 133.1 Capital equipment..............................| 137.7 137.6 137.6 137.6 137.6 137.9 Manufacturing industries.....................| 138.1 138.3 138.3 138.4 138.4 138.5 Nonmanufacturing industries..................| 137.5 137.2 137.2 137.2 137.2 137.6 | Intermediate materials, supplies, and components.| 121.1 121.1 120.8 121.2 121.9 122.1 Materials and components for manufacturing.....| 124.1 123.9 123.5 123.5 123.3 123.6 Materials for food manufacturing.............| 123.8 125.0 122.8 121.6 118.6 119.4 Materials for nondurable manufacturing.......| 123.2 122.9 122.4 122.7 122.9 123.1 Materials for durable manufacturing..........| 124.3 123.5 123.5 123.3 123.1 124.1 Components for manufacturing.................| 125.8 125.7 125.6 125.6 125.7 125.6 Materials and components for construction......| 146.7 147.0 147.3 147.7 147.9 148.1 Processed fuels and lubricants.................| 76.8 77.4 77.1 78.8 82.3 82.6 Manufacturing industries ....................| 82.8 83.0 82.3 83.6 85.5 86.2 Nonmanufacturing industries..................| 73.2 74.0 73.9 75.9 80.3 80.2 Containers.....................................| 138.5 138.1 137.7 138.0 140.3 141.2 Supplies.......................................| 134.4 134.0 133.8 133.6 133.9 133.7 Manufacturing industries.....................| 140.7 140.2 140.2 140.3 140.5 140.4 Nonmanufacturing industries..................| 131.6 131.3 131.0 130.8 131.1 130.9 Feeds......................................| 93.2 92.8 91.0 87.8 88.1 88.0 Other supplies.............................| 136.3 136.0 135.9 136.0 136.2 136.0 | Crude materials for further processing...........| 90.4 90.9 88.6 89.5 90.7 95.7 Foodstuffs and feedstuffs......................| 98.2 103.0 100.5 99.2 96.7 98.8 Nonfood materials..............................| 81.8 79.3 77.2 79.6 83.2 90.1 Nonfood materials except fuel 2/.............| 72.7 75.4 73.4 77.5 82.9 87.3 Manufacturing 2/...........................| 65.6 68.2 66.2 70.2 75.3 79.4 Construction...............................| 190.8 188.9 190.9 191.9 190.8 192.1 Crude fuel 3/................................| 87.7 78.3 76.3 76.2 77.1 86.7 Manufacturing industries...................| 84.2 77.6 74.7 74.3 75.5 84.3 Nonmanufacturing industries................| 89.6 79.8 77.8 77.7 78.7 88.5 | Special groupings | | Finished goods, excluding foods..................| 130.2 130.1 130.2 130.4 131.5 131.6 Intermediate materials less foods and feeds......| 121.5 121.4 121.3 121.7 122.6 122.8 Intermediate foods and feeds.....................| 114.4 115.1 113.0 111.2 109.2 109.7 Crude materials less agricultural products 2/....| 80.7 78.2 76.1 78.6 82.8 89.9 | Finished energy goods............................| 71.9 72.5 72.2 73.1 76.8 76.8 Finished goods less energy.......................| 142.8 143.1 142.7 142.8 142.5 142.8 Finished consumer goods less energy..............| 144.8 145.3 144.7 144.9 144.5 144.7 | Finished goods less foods and energy.............| 145.9 145.6 145.7 145.7 145.8 145.9 Finished consumer goods less foods and energy....| 151.4 150.9 151.1 151.2 151.2 151.2 Consumer nondurable goods less foods and energy..| 165.5 165.1 165.4 165.6 165.7 165.2 | Intermediate energy goods........................| 76.5 77.1 76.8 78.5 82.0 82.3 Intermediate materials less energy...............| 131.1 130.9 130.6 130.6 130.7 130.9 Intermediate materials less foods and energy.....| 132.2 131.9 131.8 131.9 132.1 132.3 | Crude energy materials 2/........................| 64.2 61.0 57.8 61.3 66.5 74.4 Crude materials less energy......................| 105.9 109.4 108.0 106.8 104.6 106.9 Crude nonfood materials less energy 3/...........| 128.9 129.1 130.4 129.3 127.9 130.9 _____________________________________________________________________________________________________________ 1/ All seasonally adjusted indexes are subject to change up to 5 years after original publication due to the recalculation of seasonal factors each January. The indexes for January 1999 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.