FOR DATA ONLY: (202) 691-5200 USDL 02-581 FOR TECHNICAL INFORMATION: TRANSMISSION OF MATERIAL IN (202) 691-7705 THIS RELEASE IS EMBARGOED MEDIA CONTACT: (202) 691-5902 UNTIL 8:30 A.M. (EDT), FRIDAY, http://www.bls.gov/ppi OCTOBER 11, 2002 Producer Price Indexes -- September 2002 The Producer Price Index for Finished Goods rose 0.1 percent in September, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This index showed no change in August, after falling 0.2 percent in July. At the earlier stages of processing, prices received by intermediate goods producers increased 0.5 percent, following a 0.4-percent rise in August. The crude goods index advanced 0.6 percent in September, compared with a 1.6-percent increase a month earlier. (See table A.) Table A. Monthly and annual percent changes in selected stage-of-processing price indexes, seasonally adjusted ______________________________________________________________________________________ | | | | | | | Finished goods | | | | | | | | | |---------------------------------------------------------| | | | | | | | | Change in | | | | | | | | Except |finished goods| Inter- | | | | | | |foods and|from 12 months| mediate | Crude | | Month | Total | Foods | Energy | energy | ago(unadj.) | goods | goods | |--------------------------------------------------------------------------------------| 2001 Sept. 0.4 0.1 1.5 0.1 1.6 0.1 -4.4 Oct. -1.3 -.1 -6.7 -.4 -.3 -1.3 -8.8 Nov. -.6 -.8 -3.9 .1 -1.2 -.7 4.9 Dec. -.4 -.1 -3.0 .2 -1.6 -.6 -7.2 2002 Jan. 0 .8 -.5 -.2 -2.7 -.2 4.6 Feb. .2 .8 0 .1 -2.6 -.2 -1.2 Mar. .9 .6 5.7 -.1 -1.6 1.0 5.0 Apr. -.1 -3.0 2.5 .1 -2.1 .8 4.2 May -.4 -.2 r -2.3 0 r -2.9 -.2 r .8 June r .2 .1 r .6 .2 -2.1 r .3 r -3.0 July -.2 -.1 .1 -.3 -1.1 .2 .6 Aug. 0 -.4 1.0 -.1 -1.6 .4 1.6 Sept. .1 -.6 .9 .1 -1.9 .5 .6 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for May 2002 have been revised to reflect the availability of late reports and corrections by respondents. -2- Among finished goods, the index for finished energy goods climbed 0.9 percent in September, following a 1.0-percent jump in August. Prices for finished goods other than foods and energy turned up 0.1 percent, after a decline of 0.1 percent. On the other hand, the index for finished consumer foods fell 0.6 percent in September, following a 0.4-percent decrease in the previous month. During the third quarter of 2002, the finished goods index declined at a 0.6-percent seasonally adjusted annual rate, after falling at a 1.4- percent rate during the second quarter of 2002. Excluding prices for foods and energy, the finished goods index fell at a 1.6-percent seasonally adjusted annual rate for the three months ended September 2002, following a 1.1-percent rate of advance in the second quarter of 2002. Among prices for raw and partially processed goods, the intermediate goods index increased at a 4.1-percent seasonally adjusted annual rate during the third quarter of 2002, after advancing at a 3.5-percent rate in the preceding quarter. The seasonally adjusted annual rate of increase for crude goods prices accelerated from 7.9 percent to 11.9 percent from the second to the third quarter of 2002. (See summary below.) Summary of December-to-December, 9-month, and 3-month seasonally adjusted annual rates for selected stages of process ________________________________________________________________________________________________ | | Percentage | | | | change 12 | Seasonally adjusted annual rate for: | | | months ended | | | Grouping | in December | | | |--------------------|-------------------------------------------| | | | | |9 months |3 months |3 months |3 months | | | 1999 | 2000 | 2001 |ended in |ended in |ended in |ended in | | | | | |Sept. 2002|Mar. 2002 |June 2002 |Sept. 2002| |------------------------------------------------------------------------------------------------| Finished goods 2.9 3.6 -1.6 0.8 4.4 -1.4 -0.6 Finished consumer foods .8 1.7 1.8 -2.6 9.1 -11.7 -4.2 Finished energy goods 18.1 16.6 -17.1 10.9 22.3 2.8 8.4 Finished goods less foods and energy .9 1.3 .9 -.4 -.5 1.1 -1.6 Finished consumer goods, excluding foods and energy 1.2 1.4 1.5 -.1 -1.0 2.3 -1.5 Capital equipment .3 1.2 0 -.9 -.3 -.3 -2.0 Intermediate materials, supplies, and components 3.7 4.1 -4.0 3.2 1.9 3.5 4.1 Intermediate foods and feeds -4.2 3.6 .3 3.8 .7 -2.8 14.1 Intermediate energy goods 19.6 19.0 -16.9 10.1 7.7 14.0 8.6 Intermediate materials less foods and energy 1.9 1.6 -1.6 1.9 .9 2.1 2.7 Materials for nondurable manufacturing 4.0 4.1 -5.5 5.8 .3 7.1 10.3 Materials for durable manufacturing 2.4 .2 -4.0 3.6 3.3 4.6 2.9 Materials and components for construction 2.2 .1 0 2.0 1.6 1.3 2.9 Crude materials for further processing 15.3 35.5 -32.5 18.7 38.5 7.9 11.9 Foodstuffs and feedstuffs -.1 7.4 -7.6 4.5 22.6 -24.9 24.1 Crude energy materials 36.9 85.6 -52.9 42.2 87.8 49.5 2.4 Crude nonfood materials less energy 14.0 -5.5 -9.9 14.6 8.5 30.7 6.0 NOTE: Late reports and corrections by respondents may cause some indexes to change 4 months after original publication. In addition, seasonally adjusted indexes may be revised for 5 years due to the recalculation of seasonal factors each January. -3- Before seasonal adjustment, the Producer Price Index for Finished Goods increased 0.1 percent to 138.9 (1982 = 100). From September 2001 to September 2002, prices for finished goods dropped 1.9 percent. During the same period, the index for finished consumer foods fell 3.1 percent and prices for finished goods other than foods and energy dropped 0.4 percent. The finished energy goods index declined 6.5 percent for the 12 months ended September 2002. Earlier in the pipeline, prices for intermediate goods fell 0.5 percent and the crude goods index increased 0.8 percent. Finished goods Prices for finished energy goods, which increased 1.0 percent in August, advanced 0.9 percent in September. Rising prices for liquefied petroleum gas, residential natural gas, home heating oil, and residential electric power were partly offset by declining prices for gasoline in September. The index for finished energy goods advanced at an 8.4-percent seasonally adjusted annual rate in the third quarter of 2002, compared with a 2.8-percent rate of increase during the previous quarter. Table B. Monthly and annual percent changes in selected price indexes for intermediate goods and crude goods, seasonally adjusted __________________________________________________________________________________ | | | | | | Intermediate goods | Crude goods | | | | | | |---------------------------------------------------------------------------| | | | | |Change in | | | | Change | | | | | | interme- | | | |in crude | | | | | | diate | | | | goods | | | | | |goods from| | | | from 12 | | | | | Except |12 months | | | Except | months | | | | |foods and| ago | | Energy |foods and| ago | |Month | Foods | Energy | energy | (unadj.) | Foods | (unadj.)| energy |(unadj.) | |----------------------------------------------------------------------------------| 2001 Sept. -0.8 1.1 -0.1 -0.8 0.8 -11.0 0.2 -14.6 Oct. -.4 -6.2 -.4 -2.4 -3.5 -17.9 -1.5 -25.1 Nov. -1.6 -3.2 -.2 -3.0 -4.9 19.9 -.3 -20.5 Dec. -1.1 -2.9 -.2 -4.0 -2.3 -15.0 -.5 -32.5 2002 Jan. -.2 -1.3 -.1 -4.7 4.3 7.8 0 -40.0 Feb. -.1 -1.2 0 -4.6 1.8 -7.1 1.5 -30.6 Mar. .4 4.5 .3 -3.5 -.9 16.9 .5 -21.6 Apr. -.7 4.3 .2 -2.7 -6.3 19.4 2.1 -18.6 May r -.9 r -1.9 .1 r -3.2 r 0 r .9 r 2.3 r -16.3 June r .9 r .9 .2 -2.7 r -.6 r -8.2 r 2.4 -11.8 July 1.5 -1.0 .2 -1.5 1.5 -.9 1.7 -6.2 Aug. .6 .6 .4 -.9 2.0 1.6 .4 -4.2 Sept. 1.2 2.5 .1 -.5 2.0 -.1 -.6 .8 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for May 2002 have been revised to reflect the availability of late reports and corrections by respondents. -4- The index for finished consumer goods other than foods and energy turned up 0.1 percent in September, after registering a 0.1-percent decline a month earlier. Prices for compact discs jumped 12.5 percent, following a 9.3-percent drop in August. The indexes for passenger cars and for soaps and synthetic detergents also turned up in September. Prices for alcoholic beverages advanced at a faster rate in September then they did in August, while prices for cosmetics and other toilet preparations posted no change in September, after falling in the prior month. Light motor truck prices fell at a slower pace in September than they did in the preceding month. By contrast, prices for pharmaceutical preparations