PPI Detailed Report - FRASER · Alexis M. Herman, Secretary Data for January 1999 BUREAU OF LABOR...

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PPI Detailed Report Data for January 1999 U.S. Department of Labor Bureau of Labor Statistics Manufacturing Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

Transcript of PPI Detailed Report - FRASER · Alexis M. Herman, Secretary Data for January 1999 BUREAU OF LABOR...

  • PPI Detailed Report

    Data for January 1999U.S. Department of Labor Bureau of Labor Statistics

    ManufacturingDigitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

  • U.S. DEPARTMENT OF LABOR Alexis M. Herman, Secretary

    Data for January 1999BUREAU OF LABOR STATISTICS Katharine G. Abraham, Commissioner

    PPI Detailed Report (USPS 485-050) is a monthly report on producer price movements including text, tables, and technical notes. An annual supplement contains monthly data for the calendar year, annual averages, and information on weights.

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    Material in this publication is in the public domain, and with appropriate credit, may be reproduced without permission. This informatin is available to sensory impaired individuals upon request. Voice phone: (202) 606-7828; TDD phone: (202) 606-5897; Federal Relay Service: 1-800-877-8339. Data on the PPI can also be accessed through the PPI homepage http://stats.bls.gov/ppihome.htm. Periodicals postage paid at Washington, DC and at additional mailing offices.

    March 1999

    ISSN 0882-5270

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    http://stats.bls.gov/ppihome.htm

  • PPI Detailed Report Data for January 1999Editors

    William D. Thomas Monica Gabor Joseph Kowal

    Visual Information Specialist Dorothy Williams

    Contents PasePrice movements, January 1999..................................................................................................................... ............... 1Charts................................................................. ............................................................... .............................................. 4Resampling of industries............................................... ................................................................................................ 7Recalculation of seasonal adjustment factors.................................................................................. ......................... 8New producer price index for the life insurance industry—SIC 6311................ ................................................. 9Supplemental sampling in the PPI prepackaged software index—SIC 7372...................................................... 10

    Tables

    Producer Price Indexes

    1. Stage of processing..... ............................................................................................. ............................................ n

    2. Selected commodity groupings by stage of processing............... ...................................................................... 12

    3. Selected stage-of-processing groupings, seasonally adjusted........................................................................... 15

    4. Net output of major industry groups...................... ............................................................................................. 16

    5. Net output of selected industries and their products......................................................................... ................ 17

    6. Commodity groupings and individual items....................................................................................................... 145

    7. Durability of product............................................................................................................................................. 186

    8. Special commodity groupings....................................................................................................... ...................... 187

    9. Material inputs to construction industries............. ......... .................................................................................... 188

    10. Net output of industry by stage of process.......................................................................................................... 189

    11. Net material inputs to industry stage of process and final demand.................................................................... 190

    12. Industry and industry-classified product indexes recoded, effective January 1999........................................ 191

    13. New industry and industry-classified product indexes introduced into the Producer Price Index,effective January 1999................................................. ..................................................................................... 192

    14. Industry and industry-classified product indexes deleted from the Producer Price Index,effective January 1999..................................................................................................... ................................. 193

    15. Commodity price indexes deleted from the Producer Price Index,effective January 1999...................................................................................................................................... 199

    16. New commodity price indexes based on the movement of corresponding industry-based product

    price indexes, effective January 1999............................................ ................................................................ 200

    17. Commodity price indexes based on the movement of corresponding industry-based product

    price indexes, effective January 1999...................... ................................................................... ................... 201

    18. Commodity-grouping price indexes introduced into the Producer Price Index, effective January 1999 ...... 202

    Technical notes.............................. .............................................. ................................................................................... 203

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  • Scheduled Release DatesP r o d u c e r P r ic e I n d e x d a t a a r e s c h e d u le d f o r i n i t i a l r e le a s e o n th e f o l l o w i n g d a te s :

    In d e x m o n th R e le a s e da te In d e x m o n th R e le a s e d a te

    F e b r u a r y M a r c h 1 2 M a y J u n e 11

    M a r c h A p r i l 9 J u n e J u ly 1 4

    A p r i l M a y 13 J u ly A u g u s t 13

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  • T he Producer Price Index for Finished Goods advanced 0.5 percent in January, seasonally adjusted. This increase

    followed a 0.4-percent advance in December and a 0.2- percent decline in November. Prices received by producers of intermediate goods increased 0.1 percent, following a 0.5- percent decline in the prior month. The crude goods index rose 2.6 percent, after registering a 4.0-percent drop a month earlier. (See table A.)

    Among finished goods, rising prices for finished consumer foods and finished energy goods outweighed falling prices for finished consumer goods other than foods and energy and capital equipment. The index for finished goods excluding foods and energy fell 0.1 percent in January, after posting a 1.0-percent rise in December.

    Before seasonal adjustment, the Producer Price Index for Finished Goods advanced 0.4 percent to stand at 131.5 (1982=100). From January 1998 to January 1999, the finished goods price index increased 0.9 percent. Over the same period, prices for finished consumer foods rose 1.9 percent, the index for finished energy goods fell 7.5 percent, and prices for finished goods other than foods and energy advanced 2.3 percent. Prices received by domestic producers of intermedi

    ate goods declined 2.4 percent for the 12 months ended in January, and the index for crude goods fell 10.6 percent during the same period.

    Finished goods

    The index for finished consumer foods advanced 1.6 percent in January, after

    V V showing no change in December. Prices■'w ,J-,„ / | for pork increased 18.3 percent, following % V s y tj a 4.5-percent decrease in the previous

    'T J month. The index for citrus fruit advanced64.0 percent, after moving up 13.6 percent

    in the prior month. Prices for dairy products rose more than a month ago. The indexes for beef and veal, finfish and shellfish, and eggs for fresh use turned up, after decreasing a month earlier. By contrast, the index for fresh and dry vegetables declined 9.8 percent, following a 10.8-percent advance in the prior month. Prices for soft drinks and for shortening and cooking oils fell, after rising last month.

    The index for finished energy goods advanced 1.8 percent in January, after posting a 2.3-percent decline in December.

    Table A. Monthly and annual percent changes in selected stage-of-processing price indexes, seasonally adjusted1

    Finished goods

    Month

    Total Foods EnergyExcept foods and energy

    Change in finished goods

    from 12 months ago (unadj.)

    Intermediategoods

    Crudegoods

    1998January...................................................................... -0.6 -0.3 -3.7 0.0 -1.7 -0.7 -5.6February..................................................................... -.1 .3 -1.4 .1 -1.5 -.2 -1.9M arch......................................................................... 0 -.2 -2.2 .5 -1.5 -.3 -1.4A p ril........ ...... ............................................................ .2 .4 -.4 .1 -.9 0 1.3M ay ............................................................................. -.1 -.5 .4 .1 -.8 -.1 -.6June............................................................................ -.2 -.1 -.8 -.1 -.7 -.3 -2,7J u ly ............................................................................. .2 .5 -.1 .2 - 2 0 .1August....................................................................... -.3 -.3 -1.9 0 -.8 -.3 -4.2Septem ber................................................................ .2 .2 -.4 .3 -.9 -.3 -1.8October...................................................................... .2 .4 1.1 0 -.7 -.2 2.4November................................................................... -.2 -.4 -1.5 .1 -.7 -.2 -.7December................................................................... .4 0 -2.3 1.0 -.1 -.5 -4.0

    1999January...................................................................... .5 1.6 1.8 -.1 .9 .1 2.6

    1 Some percent changes shown here and elsewhere in "Price Movements corrections by respondents. All indexes are subject to revision 4 months after January 1999" may differ from those previously reported, because indexes original publication, for September 1998 have been recalculated to incorporate late reports and

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  • Table B. Monthly and annual percent changes in selected price indexes for intermediate goods and crude goods, seasonallyadjusted1

    Month

    Intermediate goods Crude goods

    Foods EnergyExcept foods

    and energy

    Change in intermediate goods from 12 months

    ago (unadj.)

    Foods Energy(unadj.)

    Except foods

    and energy

    Change in crude

    goods from 12 months

    ago (unadj.)

