FOR DATA ONLY: (202) 691-5200 USDL 01-404 FOR TECHNICAL INFORMATION: TRANSMISSION OF MATERIAL IN (202) 691-7705 THIS RELEASE IS EMBARGOED MEDIA CONTACT: (202) 691-5902 UNTIL 8:30 A.M. (E.S.T.), FRIDAY, http://www.bls.gov/ppi NOVEMBER 9, 2001 Producer Price Indexes -- October 2001 The Producer Price Index (PPI) for Finished Goods decreased 1.6 percent in October, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This decline followed two consecutive monthly increases of 0.4 percent. Price decreases for energy goods, passenger cars, light trucks, and consumer foods led the decline in the finished goods index in October. At the earlier stages of processing, prices received by intermediate goods producers fell 1.5 percent, compared with a 0.1-percent increase in September. The crude goods index dropped 9.1 percent in October, after declining 4.1 percent 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 | |--------------------------------------------------------------------------------------| 2000 Oct. 0.4 0.7 1.5 0.0 3.7 0.2 3.8 Nov. .1 .2 .5 .1 3.8 -.2 -1.3 Dec. .1 -.3 .8 .1 3.6 .4 9.3 2001 Jan. 1.1 .9 4.4 .5 4.8 .8 17.5 Feb. .1 .8 .4 -.3 4.0 -.2 -14.5 Mar. -.1 .9 -2.4 .1 3.0 -.3 -6.7 Apr. .5 .6 1.1 .3 3.7 -.1 .5 May .1 -.2 .4 .2 3.9 .1 -2.2 June r-.4 -.2 r-2.5 r.1 r2.6 -.2 r-8.1 July r-1.1 -.6 r-6.2 r.1 1.5 -1.0 r-3.5 Aug. .4 .9 1.1 -.1 2.1 -.4 -2.3 Sept. .4 .2 .9 .3 1.6 .1 -4.1 Oct. -1.6 -.4 -7.7 -.5 -.4 -1.5 -9.1 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for June 2001 have been revised to reflect the availability of late reports and corrections by respondents. -2- Because of the recent disruptions to mail service in the Washington D.C. metropolitan area, the response rate for the October PPI was reduced to approximately 80 percent of its normal level. A review was undertaken to evaluate the impact of lower response rates on survey estimates. No unusual effects were found. In particular, response rates for passenger cars, light trucks, and gasoline were about normal in October. Among finished goods, prices for finished energy goods decreased 7.7 percent, following a 0.9-percent gain in September. The index for finished consumer foods fell 0.4 percent, after rising 0.2 percent in September. The index for finished goods other than foods and energy turned down 0.5 percent, after posting a 0.3-percent gain in September. Excluding passenger cars and light trucks, prices for finished goods other than foods and energy would have shown no change in October. For the first 10 months of 2001, the Producer Price Index for Finished Goods decreased at a 0.8-percent seasonally adjusted annual rate (SAAR), after rising 3.6 percent for the 2000 calendar year. Prices for finished goods other than foods and energy rose at a 0.8-percent SAAR for the first 10 months of 2001, after posting a 1.3-percent gain in 2000. The index for intermediate goods fell at a 3.2-percent SAAR from December 2000 to October 2001, following a 4.1-percent increase for the 12 months ended December 2000. Prices for crude goods dropped at a 35.2-percent SAAR during the first 10 months of 2001, after a 35.5-percent rise during all of 2000. 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 | | | | |Excluding|12 months | | |Excluding| months | | | | |foods and|months ago| | Energy |foods and| ago | |Month | Foods | Energy | energy | (unadj.) | Foods | (unadj.)| energy |(unadj.) | |----------------------------------------------------------------------------------| 2000 Oct. 0.6 1.1 0.0 4.6 3.1 5.9 -0.8 25.3 Nov. .2 -.2 -.1 4.2 1.2 -2.7 -2.1 17.6 Dec. 1.8 1.4 0 4.1 3.6 15.8 .4 35.5 2001 Jan. 1.4 4.1 .1 4.6 1.6 31.7 0 55.7 Feb. -1.1 -1.7 .1 3.5 -1.3 -23.0 -1.8 28.0 Mar. .4 -2.4 .1 2.3 3.4 -14.0 -1.0 17.1 Apr. -.1 -.1 -.1 2.1 -.5 2.1 -2.4 19.6 May .4 .6 0 2.3 -1.3 -3.2 -.6 13.3 June 1.0 r-.6 -.1 1.2 r0 r-15.8 r-1.1 r-4.0 July .6 r-4.1 -.4 0 r.5 r-7.9 r-.5 -5.4 Aug. 1.8 -1.0 -.4 -.1 -.6 -4.4 -.8 -4.1 Sept. -.4 1.0 -.1 -.8 1.1 -10.7 .2 -14.3 Oct. -.8 -7.6 -.4 -2.4 -2.6 -19.2 -1.7 -25.0 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for June 2001 have been revised to reflect the availability of late reports and corrections by respondents. -3- Before seasonal adjustment the Producer Price Index for Finished Goods decreased 1.5 percent, to stand at 139.6 (1982=100). From October 2000 to October 2001, prices for finished goods fell 0.4 percent. During the same period, the index for finished energy goods declined 9.5 percent. On the other hand, prices for finished consumer foods rose 2.8 percent for the 12 months ended October 2001 and the index for finished goods other than foods and energy gained 0.8 percent over the same period. At the earlier stages of processing, prices for both intermediate goods and crude goods declined during the past 12 months -- down 2.4 percent and 25.0 percent, respectively. Finished Goods The index for finished energy goods turned down 7.7 percent in October, after increasing 0.9 percent in September. October's 21.2-percent decrease in gasoline prices (the largest monthly decline since a 22.1- percent decrease in March 1986) followed a 6.3-percent increase in September. The indexes for home heating oil, liquefied petroleum gas, and diesel fuel also turned down in October. Prices for residential natural gas decreased at a faster rate than they did in September. By contrast, the residential electric power index turned up 0.5 percent in October, following a 0.4-percent fall in the prior month. The index for finished consumer goods other than foods and energy decreased 0.4 percent, following a 0.4-percent gain in September. Passenger car prices declined 4.7 percent in October, after increasing 1.3 percent in the previous month. In accordance with usual practice, most new model year passenger cars and light trucks were introduced into the PPI in October. (See Report on Quality Changes for 2002 Model Vehicles.) October's falling prices for passenger cars were largely due to increased incentives, such as low- or no-cost financing. The indexes for light motor trucks and book publishing also turned down, after advancing a month ago. Prices for sanitary paper and health products, alcoholic beverages, and for sporting and athletic goods rose less than they did in September. The pharmaceutical preparations index showed no change, after increasing last month. Prices for men's and boys' apparel showed no change in October, following a 0.5-percent decline in September. The indexes for cosmetics and other toilet preparations, footwear, textile housefurnishings, and floor coverings turned up, after falling last month. Prices for newspaper circulation and mobile homes advanced at a faster rate than they did in September. Prices for capital equipment declined 0.7 percent in October, after edging up 0.1 percent in September. The index for passenger cars dropped 4.7 percent, following a 1.3-percent gain in the previous month. Prices for light motor trucks, communication and related equipment, pumps and compressors, and industrial material handling equipment also turned down in October. The heavy motor truck index showed no change, after rising in the prior month. On the other hand, the index for electronic computers rose 0.2 percent in October, following a 6.2-percent decrease in September. Prices for civilian aircraft fell less than they did in the prior month. The index for commercial furniture advanced, after registering no change in September. Prices for agricultural machinery and equipment, printing trades machinery, and truck trailers turned up in October, compared with decreases in the previous