advanced 0.1 percent in September, following a 0.4-percent gain in August. The indexes for women's apparel and periodical circulation also rose at a slower rate than they did in the previous month. Prices for sanitary papers and health products and for book publishing turned down in September. The indexes for men's and boys' apparel and household furniture showed no change in September, after advancing in the previous month. During the third quarter of 2002, the index for finished consumer goods other than foods and energy decreased at a 1.5-percent seasonally adjusted annual rate, after advancing at a 2.3- percent rate for the second quarter of 2002. The 0.6-percent decline in prices for finished consumer foods in September followed a 0.4-percent decrease in August. The index for finished consumer foods has fallen in 5 of the past 6 months. September prices for fresh fruits and melons turned down 0.7 percent, after rising 7.4 percent in August. The indexes for dairy products, pork, confectionery end products, and eggs for fresh use fell at a faster rate in September than they did a month earlier. On the other hand, beef and veal prices rose 1.0 percent in September, after dropping 3.0 percent in the prior month. Prices for processed fruits and vegetables, soft drinks, and finfish and shellfish also turned up in September. The index for processed young chickens moved down at a slower rate in September than it did in August. Prices for finished consumer foods fell at a 4.2-percent seasonally adjusted annual rate from June 2002 to September 2002, following an 11.7-percent annual rate of decrease from March 2002 to June 2002. Capital equipment prices, which declined 0.1 percent in August, remained unchanged in September. Rising prices for civilian aircraft, heavy motor trucks, passenger cars, agricultural machinery and equipment, and commercial furniture were offset by declining prices for communication and related equipment, light motor trucks, integrating and measuring instruments, electronic computers, and welding machines and equipment. From June 2002 to September 2002, capital equipment prices fell at a 2.0- percent seasonally adjusted annual rate, after a 0.3-percent annual rate of decline from March 2002 to June 2002. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components rose slightly more in September than it did in August, up 0.5 percent compared with 0.4 percent in August. Although the indexes for nondurable manufacturing materials, intermediate foods and feeds, durable manufacturing materials, and construction materials moved up in September, the majority of September's increase can be attributed to higher prices for intermediate energy goods. By contrast, prices for components for manufacturing declined in September. The index for intermediate materials other than foods and energy advanced 0.1 percent, following a 0.4-percent increase in August. (See table B.) -5- The intermediate energy goods index rose more in September than it did in August -- up 2.5 percent and 0.6 percent, respectively. Among energy goods, prices for industrial natural gas moved up 3.0 percent, subsequent to a 0.3-percent increase in August. Prices for liquefied petroleum gas, residual fuel, and natural gas to electric utilities also increased at a faster rate than they did a month earlier. The indexes for jet fuels and industrial electric power turned up in September, following decreases in the previous month. On the other hand, the gasoline index turned down 1.5 percent in September, compared with a 3.7-percent gain in August. Diesel fuel prices advanced less than they did in the prior month. The intermediate energy goods index rose at an 8.6-percent seasonally adjusted annual rate during the third quarter of 2002, after a 14.0-percent rate of increase in the previous quarter. Prices for nondurable manufacturing materials advanced 0.8 percent in September, following a 1.0-percent increase in August. The plastic resins and materials index rose 1.1 percent, after moving up 3.1 percent in the prior month. Prices for primary basic organic chemicals also rose at a slower pace than they did in the previous month. The indexes for paperboard and fertilizer materials turned down, following increases in August. Medicinal and botanical chemical prices fell, after showing no change a month earlier. By contrast, the ethanol index turned up 1.5 percent in September, following a 2.3-percent decline in August. Prices for processed yarns and threads showed no change, after decreasing in the prior month. The index for gray fabrics fell less than it did in the prior month. Synthetic rubber prices moved up at a faster rate than they did in August. The index for nondurable manufacturing materials advanced at a 10.3-percent seasonally adjusted annual rate from June 2002 to September 2002, following a 7.1-percent rate of increase in the second quarter of 2002. Intermediate food and feed prices rose 1.2 percent in September, after moving up 0.6 percent in the prior month. Leading this acceleration, the beef and veal index advanced 1.0 percent, following a 3.0-percent decline in August. Prices for confectionery materials and refined sugar also turned up, after falling a month earlier. The indexes for prepared animal feeds and flour rose more than they did in the previous month. Partially offsetting the acceleration in the intermediate foods and feeds index, prices for natural, processed, and imitation cheese and for sausage and deli meats turned down, following increases in the prior month. Crude vegetable oil prices rose less than they did in the previous month, and the index for pork decreased at a faster pace than it did in August. Prices for intermediate foods and feeds advanced at a 14.1-percent seasonally adjusted annual rate during the third quarter of 2002, after declining at a 2.8-percent rate during the second quarter. The durable manufacturing materials index moved up 0.2 percent in September, following a 0.3-percent increase in the previous month. Within durable manufacturing materials in September, rising prices for steel mill products, prepared paint, copper and brass mill shapes, and refined gold outweighed falling prices for plywood, aluminum mill shapes, building paper and board, and for copper cathode and refined copper. The index for durable manufacturing materials increased at a 2.9-percent seasonally adjusted annual rate from June 2002 to September 2002, after rising at a 4.6-percent seasonally adjusted annual rate in the previous quarter. Prices for construction materials edged up 0.1 percent in September, following a 0.4-percent gain in the previous month. September's increasing prices for plastic construction products, plumbing fixtures and brass fittings, wiring devices, metal valves (except fluid power), hardwood lumber, and fabricated ferrous wire products offset price decreases for softwood lumber, asphalt felts and coatings, plywood, nonferrous wire and cable, millwork, and steel wire. The index for materials and components for construction rose at a 2.9-percent seasonally adjusted annual rate during the third quarter of 2002, following a 1.3-percent rate of increase during the second quarter. -6- The index for components for manufacturing decreased 0.2 percent in September, after showing no change in the prior month. Falling prices in September for motor vehicle parts, digital MOS integrated circuits, and complex electronic component assemblies outweighed rising prices for plastic transportation equipment parts and internal combustion engine parts and accessories. The index for components for manufacturing declined at a 1.6-percent seasonally adjusted annual rate from June to September 2002, after showing no change in the previous quarter. Crude goods The Producer Price Index for Crude Materials for Further Processing, which advanced 1.6 percent in August, rose 0.6 percent in September. Within crude goods, rising prices for crude foodstuffs and feedstuffs were partially counteracted by declining prices for crude nonfood materials less energy and crude energy materials. (See table B.) The September index for crude foodstuffs and feedstuffs posted a 2.0- percent gain, the same rate of increase as in August. Although the indexes for slaughter cattle, fluid milk, and raw cane sugar moved up in September, a 9.7-percent rise in corn prices and a 19.0-percent jump in wheat prices accounted for a majority of September's