    1998January...................................................................... -3.4 -3.0 -0.1 -1.7 -3.0 -11.2 -1.7 -19.5February..................................................................... -.3 -1.3 -.1 -1.8 -.7 -4.3 -.2 -13.8March.......................................................................... -1.3 -2.0 0 -1.8 -.3 -2.9 -1.4 -7.6April.............................................................................. -.9 .2 0 -1.6 .3 4.5 -1.2 -7.0M ay .............................................................................. .3 .2 -.1 -1.5 -1.5 0 .1 -9.0June............................................................................ -.6 -1.1 -.1 -1.8 .4 -8.0 -.4 -8.9Ju ly .............................................................................. .4 0 -.1 -1.6 -3.4 6.0 -1.5 -8.4August......................................................................... -.4 -1.5 -.1 -2.1 -1.1 -9.0 -2.8 -12.3September.................................................................. -.9 -.5 -.3 -2.5 -.9 -3.6 -1.2 -15.1October...................................................................... -.4 .8 -.2 -2.5 2.9 5.1 -2.7 -16.7November................................................................... .5 -1.0 -.2 -2.9 -.3 0 -2.7 -19.0December................................................................... -.6 -3.2 -.2 -3.1 -4.1 -5.2 -1.6 -17.6

    1999January...................................................................... 1.1 1.8 -.2 -2.4 5.1 .6 .2 -10.6

    1 Some percent changes shown here and elsewhere in "Price Movements January 1999" may differ from those previously reported, because indexes for September 1998 have been recalculated to incorporate late reports and

    Prices for gasoline increased 6.5 percent, following an 8.5- percent decrease a month earlier. The indexes for residential electric power, home heating oil, and finished lubricants also rose, after falling a month ago. Prices for residential natural gas increased more than in the prior month.

    The index for finished consumer goods other than foods and energy declined 0.1 percent in January, after registering a 1.8-percent advance in December. Price decreases for passenger cars, floor coverings, tires, periodical circulation, and men’s and boys’ apparel slightly outweighed price increases for prescription drugs, book publishing, sanitary papers and health products, and newspaper circulation.

    Prices for capital equipment declined 0.1 percent in January, after showing no change in December. Falling prices for electronic computers, construction machinery and equipment, office and store machines and equipment, truck trailers, andoil and gas field machinery and equipment outweighed rising prices for civilian aircraft, light motor trucks, communication and related equipment, and commercial furniture.

    Intermediate goods

    The Producer Price Index for Intermediate Materials, Supplies, and Components edged up 0.1 percent in January, seasonally adjusted, after registering a 0.5- percent decline in December. Price indexes for both intermediate energy goods and intermediate foods and feeds turned

    up, following decreases a month ago. Prices for nondurable manufacturing materials fell less than in December. On the other hand, the index for durable manufacturing materials

    corrections by respondents. All indexes are subject to revision 4 months after original publication.

    fell slightly more than in the previous month. Prices for construction materials edged up 0.1 percent for the second consecutive month. Excluding foods and energy, the index for intermediate materials fell 0.2 percent in January, the same as in the previous month. (See table B.)

    The index for intermediate energy goods rose 1.8 percent in January, after posting a 3.2-percent decline in December. In January, gasoline prices turned up 6.5 percent, after falling 8.5 percent in the previous month. The index for jet fuels similarly increased 7.5 percent, following a 19.9-percent decrease a month earlier. Prices for diesel fuel, electric power, and utility natural gas also rose, after declining in the previous month. Price declines slowed for both liquefied petroleum gas and residual gas.

    Prices for intermediate foods and feeds rose 1.1 percent, after posting a 0.6-percent decline in December. The index for pork turned up 18.3 percent, following a 4.5-percent decrease in the previous month. Prices for crude vegetable oils and for beef and veal also increased, after falling a month ago. The indexes for fluid milk products and confectionery materials rose more than in the prior month. By contrast, prices for refined sugar turned down 1.0 percent, after a 0.1 -percent rise in December. The indexes for natural, processed, and imitation cheese and for condensed and evaporated milk products rose less than in the previous month.

    The index for nondurable manufacturing materials moved down 0.1 percent in January, after posting a 0.4-percent decline in December. Price declines for industrial chemicals, synthetic fibers, gray fabrics, plastic resins and materials, and paper slightly outweighed price increases for medicinal and botanical chemicals, woodpulp, and paperboard.

    The index for durable manufacturing materials decreased

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  • 0.6 percent in January, after registering a 0.5-percent decrease in December. In January, price declines for steel mill products, flat glass, aluminum mill shapes, copper, and hardwoodlumber more than offset price advances for silver, cement, plywood, and platinum.

    In January, prices for materials and components for construction increased 0.1 percent, the same as in December. Price increases for softwood lumber, gypsum products, wiring devices, cement, plastic construction products, metal valves, and plumbing fixtures slightly outweighed price declines for fabricated structural metal products, nonferrous wire and cable, steel wire, and air conditioning and refrigeration equipment.

    Crude goods

    The Producer Price Index for Crude Materials for Further Processing turned up 2.6 percent in January, seasonally adjusted, following a 4.0-percent drop in December. Prices for crude foodstuffs and feedstuffs, crude energy materials, and basic industrial materials also rose,

    after falling in the prior month. (See table B.)Prices for crude foodstuffs and feedstuffs advanced 5.1

    percent, following a 4.1 -percent decline in December. The index for slaughter hogs gained 188.6 percent, after a 46.5- percent decrease in the previous month. Prices for slaughter cattle, unprocessed finfish, and wheat also increased, after falling a month ago. The index for fresh fruits and melons rose more than in the prior month. By contrast, prices for fluid milk turned down 0.8 percent, following a 2.8-percent gain in December. The indexes for fresh and dry vegetables and corn also fell after rising last month. Prices for slaughter broilers and fryers and for slaughter turkeys fell more than in December.

    The index for crude energy rose 0.6 percent, following a 5.2-percent decline in the previous month. Prices for crude petroleum rose 16.5 percent, after a 20.2-percent drop a month ago. The index for coal also turned up, following a decline in the prior month. On the other hand, prices for natural gas turned down 7.0 percent, after a 0.5-percent rise in December.

    Prices for crude nonfood materials less energy increased 0.2 percent, after dropping 1.6 percent last month. Iron and steel scrap prices advanced 6.2 percent, following a 0.7-percent gain in the previous month. The indexes for waste paper and copper ores rose, after falling in the prior month. Prices for raw cotton, copper base scrap, pulpwood, and aluminum base scrap fell less than a month ago. By contrast, the index for cattle hides increased 0.3 percent, following a 9.7-percent gain in December. Prices for gold ores; construction sand, gravel, and crushed stone; and softwood logs, bolts, and timber turned down, after rising in the previous month.

    Net output price indexes for mining, manufacturing, and other industriesMining. The Producer Price Index for the Net Output of Total Mining Industries fell 0.5 percent in January, following a 3.8- percent decline in December. (Net output price indexes are not seasonally adjusted.) In January, prices for the oil and gas extraction industry group moved down 1.0 percent, after showing a 5.0-percent decrease in the prior month. The index for the coal mining industry group turned up 1.4 percent, following a 1.0-percent decrease in December. The metal mining industry group index declined 1.3 percent, after falling 3.2 percent in the month before. The index for the non-metal lie mineral mining industry group turned up 0.2 percent, following a 0.2-percent decrease in the pre-vious month. In January, the Producer Price Index for the Net Output of Total Mining Industries stood at 65.0 (December 1984=1000,14.9 percent below its year-ago level.

    Manufacturing. The Producer Price Index for the Net Output of Total Manufacturing Industries increased 0.4 percent in January, after decreasing 0.3 percent in December. The index for the petroleum refining and related products industry group rose 5.4 percent, following a 11.3-percent decline in December. Prices for the food and kindred products industry group; printing and publishing industry group; and the chemical and allied products industry group also advanced, following declines last month. The index for the transportation industry group fell less than a month ago. By contrast, the index for tobacco manufactures rose 0.1 percent, following the a 27.4-percent jump in the prior month. In January, the Producer Price Index for the Net Output of Total Manufacturing Industries stood at 126.3 (December 1984= 100), 0.1 percent below its year-ago level.

    Other Among other industries in January, prices for operators and lessors of nonresidential buildings rose 1.1 percent, after falling 2.1 percent in the previous month. Indexes for passenger car rental, without drivers; travel agencies; and hotels and motels also turned up, after declining a month earlier. Prices for offices and clinics of doctors of medicine and scheduled air transportation rose more than in December. The indexes for property and casualty insurance, the United States Postal Service, and general medical and surgical hospitals advanced, after showing no change a month ago. Prices for telephone communications, except radiotelephone, fell less than last month.

    By contrast, the index for radio broadcasting decreased 2.3 percent in January, after rising 0.3 percent in December. Prices for airports, flying fields, and airport services; freight transportation arrangement; and deep-sea domestic transportation of freight turned down, following an increase in the previous month. The indexes for home health care services and crude petroleum pipelines declined, after showing no change in the prior month.

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  • Chart 1. Finished goods and its components, January 1989 through January 1999, 3-month seasonally adjusted annual rates of change

    Percent change

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  • Chart 2. Intermediate goods and its components, January 1989 through January 1999, 3-month seasonally adjusted annual rates of change

    P e rc e n t c h a n g e

    2 0

    15-

    1 0

    0

    -5

    Panel A .

