| Skip Navigation Links | ||
 |
 |
 |
Producer Price Index News Release textFOR DATA ONLY: (202) 691-5200 USDL 02-131
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 MARCH 15, 2002
Producer Price Indexes -- February 2002
The Producer Price Index for Finished Goods increased 0.2 percent in
February, seasonally adjusted, the Bureau of Labor Statistics of the U.S.
Department of Labor reported today. This rise followed a 0.1-percent
advance in January and a 0.6-percent decrease in December. At the earlier
stages of processing, prices for intermediate goods edged down 0.1 percent
in February, after a similar decline in the prior month, and the crude
goods index turned down 0.8 percent, following a 3.7-percent increase in
January. (See table A.)
Among finished goods, the rate of increase in prices for finished
consumer foods accelerated from 0.8 percent in January to 1.0 percent in
February. Prices for finished energy goods also rose faster in February
than in the prior month -- 0.4 percent compared with 0.1 percent. The
index for finished goods other than foods and energy showed no change,
compared with a 0.1-percent decline in the previous month.
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
Feb. 0.2 0.9 0.5 -0.2 4.0 -0.2 -14.3
Mar. -.2 .6 -2.7 .1 3.0 -.3 -6.9
Apr. .3 .5 .4 .2 3.7 -.2 .6
May .2 0 .5 .2 3.9 .1 -2.0
June -.5 -.4 -2.6 .1 2.6 -.2 -8.1
July -1.2 -.4 -7.3 .1 1.4 -1.1 -5.3
Aug. .4 .7 1.4 0 2.0 -.2 -.7
Sept. .4 .1 1.5 .1 1.6 .1 -4.4
Oct. r -1.3 r -.1 r -6.7 r -.4 r -.3 r -1.3 r -8.8
Nov. r -.6 r -1.0 r -3.2 .1 -1.1 r -.6 r 7.6
Dec. -.6 0 -3.9 0 -1.8 -.8 -9.6
2002
Jan. .1 .8 .1 -.1 -2.6 -.1 3.7
Feb. .2 1.0 .4 0 -2.6 -.1 -.8
r=revised. Some of the figures shown above and elsewhere in this release may differ
from those previously reported because data for October 2001 have been revised to
reflect the availability of late reports and corrections by respondents.
-2-
Before seasonal adjustment, the Producer Price Index for Finished
Goods rose 0.1 percent to stand at 137.7 (1982=100). From February 2001 to
February 2002, prices for finished goods decreased 2.6 percent. Over the
same period, the finished energy goods index dropped 20.4 percent, prices
for finished goods other than foods and energy gained 0.5 percent, and the
index for finished consumer foods increased 1.9 percent. Prices received
by producers of intermediate goods declined 4.4 percent for the 12 months
ended in February, and the crude goods index dropped 30.9 percent during
the same period.
Finished goods
Finished consumer food prices rose 1.0 percent in February, following
a 0.8-percent gain in the prior month. The beef and veal index increased
7.4 percent, after falling 1.4 percent in January. The index for soft
drinks also turned up, compared with a decline in the previous month.
Prices for finfish and shellfish, fresh and dry vegetables, and bakery
products advanced at a faster rate in February than they did a month ago.
Partly offsetting these increases, prices for eggs for fresh use decreased
10.8 percent in February, following a 21.8-percent jump in January. The
indexes for dairy products and for shortening and cooking oils also turned
down in February, after increasing a month earlier. Prices for processed
young chickens showed no change, following a 3.6-percent increase in
January.
The index for finished energy goods advanced 0.4 percent, after
inching up 0.1 percent in January. February's increase in finished energy
goods prices was led by the gasoline index -- which rose 4.5 percent in
February. Price increases for home heating oil and liquefied petroleum gas
also contributed to the advance. On the other hand, prices for residential
natural gas, residential electric power, and diesel fuel fell in February.
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
Feb. -1.0 -2.0 0.1 3.5 -0.9 -23.0 -1.4 28.0
Mar. .1 -2.1 .1 2.3 2.8 -14.0 -1.0 17.1
Apr. -.1 -.6 -.1 2.1 -.2 2.1 -2.6 19.6
May .6 .4 0 2.3 -.8 -3.2 -.5 13.3
June 1.0 -.6 -.1 1.2 0 -15.8 -1.0 -4.0
July .6 -5.0 -.5 -.2 .6 -12.4 1.0 -7.3
Aug. 1.8 -.3 -.3 -.2 -.6 -.5 -1.8 -4.5
Sept. -.8 1.1 -.1 -.8 .8 -11.0 .2 -14.6
Oct. r -.4 r -6.2 -.4 -2.4 r -3.5 r -17.9 -1.5 r -25.1
Nov. r -1.5 r -2.4 -.2 -2.9 r -5.0 r 28.0 -.6 -18.4
Dec. -1.0 -4.0 -.2 -4.0 -1.9 -20.5 -.3 -32.4
2002
Jan. -.1 -.6 0 -4.6 4.0 5.6 -.5 -40.4
Feb. 0 -.7 0 -4.4 2.3 -6.5 1.5 -30.9
r=revised. Some of the figures shown above and elsewhere in this release may
differ from those previously reported because data for October 2001 have been
revised to reflect the availability of late reports and corrections by
respondents.