advance. On the other hand, prices for slaughter hogs, slaughter broilers and fryers, slaughter turkeys, fresh fruits and melons, and fresh and dry vegetables decreased in September. After declining at a 24.9-percent seasonally adjusted annual rate from March 2002 to June 2002, the index for crude foodstuffs and feedstuffs increased at a 24.1-percent seasonally adjusted annual rate during the three months ended in September 2002. Prices for basic industrial materials declined 0.6 percent in September, following a 0.4-percent advance in August. The wastepaper index decreased 8.1 percent, compared with a 0.8-percent rise in the prior month. Prices for softwood logs, bolts, and timber also turned down in September. Raw cotton prices fell more in September than they did a month earlier, while the phosphates index increased less than it did in August. Conversely, the indexes for nonferrous metal ores and pulpwood turned up, after decreasing in August. The indexes for aluminum base scrap and copper base scrap declined at a slower rate in September than they did in the previous month, while prices for iron and steel scrap rose more rapidly than they did a month earlier. The seasonally adjusted annual rate of increase in the index for crude nonfood materials less energy slowed to 6.0 percent in the third quarter of 2002 from a 30.7-percent rate of increase during the preceding three months. A 4.8-percent decrease in natural gas prices in September followed a 0.4-percent increase in August and triggered a downturn in the crude energy materials index -- which declined 0.1 percent in September after posting a 1.6-percent rise in August. By contrast, crude petroleum prices increased 5.8 percent in September, compared with a 4.3-percent advance in the preceding month. The coal index fell less than it did in the previous month. For the calendar quarter ended September 2002, the index for crude energy materials rose at a 2.4-percent seasonally adjusted annual rate, after surging at a 49.5-percent rate during the calendar quarter ended June 2002. -7- Net output price indexes for mining, manufacturing, and service industries Mining. The Producer Price Index for the Net Output of Total Domestic Mining Industries rose 1.6 percent in September, after climbing 1.1 percent in the previous month. (Net output price indexes are not seasonally adjusted.) With prices jumping 6.7 percent in September, the crude petroleum and natural gas industry was the most significant contributor to this acceleration. The industry index for gold ores also turned up in September. Prices for the oil and gas well drilling industry increased at a faster pace in September than they did in the prior month. Conversely, prices received by the natural gas liquids and natural gas residue industry fell 6.5 percent, following an 8.8-percent increase in the previous month. The industry indexes for bituminous coal and lignite surface mining and for potash, soda, and borate minerals also moved down, after advancing in August. For the three months ended September 2002, the index for the net output of total domestic mining industries moved up at a 2.1-percent annual rate, following a 36.6-percent annual rate of increase during the second quarter of this year. In September 2002, this index was 95.1 (December 1984 = 100), 4.7 percent above its year-ago level. Manufacturing. The Producer Price Index for the Net Output of Total Domestic Manufacturing Industries moved up 0.4 percent in September, after increasing 0.1 percent in the prior month. Prices for the petroleum refining and related products industry group rose 5.4 percent in September, following a 2.4-percent jump in the preceding month. The machinery (except electrical) industry group index remained unchanged in September, after falling in August. The industry group indexes for food and kindred products; printing, publishing, and allied industries; and textile mill products turned up in September. On the other hand, prices for the rubber and miscellaneous plastic products industry group turned down 0.1 percent in September, following a 0.6-percent gain in August. The industry group index for chemicals and allied products rose at a slower rate in September than it did a month earlier, while the industry group prices for lumber and wood products (except furniture) turned down in September. After increasing at a 2.4-percent annual rate from March 2002 to June 2002, the index for the net output of total domestic manufacturing industries advanced at a 1.8-percent annual rate from June 2002 to September 2002. In September 2002, the Producer Price Index for Total Manufacturing Industries was 134.2 (December 1984 = 100), 1.0 percent lower than a year ago. Services. Among service industries in September, advancing prices were registered by the industries for engineering design, analysis, and consulting services; help supply services; and psychiatric hospitals. On the other hand, falling prices were posted by the industries for passenger car rental, truck rental and leasing, and specialty hospitals other than psychiatric. ***** Producer Price Index data for October 2002 will be released on Friday, November 15, 2002 at 8:30 a.m. (EST) 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.2002 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | | May |Aug. |Sept. | Sept.| Aug. |June to|July to |Aug. to | 2001 1/|2002 2/|2002 2/|2002 2/| 2001 | 2002 | July | Aug. | Sept. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 138.6 138.7 138.9 -1.9 0.1 -0.2 0 0.1 Finished consumer goods........................| 72.948 139.1 139.5 139.8 -2.0 .2 -.1 0 .1 Finished consumer foods......................| 20.964 139.4 139.2 138.4 -3.1 -.6 -.1 -.4 -.6 Crude......................................| 1.560 124.4 124.9 118.5 -6.6 -5.1 .3 -.2 -6.9 Processed..................................| 19.404 140.6 140.3 140.1 -2.8 -.1 -.1 -.4 -.1 Finished consumer goods, excluding foods.....| 51.984 138.6 139.3 140.0 -1.7 .5 -.2 .2 .4 Nondurable goods less foods................| 35.355 139.5 141.3 142.5 -1.5 .8 0 .4 .5 Durable goods..............................| 16.628 133.0 131.3 131.1 -1.6 -.2 -.7 -.3 .1 Capital equipment..............................| 27.052 139.1 138.2 138.1 -1.0 -.1 -.4 -.1 0 Manufacturing industries.....................| 7.924 139.9 139.6 139.5 -.7 -.1 -.1 -.1 -.1 Nonmanufacturing industries..................| 19.128 138.6 137.6 137.5 -1.2 -.1 -.5 -.1 .1 | Intermediate materials, supplies, and components.| 100.000 127.1 128.5 129.4 -.5 .7 .2 .4 .5 Materials and components for manufacturing.....| 47.040 125.5 126.7 127.0 .2 .2 .2 .3 .2 Materials for food manufacturing.............| 2.902 121.2 123.1 123.9 -2.6 .6 .4 .1 .7 Materials for nondurable manufacturing.......| 14.124 128.1 130.7 131.7 1.6 .8 .7 1.0 .8 Materials for durable manufacturing..........| 9.152 124.1 125.6 125.8 1.1 .2 .2 .3 .2 Components for manufacturing.................| 20.862 126.2 126.2 125.9 -.3 -.2 -.2 0 -.2 Materials and components for construction......| 13.085 151.4 152.1 152.3 .9 .1 .2 .4 .1 Processed fuels and lubricants.................| 15.060 94.8 97.3 100.4 -7.0 3.2 -.6 .6 2.1 Manufacturing industries ....................| 6.106 97.3 98.9 101.4 -6.3 2.5 .1 .3 2.1 Nonmanufacturing industries..................| 8.954 93.3 96.4 99.7 -7.3 3.4 -1.2 1.0 1.9 Containers.....................................| 3.421 151.0 151.7 152.8 -.1 .7 .1 .2 .7 Supplies.......................................| 21.395 138.4 139.4 139.7 .7 .2 .3 .2 .1 Manufacturing industries.....................| 4.721 144.7 144.9 145.0 -.1 .1 0 .1 .1 Nonmanufacturing industries..................| 16.674 135.6 136.8 137.1 .9 .2 .4 .2 .2 Feeds......................................| 1.082 94.0 101.3 103.9 5.5 2.6 4.4 2.0 2.6 Other supplies.............................| 15.593 140.6 141.2 141.3 .6 .1 .1 .1 .1 | Crude materials for further processing...........| 100.000 109.9 108.3 108.5 .8 .2 .6 1.6 .6 Foodstuffs and feedstuffs......................| 46.173 98.2 99.6 100.7 -7.4 1.1 1.5 2.0 2.0 Nonfood materials..............................| 53.827 115.6 111.5 111.1 8.0 -.4 0 1.2 -.3 Nonfood materials except fuel 3/.............| 32.578 105.8 105.5 107.4 4.1 1.8 4.6 1.8 1.9 Manufacturing 3/...........................| 31.534 97.1 96.7 98.6 4.0 2.0 4.5 1.9 2.0 Construction...............................| 1.044 182.4 182.1 182.2 -.3 .1 .3 .4 .1 Crude fuel 4/................................