    A In te irm e d ia te m a te r ia ls , s u p p lie s , a r id c o m p o n e n ts '

    V / 1 1/ V \ / \ s ^ 1 \ v i \ y \ J \ J \ 1

    .1_____ ____ __ 1_________________ L... „ _________ 1_________________ J______________ J _____________ __ -J------ ---- ...L. ------------------- J-----------------------X.- 1 0

    1 2

    1 0

    8

    6

    4

    2

    0

    Panel B : :

    In te rm e d ia te m a te r ia ls ¡less fo o d s a n d e n e rg y H

    \

    iI

    i

    \ k i 7 .......... i \ y ^ / i \ / i

    -...................-.............J...................................1....................................1.......-............... -.......1..........................- ..-*--1— - .....................

    1 1 . / VI V y . 1

    _________________ \______ __________ J___ ____________ L ______ __JL

    - 2 1

    -4

    1989 1990 1991 1992 1993 1994 1995 1996 1997 1998 1999

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  • Chart 3. Crude goods for further processing and its components, January 1989 through January 1999, 3-month seasonally adjusted annual rates of change

    Percent change

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  • Resampling of Industries

    E ffective with this report, another set o f new and resampled industries is introduced. One mining, 33

    manufacturing, and 7 service industries were resampled this month. In addition, a service industry, life insurance carries, was introduced into the PPI sample for the first time. Indexes for these industries appear in table 5.

    StandardIndustrialClassification(SIC) code Industry

    1474 Potash, soda, and borate minerals2024 Ice cream and frozen desserts2034 Dried and dehydrated fruits, vegetables

    and soup mixes2038 Frozen specialties, not elsewhere classified2047 Dog and cat food2052 Cookies and crackers2074 Cottonseed oil mill products2076 Vegetable oil mills, not elsewhere classified2084 Wines, brandy, and brandy spirits2273 Carpet and rugs2331 Women’s, misses’, and juniors’ blouses and

    shirts2335 Women’s, misses’, and juniors’ dresses2337 Women’s, misses’, and juniors’ suits and

    coats2339 Women’s, misses’, and juniors’ outerwear,

    not elsewhere classified2491 Wood preserving2821 Plastic materials and resins

    3161 Luggage3171 Women’s and children’s handbags and

    purses3172 Personal leather goods, except women’s

    handbags and purses3357 Nonferrous wiredrawing and insulating3399 Primary metal products, not elsewhere

    classified3491 Industrial valves3492 Fluid power valves and hose fittings

    Under the resampling procedure, the sample for an industry is updated to reflect changes in structure, membership, technology, or product mix of an industry. The Bureau of Labor Statistics published the first results of this systematic process in July 1986. Subsequent efforts have been completed at 6-month intervals.

    StandardIndustrialClassification(SIC) code Industry

    3494 Values and pipe fitting, not elsewhere classified

    3563 Air and gas compressors3751 Motorcycles, bicycles, and parts3821 Laboratory apparatus and furniture3827 Optical instruments and lenses3829 Measuring and controlling devices, not else

    where classified3911 Jewelry, precious metal3915 Jewelers’ materials and lapidary work3949 Sporting and athletic goods, not elsewhere

    classified3961 Costume jewelry and costume novelities3999 Manufacturing industries, not elsewhere

    classified

    4222 Refrigerated warehousing and storage4432 Freight transportation on the Great Lake/St.

    Lawrence Seaway4491 Marine cargo handling4513 Air courier services

    6311 Life insurance carriers*7513 Truck rental and leasing7514 Passenger car rental8071 Medical laboratories

    For information on specific additions, deletions, and recodes of indexes that are effective this month, see tables12 through 18.

    *See “New Producer Price Index for the Life Insurance Industry - SIC 6311” on page 9.

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  • Recalculation of Seasonal Adjustment Factors

    E ffective with this report, seasonal adjustment factors have been recalculated to reflect 1998 price movement

    patterns for stage-of-processing (SOP) and commodity groupings. This routine annual recalculation can affect seasonally adjusted indexes and percent changes from January 1994 to the present. Revised seasonally adjusted data for this period, as well as seasonal factors for commodity

    indexes to be used through December 1999, are available, on request, from BLS. The table below shows 1998 monthly seasonally adjusted percent changes for the three major SOP categories calculated with the old seasonal factors, compared with the percent changes for recalculated indexes. The latter incorporate new seasonal factors that reflect 1998 price movement patterns.

    Table C. Over-the-month percent changes in major stage-of-processing indexes, seasonally adjusted, using former and recalculated seasonal factors for 1998

    MonthFinished goods Intermediate goods Crude goods

    Former Recalculated Former Recalculated Former Recalculated

    January............................ -0.6 -0.6 -0.6 -0.7 -5.8 -5.6February............................ -.1 -.1 -.3 -.2 -1.9 -1.9March.............................. . -.1 0 -.4 -.3 -1.2 -1.4April.................................. .2 .2 .1 0 1.3 1.3May.................................. .1 -.1 -.1 -.1 -.4 -.6June................................. -.2 -.2 -.3 -.3 -2.6 -2.7July................ .................. .2 .2 0 0 .1 .1August.............................. -.3 -.3 -.3 -.3 -4.0 -4.2September......................... .2 .2 -.2 -.3 -1.3 -1.8October............................ .2 .2 -.2 -.2 1.7 2.4November.......................... -.2 -.2 -.2 -.2 -1.4 -.7December.......................... .4 .4 -.6 -.5 -3.8 -4.0

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  • New Producer Price Index for the Life Insurance Industry—SIC 6311

    Michael C. Kirk

    A s part of an ongoing effort by the Bureau of Labor Statistics (BLS) program to expand the Producer Price

    Index (PPI) coverage of the service sector of the U.S. economy, a new price index for the insurance industry was introduced into the PPI in January 1999. This index, SIC 6311- Life Insurance, appears in table 5 of this publication and is available online via the BLS homepage http:// stats.bls.gov.

    The index for life insurance measures changes in the revenue received by insurance companies that sell life insurance policies and annuities. Each month, insurance company actuaries provide price data for both individual and group lines of life insurance, as well as for annuities. These policies may be personal or commercial.

    The life insurance lines for which price indexes are available include:

    Term life insurance Whole life insurance Universal life insurance Group life insurance Variable deferred annuities Fixed rate deferred annuities Immediate annuities

    Price movements for the SIC 6311 index are based on changes in the amount of revenue an insurer receives for providing insurance policies and annuities. The price of an insurance policy can be calculated by using one of two methods, depending on the type of policy. For term, whole, adjustable, credit, and group life, the price includes the premium revenue for a particular policy plus the amount of invest-

    Michael Kirk is an economist in the Services Branch of the Division of Industrial Prices and Price Indexes.

    ment income the insurer gains from the invested portion of the premium. Investment income is included, because it is part of the compensation insurers receive for providing risk protection. Often, investment income influences premium cost. In addition, the price includes a deduction for any dividend paid to the policyholder during the policy period.

    For universal and variable policies, premiums are not used as the price, because there is no relationship between the premium paid by the policyholder and the revenue received by the insurance company. These premiums reflect only the investment objectives of the policyholder. The price is measured by the sum of the total fees received for providing the policy. These fees can include premium expense charges, cost of insurance, mortality and expense risk charges, rider charges, investment advisory or management fees, and expense charges. Again, investment income is included as part of the compensation to insurers.

    Prices for annuities are measured by fees and interest. Depending on the type of annuity, fees can include mortality and expense risk charges, administrative charges, advisory fees, and interest spread.

    Insurance indexes are generated from policies whereby policy characteristics have been held constant or “fixed.” In particular, policy characteristics are frozen immediately after the initial data collection. However, a few characteristics, such as the face amount of a life insurance policy or account value of an annuity are adjusted to reflect the time value of money.

    This adjustment is performed to ensure a constant level of quality for each policy included in the index, providing for price movement that is reflective of inflation only.

    For further information on SIC 6311, contact Michael C. Kirk at (202) 606-7694, extension 310. Mr. Kirk can also be reached by e-mail [email protected].

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  • Supplemental Sampling in the PPI Prepackaged Software Index—SIC 7372

    Brent Hill

    C ertain industries are characterized by frequent introduction of new products. The Producer Price Index (PPI)

    program has instituted sampling augmentation initiatives for several of these types of industries to accurately reflect price movement. The software-industry indexes were first pub- ished in January 1998 and incorporated procedures to supplement the item sample with new products.

    When the original survey data were collected for prepackaged software, the number of software products requested from respondents was reduced to accommodate the later addition of new products. For the supplemental sample, new product data were requested from selected current respondents. The September 1998 Retail Software Report by PC Data, Inc., was used to target products to supplement the sample. These additional products were selected based on the monthly dollars received for the product and the date the software first appeared. This procedure was used to ensure that new, revenue-generating software products were selected.

    Brent Hill is an economist in the Services Branch of the Division of the Industrial Prices and Price Indexes.