month. The finished consumer foods index fell 0.4 percent in October, after posting a 0.2-percent gain in the prior month. Prices for fresh and dry vegetables turned down 11.4 percent, after rising 2.4 percent in September. The index for finfish and shellfish also decreased, after rising a month ago. Prices for dairy products, pork, and soft drinks fell more than they did in the previous month. The fresh fruits and melons index advanced less than it did in September. On the other hand, prices for eggs for fresh use rose 4.4 percent in October, following a 0.4-percent increase last month. The indexes for processed young chickens and confectionery end products rose at a faster rate in October than they did in September. Prices for beef and veal and for shortening and cooking oils declined less than they did in the prior month. The bakery products index increased, after showing no change a month ago. -4- Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components fell 1.5 percent in October, after inching up 0.1 percent in September. Prices for intermediate energy goods also turned down in October. The indexes for nondurable manufacturing materials, durable manufacturing materials, materials and components for construction, and intermediate foods and feeds decreased at a faster pace in October than they did in the prior month. Excluding foods and energy, the intermediate materials index decreased 0.4 percent, following a 0.1-percent dip in September. (See table B.) Intermediate energy goods prices dropped 7.6 percent in October, after posting a 1.0-percent gain in September. The gasoline index plummeted 21.2 percent, following a 6.3-percent increase in the prior month. Prices for diesel fuel, commercial electric power, residual fuel, and liquefied petroleum gas also turned down, after rising a month ago. The indexes for jet fuels and industrial natural gas fell more than they did in the preceding month. By contrast, industrial electric power prices turned up 0.7 percent in October, following a 0.6-percent decline in September. The indexes for natural gas to electric utilities and commercial natural gas fell less than they did in the previous month. Prices for materials for nondurable manufacturing decreased 0.9 percent in October, following a 0.1-percent decline in September. The index for industrial chemicals turned down 2.7 percent, after registering a 1.8-percent advance a month earlier. Price increases slowed from September to October for paint materials and phosphates. The indexes for inedible fats and oils and paperboard fell more in October than they did in the previous month. On the other hand, prices for plastic resins and materials turned up 1.3 percent, following a 2.7-percent drop a month ago. The indexes for nitrogenates, fertilizer materials, and leather declined at a slower rate than they did in the prior month. Prices for materials for durable manufacturing decreased 0.6 percent in October, following a 0.2-percent decline in September. The index for primary aluminum (except extrusion billet) fell 4.0 percent, after rising 0.7 percent in the preceding month. Similarly, prices for hot rolled bars, plates, and structural shapes and for copper and brass mill shapes also turned down, following gains in the prior month. The plywood index declined more rapidly in October than it did in September. Prices for hot rolled sheet and strip fell, after showing no change a month ago. Partially counteracting these price movements, the index for aluminum mill shapes turned up 0.3 percent, following a 2.9-percent decline in the previous month. The rate of increase in prices for semi-finished steel mill products and cement accelerated from September to October. The prepared paint index edged up, after falling a month ago. In October, hardwood lumber prices decreased less rapidly than they did in the prior month. The construction materials index declined 0.3 percent in October, after edging down 0.1 percent in September. Softwood lumber prices dropped 4.4 percent, following a 0.3-percent decrease a month earlier. The indexes for plywood and fabricated structural metal products also fell at a faster rate than they did in the previous month. Prices for asphalt felts and coatings, gypsum products, and millwork rose less in October than in September. The index for switchgear turned down, after rising a month ago. Conversely, prices for plastic construction products advanced 2.7 percent in October, following a 2.0-percent decline in September. The index for plumbing fixtures and brass fittings also turned up, after a decrease in the prior month. Prices for nonferrous wire and cable and for hardwood lumber fell less than they did in the preceding month. -5- The index for intermediate foods and feeds declined 0.8 percent in October, after falling 0.4 percent in September. Prices for dairy products decreased 1.9 percent, following a 0.7-percent drop in the prior month. The indexes for natural, processed, and imitation cheese and for refined sugar turned down, after posting gains a month ago. Prices for prepared animal feeds, crude vegetable oils, pork, and fluid milk products fell more rapidly than they did in September. By contrast, the beef and veal index decreased 0.6 percent in October, following a 1.1-percent decline in the previous month. Prices for confectionery materials and for mayonnaise, salad dressings, and sandwich spreads turned up, after falling a month earlier. In October, the flour index rose more than it did in September. Crude goods The Producer Price Index for Crude Materials for Further Processing dropped 9.1 percent in October, after registering a 4.1-percent decline in September. Accounting for a majority of this accelerating rate of decrease, October prices for crude energy materials fell more than they did a month earlier. Also contributing to this faster rate of decline, the indexes for crude foodsuffs and feedstuffs and for basic industrial materials turned down, after rising in September. (See table B.) Prices for crude energy materials dropped 19.2 percent in October, following a 10.7-percent decrease in September. The crude petroleum index turned down 19.6 percent, after a 0.1-percent gain in the prior month. Posting its sixth consecutive monthly decline, natural gas prices fell 27.5 percent, following a 22.8-percent decline in September. The coal index exhibited a slowing rate of increase, edging up 0.5 percent in October, after rising 2.5 percent in the previous month. After a 1.1-percent advance in September, prices for crude foodstuffs and feedstuffs turned down 2.6 percent in October. The index for slaughter cattle fell 3.2 percent, following a 0.5-percent gain in the prior month. Prices for corn, unprocessed shellfish, unprocessed finfish, and fresh vegetables (except potatoes) also decreased in October, after increasing in September. The indexes for fluid milk and slaughter hogs declined more than they did in the previous month, while prices for slaughter broilers and fryers rose less in October than they did a month earlier. By contrast, the index for soybeans fell at a 6.0-percent rate in October, compared with a 9.4-percent rate of decrease in September. Alfalfa hay prices advanced more than they did in the prior month. The index for raw cane sugar was unchanged in October, following a 0.3-percent decline a month earlier. Prices for crude nonfood materials less energy turned down 1.7 percent in October, after inching up 0.2 percent in September. The raw cotton index dropped at a 15.2-percent rate, following a 4.8-percent rate of decrease in the previous