| 21.249 120.1 110.0 105.8 12.2 -3.8 -6.4 .2 -3.8 Manufacturing industries...................| 1.958 116.1 106.5 102.6 11.0 -3.7 -6.2 .1 -3.7 Nonmanufacturing industries................| 19.291 122.7 112.2 107.9 12.2 -3.8 -6.3 .1 -3.8 | Special groupings | | Finished goods, excluding foods..................|5/ 79.036 138.2 138.4 138.8 -1.6 .3 -.3 .1 .2 Intermediate materials less foods and feeds......|6/ 96.017 127.9 129.2 130.0 -.5 .6 .1 .3 .5 Intermediate foods and feeds.....................|6/ 3.983 112.9 116.5 117.9 -.4 1.2 1.5 .6 1.2 Crude materials less agricultural products 3/ 7/.|8/ 51.690 117.4 112.5 112.2 8.1 -.3 -.2 1.0 -.2 | Finished energy goods............................|5/ 13.774 88.4 91.0 92.8 -6.5 2.0 .1 1.0 .9 Finished goods less energy.......................|5/ 86.226 147.1 146.5 146.2 -1.1 -.2 -.3 -.1 -.1 Finished consumer goods less energy..............|5/ 59.174 150.5 150.0 149.6 -1.2 -.3 -.3 -.1 -.2 | Finished goods less foods and energy.............|5/ 65.262 150.2 149.4 149.3 -.4 -.1 -.3 -.1 .1 Finished consumer goods less foods and energy....|5/ 38.210 157.7 157.0 156.9 0 -.1 -.4 -.1 .1 Consumer nondurable goods less foods and energy..|5/ 21.581 177.6 177.9 177.9 1.2 0 -.1 .1 .1 | Intermediate energy goods........................|6/ 15.182 94.6 96.7 100.1 -6.9 3.5 -1.0 .6 2.5 Intermediate materials less energy...............|6/ 84.818 134.0 135.2 135.4 .4 .1 .4 .3 .1 Intermediate materials less foods and energy.....|6/ 80.835 135.4 136.5 136.6 .6 .1 .2 .4 .1 | Crude energy materials 3/........................|8/ 32.341 108.3 100.1 100.0 8.9 -.1 -.9 1.6 -.1 Crude materials less energy......................|8/ 67.659 107.5 110.0 110.5 -2.7 .5 1.5 1.4 1.1 Crude nonfood materials less energy 4/...........|8/ 21.486 134.9 140.5 139.6 8.3 -.6 1.7 .4 -.6 | _______________________________________________________________________________________________________________________________ 1/ Comprehensive relative importance figures are initially computed 3/ Includes crude petroleum. after the publication of December indexes and are recalculated 4/ Excludes crude petroleum. after final December indexes are available. The first-published 5/ Percent of total finished goods. and final December relative importances initially appear, 6/ Percent of total intermediate materials. respectively, in the release tables containing January and May data. 7/ Formerly titled "Crude materials for 2/ The indexes for May 2002 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 | | |Sept.2002 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | | May |Aug. |Sept. | Sept. | Aug. |June to|July to|Aug. to | |2002 1/|2002 1/|2002 1/| 2001 | 2002 | July | Aug. | Sept. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 138.6 138.7 138.9 -1.9 0.1 -0.2 0 0.1 | FINISHED CONSUMER GOODS...............................| 139.1 139.5 139.8 -2.0 .2 -.1 0 .1 | FINISHED CONSUMER FOODS..............................| 139.4 139.2 138.4 -3.1 -.6 -.1 -.4 -.6 | | 01-11 | Fresh fruits and melons 2/..........................| 103.2 90.9 90.3 -6.5 -.7 -5.6 7.4 -.7 01-13 | Fresh and dry vegetables 2/.........................| 118.1 127.0 115.0 -8.1 -9.4 4.9 -8.2 -9.4 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 66.2 86.4 77.9 8.6 -9.8 -7.7 -1.0 -5.2 02-11 | Bakery products 2/..................................| 189.3 189.6 190.0 .8 .2 0 .1 .2 02-13 | Milled rice 2/......................................| 75.9 76.9 84.9 -2.7 10.4 -3.2 1.3 10.4 02-14-02 | Pasta products (June 1985=100) 2/...................| 121.4 121.4 121.5 -.6 .1 0 0 .1 02-21-01 | Beef and veal 2/....................................| 114.5 111.1 112.2 -4.7 1.0 -1.4 -3.0 1.0 02-21-04 | Pork................................................| 107.7 108.6 98.4 -21.7 -9.4 2.4 -3.5 -5.4 02-22-03 | Processed young chickens............................| 111.2 107.8 109.5 -12.1 1.6 -2.6 -3.2 -1.3 02-22-06 | Processed turkeys...................................| 94.9 96.1 95.7 -4.5 -.4 -.3 -.5 -3.3 02-23 | Finfish and shellfish...............................| 192.6 189.0 190.8 -1.0 1.0 4.1 -.9 .8 02-3 | Dairy products......................................| 136.5 134.5 133.9 -12.8 -.4 -1.7 -.8 -1.7 02-4 | Processed fruits and vegetables 2/..................| 132.5 131.3 133.0 2.2 1.3 .8 -.1 1.3 02-55 | Confectionery end products 2/.......................| 175.9 176.8 174.5 1.8 -1.3 .2 -.2 -1.3 02-62 | Soft drinks.........................................| 150.8 150.8 151.3 2.0 .3 -.5 -.1 .5 02-63-01 | Roasted coffee 2/...................................| 121.3 121.6 121.4 -1.9 -.2 .2 .1 -.2 02-78 | Shortening and cooking oils 2/......................| 135.8 143.7 146.5 7.6 1.9 1.3 2.3 1.9 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 138.6 139.3 140.0 -1.7 .5 -.2 .2 .4 | | 02-61 | Alcoholic beverages.................................| 146.7 146.6 146.7 1.0 .1 -.7 .1 .4 03-81-01 | Women's apparel 2/..................................| 122.4 120.9 121.0 -2.2 .1 .2 .2 .1 03-81-02 | Men's and boys' apparel 2/..........................| 129.1 128.7 128.7 -2.5 0 -1.2 .3 0 03-81-03 | Girls', children's, and infants' apparel 2/.........| 117.6 118.8 118.8 1.7 0 -1.7 -.4 0 03-82 | Textile housefurnishings 2/.........................| 122.2 121.8 122.1 -.3 .2 .1 -.2 .2 04-3 | Footwear 2/.........................................| 145.9 146.0 145.9 .1 -.1 .1 -.1 -.1 05-41 | Residential electric power (Dec. 1990=100)..........| 113.9 119.4 119.5 -1.2 .1 -.7 .3 .1 05-51 | Residential gas (Dec. 1990=100).....................| 128.5 128.9 130.4 -7.1 1.2 -.4 0 1.1 05-71 | Gasoline............................................| 86.1 88.0 89.7 -12.3 1.9 2.2 3.7 -1.5 05-73-02-01| Fuel oil No. 2......................................| 76.5 75.2 86.4 -9.1 14.9 6.0 -1.4 8.5 06-38 | Pharmaceutical preparations (June 2001=100) 2/......| 102.0 103.0 103.1 3.4 .1 .1 .4 .1 06-71 | Soaps and synthetic detergents 2/...................| 129.8 129.9 131.2 .2 1.0 .1 -.1 1.0 06-75 | Cosmetics and other toilet preparations 2/..........| 139.1 139.3 139.3 .7 0 -.6 -.3 0 07-12 | Tires, tubes, tread, etc 2/.........................| 95.5 95.4 95.3 1.4 -.1 -.2 .1 -.1 09-15-01 | Sanitary papers and health products 2/..............| 148.6 149.4 149.3 .5 -.1 -.5 .7 -.1 09-31-01 | Newspaper circulation 2/............................| 225.1 226.0 226.0 2.6 0 .4 -.1 0 09-32-01 | Periodical circulation..............................| 210.3 211.9 212.6 5.7 .3 .2 .8 .6 09-33 | Book publishing.....................................| 234.4 236.3 237.1 4.6 .3 .3 .2 -.1 12-1 | Household furniture.................................| 157.2 157.3 157.3 1.4 0 .3 .1 0 12-3 | Floor coverings 2/..................................| 128.9 130.9 131.5 2.7 .5 1.5 -.1 .5 12-4 | Household appliances ...............................| 104.3 104.3 104.2 -.5 -.1 -1.0 0 0 12-5 | Home electronic equipment 2/........................| 69.1 69.0 68.9 -1.6 -.1 -.1 -.1 -.1 12-62 | Household glassware.................................| 169.8 169.9 169.9 .2 0 -.1 .4 0 12-64 | Household flatware 2/...............................| 145.0 145.0 145.3 1.5 .2 0 0 .2 12-66 | Lawn and garden equip., ex. tractors 2/.............| 134.1 134.1 134.1 1.0 0 -.1 0 0 14-11-01 | Passenger cars......................................| 129.9 125.8 125.2 -3.8 -.5 -1.5 -.1 .2 15-11 | Toys, games, and children's vehicles 2/.............| 124.7 124.8 124.6 .6 -.2 0 0 -.2 15-12 | Sporting and athletic goods 2/......................| 126.2 124.8 125.2 -1.2 .3 -.7 -.3 .3 15-2 | Tobacco products 2/.................................| 466.2 466.9 466.8 4.3 0 .1 0 0 15-5 | Mobile homes 2/.....................................| 166.9 166.9 167.5 1.6 .4 -.2 0 .4 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 129.7 129.9 129.9 .3 0 .2 -.2 0 15-94-04 | Costume jewelry and novelties 2/....................| 144.3 144.3 144.3 .3 0 -.8 0 0 | | | CAPITAL EQUIPMENT.....................................| 139.1 138.2 138.1 -1.0 -.1 -.4 -.1 0 | | 11-1 | Agricultural machinery and equipment 2/.............| 158.3 157.4 157.9 .9 .3 .2 .1 .3 11-2 | Construction machinery and equipment................| 151.3 151.5 151.5 1.6 0 -.1 -.1 0 11-37 | Metal cutting machine tools 2/......................| 151.5 154.1 154.1 -.2 0 .2 1.6 0 11-38 | Metal forming machine tools 2/......................| 166.9 167.3 167.4 1.1 .1 -.1 .2 .1 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 140.3 140.8 140.8 -.4 0 .6 .1 0 11-41 | Pumps, compressors, and equipment...................