    New proportions for item weights within a company were derived from current revenue figures provided by the respondent, except when the September dollar figures were available from PC Data, Inc. New products were added in published indexes where a producer already had existing products. In the published index, existing item weights were apportioned between existing items and new items. Therefore, this procedure did not alter a producer’s weight, keeping the overall weight of the published index the same. Because items being introduced will, in time, replace the originally collected products within a company, the “market share” (represented by the revenue dollars from PC Data) of old and new items will be adjusted once a year; and, eventually, the old items will be dropped from the sample.

    At the time of this writing, the effect of the supplemental sample on the PPI for prepackaged software is unknown. Although no formal schedule has been determined, BLS plans to add further supplemental samples throughout the life of this index.

    For further information on this index, contact Brent Hill at (202) 606-7750, extension 308, or e-mail him at [email protected].

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    mailto:[email protected]

  • Table 1. Producer price indexes and percent changes by stage of processing

    (1 982= 100 )

    Grouping

    Relativeimportance

    Dec.19981

    Unadjusted indexUnadjusted

    percent change to Jan. 1999 from :

    Seasonally adjusted percent change from:

    Sep.19982

    Dec.19982

    Jan.19992

    Jan.1998

    Dec.1998

    Oct.to

    Nov.

    Nov.to

    Dec.

    Dec.to

    Jan.

    Finished goods................................................................................................ 100.000 130.6 131.0 131.5 0.9 0.4 -0 .2 0.4 0.5Finished consumer g o o d s ....................................................................... 74.764 129.1 129.3 130.0 1.3 .5 -.3 .5 .8

    Finished consumer foods..................................................................... 23.289 135.4 134.3 135.6 1.9 1.0 -.4 0 1.6Crude ...................................................................................................... 1.693 127.1 128.5 133.4 5.0 3.8 -5 .5 2.3 7.5Processed .............................................................................................. 21.596 136.0 134.8 135.7 1.6 .7 -.1 -.1 1.2

    Finished consumer goods, excluding fo o d s ................................... 51.475 126.3 126.9 127.5 1.1 .5 -.2 .8 .4Nondurable goods less fo o d s ......................................................... 35.162 122.8 122.4 123.4 1.6 .8 -.5 1.2 .6Durable g o o d s ...................................................................................... 16.313 131.0 133.8 133.4 .0 -.3 0 0 -.3

    Capital equipm ent...................................................................................... 25.236 136.7 137.8 137.7 -.1 -.1 .1 0 -.1Manufacturing industries...................................................................... 6.615 137.8 138.1 138.2 .2 .1 .1 0 0Nonmanufacturing industries............................................................... 18.621 136.2 137.6 137.5 -.3 -.1 .1 0 -.2

    Intermediate materials, supplies and components.............................. 100.000 122.9 121.1 121.2 -2 .4 .1 -.2 -.5 .1Materials and components for manufacturing.................................. 47.742 125.5 124.3 124.2 -2 .6 -.1 -.3 -.3 -.1

    Materials for food manufacturing....................................................... 3.626 125.1 123.9 124.6 3.9 .6 .1 - .9 1.3Materials for nondurable manufacturing................................. ........ 15.762 125.0 123.7 123.5 -4 .9 k 2 - .6 -.4 -.1Materials for durable manufacturing................................................. 10.444 127.2 124.7 124.1 -4 .9 -.5 -.6 -.5 -.6Components for manufacturing.......................................................... 17.910 125.8 125.8 125.7 -.2 -.1 -.1 .1 -.1

    Materials and components for construction....................................... 13.989 147.3 146.6 146.8 .3 .1 0 .1 .1Processed fuels and lubricants.............................................................. 11.868 82.3 76.0 76.9 -7 .7 1.2 -1 .0 —3.0 1.6

    Manufacturing industries...................................................................... 4.597 87.2 82.2 82.7 -5.1 .6 .1 -2 .0 .8Nonmanufacturing industries............................................................... 7.271 79.3 72.3 73.5 -9.1 1.7 -1 .7 -3 .8 2.0

    Containers.................................................................................................... 3.880 140.6 138.8 138.7 -1 .9 -.1 -.4 -.6 -.1Supplies........................................................................................................ 22.521 134.3 134.3 134.2 -1 .0 -.1 .1 0 -.1

    Manufacturing industries...................................................................... 5.122 140.6 140.6 140.3 -.1 -.2 0 0 -.3Nonmanufacturing industries............. ............................................ . 17.399 131.6 131.5 131.5 -1 .3 0 .2 .1 -.2

    Feeds ....................................................................................................... 1.231 92.9 92.5 93.0 -19.5 .5 2.0 .1 .5Other supplies....................................................................................... 16.168 136.2 136.2 136.2 .5 0 0 0 -.1

    Crude materials for further processing.................................. ................ 100.000 92.1 88.8 90.9 -10.6 2.4 -.7 -4 .0 2.6Foodstuffs and feedstuffs....................................................................... 45.600 101.3 97.2 101.6 -3 .7 4.5 -.3 -4.1 5.1Nonfood m ateria ls ..................................................................................... 54.400 82.5 79.8 80.3 -15.8 .6 -1.1 -3 .8 .5

    Nonfood materials except fuel3 .......................................................... 29.494 82.9 72.4 75.4 -18.9 4.1 -4 .0 -6 .6 3.9Manufacturing3 ...................................................................................... 27.957 75.3 65.3 68.1 -19.6 4.3 -4 .2 -7 .0 4.1Construction.......................................................................................... 1.537 191.7 190.0 191.2 -4 .9 .6 -.6 .6 -.9

    Crude fuel4 ................................................................................................ 24.906 75.3 83.7 80.6 -11.5 -3 .7 2.8 -.2 -3 .7Manufacturing industries................................................................... 2.071 74.3 81.9 77.5 -13.7 -5 .4 1.8 .6 -5 .4Nonmanufacturing industries............................................................ 22.835 76.7 85.3 82.4 -11.2 -3 .4 3.1 -.5 -3 .4

    Special groupings

    Finished goods, excluding fo o d s ........................................... ................ 5 76.711 129.1 129.9 130.2 .6 .2 -.2 .5 .2Intermediate materials less foods and fe e d s ..................................... 6 95.143 123.4 121.5 121.5 -2 .4 0 -.3 -.5 .1Intermediate foods and fe e d s ................................................................. 6 4.857 115.2 114.2 114.9 -3 .2 .6 .5 -.6 1.1Crude materials less agricultural products3 7 ..................................... 8 51.467 81.2 78.8 79.3 -16.4 .6 -1.1 -3 .8 .5

    Finished energy goods.............................................................................. 5 11.936 75.4 70.5 71.7 -7 .5 1.7 -1 .5 -2 .3 1.8Finished goods less energy..................................................................... 5 88.064 141.0 142.8 143.1 2.2 .2 -.1 .8 .4Finished consumer goods less energ y ................................................ 5 62.828 142.7 144.8 145.3 3.2 .3 -.1 1.1 .6

    Finished goods less foods and energy................................................ 5 64.775 143.1 146.0 146.0 2.3 0 .1 1.0 -.1Finished consumer goods less foods and en erg y ............................ 5 39.539 147.4 151.5 151.6 4.0 .1 .1 1.8 -.1Consumer nondurable goods less foods and energy...................... 5 23.226 160.0 165.2 165.7 7.0 .3 .2 3.1 .2

    Intermediate energy goods...................................................................... 6 11.960 82.0 75.7 76.8 -7 .5 1.5 -1 .0 -3 .2 1.8Intermediate materials less en e rg y ....................................................... 6 88.040 132.0 131.2 131.0 -1 .7 -.2 -.2 - .2 -.2Intermediate materials less foods and energy................................... 6 83.183 133.1 132.3 132.1 -1 .6 -.2 -.2 -.2 -.2

    Crude energy materials3 ............................................................................ 8 32.487 62.2 62.0 62.4 -16.7 .6 0 -5 .2 .6Crude materials less energy.................................................................... 8 67.514 110.6 105.0 108.3 -7 .4 3.1 -1 .0 -3 .4 3.5Crude nonfood materials less energy4 .................................................. 8 21.913 137.9 128.1 128.7 -14.5 .5 -2 .7 -1 .6 .2

    1 Comprehensive relative importance figures are initially computed after the publication of December indexes and are recalculated after final December indexes are available. The first-published and final December relative importances initially appear, respectively, in the release tables containing January and May data.

    2 The indexes for September 1998 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision four months after original publication.

    3 Includes crude petroleum.4 Excludes crude petroleum.5 Percent of total finished goods.6 Percent of total intermediate materials.7 Formerly titled “Crude materials for further processing, excluding

    crude foodstuffs and feedstuffs, plant and animal fibers, oilseeds, and leaf tobacco.”