month. Prices for iron and steel scrap and for pulpwood also fell more in October than they did a month earlier. The indexes for hides and skins, nonferrous metal ores, wastepaper, and softwood logs, bolts, and timber turned down in October. Leaf tobacco prices increased at a slower rate than they did in the prior month. On the other hand, the index for aluminum base scrap advanced 0.5 percent, following a 1.7-percent decline in September. October prices for construction sand, gravel, and crushed stone rose slightly more than they did a month earlier. -6- Net output price indexes for mining, manufacturing, and services industries Mining. The Producer Price Index for the Net Output of Total Mining Industries fell 14.9 percent in October, following a 7.8-percent decline in September. (Net output price indexes are not seasonally adjusted.) The majority of October's faster rate of decrease was due to a 21.6-percent drop in prices received by the crude petroleum, natural gas, and natural gas liquids industry, compared with an 11.5-percent fall in the previous month. The indexes for the bituminous coal and lignite and gold ores industries rose less than they did a month ago. Prices received by the oil and gas well drilling industry and the oil and gas field exploration services industry turned down, after increasing in the prior month. On the other hand, the index for the potash, soda, and borate minerals industry advanced 0.8 percent in October, following a 0.7-percent decline in September. Prices received by the industrial sand industry turned up, after falling in the prior month. The index for the coal mining services industry increased at a faster rate than it did in September. Prices received by the non-metallic minerals services (except fuels) industry showed no change, after decreasing last month. In October, the Producer Price Index for the Net Output of Total Domestic Mining Industries stood at 78.8 (December 1984 = 100), 40.2 percent below its year-ago level. Manufacturing. The Producer Price Index for the Net Output of Total Manufacturing Industries dropped 1.5 percent in October, following a 0.6- percent increase in September. Accounting for most of this deceleration, prices received by the petroleum refining and related products industry group fell 18.7 percent, after jumping 8.1 percent a month ago. The industry group index for food and kindred products decreased, after showing no change last month. Prices received by the chemicals and allied products, measuring and controlling instruments, and paper and allied products industry groups turned down, after showing increases in September. The industry group index for lumber and wood products (except furniture) fell more than it did in the prior month. By contrast, prices received by the transportation equipment industry group rose 0.9 percent in October, after showing no change in September. The industry group indexes for rubber and miscellaneous plastic products and printing, publishing, and allied industries turned up, after declining last month. Prices received by the machinery (except electrical) industry group decreased at a slower rate than they did a month ago. The industry group index for electrical and electronic machinery, equipment, and supplies advanced, after showing no change in the previous month. In October, the Producer Price Index for the Net Output of Total Domestic Manufacturing Industries stood at 133.6 (December 1984 = 100), 1.0 percent below its year-ago level. Services. Among service industries in October, advancing prices were registered by the industries for general medical and surgical hospitals, scheduled air transportation, railroads (line-haul operating), property and casualty insurance, specialty hospitals (except psychiatric), local trucking without storage, cable and other pay television services, hotels and motels, and home health care services. On the other hand, the industries for telephone communications (except radiotelephone), deep sea foreign transportation of freight, operators and lessors of nonresidential buildings, passenger car rental, real estate agents and managers, trucking (except local), and freight transportation arrangement experienced falling prices in October. ***** Producer Price Index data for November 2001 will be released on Thursday, December 13, 2001 at 8:30 a.m. (E.S.T.) -7- PPI Weights to be Updated The Bureau of Labor Statistics will soon update the value weights used to calculate Producer Price Indexes to more accurately reflect recent production and marketing patterns. The new weights, which will be introduced in February 2002 with the release of January 2002 index data, will be based on shipment values from the year 1997. These value weights come from the Census of Manufactures, the Census of Mining, the Census of Services, and the Census of Agriculture. PPI weights have been based upon 1992 census shipment values since January 1996. All indexes will be affected by this weight update, including all the industry net output indexes, as well as those calculated from traditional commodity groupings. In addition, weights will be updated from the 1992 to the 1997 census for all stage-of-processing indexes, net output of industry by stage of process indexes, durability of product indexes, and special commodity-grouping indexes. This weight revision will not change the arithmetic reference base, in most cases 1982=100, of the PPI index system. Also with the publication of January data on February 13, 2002, SIC- classified indexes will reflect updated input/output (I/O) ratios based on the 1992 Input-Output Account of the Bureau of Economic Analysis (BEA). These I/O ratios, which represent the proportion of each industry's output consumed outside the industry, will be updated from those reflected in BEA's 1987 Input-Output Account. The commodity grouping indexes will not be affected. It is important to note that the PPI classification system and aggregation structure will not change as a result of the weight revisions discussed above. The weight update, however, will result in significant shifts in the relative importance of various industries and products, and these shifts will impact future aggregate indexes in a manner commensurate with the relative gains and losses in value weights from 1992 to 1997. Relative importances as of December 2001 on the 1992 and 1997 weighting schemes will be available on February 13, 2002. To request this information call the Division of Industrial Prices and Price Indexes, Section of Index Analysis at 202-691-7705. 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| |Oct. 2001 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | |June |Sept. |Oct. | Oct. | Sept. |July to|Aug. to |Sept. to | 2000 1/|2001 2/|2001 2/|2001 2/| 2000 | 2001 | Aug. | Sept. | Oct. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 142.2 141.7 139.6 -0.4 -1.5 0.4 0.4 -1.6 Finished consumer goods........................| 76.120 143.6 142.9 139.9 -.6 -2.1 .5 .4 -1.9 Finished consumer foods......................| 22.507 142.0 142.9 141.8 2.8 -.8 .9 .2 -.4 Crude......................................| 1.549 123.5 126.1 122.3 -8.3 -3.0 6.5 3.3 -3.0 Processed..................................| 20.958 143.4 144.2 143.3 3.6 -.6 .5 0 -.3 Finished consumer goods, excluding foods.....| 53.624 144.1 142.7 139.0 -1.8 -2.6 .3 .6 -2.5 Nondurable goods less foods................| 38.191 146.9 145.1 139.2 -2.4 -4.1 .4 .6 -3.0 Durable goods..............................| 15.434 133.3 133.2 134.4 -.7 .9 .1 .5 -1.3 Capital equipment..............................