| 160.7 161.4 161.9 2.1 .3 -.4 .4 .2 11-44 | Industrial material handling equipment 2/...........| 136.3 137.0 137.0 -.1 0 .1 .4 0 11-51 | Electronic computers (Dec. 1998=100) 2/.............| 44.7 40.9 40.7 -20.5 -.5 -3.8 -3.8 -.5 11-62 | Textile machinery 2/................................| 156.8 156.7 156.8 -.8 .1 0 0 .1 11-64 | Paper industries machinery (June 1982=100)..........| 168.4 169.2 169.2 1.0 0 -.1 .2 0 11-65 | Printing trades machinery 2/........................| 143.5 143.8 143.8 .6 0 .1 0 0 11-74 | Transformers and power regulators 2/................| 131.9 131.9 132.0 -1.6 .1 -.1 -.1 .1 11-76 | Communication & related equip. (Dec. 1985=100) 2/...| 107.9 107.3 107.1 -1.9 -.2 -1.0 -.2 -.2 11-79-05 | X-ray and electromedical equipment 2/...............| 101.2 101.4 101.3 .7 -.1 .2 0 -.1 11-91 | Oil field and gas field machinery ..................| 135.8 135.8 136.0 .9 .1 .2 .2 .2 11-92 | Mining machinery and equipment 2/...................| 151.5 151.9 152.1 2.0 .1 .3 0 .1 11-93 | Office and store machines and equipment 2/..........| 111.5 112.0 112.1 -1.3 .1 -1.9 -.1 .1 12-2 | Commercial furniture 2/.............................| 159.9 160.2 160.4 -.1 .1 -.1 0 .1 14-11-05 | Light motor trucks..................................| 150.4 145.1 143.6 -6.0 -1.0 -1.6 -1.3 -.2 14-11-06 | Heavy motor trucks 2/...............................| 151.2 152.9 153.7 4.1 .5 .9 -.2 .5 14-14 | Truck trailers 2/...................................| 137.8 138.5 137.8 -.8 -.5 0 .5 -.5 14-21-02 | Civilian aircraft (Dec. 1985=100)...................| 169.9 171.8 172.5 1.3 .4 .3 .5 .4 14-31 | Ships (Dec. 1985=100) 2/............................| 149.9 151.4 151.4 1.7 0 .3 .7 0 14-4 | Railroad equipment 2/...............................| 135.2 135.4 134.7 -.2 -.5 -.2 -.3 -.5 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 127.1 128.5 129.4 -.5 .7 .2 .4 .5 | | | INTERMEDIATE FOODS AND FEEDS..........................| 112.9 116.5 117.9 -.4 1.2 1.5 .6 1.2 | | 02-12-03 | Flour 2/............................................| 110.9 119.8 127.9 16.3 6.8 2.7 4.7 6.8 02-53 | Refined sugar 2/....................................| 116.7 117.3 118.8 7.5 1.3 -.6 -.1 1.3 02-54 | Confectionery materials 2/..........................| 113.4 118.7 124.0 17.1 4.5 4.8 -2.1 4.5 02-72 | Crude vegetable oils 2/.............................| 73.8 93.5 98.4 29.1 5.2 .2 10.7 5.2 02-9 | Prepared animal feeds 2/............................| 102.3 108.4 110.5 4.0 1.9 3.5 1.5 1.9 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 127.9 129.2 130.0 -.5 .6 .1 .3 .5 | | 03-1 | Synthetic fibers 2/.................................| 105.2 106.0 106.0 -1.5 0 0 .6 0 03-2 | Processed yarns and threads 2/......................| 102.6 102.4 102.4 -1.4 0 -.3 -1.5 0 03-3 | Gray fabrics 2/.....................................| 112.5 112.3 112.2 -1.6 -.1 -.2 -.4 -.1 03-4 | Finished fabrics....................................| 121.1 121.0 120.8 -1.5 -.2 -.2 .2 -.2 03-83-03 | Industrial textile products 2/......................| 133.2 135.1 134.6 1.4 -.4 -.1 .7 -.4 04-2 | Leather 2/..........................................| 198.7 206.8 205.8 2.2 -.5 -.3 2.6 -.5 05-32 | Liquefied petroleum gas 2/..........................| 100.3 103.6 122.7 19.9 18.4 -2.1 4.5 18.4 ____________________________________________________________________________________________________________________________________ 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.2002 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | | May |Aug. |Sept. | Sept. | Aug. |June to|July to|Aug. to | |2002 1/|2002 1/|2002 1/| 2001 | 2002 | July | Aug. | Sept. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 134.3 142.9 143.1 -3.3 0.1 -2.1 0 0.2 05-43 | Industrial electric power...........................| 137.9 144.8 145.7 -1.7 .6 1.6 -.4 .9 05-52 | Commercial natural gas (Dec. 1990=100)..............| 130.7 128.8 131.7 -5.6 2.3 -2.7 .8 1.9 05-53 | Industrial natural gas (Dec. 1990=100)..............| 132.9 128.5 132.5 -4.7 3.1 -2.3 .3 3.0 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 101.4 94.1 101.5 18.0 7.9 -11.0 4.8 8.6 05-72-03 | Jet fuels...........................................| 69.9 72.5 80.4 -2.3 10.9 4.1 -1.4 7.4 05-73-03 | No. 2 Diesel fuel...................................| 74.7 80.4 91.9 .3 14.3 5.4 3.0 .6 05-74 | Residual fuel 2/....................................| 75.6 75.2 85.1 12.6 13.2 -4.7 2.5 13.2 06-1 | Industrial chemicals 2/.............................| 125.9 130.7 131.0 3.1 .2 2.7 1.1 .2 06-21 | Prepared paint......................................| 166.6 167.0 168.9 2.4 1.1 -.5 .7 1.4 06-22 | Paint materials 2/..................................| 165.1 172.4 171.3 15.7 -.6 -.3 .1 -.6 06-31 | Medicinal and botanical chemicals 2/................| 132.1 133.6 132.4 -5.7 -.9 1.1 0 -.9 06-4 | Fats and oils, inedible.............................| 76.5 94.9 99.8 5.2 5.2 9.5 -1.9 -1.3 06-51 | Mixed fertilizers...................................| 113.9 114.0 114.2 -.6 .2 .5 .4 .5 06-52-01 | Nitrogenates........................................| 102.8 106.1 104.9 -11.6 -1.1 1.5 3.1 -.7 06-52-02 | Phosphates 2/.......................................| 98.9 100.0 100.7 7.8 .7 -1.0 2.0 .7 06-53 | Other agricultural chemicals 2/.....................| 148.7 148.7 148.7 .6 0 0 0 0 06-6 | Plastic resins and materials 2/.....................| 128.0 135.1 136.6 7.7 1.1 1.3 3.1 1.1 07-11-02 | Synthetic rubber 2/.................................| 117.5 120.0 121.6 -.7 1.3 1.0 .9 1.3 07-21 | Plastic construction products ......................| 136.7 141.0 145.0 10.9 2.8 .1 1.4 3.4 07-22 | Unsupported plastic film, sheet, & other shapes 2/..| 137.0 137.8 136.7 -.1 -.8 -2.8 1.6 -.8 07-26 | Plastic parts and components for manufacturing 2/...| 116.2 116.5 116.6 .2 .1 -.1 .1 .1 08-11 | Softwood lumber 2/..................................| 175.1 169.2 166.5 -4.0 -1.6 1.9 -1.1 -1.6 08-12 | Hardwood lumber ....................................| 177.4 178.4 178.9 0 .3 .7 .6 .1 08-2 | Millwork 2/.........................................| 179.7 180.4 180.2 -.2 -.1 -.1 .3 -.1 08-3 | Plywood 2/..........................................| 152.3 152.4 149.7 -7.1 -1.8 -2.0 1.2 -1.8 09-11 | Woodpulp 2/.........................................| 113.5 118.6 119.4 3.5 .7 .1 1.9 .7 09-13 | Paper 2/............................................| 143.7 144.1 144.7 -2.9 .4 .3 .5 .4 09-14 | Paperboard 2/.......................................| 161.1 168.2 167.9 -.7 -.2 1.6 3.1 -.2 09-15-03 | Paper boxes and containers 2/.......................| 171.6 171.9 173.3 -.9 .8 0 .1 .8 09-2 | Building paper and board 2/.........................| 128.7 132.4 131.4 1.5 -.8 3.0 1.2 -.8 09-37 | Commercial printing (June 1982=100) 2/..............| 157.4 156.4 157.1 -.3 .4 .4 -.4 .4 10-15 | Foundry and forge shop products.....................| 136.8 136.9 137.1 .1 .1 .2 .2 .2 10-17 | Steel mill products 2/..............................| 102.3 107.9 109.1 8.4 1.1 .9 1.8 1.1 10-22 | Primary nonferrous metals 2/........................| 102.2 98.8 97.9 -2.8 -.9 -1.4 -4.4 -.9 10-25-01 | Aluminum mill shapes 2/.............................| 142.1 142.7 142.4 -3.6 -.2 -.5 .4 -.2 10-25-02 | Copper and brass mill shapes 2/.....................| 153.0 150.8 152.2 .7 .9 -.2 -3.1 .9 10-26 | Nonferrous wire and cable 2/........................| 134.0 133.1 132.7 -4.5 -.3 .4 -1.0 -.3 10-3 | Metal containers 2/.................................| 107.0 107.2 107.7 1.1 .5 -.1 .1 .5 10-4 | Hardware 2/.........................................| 156.3 156.3 156.3 .4 0 .1 -.1 0 10-5 | Plumbing fixtures and brass fittings................| 181.7 182.5 182.6 1.3 .1 .1 .5 .3 10-6 | Heating equipment 2/................................| 157.8 158.2 157.9 .6 -.2 -.1 .3 -.2 10-7 | Fabricated structural metal products................| 144.7 145.8 145.9 1.0 .1 .8 .1 0 10-88 | Fabricated ferrous wire products (June 1982=100) 2/.| 129.8 130.3 130.4 .5 .1 -.3 .2 .1 10-89 | Other misc. metal products 2/.......................| 126.6 127.0 127.0 -.1 0 .1 0 0 11-45 | Mechanical power transmission equipment.............| 169.2 169.5 169.2 1.2 -.2 .1 .1 -.1 11-48 | Air conditioning and refrigeration equipment 2/.....| 136.6 137.6 137.6 1.0 0 .4 .1 0 11-49-02 | Metal valves, ex.fluid power (Dec. 1982=100) 2/.....| 167.0 167.4 167.7 1.8 .2 .4 -.1 .2 11-49-05 | Ball and roller bearings............................