    8 Percent of total crude materials.

    11

    Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

  • Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing(1 9 8 2 — 100 unless otherwise indicated)

    Grouping Commoditycode

    Unadjusted indexUnadjusted percent

    change to Jan. 1999 from:

    Seasonally adjusted percent change from:

    Sep.1 9 9 8 1

    Dec.19981

    Jan.199 9 1

    Jan.1998

    Dec.1998

    Oct.to

    Nov.

    Nov.to

    Dec.

    Dec.to

    Jan.

    F in is h e d g o o d s .................................................................................... .......................................................... 130.6 131.0 131.5 0.9 0.4 -0 .2 0.4 0 .5

    F in ish ed co n su m er g o o d s .................................................................................................................... 129.1 129.3 130.0 1.3 .5 - .3 .5 .8

    F in ished co n su m er f o o d s ................................................................................................................ 135.4 134.3 135.6 1.9 1.0 - .4 0 1.6

    Fresh fruits and melons2 ................................................................................................................. 01-11 92.3 86.6 103.6 16.1 19.6 -6 .9 1.4 19.6Fresh and dry vegetables2 .............................................................................................................. 01-13 130.8 137.9 124.4 -13 .1 -9 .8 -16 .1 10.8 -9 .8Eggs for fresh use (Dec. 1991 = 1 0 0 ) ......................................................................................... 01 -71-07 88.9 102.9 94.0 -4 .4 -8 .6 -4 .7 - .3 2.7

    Bakery products2 ................................................................................................................................. 02-11 175.9 176.7 177.4 1.2 .4 .1 .2 .4M illed rice2 .............................................................................................................................................. 02-13 124.5 128.1 129.6 2.9 1.2 - .2 .5 1.2P asta products (June 1 9 8 5 -1 0 0 )2 .............................................................................................. 02 -14-02 122.8 122.6 122.8 .6 .2 -.1 - .2 .2B eef and v e a l ................................... .............................. ..................................................................... 02-21-01 97.2 98.5 101.4 1.9 2.9 .4 - .2 5.7P o r k .......................................................................... ................................................................................ 02 -21-04 96 .2 ' i 80 .6 90 .6 -8 .0 12.4 -3 .2 -4 .5 18.3Processed young c h ic k e n s ............................................................................................................. 02-22-03 138.4 119.1 117.5 3.3 -1 .3 -2 .9 -1 .7 -1 .9Processed tu rkeys ............................................................................................................................... 02 -22-06 100.4 98.0 86.4 -7 .2 -1 1 .8 0 -1 .4 -7 .0Finfish and sh e llfis h ........................................................................................................................... 02-23 178.7 174.9 184.7 -1 .4 5.6 - .9 -2 .0 .8Dairy products ....................................................................................................................................... 02-3 145.7 148.5 149.0 14.5 .3 .1 .6 3 .4Processed fruits and vegetables2 ................................................................................................ 02 -4 125.2 126.7 126.8 1.6 .1 1.1 .1 .1Confectionery end products2 ......................................................................................................... 02 -55 169.6 170.1 171.0 1.8 .5 .1 .1 .5S oft d r in k s .............................................................................................................................................. 02 -62 134.8 134.9 135.4 .7 .4 .1 .3 - .8

    02-63-01 136.9 138.7 136.9 -9 .4 -1 .3 1.4 .7 -1 .3Shortening and cooking oils2 ......................................................................................................... 02-78 142.5 148.2 145.5 3 .9 -1 .8 .6 3 .3 -1 .8

    F in ish ed co n su m er g o o d s exc lud ing f o o d s ........................................................................... 126.3 126.9 127.5 1.1 .5 - .2 .8 .4

    Alcoholic b e verag es ........................................................................................................................... 02-61 134.7 136.4 136.8 1.3 .3 1.0 -.1 .1

    W om en’s apparel2 ................................................ .............................................................................. 03-81-01 122.7 122.1 122.3 .1 .2 .1 0 .2M e n ’s and boys’ a p p a re l........................................................................... ...................................... 03-81-02 133.5 133.4 133.6 .4 .1 0 .1 -.1Girls’, children’s, and infants’ apparel2 ....................................................................................... 03-81-03 120.5 121.8 121.9 - .6 .1 0 -.1 .1

    03-82 123.2 123.2 123.1 0 -.1 0 0 -.1

    F o o tw e a r................................................................................................................................................. 04-3 144.7 145.2 145.2 .5 0 .2 .1 -.1

    Residential electric power (Dec. 1 9 9 0 = 1 0 0 ) .......................................................................... 05-41 114.2 107.7 107.9 -1 .1 .2 .1 - .5 .4Residential gas (Dec. 1 9 9 0 = 1 0 0 ) ............................................................................................... 05-51 112.2 115.9 116.9 - .5 .9 .4 .6 1.0G a s o lin e ................................................................................................................. ................................ 05-71 51.0 42 .6 45.8 -2 2 .9 7 .5 -8 .0 -8 .5 6 .5Fuel oil No. 2 ........................................................................................................................................ 05-73-02-01 48.0 39.8 42.1 -2 3 .6 5.8 -5 .6 -1 0 .8 6 .4

    Pharm aceutical preps, ethical (Prescription)2 .......................................................................... 0 6 -35 332 .4 333 .4 338.0 21 .4 1.4 .1 .1 1.4Pharmaceutical preps,proprietary (O ver-counter)2 ................................................................. 06 -36 184.5 184.8 185.6 .3 .4 .3 0 .4Soaps and synthetic detergents2 ................................................................................................. 06-71 126.6 125.2 125.4 - .6 .2 - .7 0 .2Cosm etics and other toilet preparations2 .................................................................................. 06 -75 133.1 134.0 133.4 1.8 - .4 .2 .3 - .4

    Tires, tubes, tread, etc2 .................................................................................................................... 07-12 94.0 94.0 93.0 -1 .1 -1 .1 .1 0 -1 .1

    Sanitary papers and health products2 ........................................................................................ 09-15-01 145.3 145.4 146.6 .5 .8 .8 .1 .8N ew spaper circulation2 ..................................................... ................................................................ 09-31-01 202.7 202 .8 204.6 1.1 .9 0 0 .9Periodical c ircu la tio n .......................................................................................................................... 09-32-01 194.6 194.3 197.2 2 .2 1.5 .5 .1 - .4

    09-33 206.5 210 .0 212.9 3.7 1.4 .3 .3 1.4

    H ousehold furniture2 .......................................................................................................................... 12-1 148.6 149.4 149.4 1.4 0 0 .3 012-3 128.0 128.3 127.1 - .7 - .9 .8 0 - .9

    Household a p p lia n c e s ...................................................................................................................... 12-4 109.0 109.0 108.9 .6 -.1 -.1 .2 0H o m e electronic equipment2 ..................................................... ..................................................... 12-5 74.7 74.4 74.5 -3 .1 .1 0 -.1 .1Household glassware2 ...................................................................................................................... 12-62 163.1 163.0 163.4 .9 .2 -.1 .1 .2H ousehold flatware2 ........................................................................................................................... 12-64 138.3 139.4 140.0 .6 .4 .8 0 .4Law n and garden equip., ex. tractors2 ....................................................................................... 12-66 132.1 132.2 132.2 .9 0 0 0 0

    Passenger c a r s .................................................................................................................................... 14-11-01 127.0 134.2 132.3 - .8 -1 .4 .1 - .2 -1 .2

    Toys, gam es, and children’s veh ic le s ......................................................................................... 15-11 124.1 123.7 124.1 -1 .0 .3 .1 - .2 .215-12 126.2 126.3 126.0 .2 - .2 0 -.1 - .215-2 287.4 3 63.9 363.0 41 .0 - .2 .2 26.3 - .215-5 155.0 154.8 155.7 1.8 .6 .1 - .3 .6

    Jew elry, platinum, & karat gold2 ................................................................................................... 15-94-02 127.6 128.6 128.9 .3 .2 .1 .2 .2C ostum e jewelry and novelties2 ........................................ ........................................................... 15-94-04 139.8 139.8 140.2 1.0 .3 .2 0 .3

    136.7 137.8 137.7 -.1 -.1 .1 0 -.1

    Agricultural machinery and equipment2 ..................................................................................... 11-1 150.7 149.6 149.9 .1 .2 -.1 -.1 .2Construction machinery and eq u ipm ent.................................................................................... 11-2 145.3 145.4 146.2 1.0 .6 .1 .2 - .3M eta l cutting m achine tools2 .......................................................................... ............................... 11-37 160.2 160.2 160.2 .7 0 .2 -.1 0

    11-38 158.3 158.6 159.2 2.3 .4 .1 0 .4Tools, dies, jigs, fixtures, and ind. molds2 ................................................................................ 11-39 138.9 139.0 139.0 .4 0 .1 0 0Pumps, compressors, and e q u ip m e n t.............................................. ......................................... 11-41 149.4 149.5 150.7 1.6 .8 .2 .3 .2Industrial material handling equipment2 .................................................................................... 11-44 131.8 131.9 132.1 1.3 .2 - .2 .2 .2Electronic computers (Dec. 1 9 9 0 — 100)2 .................................................................................. 11-51 23.1 22.0 21.0 -2 6 .3 -4 .5 -1 .8 - .9 -4 .5Textile machinery2 ................................... .......................................................................................... 11-62 152.8 152.8 152.9 .2 .1 0 0 .1P aper industries machinery (June 1 9 8 2 = 1 0 0 ) ...................................................................... 11-64 159.7 162.2 162.6 1.8 .2 .6 0 .2Printing trades machinery2 .............................................................................................................. 11-65 142.8 142.1 142.2 2.4 .1 -1 .0 0 .1Transform ers and power regulators2 .......................................................................................... 11-74 131.8 131.3 131.4 .8 .1 - .5 - .3 .1

    See footnotes at end of table.