| 23.868 139.4 139.4 139.8 0 .3 -.1 .1 -.7 Manufacturing industries.....................| 6.278 140.4 140.4 140.2 .3 -.1 .1 -.1 -.4 Nonmanufacturing industries..................| 17.590 139.0 139.0 139.6 -.1 .4 -.1 .2 -.9 | Intermediate materials, supplies, and components.| 100.000 131.4 130.1 127.6 -2.4 -1.9 -.4 .1 -1.5 Materials and components for manufacturing.....| 45.385 128.2 126.6 125.9 -1.9 -.6 -.5 -.2 -.5 Materials for food manufacturing.............| 3.224 125.7 127.5 126.1 5.9 -1.1 1.4 -.2 -.7 Materials for nondurable manufacturing.......| 15.685 133.1 129.9 128.7 -3.7 -.9 -1.3 -.1 -.9 Materials for durable manufacturing..........| 9.861 126.4 124.2 123.4 -4.2 -.6 -.6 -.2 -.6 Components for manufacturing.................| 16.616 126.5 125.9 125.9 -.4 0 -.1 -.2 .1 Materials and components for construction......| 13.216 151.7 150.8 150.4 .1 -.3 0 -.1 -.3 Processed fuels and lubricants.................| 15.634 110.6 108.4 97.4 -10.8 -10.1 -1.0 1.0 -7.7 Manufacturing industries ....................| 5.555 111.3 108.4 101.2 -5.3 -6.6 -1.5 .6 -4.1 Nonmanufacturing industries..................| 10.080 109.9 108.0 94.9 -13.8 -12.1 -.7 1.3 -9.7 Containers.....................................| 3.966 154.0 153.0 152.4 -.7 -.4 -.3 -.1 -.4 Supplies.......................................| 21.799 138.8 138.6 138.3 .4 -.2 -.1 -.1 -.2 Manufacturing industries.....................| 5.024 145.7 145.0 144.9 .3 -.1 -.3 -.1 -.1 Nonmanufacturing industries..................| 16.775 135.9 135.8 135.5 .5 -.2 .1 -.1 -.2 Feeds......................................| 1.229 95.1 98.8 97.5 3.3 -1.3 3.1 -1.0 -1.3 Other supplies.............................| 15.546 140.8 140.3 140.1 .4 -.1 -.2 .1 -.2 | Crude materials for further processing...........| 100.000 120.6 108.0 97.7 -25.0 -9.5 -2.3 -4.1 -9.1 Foodstuffs and feedstuffs......................| 30.898 109.8 108.5 104.7 5.2 -3.5 -.6 1.1 -2.6 Nonfood materials..............................| 69.102 123.6 103.8 89.4 -39.1 -13.9 -3.4 -7.6 -13.8 Nonfood materials except fuel 3/.............| 28.621 106.4 103.7 93.1 -23.3 -10.2 -.8 .2 -10.0 Manufacturing 3/...........................| 27.686 97.7 95.2 85.2 -24.0 -10.5 -.7 .1 -10.3 Construction...............................| 0.935 184.8 182.6 180.1 -2.4 -1.4 -.5 .1 -1.4 Crude fuel 4/................................| 40.481 137.5 95.8 77.2 -54.5 -19.4 -6.5 -17.1 -19.4 Manufacturing industries...................| 3.470 136.2 93.9 74.4 -56.5 -20.8 -6.2 -17.4 -20.8 Nonmanufacturing industries................| 37.011 140.0 97.6 78.8 -54.3 -19.3 -6.6 -17.1 -19.3 | Special groupings | | Finished goods, excluding foods..................|5/ 77.493 142.2 141.3 138.8 -1.3 -1.8 .2 .4 -1.9 Intermediate materials less foods and feeds......|6/ 95.547 132.3 130.7 128.2 -2.8 -1.9 -.5 .1 -1.5 Intermediate foods and feeds.....................|6/ 4.453 116.3 118.7 117.3 5.2 -1.2 1.8 -.4 -.8 Crude materials less agricultural products 3/ 7/.|8/ 67.222 125.7 104.8 89.9 -39.5 -14.2 -3.8 -7.8 -14.0 | Finished energy goods............................|5/ 15.512 103.1 100.1 90.1 -9.5 -10.0 1.1 .9 -7.7 Finished goods less energy.......................|5/ 84.488 147.7 147.9 147.9 1.3 0 .2 .3 -.5 Finished consumer goods less energy..............|5/ 60.620 151.1 151.4 151.3 1.8 -.1 .3 .3 -.5 | Finished goods less foods and energy.............|5/ 61.981 149.9 149.8 150.4 .8 .4 -.1 .3 -.5 Finished consumer goods less foods and energy....|5/ 38.113 156.9 156.8 157.5 1.3 .4 -.1 .4 -.4 Consumer nondurable goods less foods and energy..|5/ 22.679 175.8 175.6 175.8 2.6 .1 -.1 .2 .1 | Intermediate energy goods........................|6/ 15.755 110.1 107.9 97.1 -10.8 -10.0 -1.0 1.0 -7.6 Intermediate materials less energy...............|6/ 84.245 135.9 134.7 134.2 -.9 -.4 -.3 -.1 -.4 Intermediate materials less foods and energy.....|6/ 79.792 137.1 135.8 135.3 -1.2 -.4 -.4 -.1 -.4 | Crude energy materials 3/........................|8/ 54.136 118.3 93.1 75.2 -48.1 -19.2 -4.4 -10.7 -19.2 Crude materials less energy......................|8/ 45.864 114.7 113.3 109.8 -.3 -3.1 -.7 .9 -2.3 Crude nonfood materials less energy 4/...........|8/ 14.966 130.1 128.5 125.8 -10.8 -2.1 -.8 .2 -1.7 | _______________________________________________________________________________________________________________________________ 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 June 2001 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 | | |Oct. 2001 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |June |Sept. |Oct. | Oct. | Sept. |July to|Aug. to|Sept.to | |2001 1/|2001 1/|2001 1/| 2000 | 2001 | Aug. | Sept.| Oct. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 142.2 141.7 139.6 -0.4 -1.5 0.4 0.4 -1.6 | FINISHED CONSUMER GOODS...............................| 143.6 142.9 139.9 -.6 -2.1 .5 .4 -1.9 | FINISHED CONSUMER FOODS..............................| 142.0 142.9 141.8 2.8 -.8 .9 .2 -.4 | | 01-11 | Fresh fruits and melons 2/..........................| 100.6 94.9 100.3 4.9 5.7 1.5 10.1 5.7 01-13 | Fresh and dry vegetables 2/.........................| 120.5 125.1 110.8 -23.0 -11.4 15.9 2.4 -11.4 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 71.8 71.7 77.0 -15.1 7.4 -5.5 .4 4.4 02-11 | Bakery products 2/..................................| 188.1 188.7 189.3 2.8 .3 0 0 .3 02-13 | Milled rice 2/......................................| 86.2 87.3 86.7 -10.0 -.7 -2.1 4.3 -.7 02-14-02 | Pasta products (June 1985=100) 2/...................| 122.2 122.2 122.2 .6 0 0 0 0 02-21-01 | Beef and veal.......................................| 122.5 117.6 116.2 3.5 -1.2 -.5 -1.1 -.6 02-21-04 | Pork................................................| 124.7 125.7 119.5 9.5 -4.9 -.1 -.3 -1.1 02-22-03 | Processed young chickens............................| 118.8 125.0 123.3 7.5 -1.4 2.4 .7 2.0 02-22-06 | Processed turkeys...................................| 98.7 100.3 102.5 -3.1 2.2 .3 -.2 .4 02-23 | Finfish and shellfish...............................| 182.2 191.9 182.9 -5.9 -4.7 -.2 3.4 -4.7 02-3 | Dairy products......................................| 150.4 153.5 150.6 12.1 -1.9 -1.2 -.7 -1.9 02-4 | Processed fruits and vegetables 2/..................| 128.8 129.7 130.1 1.5 .3 .3 .4 .3 02-55 | Confectionery end products 2/.......................| 170.5 171.2 172.5 1.1 .8 .2 .1 .8 02-62 | Soft drinks.........................................| 147.4 149.3 148.6 3.0 -.5 1.8 -.1 -.3 02-63-01 | Roasted coffee 2/...................................| 123.7 123.7 123.4 -5.3 -.2 -.1 0 -.2 02-78 | Shortening and cooking oils 2/......................| 131.1 136.7 134.4 1.1 -1.7 8.2 -4.6 -1.7 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 144.1 142.7 139.0 -1.8 -2.6 .3 .6 -2.5 | | 02-61 | Alcoholic beverages.................................| 145.5 145.3 145.9 2.2 .4 .1 .3 .1 03-81-01 | Women's apparel 2/..................................| 123.3 123.0 122.5 -1.8 -.4 .7 -.2 -.4 03-81-02 | Men's and boys' apparel.............................| 132.6 131.9 131.9 -1.0 0 -.1 -.5 0 03-81-03 | Girls', children's, and infants' apparel 2/.........| 116.3 117.0 117.0 .8 0 0 .3 0 03-82 | Textile housefurnishings 2/.........................| 122.4 122.4 122.5 1.0 .1 .2 -.2 .1 04-3 | Footwear 2/.........................................| 145.7 145.6 145.7 .4 .1 0 -.7 .1 05-41 | Residential electric power (Dec. 1990=100)..........| 120.9 121.0 118.5 5.0 -2.1 -.3 -.4 .5 05-51 | Residential gas (Dec. 1990=100).....................| 162.1 140.3 133.0 -13.1 -5.2 -5.7 -5.0 -6.0 05-71 | Gasoline............................................| 104.4 103.7 77.3 -21.3 -25.5 8.7 6.3 -21.2 05-73-02-01| Fuel oil No. 2......................................