| 169.0 169.9 169.8 .3 -.1 .2 .1 -.1 11-71 | Wiring devices 2/...................................| 154.0 155.4 155.5 1.4 .1 .1 -.1 .1 11-73 | Motors, generators, motor generator sets............| 146.8 146.7 146.6 -.4 -.1 -.2 .1 0 11-75 | Switchgear, switchboard, etc., equipment............| 158.6 158.2 158.2 .3 0 -.2 .6 .1 11-78 | Electronic components and accessories 2/............| 92.5 92.9 92.5 -.1 -.4 -.1 0 -.4 11-94 | Internal combustion engines.........................| 144.2 144.0 145.2 .8 .8 -.3 .2 .8 11-95 | Machine shop products 2/............................| 140.0 139.8 139.8 -.4 0 .1 -.1 0 13-11 | Flat glass 2/.......................................| 110.7 111.9 111.6 -.7 -.3 .7 .4 -.3 13-22 | Cement..............................................| 153.7 152.6 152.6 1.3 0 -.1 1.5 .1 13-3 | Concrete products...................................| 152.7 152.4 152.8 0 .3 .1 .1 .1 13-6 | Asphalt felts and coatings..........................| 111.6 113.2 111.3 1.4 -1.7 -.2 1.2 -1.8 13-7 | Gypsum products 2/..................................| 172.2 170.1 169.8 10.1 -.2 -3.6 1.4 -.2 13-8 | Glass containers 2/.................................| 135.2 135.5 135.9 2.2 .3 -.2 .1 .3 14-12 | Motor vehicle parts 2/..............................| 113.2 112.6 111.8 -1.3 -.7 0 -.2 -.7 14-23 | Aircraft engines & engine parts (Dec. 1985=100).....| 145.9 145.8 145.8 .2 0 .3 -.3 .2 14-25 | Aircraft parts & aux.equip.,nec (June 1985=100).....| 151.1 150.1 150.1 -1.0 0 -.1 .3 .1 15-42 | Photographic supplies 2/............................| 119.1 119.1 119.1 -7.9 0 .1 0 0 15-6 | Medical/surgical/personal aid devices 2/............| 150.7 150.9 151.5 1.8 .4 -.2 .2 .4 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 109.9 108.3 108.5 .8 .2 .6 1.6 .6 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 98.2 99.6 100.7 -7.4 1.1 1.5 2.0 2.0 | | 01-21 | Wheat 2/............................................| 82.5 106.1 126.3 52.7 19.0 12.7 11.4 19.0 01-22-02-05| Corn................................................| 83.1 105.7 111.9 38.5 5.9 17.8 17.5 9.7 01-31 | Slaughter cattle 2/.................................| 101.3 95.2 96.5 -8.3 1.4 -2.6 1.2 1.4 01-32 | Slaughter hogs......................................| 58.8 54.5 44.5 -40.7 -18.3 17.6 -15.0 -8.9 01-41-02 | Slaughter broilers/fryers...........................| 127.3 125.8 128.9 -13.0 2.5 -7.9 -.9 -2.3 01-42 | Slaughter turkeys...................................| 103.0 110.5 108.2 -7.3 -2.1 1.2 -3.0 -6.0 01-6 | Fluid milk 2/.......................................| 91.2 84.4 86.6 -31.7 2.6 -6.0 .8 2.6 01-83-01-31| Soybeans 2/.........................................| 81.4 100.4 99.5 24.2 -.9 13.5 2.7 -.9 02-52-01-01| Cane sugar,raw 2/...................................| 103.9 110.3 115.4 4.4 4.6 4.1 .4 4.6 | | | CRUDE NONFOOD MATERIALS..............................| 115.6 111.5 111.1 8.0 -.4 0 1.2 -.3 | | 01-51-01-01| Raw cotton 2/.......................................| 51.1 66.0 63.7 13.3 -3.5 15.7 -.3 -3.5 01-92-01-01| Leaf tobacco 2/.....................................| (3) 107.9 106.1 -4.2 -1.7 (3) (3) -1.7 04-19 | Hides and skins (June 2001=100) 2/..................| 80.7 83.7 87.6 12.6 4.7 0 3.0 4.7 05-1 | Coal 2/.............................................| 101.6 98.4 98.0 1.8 -.4 -1.2 -.8 -.4 05-31 | Natural gas 2/......................................| 125.5 113.2 107.8 15.9 -4.8 -7.7 .4 -4.8 05-61 | Crude petroleum 2/..................................| 77.1 72.0 76.2 4.4 5.8 9.5 4.3 5.8 08-5 | Logs, timber, etc...................................| 181.0 179.7 180.1 -1.3 .2 .1 .7 .2 09-12 | Wastepaper 2/.......................................| 157.3 207.8 191.0 34.7 -8.1 10.4 .8 -8.1 10-11 | Iron ore 2/.........................................| 95.3 95.1 95.0 -1.3 -.1 -.4 .3 -.1 10-12 | Iron and steel scrap................................| 147.4 154.4 154.5 24.3 .1 2.0 .2 .7 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 67.9 68.9 69.7 7.9 1.2 1.5 -.9 1.2 10-23-01 | Copper base scrap 2/................................| 114.4 109.2 107.3 -.4 -1.7 -1.1 -3.6 -1.7 10-23-02 | Aluminum base scrap.................................| 163.3 156.5 155.0 5.5 -1.0 -1.5 -3.0 -1.3 13-21 | Construction sand, gravel, and crushed stone........| 173.2 173.3 173.6 2.3 .2 .2 .1 .3 ____________________________________________________________________________________________________________________________________ 1/ The indexes for May 2002 have been recalculated to incorporate 2/ Not seasonally adjusted. late reports and corrections by respondents. All indexes are subject 3/ Not available. to revision 4 months after original publication. Table 3. Producer price indexes for selected commodity groupings (1982=100 unless otherwise indicated) _______________________________________________________________________________________________ | | | | | Unadjusted index 1/ | Commodity| |___________________________________| code | Grouping | May 2002 | Aug. 2002 |Sept. 2002 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 389.0 | 389.4 | 389.9 | | All commodities................................| 130.8 | 131.5 | 132.0 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 122.5 | 123.9 | 124.0 | 01 | Farm products................................| 96.6 | 99.6 | 99.7 | 02 | Processed foods and feeds....................| 135.3 | 135.9 | 136.1 | | | | | | | Industrial commodities.........................| 132.3 | 132.8 | 133.4 | 03 | Textile products and apparel.................| 119.8 | 119.7 | 119.7 | 04 | Hides, skins, leather, and related products..| 156.5 | 159.6 | 160.5 | 05 | Fuels and related products and power.........| 93.4 | 94.1 | 96.4 | 06 | Chemicals and allied products 2/.............| 150.6 | 153.9 | 154.3 | 07 | Rubber and plastic products..................| 126.6 | 127.7 | 127.8 | 08 | Lumber and wood products.....................| 174.4 | 173.3 | 172.3 | 09 | Pulp, paper, and allied products.............| 184.9 | 186.7 | 187.1 | 10 | Metals and metal products....................| 125.6 | 126.9 | 127.1 | 11 | Machinery and equipment......................| 123.0 | 122.9 | 122.7 | 12 | Furniture and household durables.............| 133.1 | 133.4 | 133.5 | 13 | Nonmetallic mineral products.................| 146.4 | 146.6 | 146.6 | 14 | Transportation equipment.....................| 144.5 | 142.8 | 142.2 | 15 | Miscellaneous products.......................| 182.9 | 182.7 | 183.2 | | | | | | | Industrial commodities less fuels and related | | | | | products and power...........................| 142.7 | 143.2 | 143.2 | | | | | | | | | | | | OTHER COMMODITY GROUPINGS | | | | | | | | | 01-1 | Fruits and melons, fresh and dry vegetables, | | | | | and tree nuts................................| 114.5 | 111.5 | 106.1 | 01-2 | Grains.........................................| 82.8 | 104.6 | 114.1 | 01-3 | Slaughter livestock............................| 90.3 | 84.9 | 83.1 | 01-4 | Slaughter poultry..............................| 120.8 | 121.1 | 123.1 | 01-5 | Plant and animal fibers........................| 52.2 | 67.0 | 64.7 | 01-7 | Chicken eggs...................................| 77.2 | 100.8 | 89.0 | 01-8 | Hay, hayseeds, and oilseeds....................| 110.1 | 127.1 | 125.2 | 01-83 | Oilseeds.......................................| 91.5 | 112.6 | 110.2 | 01-9 | Other farm products............................| 'N.A.' | 160.9 | 158.2 | 02-1 | Cereal and bakery products.....................| 162.8 | 164.7 | 166.3 | 02-2 | Meats, poultry, and fish.......................| 119.1 | 117.5 | 116.1 | 02-22 | Processed poultry..............................| 112.1 | 109.7 | 111.0 | 02-5 | Sugar and confectionery........................| 140.9 | 142.9 | 143.4 | 02-6 | Beverages and beverage materials...............| 147.5 | 147.7 | 147.9 | 02-63 | Packaged beverage materials....................| 122.4 | 125.4 | 125.2 | 02-7 | Fats and oils..................................| 108.5 | 122.8 | 126.0 | 03-81 | Apparel........................................| 125.3 | 124.7 | 124.8 | 04-4 | Other leather and related products.............| 147.8 | 147.8 | 147.9 | 05-3 | Gas fuels......................................| 117.4 | 109.1 | 109.3 | 05-4 | Electric power.................................| 134.5 | 141.8 | 142.1 | 05-7 | Refined petroleum products.....................| 80.9 | 82.2 | 87.7 | 06-3 | Drugs and pharmaceuticals......................