    12

    Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

  • Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing—Continued(1 9 8 2 = 1 0 0 unless otherwise indicated)

    GroupingCommodity

    code

    Unadjusted indexUnadjusted percent

    change to Jan. 1999 from:

    Seasonally adjusted percent change from:

    Sep.19 9 8 1

    Dec.19981

    Jan.199 9 1

    Jan.1998

    Dec.1998

    O c tto

    Nov.

    Nov.to

    Dec.

    Dec.to

    Jan.

    C a p ita l e q u ip m e n t-c o n t in u e dCommunication & related equip. (Dec. 1 9 8 5 = 1 0 0 )2 ............................................................ 11-76 113.6 113.4 113.5 -1 .1 0.1 0.1 -0 .3 0.1X-ray and electrom edical equipment2 ......................................................................................... 11-79-05 105.8 105.9 106.0 -1 .4 .1 .9 - .9 .1Oil field and gas field m ach inery .................................................................................................. 11-91 125.9 126.4 126.6 .7 .2 0 .2 - .6Mining m achinery and equipment2 ............................................................................................... 11-92 142.4 142.3 143.0 .8 .5 .1 0 .5O ffice and store machines and equipment2 ............................................................................ 11-93 112.3 112.2 111.9 - .3 - .3 .1 -.1 -.3

    Com m ercial furniture2 ....................................................................................................................... 12-2 155.2 155.3 155.6 .6 .2 .1 0 .2

    Light m otor tru c k s .............................................................................................................................. 14-11-05 150.3 158.3 158.5 1.4 .1 0 .1 .1H eavy motor trucks2 .......................................................................................................................... 14-11-06 144.7 145.6 145.6 4.1 0 1.8 .1 0Truck trailers2 ........................................................................................................................................ 14-14 135.1 135.3 135.2 1.1 -.1 .5 0 -.1Civilian aircraft (Dec. 1 9 8 5 = 1 0 0 ) ............................................................................................... 14-21-02 150.0 150.2 150.9 .5 .5 .3 .2Ships (Dec. 1 9 8 5 - 1 0 0 ) 2 ................................................................................................................. 14-31 145.8 145.8 145.8 .3 0 0 0Railroad eq u ip m e n t............................................................................................................................ 14-4 135.3 133.8 134.9 .2 .8 - .4 - 4 .7

    In te rm e d ia te m ateria ls , supp lies , a n d c o m p o n e n ts ................................................................... 122.9 121.1 121.2 -2 .4 .1 -•2 - .5 .1

    In te rm e d ia te fo o d s a n d f e e d s .................................................................................................. ........ 115.2 114.2 114.9 -3 .2 .6 .5 - .6 1.1

    Flour2 ........................................................................................................................................................ 02 -12 -03 103.3 107.1 106.8 -2 .5 - .3 1.2 -3 .0 - .3R efined sugar2 ....... ............................................................................................................................. 02-53 120.3 119.7 118.5 - .8 -1 .0 - .3 .1 -1 .0Confectionery m ate ria ls ..... .............................................................................................................. 02 -54 93.4 92.8 93.4 - .6 .6 - .2 .2 1.6C rude vegetable oils2 ........ ............................................................................................................... 02-72 131.2 121.5 123.7 -1 .9 1.8 5 .4 -7 .3 1.8Prepared animal feeds2 .................................................................................................................... 0 2-9 101.8 101.3 101.6 -1 6 .2 .3 1.4 .2 .3

    In te rm e d ia te m ate ria ls less fo o d s a n d fe e d s ........................................................................... 123.4 121.5 121.5 -2 .4 0 -•3 - .5 .1

    Synthetic fibers2 ................................................................................................................................... 03-1 109.5 107.2 104.9 -5 .7 -2 .1 - .5 .4 -2 .1Processed yarns and threads2 ...................................................................................................... 03 -2 112.7 111.1 110.1 -2 .8 - .9 - .5 - .2 - .9G ray fabrics2 ........................................................................................................................................ 03-3 120.6 119.0 117.8 -4 .5 -1 .0 .3 -.1 -1 .0Finished fab rics .................................................................................................................................... 03 -4 123.7 122.6 122.5 - .9 -.1 - .6 .2 - .3industrial textile products2 ............................................................................................................... 03-83-03 130.3 130.9 129.2 - .8 -1 .3 -•1 .2 -1 .3

    L e a th e r ...................................................................... ............................................................................. 04 -2 179.0 178.0 172.5 -4 .4 -3 .1 -1 .0 - .8 -2 .8

    Liquefied petroleum gas2 ................................................................................................................. 05-32 52.5 52.1 50.3 -3 2 .6 -3 .5 1.5 -5 .8 -3 .5Com m ercial electric p o w e r....................................................... ...................................................... 05 -42 137.7 126.7 126.8 0 .1 - .2 .2Industrial electric p o w e r.................................................................................................................... 05 -43 135.2 127.5 127.4 0 -.1 .5 - .2 .1Com m ercial natural gas (Dec. 1 9 9 0 = 1 0 0 ) .............................................................................. 05 -52 102.9 111.3 111.1 - .8 - .2 .2 -1 .0 .7Industrial natural gas (Dec. 1 9 9 0 = 1 0 0 ) .................................................................................... 05 -53 98.7 106.8 105.7 -5 .1 -1 .0 4.0 -4 .9 .6Natural gas to electric utilities (Dec. 1 9 9 0 = 1 0 0 ) ................................................................. 05-54 72.0 81.4 79.2 -16 .1 -2 .7 -3 .1 -3 .5 - .8J e t fu e ls .................................................................................................................................................. 05-72-03 43.1 35.5 37.5 -3 1 .6 5.6 -4 .6 -1 9 .9 7.5N o . 2 Diesel fu e l .................................................................................................................................. 05-73-03 48.1 38.9 39.7 -2 6 .3 2.1 -2 .3 -1 0 .8 4.2Residual fuel2 ....................................................................................................................................... 05-74 39.0 36.3 35.2 -3 1 .7 -3 .0 .3 -7 .2 -3 .0

    Industrial chemicals2 .......................................................................................................................... 06-1 119.5 119.8 118.9 -5 .5 - .8 -.1 .2 - .8Prepared p a in t ..................................................................................................................................... 06-21 155.4 156.4 156.3 2.4 -.1 .4 .1 .1Paint materials2 .................................................................................................................................... 06-22 144.1 144.6 144.5 1.0 -.1 - .7 .7 -.1M edicinal and botanical c h e m ic a ls .............................................................................................. 06-31 135.2 135.2 141.1 5.9 4.4 .2 .3 2.9Fats and oils, inedible2 ........................... .................................................................................. ...... 0 6-4 111.3 110.5 110.5 -1 6 .2 0 - .4 -2 .4 0M ixed fe rtilize rs .................................................................................................................................... 06-51 115.0 113.4 114.0 -2 .4 .5 - .3 -.1 - .3N itro g e n a te s ......................................................................................................................................... 06-52-01 102.9 95.7 95 .6 -1 8 .2 -.1 -3 .4 -2 .7 -1 .9Phosphates2 .......................................................................................................................................... 06-52 -02 112.5 113.5 112.8 2 .7 - .6 .2 -1 ,3 - .6O th er agricultural c h e m ic a ls ................................... ................... ................................................... 06-53 145.5 149.4 145.9 -3 .3 -2 .3 - .3 -.1 -2 .7Plastic resins and materials2 .......................................................................................................... 06-6 119.6 115.9 115.4 -1 3 .9 - .4 -1 .6 -1 .0 - .4