| 90.4 94.5 75.2 -30.2 -20.4 .8 4.5 -20.9 06-38 | Pharmaceutical preparations (June 2001=100) 2/......| 100.0 99.6 99.6 (3) 0 -.9 .4 0 06-71 | Soaps and synthetic detergents 2/...................| 130.6 131.0 131.0 .6 0 .1 .3 0 06-75 | Cosmetics and other toilet preparations 2/..........| 138.7 138.2 138.7 .1 .4 .1 -.1 .4 07-12 | Tires, tubes, tread, etc 2/.........................| 93.8 94.3 94.4 1.5 .1 -.1 -.2 .1 09-15-01 | Sanitary papers and health products 2/..............| 147.8 148.3 148.5 -.1 .1 -.9 3.0 .1 09-31-01 | Newspaper circulation 2/............................| 219.0 219.8 222.4 3.5 1.2 0 .4 1.2 09-32-01 | Periodical circulation..............................| 200.5 202.8 202.3 1.9 -.2 1.5 .2 .2 09-33 | Book publishing.....................................| 224.5 226.8 227.4 1.9 .3 .8 .3 -.4 12-1 | Household furniture 2/..............................| 155.1 155.1 155.3 1.2 .1 .1 .1 .1 12-3 | Floor coverings 2/..................................| 129.8 128.1 128.2 -2.2 .1 -1.0 -.3 .1 12-4 | Household appliances ...............................| 105.3 104.6 104.9 -1.7 .3 .4 .2 .3 12-5 | Home electronic equipment 2/........................| 70.1 70.0 69.8 -2.0 -.3 0 .4 -.3 12-62 | Household glassware.................................| 170.5 169.7 169.8 1.4 .1 -.1 0 .1 12-64 | Household flatware 2/...............................| 143.2 143.2 143.2 -1.1 0 0 0 0 12-66 | Lawn and garden equip., ex. tractors 2/.............| 132.6 133.2 132.7 .2 -.4 .1 .8 -.4 14-11-01 | Passenger cars......................................| 131.2 130.6 131.8 -2.4 .9 .7 1.3 -4.7 15-11 | Toys, games, and children's vehicles 2/.............| 123.7 123.4 123.7 1.4 .2 .3 0 .2 15-12 | Sporting and athletic goods 2/......................| 126.2 125.9 126.0 .2 .1 -1.0 1.0 .1 15-2 | Tobacco products 2/.................................| 447.8 447.6 447.6 10.8 0 0 0 0 15-5 | Mobile homes 2/.....................................| 164.2 164.9 166.3 2.6 .8 0 .1 .8 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 128.6 129.5 129.7 2.0 .2 -.1 .2 .2 15-94-04 | Costume jewelry and novelties 2/....................| 143.8 143.8 144.1 1.3 .2 -.2 0 .2 | | | CAPITAL EQUIPMENT.....................................| 139.4 139.4 139.8 0 .3 -.1 .1 -.7 | | 11-1 | Agricultural machinery and equipment 2/.............| 156.0 155.2 155.6 1.0 .3 .4 -.2 .3 11-2 | Construction machinery and equipment................| 149.1 149.2 149.1 .1 -.1 .1 .1 -.1 11-37 | Metal cutting machine tools 2/......................| 163.6 154.4 154.4 -4.8 0 .8 -.1 0 11-38 | Metal forming machine tools 2/......................| 165.1 165.4 165.3 1.4 -.1 0 0 -.1 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 141.7 141.2 140.9 0 -.2 -.2 -.2 -.2 11-41 | Pumps, compressors, and equipment...................| 156.6 158.7 158.6 2.6 -.1 1.2 .4 -.1 11-44 | Industrial material handling equipment 2/...........| 136.9 137.7 137.6 1.7 -.1 .2 .2 -.1 11-51 | Electronic computers (Dec. 1998=100) 2/.............| 58.4 50.1 50.2 -28.7 .2 -9.3 -6.2 .2 11-62 | Textile machinery 2/................................| 157.9 158.1 158.1 1.0 0 -.1 0 0 11-64 | Paper industries machinery (June 1982=100)..........| 167.1 168.8 167.6 1.7 -.7 1.3 -.1 -.7 11-65 | Printing trades machinery 2/........................| 143.7 143.1 143.3 .4 .1 0 -.6 .1 11-74 | Transformers and power regulators 2/................| 134.4 134.0 134.0 -1.5 0 -.3 .1 0 11-76 | Communication & related equip. (Dec. 1985=100) 2/...| 109.5 109.0 108.4 -1.8 -.6 -1.1 .2 -.6 11-79-05 | X-ray and electromedical equipment 2/...............| 100.2 100.7 100.1 -.8 -.6 2.2 -.5 -.6 11-91 | Oil field and gas field machinery ..................| 134.6 135.9 136.9 5.8 .7 .2 .7 .6 11-92 | Mining machinery and equipment 2/...................| 148.6 148.9 149.1 1.8 .1 .1 0 .1 11-93 | Office and store machines and equipment 2/..........| 112.5 112.7 112.7 -.8 0 -.2 0 0 12-2 | Commercial furniture 2/.............................| 160.4 160.4 160.9 1.4 .3 -.2 0 .3 14-11-05 | Light motor trucks..................................| 151.3 152.1 158.8 -1.6 4.4 -.2 .7 -1.3 14-11-06 | Heavy motor trucks 2/...............................| 147.1 149.2 149.2 .7 0 0 .5 0 14-14 | Truck trailers 2/...................................| 138.8 138.6 138.9 -1.1 .2 -.1 -.1 .2 14-21-02 | Civilian aircraft (Dec. 1985=100)...................| 168.5 170.2 170.2 4.5 0 .5 -.3 -.1 14-31 | Ships (Dec. 1985=100) 2/............................| 149.0 148.9 148.9 .3 0 -1.8 .1 0 14-4 | Railroad equipment 2/...............................| 135.7 135.6 135.8 0 .1 .1 -.1 .1 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 131.4 130.1 127.6 -2.4 -1.9 -.4 .1 -1.5 | | | INTERMEDIATE FOODS AND FEEDS..........................| 116.3 118.7 117.3 5.2 -1.2 1.8 -.4 -.8 | | 02-12-03 | Flour 2/............................................| 110.9 109.6 111.0 3.0 1.3 -1.3 .6 1.3 02-53 | Refined sugar 2/....................................| 109.2 111.5 111.3 4.8 -.2 1.2 1.5 -.2 02-54 | Confectionery materials.............................| 105.1 106.0 107.2 14.3 1.1 1.5 -.2 1.3 02-72 | Crude vegetable oils 2/.............................| 71.0 78.4 70.8 4.1 -9.7 14.8 -6.4 -9.7 02-9 | Prepared animal feeds 2/............................| 104.0 106.4 105.3 2.3 -1.0 2.4 -.7 -1.0 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 132.3 130.7 128.2 -2.8 -1.9 -.5 .1 -1.5 | | 03-1 | Synthetic fibers 2/.................................| 107.7 107.8 107.7 -.7 -.1 -1.0 .7 -.1 03-2 | Processed yarns and threads 2/......................| 106.5 104.2 103.4 -4.0 -.8 -.4 -.4 -.8 03-3 | Gray fabrics 2/.....................................| 114.5 114.7 113.7 .4 -.9 1.9 -.7 -.9 03-4 | Finished fabrics....................................| 123.4 122.5 122.5 -.2 0 -.8 .1 .1 03-83-03 | Industrial textile products 2/......................| 132.4 133.6 133.5 1.7 -.1 -.1 .3 -.1 04-2 | Leather 2/..........................................| 206.1 199.4 197.3 6.6 -1.1 -.1 -1.3 -1.1 05-32 | Liquefied petroleum gas 2/..........................| 129.7 113.3 101.8 -30.0 -10.2 6.5 1.5 -10.2 ____________________________________________________________________________________________________________________________________ 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 | | |Oct. 2001 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |June |Sept. |Oct. | Oct. | Sept. |July to|Aug. to|Sept.to | |2001 1/|2001 1/|2001 1/| 2000 | 2001 | Aug. | Sept.| Oct. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 146.8 148.1 138.3 3.4 -6.6 -0.6 0.5 -1.8 05-43 | Industrial electric power...........................| 148.4 148.3 144.0 7.4 -2.9 -.5 -.6 .7 05-52 | Commercial natural gas (Dec. 1990=100)..............| 165.1 139.2 134.0 -12.7 -3.7 -7.0 -6.6 -6.1 05-53 | Industrial natural gas (Dec. 1990=100)..............| 173.3 139.0 127.4 -22.5 -8.3 -11.6 -5.5 -9.9 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 124.3 85.0 75.0 -46.7 -11.8 -18.1 -19.3 -14.4 05-72-03 | Jet fuels...........................................| 82.8 82.4 67.2 -35.8 -18.4 -1.6 -.2 -21.8 05-73-03 | No. 2 Diesel fuel...................................| 90.2 91.2 75.4 -31.5 -17.3 -7.2 6.7 -18.3 05-74 | Residual fuel 2/....................................| 78.0 73.8 68.6 -30.6 -7.0 -9.5 9.5 -7.0 06-1 | Industrial chemicals 2/.............................| 131.0 126.8 123.4 -5.4 -2.7 -2.3 1.8 -2.7 06-21 | Prepared paint......................................| 164.8 164.7 164.7 2.4 0 .7 -.2 .1 06-22 | Paint materials 2/..................................