| 264.7 | 266.3 | 265.9 | 06-5 | Agricultural chemicals and products............| 123.0 | 124.0 | 123.9 | 06-7 | Other chemicals and allied products............| 139.2 | 139.5 | 139.9 | 07-1 | Rubber and rubber products.....................| 116.5 | 116.9 | 117.2 | 07-11 | Rubber, except natural rubber..................| 116.9 | 119.4 | 121.0 | 07-13 | Miscellaneous rubber products..................| 140.1 | 140.1 | 140.1 | 07-2 | Plastic products...............................| 134.5 | 135.9 | 136.0 | 08-1 | Lumber.........................................| 173.0 | 169.6 | 168.1 | 09-1 | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 153.4 | 156.7 | 156.7 | 09-15 | Converted paper and paperboard products........| 162.8 | 163.5 | 164.3 | 10-1 | Iron and steel.................................| 112.9 | 117.4 | 118.4 | 10-2 | Nonferrous metals..............................| 120.8 | 119.7 | 119.3 | 10-25 | Nonferrous mill shapes.........................| 136.5 | 136.5 | 136.4 | 11-3 | Metalworking machinery and equipment...........| 150.2 | 150.7 | 150.4 | 11-4 | General purpose machinery and equipment........| 153.9 | 154.5 | 154.7 | 11-6 | Special industry machinery.....................| 165.7 | 164.9 | 164.7 | 11-7 | Electrical machinery and equipment.............| 116.4 | 116.5 | 116.2 | 11-9 | Miscellaneous machinery and equipment..........| 136.3 | 136.2 | 136.6 | 12-6 | Other household durable goods..................| 158.2 | 158.6 | 158.7 | 13-2 | Concrete ingredients...........................| 163.1 | 162.7 | 163.0 | 14-1 | Motor vehicles and equipment...................| 130.0 | 127.5 | 126.7 | 15-1 | Toys, sporting goods, small arms, etc..........| 133.8 | 132.9 | 133.1 | 15-4 | Photographic equipment and supplies............| 105.5 | 105.5 | 105.5 | 15-9 | Other miscellaneous products...................| 138.8 | 138.6 | 140.0 | __________________________________________________________|___________|___________|___________| 1/ Data for May 2002 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_Sep._2002_from:__ code | |base | | | | | | | |May |Aug. |Sep. | Sep. | Aug. | | |2002 2/|2002 2/|2002 2/| 2001 | 2002 __________________|______________________________________________|_____|_______|_______|_______|________|___________ | | | |Total mining industries...................... |12/84| 100.3 93.6 95.1 4.7 1.6 10 | Metal mining................................ |12/84| 73.9 74.4 74.1 3.3 -.4 12 | Coal mining................................. |12/85| 94.4 93.8 93.6 1.6 -.2 13 | Oil and gas extraction...................... |12/85| 112.7 102.1 104.5 9.0 2.4 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 143.6 143.7 143.4 1.3 -.2 | | | |Total manufacturing industries............... |12/84| 133.5 133.7 134.2 -1.0 .4 20 | Food and kindred products................... |12/84| 130.9 131.3 131.4 -2.3 .1 21 | Tobacco manufactures........................ |12/84| 408.0 408.6 408.5 4.4 0 22 | Textile mill products....................... |12/84| 115.5 115.6 115.7 -.6 .1 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 125.1 125.4 125.4 -.4 0 24 | Lumber and wood products, except furniture.. |12/84| 156.0 155.7 155.1 -1.4 -.4 25 | Furniture and fixtures...................... |12/84| 145.9 146.2 146.3 .6 .1 26 | Paper and allied products................... |12/84| 142.5 143.9 144.6 -.6 .5 27 | Printing, publishing, and allied industries. |12/84| 192.6 193.0 193.6 2.4 .3 28 | Chemicals and allied products............... |12/84| 156.3 158.5 158.7 1.3 .1 29 | Petroleum refining and related products..... |12/84| 99.7 103.1 108.7 -5.4 5.4 30 | Rubber and miscellaneous plastic products... |12/84| 125.3 126.4 126.3 .6 -.1 31 | Leather and leather products................ |12/84| 140.6 141.7 141.6 .1 -.1 32 | Stone, clay, glass, and concrete products... |12/84| 137.1 137.3 137.4 .7 .1 33 | Primary metal industries.................... |12/84| 115.4 117.5 117.8 2.2 .3 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 131.4 132.0 132.2 .8 .2 35 | Machinery, except electrical................ |12/84| 117.6 116.8 116.8 -.9 0 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 105.9 105.7 105.5 -.9 -.2 37 | Transportation equipment.................... |12/84| 137.1 135.4 134.9 -1.7 -.4 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 128.2 128.4 128.5 .8 .1 39 | Miscellaneous manufacturing industries...... |12/85| 133.1 133.2 133.4 .5 .2 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 106.5 106.5 106.7 1.0 0.2 42 | Motor freight transportation and warehousing |06/93| 124.1 124.6 125.0 1.0 .3 43 | United States Postal Service................ |06/89| 145.4 155.0 155.0 6.6 0 44 | Water transportation........................ |12/92| 131.7 135.4 135.2 1.0 -.1 45 | Transportation by air....................... |12/92| 156.2 158.9 159.0 .3 .1 46 | Pipe lines, except natural gas.............. |12/86| 111.5 112.5 112.5 .7 0 48 | Communications.............................. |06/01| 97.7 97.7 97.9 -1.6 .2 54 | Food stores................................. |12/99| 110.5 112.8 115.6 2.6 2.5 55 | Automotive dealers and gasoline service | | | stations................................... |12/01| 99.1 98.2 90.9 (3) -7.4 59 | Miscellaneous retail........................ |06/00| 103.2 102.3 103.1 3.2 .8 80 | Health services............................. |12/94| 118.6 119.7 119.7 2.4 0 81 | Legal services.............................. |12/96| 121.0 122.1 122.0 3.0 -.1 ____________________________________________________________________________________________________________________ 1/ Indexes in this table are derived from the net-output-weighted industry price indexes. Because of differences in coverage and aggregation methodology, they will generally not match the movements of similarly-titled indexes which are derived from traditional commodity groupings. 2/ The indexes for May 2002 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 | | | | | | | Apr. | May | June | July | Aug. | Sep. | 2002 | 2002 | 2002 | 2002 | 2002 | 2002 _______________________________________________________|________|________|________|________|________|________ | Finished goods...................................| 139.1 138.5 138.8 138.5 138.5 138.6 Finished consumer goods........................| 139.6 138.8 139.2 139.0 139.0 139.1 Finished consumer foods......................| 139.5 139.2 139.4 139.3 138.8 137.9 Crude......................................| 116.3 124.4 126.5 126.9 126.7 117.9 Processed..................................| 141.4 140.4 140.4 140.3 139.7 139.5 Finished consumer goods, excluding foods.....| 139.3 138.3 138.8 138.5 138.8 139.3 Nondurable goods less foods................| 140.4 139.0 139.5 139.5 140.1 140.8 Durable goods..............................| 133.2 133.2 133.6 132.7 132.3 132.4 Capital equipment..............................| 139.2 139.1 139.4 138.9 138.7 138.7 Manufacturing industries.....................| 140.0 139.9 140.0 139.9 139.7 139.6 Nonmanufacturing industries..................| 138.9 138.8 139.1 138.4 138.2 138.3 | Intermediate materials, supplies, and components.| 127.5 127.2 127.6 127.8 128.3 128.9 Materials and components for manufacturing.....| 125.4 125.5 126.0 126.3 126.7 127.0 Materials for food manufacturing.............| 122.0 121.1 121.9 122.4 122.5 123.4 Materials for nondurable manufacturing.......| 127.8 128.0 128.6 129.5 130.8 131.8 Materials for durable manufacturing..........| 123.6 124.0 124.9 125.2 125.6 125.8 Components for manufacturing.................| 126.3 126.2 126.4 126.2 126.2 125.9 Materials and components for construction......| 150.9 151.2 151.2 151.5 152.1 152.3 Processed fuels and lubricants.................| 97.3 95.4 96.2 95.6 96.2 98.2 Manufacturing industries ....................| 98.7 97.9 98.0 98.1 98.4 100.5 Nonmanufacturing industries..................| 96.4 93.8 95.1 94.0 94.9 96.7 Containers.....................................| 151.2 151.0 151.2 151.4 151.7 152.8 Supplies.......................................| 138.5 138.4 138.7 139.1 139.4 139.6 Manufacturing industries.....................| 144.5 144.7 144.6 144.6 144.8 145.0 Nonmanufacturing industries..................| 135.8 135.6 136.0 136.5 136.8 137.1 Feeds......................................| 95.1 94.0 95.1 99.3 101.3 103.9 Other supplies.............................| 140.7 140.6 141.0 141.1 141.2 141.3 | Crude materials for further processing...........