-3-
The capital equipment index increased 0.1 percent, after edging down
0.1 percent in January. Light motor truck prices rose 0.6 percent in
February, following a 0.6-percent decline a month earlier. Prices for
integrating and measuring instruments also turned up in February. The
indexes for communication and related equipment, heavy motor trucks, and
ships advanced, after showing no change in the previous month. The index
for civilian aircraft posted no change, following a decline in January. By
contrast, electronic computer prices decreased 4.1 percent, after rising
1.5 percent a month ago. The indexes for passenger cars, commercial
furniture, and welding machines and equipment also turned down in February.
Prices for x-ray and electromedical equipment and for industrial molds fell
more quickly than they did in the prior month.
For the second consecutive month, the index for finished consumer
goods other than foods and energy decreased 0.1 percent. Declining prices
for book publishing, sanitary papers and health products, floor coverings,
passenger cars, and household appliances slightly outweighed rising prices
for light motor trucks, pharmaceutical preparations, periodical
circulation, tires, and sporting and athletic goods.
Intermediate goods
For the second straight month, the seasonally adjusted Producer Price
Index for Intermediate Materials, Supplies, and Components inched down at a
0.1-percent rate and the index for intermediate goods less foods and energy
showed no change. In February, falling prices for intermediate energy
goods, components for manufacturing, and construction materials slightly
outweighed rising prices for nondurable manufacturing materials. The
indexes for durable manufacturing materials and intermediate foods and
foods were unchanged in February. (See table B.)
Prices for intermediate energy goods declined at a slightly quicker
pace in February than in the prior month -- down 0.7 percent, after falling
0.6 percent. Among the utility natural gas indexes, industrial natural
gas, commercial natural gas, and natural gas to electric utilities fell in
February. Prices for commercial electric power, industrial electric power,
jet fuels, and diesel fuel also decreased. Partly offsetting these
declines, the indexes for gasoline and liquefied petroleum gas advanced in
February.
The Producer Price Index for Components for Manufacturing inched down
0.1 percent in February, after registering a 0.3-percent increase in
January. Leading this downturn, prices for printed circuit assemblies fell
3.9 percent, following an 11.0-percent jump in the previous month. The
indexes for plastic parts for transportation equipment; unsupported plastic
film, sheet, and shapes; electronic filters, crystals, and transducers; and
for pressed and blown glassware also fell, after rising in the prior month.
Prices for aircraft parts and auxiliary equipment showed no change,
following a January advance. On the other hand, the index for aircraft
engines and engine parts rose 0.8 percent in February, after declining 1.2
percent a month earlier. Prices for tires also turned up in February.
Prices for construction materials edged down 0.1 percent, after rising
0.2 percent in January. The index for plastic construction products fell
1.0 percent in February, following a 0.2-percent gain in the prior month.
Prices for hardwood lumber also turned down in February. The indexes for
softwood lumber and for metal valves (except fluid power) increased less
than they did in the previous month, while February prices for nonferrous
wire and cable declined at a faster pace than they did in January. The
index for asphalt felts and coatings showed no change, after advancing in
the prior month. Conversely, prices for fabricated structural metal
products showed no change, following a 0.3-percent decrease in January.
The plywood index rose at a faster pace in February than it did a month
earlier. Prices for gypsum products and for millwork increased, after
falling in the previous month.
-4-
The index for materials for nondurable manufacturing moved up 0.6
percent in February, following a 1.2-percent drop a month earlier. Prices
for plastic resins and materials rose 2.8 percent, after posting a 4.1-
percent decline in January. The indexes for basic organic chemicals and
for inedible fats and oils also turned up in February. Prices for
medicinal and botanical chemicals and finished fabrics fell less, while
paint materials prices increased more than they did in the prior month. By
contrast, the index for gray fabrics decreased at a faster pace in
February, 2.0 percent, compared with a 0.2-percent rate of decline in the
previous month. Paper prices also fell more in February than they did a
month earlier. The index for fertilizer materials turned down in February.
Subsequent to a 0.1-percent gain in January, prices for materials for
durable manufacturing were unchanged in February. The indexes for cold
rolled steel sheet and strip, plywood, building paper and board, gold,
aluminum mill shapes, semi-finished steel mill products, flat glass, and
cement exhibited rising prices in February. On the other hand, prices for
hot rolled steel sheet and strip, primary aluminum (except extrusion
billet), prepared paint, hardwood lumber, and silver fell in February.