| 151.9 152.8 154.1 2.9 .9 -.9 3.0 .9 06-31 | Medicinal and botanical chemicals 2/................| 141.1 140.1 140.1 -3.7 0 -.6 -.1 0 06-4 | Fats and oils, inedible 2/..........................| 71.9 95.6 80.4 22.7 -15.9 23.7 -5.0 -15.9 06-51 | Mixed fertilizers...................................| 118.2 114.6 114.8 2.0 .2 -1.8 -1.7 .5 06-52-01 | Nitrogenates........................................| 142.6 118.0 112.7 -13.4 -4.5 -4.5 -7.9 -5.6 06-52-02 | Phosphates 2/.......................................| 94.3 93.4 93.9 -3.1 .5 -4.7 3.1 .5 06-53 | Other agricultural chemicals 2/.....................| 148.0 147.8 148.1 1.0 .2 -.1 .1 .2 06-6 | Plastic resins and materials 2/.....................| 137.6 129.1 130.8 -7.0 1.3 -3.4 -2.7 1.3 07-11-02 | Synthetic rubber 2/.................................| 124.3 122.5 120.2 -.9 -1.9 -1.0 -.6 -1.9 07-21 | Plastic construction products ......................| 134.6 129.7 132.6 -2.2 2.2 -.9 -2.0 2.7 07-22 | Unsupported plastic film, sheet, & other shapes 2/..| 138.9 136.5 135.9 2.7 -.4 -.7 -.3 -.4 07-26 | Plastic parts and components for manufacturing 2/...| 117.2 116.1 116.4 -1.0 .3 -.1 -.9 .3 08-11 | Softwood lumber 2/..................................| 187.3 172.2 164.6 -1.7 -4.4 -1.7 -.3 -4.4 08-12 | Hardwood lumber ....................................| 180.7 178.6 178.0 -5.1 -.3 -.2 -.6 -.3 08-2 | Millwork 2/.........................................| 180.6 179.9 180.1 2.2 .1 .2 .2 .1 08-3 | Plywood 2/..........................................| 166.5 160.7 150.5 -3.0 -6.3 4.5 -1.8 -6.3 09-11 | Woodpulp 2/.........................................| 124.7 115.9 112.7 -25.4 -2.8 -2.9 -2.5 -2.8 09-13 | Paper 2/............................................| 152.0 149.3 148.9 -1.7 -.3 -1.5 -.3 -.3 09-14 | Paperboard 2/.......................................| 172.4 168.5 166.3 -7.8 -1.3 -1.3 -1.0 -1.3 09-15-03 | Paper boxes and containers 2/.......................| 176.2 175.0 174.4 -.7 -.3 -.1 -.2 -.3 09-2 | Building paper and board 2/.........................| 136.6 129.4 125.5 -4.6 -3.0 -2.5 -1.4 -3.0 09-37 | Commercial printing (June 1982=100) 2/..............| 158.0 157.2 157.2 .3 0 -.5 -.1 0 10-15 | Foundry and forge shop products.....................| 137.0 137.0 136.8 .1 -.1 .1 0 0 10-17 | Steel mill products 2/..............................| 101.3 100.9 100.0 -7.1 -.9 -.1 .1 -.9 10-22 | Primary nonferrous metals 2/........................| 107.7 100.1 99.1 -14.4 -1.0 -3.5 0 -1.0 10-25-01 | Aluminum mill shapes 2/.............................| 149.9 145.2 145.7 -3.3 .3 -.1 -2.9 .3 10-25-02 | Copper and brass mill shapes 2/.....................| 155.6 152.3 149.6 -11.1 -1.8 -2.7 .6 -1.8 10-26 | Nonferrous wire and cable 2/........................| 140.6 139.4 138.7 -4.7 -.5 .2 -.8 -.5 10-3 | Metal containers 2/.................................| 106.6 106.6 106.1 -1.2 -.5 -.2 0 -.5 10-4 | Hardware............................................| 154.9 155.5 155.4 2.4 -.1 .1 1.0 .1 10-5 | Plumbing fixtures and brass fittings................| 180.7 180.2 180.7 0 .3 .4 -.3 .6 10-6 | Heating equipment...................................| 157.1 157.0 157.0 .4 0 .1 .1 0 10-7 | Fabricated structural metal products................| 144.5 144.6 144.2 -.6 -.3 0 -.1 -.3 10-88 | Fabricated ferrous wire products (June 1982=100) 2/.| 129.5 129.8 129.5 -.6 -.2 .5 -.1 -.2 10-89 | Other misc. metal products 2/.......................| 127.1 127.1 127.0 .8 -.1 -.1 0 -.1 11-45 | Mechanical power transmission equipment.............| 166.9 167.2 167.2 1.8 0 .2 .1 .1 11-48 | Air conditioning and refrigeration equipment 2/.....| 136.1 136.3 136.0 .7 -.2 .2 -.1 -.2 11-49-02 | Metal valves, ex.fluid power (Dec. 1982=100) 2/.....| 164.8 164.8 165.5 1.7 .4 -.2 0 .4 11-49-05 | Ball and roller bearings............................| 169.2 169.2 169.3 -.4 .1 .1 .1 -.1 11-71 | Wiring devices 2/...................................| 154.4 154.3 154.2 1.1 -.1 -.1 0 -.1 11-73 | Motors, generators, motor generator sets............| 146.9 147.2 147.2 .6 0 -.1 .1 .1 11-75 | Switchgear, switchboard, etc., equipment............| 157.5 157.6 157.5 2.7 -.1 -.2 .8 -.4 11-78 | Electronic components and accessories 2/............| 94.0 92.0 92.5 -4.8 .5 .1 -1.6 .5 11-94 | Internal combustion engines.........................| 143.7 144.0 144.0 -.1 0 .1 .3 .1 11-95 | Machine shop products 2/............................| 140.4 140.5 140.4 1.5 -.1 0 0 -.1 13-11 | Flat glass 2/.......................................| 112.2 111.9 111.9 .4 0 -.2 -.2 0 13-22 | Cement..............................................| 150.0 150.5 150.9 .7 .3 .3 .2 .4 13-3 | Concrete products 2/................................| 150.7 152.7 152.7 2.2 0 .1 .3 0 13-6 | Asphalt felts and coatings..........................| 107.1 109.6 109.6 3.8 0 -.3 2.5 .2 13-7 | Gypsum products 2/..................................| 145.5 153.1 157.7 -11.3 3.0 .3 5.3 3.0 13-8 | Glass containers 2/.................................| 133.9 133.8 132.7 4.0 -.8 -.2 .6 -.8 14-12 | Motor vehicle parts 2/..............................| 113.4 112.7 112.7 -.5 0 .2 -.3 0 14-23 | Aircraft engines & engine parts (Dec. 1985=100).....| 145.5 145.6 145.8 2.8 .1 .6 .4 -.2 14-25 | Aircraft parts & aux.equip.,nec (June 1985=100).....| 148.2 147.1 147.2 .5 .1 .2 -.1 0 15-42 | Photographic supplies 2/............................| 129.3 129.3 129.2 2.2 -.1 0 0 -.1 15-6 | Medical/surgical/personal aid devices 2/............| 148.0 149.0 148.8 1.6 -.1 .1 .5 -.1 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 120.6 108.0 97.7 -25.0 -9.5 -2.3 -4.1 -9.1 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 109.8 108.5 104.7 5.2 -3.5 -.6 1.1 -2.6 | | 01-21 | Wheat 2/............................................| 87.1 82.7 82.8 -2.8 .1 -1.1 1.0 .1 01-22-02-05| Corn................................................| 72.4 80.8 75.8 5.4 -6.2 8.5 .1 -7.8 01-31 | Slaughter cattle 2/.................................| 111.7 105.2 101.8 1.6 -3.2 -2.8 .5 -3.2 01-32 | Slaughter hogs......................................| 87.2 75.1 69.4 -2.1 -7.6 -3.9 -1.4 -2.1 01-41-02 | Slaughter broilers/fryers...........................| 140.4 148.2 143.8 9.8 -3.0 -2.3 6.3 4.8 01-42 | Slaughter turkeys...................................| 108.7 116.7 121.8 -11.3 4.4 -2.5 2.5 .1 01-6 | Fluid milk..........................................| 121.2 125.7 121.2 29.2 -3.6 -3.1 -2.6 -5.8 01-83-01-31| Soybeans 2/.........................................| 80.8 80.1 75.3 -5.2 -6.0 1.6 -9.4 -6.0 02-52-01-01| Cane sugar,raw 2/...................................| 109.8 110.6 110.6 .1 0 0 -.3 0 | | | | CRUDE NONFOOD MATERIALS..............................| 123.6 103.8 89.4 -39.1 -13.9 -3.4 -7.6 -13.8 | | 01-51-01-01| Raw cotton..........................................| 63.3 56.2 47.5 -53.9 -15.5 -6.4 -4.8 -15.2 01-92-01-01| Leaf tobacco 2/.....................................| (3) 110.2 112.0 5.3 1.6 (3) 4.8 1.6 04-19 | Hides and skins (June 2001=100) 2/..................| 100.0 77.5 71.8 (3) -7.4 -18.9 4.7 -7.4 05-1 | Coal 2/.............................................| 94.1 96.6 97.1 12.5 .5 -1.9 2.5 .5 05-31 | Natural gas 2/......................................| 153.4 95.0 68.9 -65.8 -27.5 -7.7 -22.8 -27.5 05-61 | Crude petroleum 2/..................................| 77.0 73.9 59.4 -36.2 -19.6 -.7 .1 -19.6 08-5 | Logs, timber, etc...................................| 185.7 182.8 179.2 -4.1 -2.0 -.6 -.2 -1.9 09-12 | Wastepaper 2/.......................................| 135.5 140.6 140.2 -38.5 -.3 .4 3.2 -.3 10-11 | Iron ore 2/.........................................| 96.3 96.4 96.3 1.5 -.1 0 .1 -.1 10-12 | Iron and steel scrap 2/.............................