| 108.0 108.9 105.6 106.2 107.9 108.6 Foodstuffs and feedstuffs......................| 96.2 96.2 95.6 97.0 98.9 100.9 Nonfood materials..............................| 113.8 115.4 110.0 110.0 111.3 111.0 Nonfood materials except fuel 2/.............| 100.5 105.5 98.9 103.4 105.3 107.3 Manufacturing 2/...........................| 92.1 96.7 90.6 94.7 96.5 98.4 Construction...............................| 181.0 181.3 181.4 182.0 182.8 182.9 Crude fuel 3/................................| 124.4 120.1 117.3 109.8 110.0 105.8 Manufacturing industries...................| 120.0 116.1 113.4 106.4 106.5 102.6 Nonmanufacturing industries................| 127.0 122.7 119.7 112.1 112.2 107.9 | Special groupings | | Finished goods, excluding foods..................| 138.7 138.1 138.5 138.1 138.2 138.5 Intermediate materials less foods and feeds......| 128.3 128.0 128.4 128.5 128.9 129.5 Intermediate foods and feeds.....................| 113.7 112.7 113.7 115.4 116.1 117.5 Crude materials less agricultural products 2/....| 115.5 117.2 111.4 111.2 112.3 112.1 | Finished energy goods............................| 89.8 87.7 88.2 88.3 89.2 90.0 Finished goods less energy.......................| 147.3 147.1 147.5 147.0 146.8 146.6 Finished consumer goods less energy..............| 150.6 150.5 150.8 150.4 150.2 149.9 | Finished goods less foods and energy.............| 150.3 150.3 150.6 150.1 149.9 150.0 Finished consumer goods less foods and energy....| 157.8 157.8 158.2 157.6 157.5 157.6 Consumer nondurable goods less foods and energy..| 177.6 177.6 177.9 177.7 177.9 178.0 | Intermediate energy goods........................| 96.9 95.1 96.0 95.0 95.6 98.0 Intermediate materials less energy...............| 134.0 134.0 134.3 134.8 135.2 135.4 Intermediate materials less foods and energy.....| 135.3 135.4 135.7 136.0 136.5 136.6 | Crude energy materials 2/........................| 107.3 108.3 99.4 98.5 100.1 100.0 Crude materials less energy......................| 105.1 105.8 106.3 107.9 109.4 110.6 Crude nonfood materials less energy 3/...........| 131.1 134.1 137.3 139.6 140.1 139.3 _____________________________________________________________________________________________________________ 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 May 2002 have been recalculated to incorporate late reports and corrections by respondents. 2/ Includes crude petroleum. 3/ Excludes crude petroleum. Technical Note Brief Explanation of Producer Price Indexes The term Producer Price Index (PPI) refers to a family of indexes that measure the average change over time in the selling prices received by domestic producers of goods and services. PPIs measure price change from the perspective of the seller. This contrasts with other measures, such as the Consumer Price Index (CPI); CPIs measure price change from the purchaser's perspective. Sellers' and purchasers' prices may differ due to government subsidies, sales and excise taxes, and distribution costs. More than 10,000 PPIs for individual products and groups of products are released each month. PPIs are available for the products of virtually every industry in the mining and manufacturing sectors of the U.S. economy. New PPIs are gradually being introduced for the products of industries in the transportation, utilities, trade, finance, and services sectors of the economy. More than 100,000 price quotations per month are organized into three sets of producer price indexes: (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, 2, and 5) organizes products by class of buyer and degree of fabrication. 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). 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. The Bureau publishes price indexes instead of unit dollar prices. 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. The BLS periodically updates the PPI sample of survey respondents to better reflect current conditions when the structure, membership, technology, or product mix of an industry shifts significantly and to spread reporting burden among smaller firms. Results of these resampling efforts are incorporated into the PPI every January and July. As part of an ongoing effort to expand coverage to sectors of the economy other than mining and manufacturing, an increasing number of service sector industries have been introduced into the PPI. The following list of recently introduced service industries includes the month in which an article describing the industry's content appeared in the PPI Detailed Report: PPI Detailed Industry SIC Report Issue Wireless Telecommunications 4812 July 1999 Telephone Communications, Except Radio Telephone 4813 July 1995 Television Broadcasting 4833 July 2002 Grocery Stores 5411 July 2000 Meat and Fish (Seafood) Markets, 5421 July 2000 Fruit and Vegetable Markets 5431 July 2000 Candy, Nut, and Confectionery Stores 5441 July 2000 Retail Bakeries 5461 July 2000 Miscellaneous Food Stores 5499 July 2000 New Car Dealers 5511 July 2000 Gasoline Service Stations 5541 January 2002 Boat Dealers 5551 January 2002 Recreational Vehicle Dealers 5561 January 2002 Miscellaneous Retail 59 January 2001 Security Brokers, Dealers, and Investment Bankers 6211 January 2001 Life Insurance Carriers 6311 January 1999 Property and Casualty Insurance 6331 July 1998 Operators and Lessors of Nonresidential Buildings 6512 January 1996 Real Estate Agents and Managers 6531 January 1996 Prepackaged Software 7372 January 1998 Data Processing Services 7374 January 2002 Home Health Care Services 8082 January 1997 Legal Services 8111 January 1997 Engineering, Design, Analysis, and Consulting Services 8711 January 1997 Architectural, Design, Analysis, and Consulting Services 8712 January 1997 Premiums for Property and Casualty Insurance 9331 July 1998 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 1992 values of shipments as reported in the Census of Manufactures and other sources. From January 1992 through December 1995, PPI weights were derived from 1987 shipment values. Industry indexes shown in table 4 are also now calculated with 1992 net output weights. This periodic update of the value weights used to calculate the PPI is done to more accurately reflect changes in production and marketing patterns in the economy. Net output values of shipments are used as weights for industry indexes. Net output values refer to the value of shipments from establishments 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. Effective with publication of January 1988 data, many important PPI series (including stage-of-processing groupings and most commodity groups and individual items) were placed on a new reference base, 1982=100. From 1971 through 1987, the standard reference base for most PPI series was 1967=100. Except for rounding differences, the shift to the new reference base did not alter any 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 14, "Producer Prices," in BLS Handbook of Methods (April 1997), Bulletin 2490. Reprints are available from the Bureau of Labor Statistics on request. Calculating Index Changes 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 today." 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. 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 changes are affected by the level of the index in relation to its base period, whereas percent changes are not. The example below shows the computation of index point and percent changes. Index point change Finished Goods Price Index 107.5 Less previous index 104.0 Equals index point change 3.5 Index percent change Index point change 3.5 Divided by the previous index 104.0 Equals 0.034 Result multiplied by 100 0.034 x 100 Equals percent change 3.4 Seasonally Adjusted and Unadjusted Data Because price data are used for different purposes by different groups, the Bureau of Labor Statistics publishes seasonally adjusted and 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 that can be related to actual dollar values of transactions. Individuals requiring this information include marketing specialists, purchasing agents, budget and cost analysts, contract specialists, and commodity traders. It is the unadjusted data that are generally cited 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 (1) "Appendix A: Seasonal Adjustment Methodology at BLS," in the BLS Handbook of Methods (April 1997), Bulletin 2490 and (2) "Summary of Changes to the PPI's Seasonal Adjustment Methodology" in the January 1995 issue of Producer Price Indexes.