The index for intermediate foods and feeds showed no change in
February, after edging down 0.1 percent in the prior month. February's
rising prices for beef and veal; natural, processed, and imitation cheese;
and sausages and deli meats were offset by falling prices for prepared
animal feeds; crude vegetable oils; fluid milk products; confectionery
materials; dry, condensed, and evaporated milk products; and butter.
Crude goods
The Producer Price Index for Crude Materials for Further Processing
turned down 0.8 percent in February, following a 3.7-percent increase in
January. Prices for crude energy materials also fell in February, after
advancing in the prior month. The crude foodstuffs and feedstuffs index
rose at a slower rate than it did in January. By contrast, prices for
basic industrial materials turned up, after falling in the previous month.
(See table B.)
The index for crude energy materials declined 6.5 percent in February,
after increasing 5.6 percent in January. Natural gas prices dropped 20.7
percent, following a 4.9-percent rise in the prior month. The coal index
turned down 1.6 percent, after advancing 3.2 percent a month earlier. By
contrast, prices for crude petroleum jumped 13.3 percent, following an 8.1-
percent gain in January.
The crude foodstuffs and feedstuffs index increased 2.3 percent in
February, after registering a 4.0-percent gain in January. Rising February
prices for slaughter cattle, fresh vegetables (except potatoes),
unprocessed finfish, fluid milk, and unprocessed shellfish outweighed
decreasing prices for slaughter hogs, fresh fruits and melons, wheat,
slaughter turkeys, alfalfa hay, and soybeans.
The index for crude nonfood materials less energy turned up 1.5
percent in February, after posting a 0.5-percent decline in January.
Prices for iron and steel scrap rose 5.2 percent, following a 0.7-percent
advance in the previous month. The indexes for raw cotton and gold ores
also increased at a faster pace than they did in January. Prices for
pulpwood and iron ore showed no change, after falling in January. The
indexes for softwood logs, bolts, and timber and for construction sand,
gravel, and crushed stone turned up, after declining in the prior month.
On the other hand, aluminum base scrap prices decreased 0.7 percent in
February, following a 0.7-percent gain in the previous month. The indexes
for wastepaper and hardwood logs, bolts, and timber also turned down in
February. Prices for phosphates rose less than they did in January. The
leaf tobacco index declined at a faster rate than it did in the prior
month.
-5-
Net output price indexes for mining, manufacturing, and services industries
Mining. The Producer Price Index for the Net Output of Total Domestic
Mining Industries declined 4.5 percent in February, following a 4.6-percent
advance in January. (Net output price indexes are not seasonally
adjusted.) Accounting for most of the downturn in mining prices, the crude
petroleum, natural gas, and natural gas liquids industry index fell 7.6
percent in February, after posting a 7.0-percent gain in the previous
month. The industry indexes for bituminous coal and lignite surface
mining; bituminous coal underground mining; construction sand and gravel;
and coal mining services also turned down in February. Industry prices for
potash, soda, and borate minerals increased at a slower pace in February
than they did in January. By contrast, the industry index for oil and gas
well drilling fell 1.1 percent in February, following a 3.0-percent decline
in the prior month. Prices for the iron ores industry also declined at a
slower rate in February than they did in January. The gold ores industry
index increased more in February than they did in the previous month. In
February, the Producer Price Index for the Net Output of Total Mining
Industries stood at 77.9 (December 1984 = 100), 47.9 percent below its year-
ago level.
Manufacturing. A 0.2-percent increase in the Producer Price Index for the
Net Output of Total Manufacturing Industries followed a similar rise in
January. Rising prices for the petroleum refining and related products,
food and kindred products, chemicals and allied products, and
transportation equipment industry groups outweighed falling prices for the
machinery, except electrical; rubber and miscellaneous plastic products;
textile mill products; and the paper and allied products industry groups.
In February, the Producer Price Index for the Net Output of Total
Manufacturing Industries stood at 132.0 (December 1984 = 100), 2.1 percent
lower than a year ago.
Services. Among service industries in February, engineering design,
analysis, and consulting services; passenger car rental; operators and
lessors of nonresidential buildings; help supply services; and courier
services, except by air, posted rising prices. Alternatively, falling
prices were registered by the industries for data processing services;
prepackaged software; telephone communications, except radiotelephone;
travel agencies; railroads, line-haul operating; advertising agencies; and
for truck rental and leasing.
*****
Producer Price Index data for March 2002 will be
released on Friday, April 12, 2002 at 8:30 a.m. (E.D.T.)
Table of Contents |
|
| |
|
U.S. Bureau of Labor
Statistics Producer Price Index Suite 3840 2 Massachusetts Ave., NE Washington, DC 20212-0001 |
URL: http://www.bls.gov/ppi/home.htm |