| 119.4 124.6 118.6 -6.8 -4.8 1.2 -.6 -4.8 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 64.0 63.2 62.8 -10.0 -.6 -1.4 1.8 -.6 10-23-01 | Copper base scrap 2/................................| 118.3 107.8 106.7 -16.1 -1.0 -5.5 0 -1.0 10-23-02 | Aluminum base scrap.................................| 163.4 146.9 144.9 -15.2 -1.4 -5.0 -1.7 .5 13-21 | Construction sand, gravel, and crushed stone........| 169.2 169.7 169.6 3.2 -.1 .3 .1 .2 ____________________________________________________________________________________________________________________________________ 1/ The indexes for June 2001 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 | June 2001 |Sept. 2001 | Oct. 2001 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 399.1 | 397.8 | 391.6 | | All commodities................................| 135.5 | 133.4 | 130.2 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 127.4 | 128.0 | 126.0 | 01 | Farm products................................| 105.9 | 105.0 | 101.6 | 02 | Processed foods and feeds....................| 138.0 | 139.4 | 138.2 | | | | | | | Industrial commodities.........................| 137.1 | 134.4 | 131.0 | 03 | Textile products and apparel.................| 121.5 | 121.1 | 120.8 | 04 | Hides, skins, leather, and related products..| 163.4 | 155.6 | 153.4 | 05 | Fuels and related products and power.........| 109.2 | 101.5 | 89.1 | 06 | Chemicals and allied products 2/.............| 153.2 | 150.3 | 149.3 | 07 | Rubber and plastic products..................| 127.7 | 126.7 | 126.9 | 08 | Lumber and wood products.....................| 180.7 | 175.6 | 172.0 | 09 | Pulp, paper, and allied products.............| 185.0 | 184.2 | 183.8 | 10 | Metals and metal products....................| 125.8 | 124.8 | 124.2 | 11 | Machinery and equipment......................| 123.8 | 123.2 | 123.1 | 12 | Furniture and household durables.............| 133.1 | 132.8 | 133.0 | 13 | Nonmetallic mineral products.................| 143.8 | 144.8 | 145.1 | 14 | Transportation equipment.....................| 144.5 | 144.6 | 145.7 | 15 | Miscellaneous products.......................| 182.8 | 183.2 | 182.8 | | | | | | | Industrial commodities less fuels and related | | | | | products and power...........................| 143.6 | 142.7 | 142.5 | | | | | | | | | | | | OTHER COMMODITY GROUPINGS | | | | | | | | | 01-1 | Fruits and melons, fresh and dry vegetables, | | | | | and tree nuts................................| 114.6 | 113.1 | 110.6 | 01-2 | Grains.........................................| 77.6 | 81.7 | 78.5 | 01-3 | Slaughter livestock............................| 106.0 | 97.6 | 93.5 | 01-4 | Slaughter poultry..............................| 131.9 | 139.5 | 137.2 | 01-5 | Plant and animal fibers........................| 63.5 | 56.6 | 48.3 | 01-7 | Chicken eggs...................................| 79.1 | 81.8 | 86.5 | 01-8 | Hay, hayseeds, and oilseeds....................| 108.4 | 108.7 | 106.0 | 01-83 | Oilseeds.......................................| 91.3 | 90.6 | 86.7 | 01-9 | Other farm products............................| (3) | 164.4 | 167.0 | 02-1 | Cereal and bakery products.....................| 162.1 | 162.8 | 163.2 | 02-2 | Meats, poultry, and fish.......................| 126.8 | 127.3 | 124.7 | 02-22 | Processed poultry..............................| 117.6 | 121.6 | 121.3 | 02-5 | Sugar and confectionery........................| 135.2 | 136.3 | 137.1 | 02-6 | Beverages and beverage materials...............| 145.7 | 146.4 | 146.3 | 02-63 | Packaged beverage materials....................| 124.5 | 124.5 | 124.2 | 02-7 | Fats and oils..................................| 104.9 | 114.5 | 108.4 | 03-81 | Apparel........................................| 126.7 | 126.4 | 126.2 | 04-4 | Other leather and related products.............| 147.4 | 148.0 | 148.1 | 05-3 | Gas fuels......................................| 145.3 | 98.4 | 76.4 | 05-4 | Electric power.................................| 144.7 | 145.2 | 139.8 | 05-7 | Refined petroleum products.....................| 95.1 | 95.1 | 74.9 | 06-3 | Drugs and pharmaceuticals......................| 262.5 | 260.8 | 260.7 | 06-5 | Agricultural chemicals and products............| 130.5 | 124.3 | 123.4 | 06-7 | Other chemicals and allied products............| 139.7 | 139.9 | 139.9 | 07-1 | Rubber and rubber products.....................| 116.9 | 116.9 | 116.6 | 07-11 | Rubber, except natural rubber..................| 123.6 | 121.9 | 119.6 | 07-13 | Miscellaneous rubber products..................| 140.1 | 140.2 | 140.1 | 07-2 | Plastic products...............................| 136.0 | 134.5 | 135.0 | 08-1 | Lumber.........................................| 183.2 | 172.2 | 166.8 | 09-1 | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 158.1 | 156.3 | 155.5 | 09-15 | Converted paper and paperboard products........| 165.3 | 164.7 | 164.3 | 10-1 | Iron and steel.................................| 109.7 | 109.9 | 108.6 | 10-2 | Nonferrous metals..............................| 125.0 | 120.8 | 120.0 | 10-25 | Nonferrous mill shapes.........................| 142.6 | 138.8 | 138.7 | 11-3 | Metalworking machinery and equipment...........| 151.6 | 150.6 | 150.4 | 11-4 | General purpose machinery and equipment........| 152.8 | 153.2 | 153.1 | 11-6 | Special industry machinery.....................| 165.2 | 165.0 | 164.2 | 11-7 | Electrical machinery and equipment.............| 117.4 | 116.5 | 116.5 | 11-9 | Miscellaneous machinery and equipment..........| 135.7 | 136.3 | 136.3 | 12-6 | Other household durable goods..................| 157.3 | 157.6 | 157.5 | 13-2 | Concrete ingredients...........................| 159.3 | 159.8 | 159.8 | 14-1 | Motor vehicles and equipment...................| 130.5 | 130.3 | 132.0 | 15-1 | Toys, sporting goods, small arms, etc..........| 133.4 | 133.1 | 133.2 | 15-4 | Photographic equipment and supplies............| 111.8 | 111.8 | 111.8 | 15-9 | Other miscellaneous products...................| 139.1 | 139.4 | 139.1 | __________________________________________________________|___________|___________|___________| 1/ Data for June 2001 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. 3/ Not available. Table 4. Producer price indexes for the net output of major industry groups, not seasonally adjusted __________________________________________________________________________________________________________________ | | | Index | Percent change Industry | Industry 1/ |Index|_______________________|to_Oct._2001_from: code | |base | | | | | | | |June |Sep. |Oct. | Oct. | Sep. | | |2001 2/|2001 2/|2001 2/| 2000 | 2001 __________________|______________________________________________|_____|_______|_______|_______|________|_________ | | | |Total mining industries...................... |12/84| 112.2 92.6 78.8 -40.2 -14.9 10 | Metal mining................................ |12/84| 71.2 70.6 70.4 -6.3 -.3 12 | Coal mining................................. |12/85| 89.6 92.5 92.7 10.9 .2 13 | Oil and gas extraction...................... |12/85| 125.1 98.3 79.7 -47.4 -18.9 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 141.3 141.4 141.9 2.8 .4 | | | |Total manufacturing industries............... |12/84| 135.8 135.6 133.6 -1.0 -1.5 20 | Food and kindred products................... |12/84| 133.7 134.7 133.9 4.0 -.6 21 | Tobacco manufactures........................ |12/84| 391.7 391.1 391.1 11.2 0 22 | Textile mill products....................... |12/84| 117.2 116.5 116.2 -.5 -.3 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 125.8 125.9 125.9 -.1 0 24 | Lumber and wood products, except furniture.. |12/84| 161.6 156.9 154.3 -.5 -1.7 25 | Furniture and fixtures...................... |12/84| 145.3 145.3 145.8 1.5 .3 26 | Paper and allied products................... |12/84| 147.0 145.5 145.1 -1.7 -.3 27 | Printing, publishing, and allied industries. |12/84| 188.5 188.8 189.2 2.3 .2 28 | Chemicals and allied products............... |12/84| 159.7 156.4 156.0 -1.6 -.3 29 | Petroleum refining and related products..... |12/84| 115.9 115.4 93.8 -23.0 -18.7 30 | Rubber and miscellaneous plastic products... |12/84| 126.4 125.2 125.6 .2 .3 31 | Leather and leather products................ |12/84| 141.9 141.3 141.0 1.9 -.2 32 | Stone, clay, glass, and concrete products... |12/84| 135.7 136.4 136.7 1.6 .2 33 | Primary metal industries.................... |12/84| 116.4 115.2 114.7 -4.6 -.4 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 131.1 131.1 131.0 .3 -.1 35 | Machinery, except electrical................ |12/84| 118.1 117.8 117.7 .1 -.1 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 107.0 106.4 106.5 -1.4 .1 37 | Transportation equipment.................... |12/84| 137.1 137.2 138.5 .1 .9 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 127.2 127.5 127.1 .6 -.3 39 | Miscellaneous manufacturing industries...... |12/85| 132.5 132.6 132.6 1.2 0 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 104.0 104.3 108.2 4.8 3.7 42 | Motor freight transportation and warehousing |06/93| 123.1 123.6 123.8 2.0 .2 43 | United States Postal Service................ |06/89| 141.3 145.4 145.4 7.5 0 44 | Water transportation........................ |12/92| 129.2 140.9 134.0 5.9 -4.9 45 | Transportation by air....................... |12/92| 157.6 158.6 159.8 4.8 .8 46 | Pipe lines, except natural gas.............. |12/86| 109.0 111.3 111.5 8.6 .2 54 | Food stores................................. |12/99| 109.0 109.5 117.0 13.8 6.8 59 | Miscellaneous retail........................ |06/00| 101.0 99.8 100.7 3.6 .9 80 | Health services............................. |12/94| 116.2 116.7 117.0 2.7 .3 81 | Legal services.............................. |12/96| 117.8 118.3 118.5 3.9 .2 __________________________________________________________________________________________________________________ 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 June 2001 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. Table 5. Producer price indexes by stage of processing, seasonally adjusted (1982=100) _____________________________________________________________________________________________________________ | | Index 1/ |_____________________________________________________ Grouping | | | | | | | May | June | July | Aug. | Sep. | Oct. | 2001 | 2001 | 2001 | 2001 | 2001 | 2001 _______________________________________________________|________|________|________|________|________|________ | Finished goods...................................| 142.4 141.9 140.4 140.9 141.4 139.1 Finished consumer goods........................| 143.8 143.0 140.9 141.6 142.2 139.5 Finished consumer foods......................| 142.0 141.7 140.9 142.1 142.4 141.8 Crude......................................| 131.1 124.7 113.5 120.9 124.9 121.1 Processed..................................| 142.8 143.1 143.1 143.8 143.8 143.4 Finished consumer goods, excluding foods.....| 144.4 143.4 140.7 141.1 141.9 138.3 Nondurable goods less foods................| 147.1 145.7 141.8 142.3 143.1 138.8 Durable goods..............................| 133.9 133.9 134.1 134.3 135.0 133.2 Capital equipment..............................| 139.5 139.7 140.2 140.1 140.3 139.3 Manufacturing industries.....................| 140.3 140.4 140.6 140.7 140.6 140.1 Nonmanufacturing industries..................| 139.2 139.4 140.0 139.8 140.1 138.9 | Intermediate materials, supplies, and components.| 131.3 131.1 129.8 129.3 129.4 127.4 Materials and components for manufacturing.....| 128.5 128.2 127.5 126.9 126.6 126.0 Materials for food manufacturing.............| 124.7 125.5 125.7 127.4 127.1 126.2 Materials for nondurable manufacturing.......| 133.9 132.9 131.8 130.1 130.0 128.8 Materials for durable manufacturing..........| 126.6 126.3 125.3 124.6 124.3 123.5 Components for manufacturing.................| 126.5 126.5 126.3 126.2 125.9 126.0 Materials and components for construction......| 151.4 151.6 150.9 150.9 150.8 150.4 Processed fuels and lubricants.................| 109.7 109.0 104.4 103.4 104.4 96.4 Manufacturing industries ....................| 108.1 109.3 106.2 104.6 105.2 100.9 Nonmanufacturing industries..................| 110.1 108.4 103.1 102.4 103.7 93.6 Containers.....................................| 153.8 154.0 153.6 153.2 153.0 152.4 Supplies.......................................| 138.6 138.8 138.8 138.7 138.6 138.3 Manufacturing industries.....................| 145.9 145.8 145.7 145.2 145.0 144.9 Nonmanufacturing industries..................| 135.6 135.9 135.8 135.9 135.8 135.5 Feeds......................................| 93.1 95.1 96.8 99.8 98.8 97.5 Other supplies.............................| 140.7 140.8 140.6 140.3 140.4 140.1 | Crude materials for further processing...........| 130.1 119.6 115.4 112.7 108.1 98.3 Foodstuffs and feedstuffs......................| 107.6 107.6 108.1 107.5 108.7 105.9 Nonfood materials..............................| 141.0 123.6 116.3 112.3 103.8 89.5 Nonfood materials except fuel 2/.............| 107.3 106.2 104.2 103.4 103.6 93.2 Manufacturing 2/...........................| 98.7 97.6 95.7 95.0 95.1 85.3 Construction...............................| 182.9 184.7 183.4 182.5 182.6 180.1 Crude fuel 3/................................| 175.9 137.5 123.5 115.5 95.8 77.2 Manufacturing industries...................| 173.7 136.2 121.2 113.7 93.9 74.4 Nonmanufacturing industries................| 179.2 140.0 126.0 117.7 97.6 78.8 | Special groupings | | Finished goods, excluding foods..................| 142.5 141.8 140.1 140.4 140.9 138.2 Intermediate materials less foods and feeds......| 132.2 131.9 130.5 129.9 130.0 128.0 Intermediate foods and feeds.....................| 114.9 116.1 116.8 118.9 118.4 117.4 Crude materials less agricultural products 2/....| 143.7 125.7 118.1 113.6 104.7 90.0 | Finished energy goods............................| 103.7 101.1 94.8 95.8 96.7 89.3 Finished goods less energy.......................| 147.8 147.8 147.7 148.0 148.4 147.6 Finished consumer goods less energy..............| 151.2 151.2 150.8 151.3 151.7 151.0 | Finished goods less foods and energy.............| 150.1 150.2 150.4 150.3 150.7 149.9 Finished consumer goods less foods and energy....| 157.1 157.2 157.2 157.1 157.7 157.0 Consumer nondurable goods less foods and energy..| 175.5 175.8 175.5 175.3 175.7 175.9 | Intermediate energy goods........................| 109.2 108.5 104.0 103.0 104.0 96.1 Intermediate materials less energy...............| 135.9 135.8 135.3 134.9 134.7 134.2 Intermediate materials less foods and energy.....| 137.3 137.1 136.5 136.0 135.8 135.3 | Crude energy materials 2/........................| 140.5 118.3 109.0 104.2 93.1 75.2 Crude materials less energy......................| 113.4 113.0 113.2 112.4 113.4 110.8 Crude nonfood materials less energy 3/...........| 131.2 129.8 129.1 128.1 128.3 126.1 ____________________________________________________________________________________________________________ 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 June 2001 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 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 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 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.