    Synthetic rubber2 ................................................................................................................................. 07-11-02 116.8 115.7 115.5 -2 .7 - .2 - .2 - .3 - .2Plastic construction p roducts ................................................................................................ ......... 07-21 125.6 124.7 124.4 -2 .5 -.2 - .2 .2 .2Unsupported plastic film, sheet, & other shapes2 ................................... ............................. 0 7 -22 126.6 126.5 126.1 -3 .1 - .3 - .6 0 - .3Plastic parts and components for manufacturing2 ................................................................. 07 -26 117.1 117.1 117.1 - .2 0 0 .2 0

    Softw ood lumber2 ............................ ................................................................................................... 08-11 175.2 174.2 181.3 -5 .0 4.1 -1 .1 2 .8 4.1H ardw ood lu m b e r ............................................................................................................................... 08-12 178.1 176.3 176.3 -1 .6 0 - .3 - .3 - .3M illwork2 ................................................................................................................................................. 0 8-2 171.5 171.6 171.6 .4 0 - .2 .1 0Plywood2 ................................................................................................................................................. 08-3 170.0 161.6 161.8 5.8 .1 3.0 - .2 .1

    09-11 121.1 112.4 116.1 -1 1 .2 3.3 -4 .5 - .8 3 .309-13 144.2 143.5 142.3 -3 .8 - .8 - .6 -1 .2 - .6

    P a p e rb o a rd ............................................................................................................................................ 0 9 -14 149.0 144.3 142.8 -8 .4 -1 .0 -1 .9 -1 .6 .6P ap er boxes and containers2 ........................................................................................................ 0 9 -15-03 154.7 151.2 151.0 -2 .5 -.1 - .6 - .9 -.1Building paper and board2 .............................................................................................................. 09-2 142.8 130.5 130.9 2 .8 .3 -2 .4 - .8 .3Com m ercial printing (June 1 9 8 2 = 1 0 0 )2 ................................................................................... 0 9 -37 152.4 152.8 152.0 .7 - .5 -.1 -.1 - .5

    Foundry and forge shop products ................................................................................................ 10-15 135.0 134.7 135.2 .4 .4 -.1 .1 -.1S tee l mill products2 ............................................................................................................................ 10-17 113.3 109.5 107.9 -6 .9 -1 .5 - .9 -1 .1 -1 .5Primary nonferrous m etals2 ............................................................................................................. 10-22 103.5 98.8 99 .6 -1 2 .4 .8 -2 .0 -1 .8 .8Aluminum mill shapes2 ..................................................................................................................... 10-25-01 140.7 137.1 136.0 -7 .8 - .8 -1 .0 - .9 - .8C opper and brass mill shapes2 .................................................................................... ................ 10-25-02 151.6 147.2 146.2 -8 .5 - .7 - .7 -1 .7 - .7Nonferrous wire and cable2 ...... ..................................................................................................... 10-26 140.8 136.3 136.0 -5 .0 - .2 -1 .5 -1 .2 - .2M eta l containers2 ................................................................................................................................ 10-3 108.5 108.6 108.6 - .5 .1 0 0

    10-4 147.1 147.2 147.7 .8 .3 .1 .1 .1Plumbing fixtures and brass fittin g s ............................................................................................ 10-5 174.6 174.4 175.2 .6 .5 .2 .1 .5Heating eq u ip m e n t............................................................................................................................. 10-6 153.2 153.3 153.5 .5 .1 .1 .1 - .3

    See footnotes at end of table.

    13

    Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

  • Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing—Continued( 1 9 8 2 - 1 0 0 un less o therw ise ind icated )

    G roup ing C om m odityco d e

    U nad justed indexU nad justed p ercen t

    c h a n g e to Jan . 1 9 9 9 from :

    S easo n a lly ad justed p ercen t c h an g e from :

    S e p .1 9 9 8 1

    D ec.1 9 9 8 1

    Jan .1 9 9 9 1

    Jan .1 9 9 8

    D ec .1 9 9 8

    O ct.to

    N ov.

    N ov.to

    D ec .

    D ec .to

    Jan .

    In te r m e d ia te m a te r ia ls le s s fo o d s a n d fe e d s — C o n tin u e dF a b rica ted structural m eta l p ro d u c ts ........ ........................................................................................ 10 -7 1 4 3 .2 1 4 3 .0 1 4 2 .8 1 .0 -0 .1 0.1 0.1 - 0 .3F a b ric a te d ferrous w ire p roducts (June 1 9 8 2 = 1 0 0 ) 2 .............................................................. 1 0 -8 8 130.1 1 3 0 .3 1 3 0 .7 1.1 .3 .2 - .2 .3O th e r m isc. m eta l p roducts2 .................................................................................................................. 1 0 -8 9 1 2 6 .0 126.1 1 2 6 .0 - .3 -.1 .1 0 - .1

    M e c h a n ic a l p o w e r transm ission e q u ip m e n t ....................................................... ........................... 11 -4 5 157 .8 1 59 .0 159 .7 1.7 .4 .2 .2 - .2A ir conditioning and refrigeration e q u ip m e n t................................................................................ 1 1 -4 8 1 3 6 .2 136.1 1 3 6 .0 2.1 - .1 .1 .1 -.1M e ta l va lves , ex.flu id p o w er (D e c . 1 9 8 2 - 1 0 0 ) 2 ........................................................................ 1 1 -4 9 -0 2 156 .8 1 59 .0 159 .7 3 .6 .4 1.1 .3 .4B all an d roller b e a r in g s ........................................................................................................................... 1 1 -4 9 -0 5 1 6 5 .6 1 6 6 .0 1 6 6 .2 1.0 .1 .1 .1 - .6W iring d e v ic e s ................................................................................................................................................ 11-71 1 54 .6 152 .5 153.1 - .8 .4 - 1 .0 .1 .4M o to rs , generato rs , m otor gen era to r s e t s ..................................................................................... 1 1 -73 1 4 5 .9 1 45 .7 1 46 .3 .5 .4 .2 - .4 .1S w itch g ear, sw itchboard , e tc ., e q u ip m e n t...................................................................................... 1 1 -7 5 1 4 8 .3 1 4 9 .5 1 4 9 .9 1 .4 .3 .1 .1 0E lectro n ic co m ponents and accessories2 ............................. ......................................................... 11 -7 8 9 9 .5 9 9 .5 9 9 .2 - 1 .9 - .3 - .4 -.1 - .3In tern a l com bustion e n g in e s .................................................................................................................. 1 1 -94 1 4 1 .0 1 4 1 .0 142.1 1.4 .8 .1 0 .7M a c h in e shop products2 ................................................................................................................ ......... 1 1 -9 5 1 3 6 .5 1 3 6 .6 1 3 6 .8 1 .0 .1 .1 0 .1

    F la t g lass2 ......................................................................................................................................................... 13-11 1 0 6 .7 1 0 6 .9 1 0 4 .4 - 3 .3 - 2 .3 .1 0 - 2 .3C e m e n t ............................................................................................................................................................. 1 3 -2 2 1 4 7 .9 1 4 8 .3 1 4 8 .8 5 .8 .3 .7 .5 .5C o n c re te p ro d u c ts ....................................................................................................................................... 1 3 -3 1 4 1 .4 1 4 1 .4 142.1 3 .8 .5 0 .2 .4A s p h a lt fe lts an d coatings2 .................................................................................................................... 1 3 -6 1 0 0 .3 1 0 0 .2 100.1 1 .4 -.1 - .4 .1 -.1G yp su m products2 ....................................................................................................................................... 1 3 -7 1 8 1 .6 1 8 3 .7 1 8 5 .8 8 .0 1.1 3 .6 - 1 .5 1.1G lass conta iners2 ............................................................................................................................... ........ 1 3 -8 1 2 6 .0 1 2 6 .0 1 2 6 .6 .6 .5 0 0 .5

    M o to r v eh ic le p arts2 ...................................................................................................... .......... :................ 1 4 -1 2 1 1 4 .6 114.1 1 1 3 .7 - 1 .0 - .4 -.1 -.1 - .4A irc ra ft en g in es & e n g in e parts (D e c . 1 9 8 5 = 1 0 0 ) ................................................................... 14 -23 13 6 .5 138 .6 13 8 .6 1.8 0 -.1 1 .4 - . 9A irc ra ft parts & aux .equ ip .,nec (June 1 9 8 5 - 1 0 0 ) 2 .................................................................. 1 4 -25 144 .2 143 .4 143 .8 1 .5 .3 .1 .1 .3

    Photographic supplies2 ............................................................................................................................. 1 5 -42 1 2 9 .0 129 .0 1 2 9 .0 .5 0 0 0 0M e d ic a l/s u rg ic a l/p e rs o n a l aid d e v ic e s ............................................................................................ 15 -6 143 .5 1 4 3 .9 143 .8 .5 -.1 0 .1 - .2

    C ru d e m a te r ia ls fo r fu r th e r p r o c e s s in g .............................................................................................. 92.1 8 8 .8 9 0 .9 - 1 0 .6 2 .4 - .7 - 4 .0 2 .6

    C ru d e fo o d s tu f fs a n d f e e d s t u f f s .................... ............................................................................. 1 0 1 .3 9 7 .2 1 0 1 .6 - 3 .7 4 .5 - .3 -4 .1 5.1

    W h e a t2 ............................................................................................................................................................... 01-21 7 4 .8 8 5 .9 8 6 .7 -8 .4 .9 4 .9 - 4 .4 .9C o r n ..................................................................................................................................................................... 0 1 -2 2 -0 2 -0 5 7 2 .5 8 3 .6 8 3 .7 - 2 1 .3 .1 7 .3 .1 - 3 .6S la u g h te r ca ttle 2 ........................................................................................................................................... 01-31 8 9 .4 8 5 .7 9 1 .5 - 4 .3 6 .8 1 .7 - 6 .0 6 .8S la u g h te r h o g s .............................................................................................................................................. 0 1 -3 2 4 8 .4 1 6 .6 4 4 .6 -1 9 .9 1 6 8 .7 - 3 0 .9 - 4 6 .5 1 8 8 .6S la u g h te r b ro ile rs /fry e rs .......................................................................................................................... 0 1 -4 1 -0 2 1 7 7 .9 1 4 1 .4 1 4 0 .2 12.1 - .8 - 8 .6 - 2 .9 - 5 .6S la u g h te r tu rk e y s ......................................................................................................................................... 0 1 -4 2 1 2 3 .3 1 2 3 .6 9 6 .3 7 .2 -2 2 .1 -1 .1 - 2 .6 - 3 .5F lu id m i l k .......................................................................................................................................................... 0 1 -6 1 2 3 .3 1 3 3 .5 1 3 0 .4 23.1 - 2 .3 3 .4 2 .8 - . 8S o y b e a n s 2 ....................................................................................................................................................... 0 1 -8 3 -0 1 -3 1 9 0 .5 9 2 .7 9 1 .8 - 1 8 .9 - 1 .0 4.1 - 3 .4 - 1 .0

    C a n e sugar.raw 2 .......................................................................................................... ................................ 0 2 -5 2 -0 1 -0 1 1 1 5 .9 1 1 7 .9 1 1 9 .0 2.1 .9 .8 1.2 .9

    C r u d e n o n fo o d m a t e r ia ls ......................................................................................................................... 8 2 .5 7 9 .8 8 0 .3 - 1 5 .8 .6 -1 .1 - 3 .8 .5

    R a w c o t to n ................................................. .................................................................................................... 0 1 -5 1 -0 1 -0 1 119 .4 9 8 .7 9 4 .4 - 8 .6 - 4 .4 - .5 -1 1 .9 - 4 .3L e a f to b acco 2 ................................................................................................................................................. 0 1 -9 2 -0 1 -0 1 1 0 5 .2 1 1 2 .6 1 1 2 .4 - .4 - .2 -2 .9 5 .8 - .2

    C a ttle h ides2 ................................................................................................................................................... 04-11 162 .0 1 4 3 .2 1 43 .7 - 7 .9 .3 -7 .5 9 .7 .3

    C o a l2 ............................................................................................................................................................. ..... 05-1 90.1 92.1 9 4 .7 3 .3 2 .8 2 .5 - 1 .7 2 .8N a tu ra l gas2 ................................................................................................................................................... 05-31 6 9 .8 8 0 .3 7 4 .7 -1 7 .8 - 7 .0 2 .7 .5 - 7 .0C ru d e pe tro leu m 2 ........................................................................................................................................ 05-61 3 6 .0 26.1 3 0 .4 -3 0 .0 16 .5 -7 .4 -2 0 .2 1 6 .5

    Logs, tim ber, e tc ..................................................................... ........................................ ............................. 0 8 -5 2 0 2 .9 1 9 9 .6 2 0 0 .7 - 6 .3 .6 - .8 .2 - 1 .2

    W a s te p a p e r2 ................................................................................................................................................... 0 9 -1 2 14 0 .5 1 1 6 .5 1 2 3 .2 - 2 4 .6 5 .8 -4 .3 -8 .2 5 .8

    Iro n o re 2 ............................................................................................................................................................ 10-11 9 5 .6 9 5 .7 9 4 .9 - .3 - .8 -.1 .1 - .8Iro n an d s te e l scrap 2 ................................................................................................................................. 10 -1 2 1 4 7 .5 1 1 8 .7 126.1 -3 6 .1 6 .2 -8 .5 .7 6 .2N o n fe rro u s m eta l o res (D e c . 1 9 8 3 = 1 0 0 ) 2 .................................................................................... 10-21 6 5 .7 61.1 6 0 .3 - 1 0 .3 - 1 .3 - 2 .7 - 4 .8 - 1 .3C o p p e r b a s e scrap2 ................................................................................................................................... 10 -23 -01 113.1 1 0 0 .5 9 4 .8 -2 2 .7 - 5 .7 - 1 .3 - 8 .5 - 5 .7A lu m in u m b a s e s c r a p ............................................................................................................................... 1 0 -2 3 -0 2 1 4 9 .7 1 4 4 .4 1 4 2 .9 -2 3 .1 - 1 .0 - 1 .3 - 3 .3 - 2 .7

    C onstruction sand , g ravel, an d crushed s to n e ............................................................................ 13-21 1 5 3 .6 1 5 4 .0 1 5 4 .2 2 .7 .1 .1 .4 - .4

    ’ T h e indexes for S e p te m b e r 1 9 9 8 h a v e b e e n recalcu la ted to inco rp o ra te la te rep o rts ? N o t seaso n a lly ad justed,

    an d corrections b y respondents . All indexes a re subject to revision 4 m onths afte r origi- 3 N ot ava ilab le ,

    nal publication.

    14

    Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

  • Table 3. Producer price indexes for selected stage-of-processing groupings, seasonally adjusted

    (1 9 8 2 = 1 0 0 )

    I Index

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    Digitized for FRASER http://fraser.stlouisfed.org/ Federal Reserve Bank of St. Louis

  • Table 4. Producer price indexes for the net output of major industry groups, not seasonally adjusted

    Industry1Industry

    c o d eIndexb ase

    Index P ercen t c h an g e to Jan . 1 9 9 9 from —

    S ep.1 9 9 8 2

    D ec.1 9 9 8 2

  • Table 5. Producer price indexes for the net output of selected industries and their products, not seasonally adjusted

    Industry an d p roduct1Industry

    co d eProduct

    co d eIndexb ase

    Index P ercen t ch an g e to Jan . 1 9 9 9 from —

    S ep.1 9 9 8 2

    D ec.1 9 9 8 2

    Jan.1 9 9 9 2 Jan . 1 9 9 8 D ec . 1 9 9 8

    T o t a l m in in g in d u s t r ie s .................................... .............................................................................. 1 2 /8 4 6 5 .7 6 5 .3 6 5 .0 - 1 4 .9 - 0 .5

    M e ta l m in in g ........................................................................................................................................... 10 1 2 /8 4 7 2 .4 6 8 .9 6 8 .0 -7 .5 - 1 .3

    Iro n o r e s ................................................... .................................. ............................................................. 101 1 2 /8 4 9 3 .0 93 .0 9 3 .0 0 0

    Iron o r e s ................................................................................................................................ .............. ... 1011 1 2 /8 4 9 4 .7 9 4 .7 9 4 .0 - .2 - .7Prim ary p ro d u c ts .......................................................................................................................... 1 0 1 1-P 1 2 /8 4 9 6 .9 9 7 .0 9 6 .2 - .3 - .8

    Iro n o r e s ..................................................... ................................................................................ 1 0 1 1 -8 1 2 /9 7 100 .5 100 .5 99 .7 - .3 - .8

    1 02 0 6 /8 8 7 6 .8 6 2 .0 6 2 .6 -2 3 .4 1.0

    C o p p e r o r e s ............................................................................................................................................ 1021 0 6 /8 8 7 6 .8 6 2 .0 6 2 .6 -2 3 .4 1.0Prim ary p ro d u c ts .......................................................................................................................... 10 2 1 -P 0 6 /8 8 7 7 .7 62 .5 63.1 -2 3 .2 1.0

    C o p p e r concentra tes , cop p er precipitates, and crude cop p er o r e s ............. 10 2 1 -3 0 6 /8 8 7 7 .7 6 2 .5 63.1 -2 3 .2 1.0S eco n d ary products and m iscellaneous re c e ip ts ....................................................... 10 2 1 -S M

    S e co n d ary p ro d u c ts .............................................................................................................. 1 0 2 1 -S 0 6 /8 8 6 5 .6 (3) 57.1 -2 6 .6 (3)

    L e a d and zinc o r e s ............................................................................................................................. 1 03 1 2 /8 5 104 .4 9 8 .5 97 .6 -1 7 .4 - .9

    L e a d and zinc o r e s ......................................................................................