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Producer Price Indexes - April 2007 The Producer Price Index for Finished Goods increased 0.7 percent in April, seasonally adjusted, the Bureau of Labor Statistics of the U.S. Department of Labor reported today. This advance followed a 1.0-percent rise in March and a 1.3-percent increase in February. In April, the index for finished goods excluding foods and energy remained unchanged for the second consecutive month. At the earlier stages of processing, prices received by producers of intermediate goods rose 0.9 percent following a 1.0-percent increase a month earlier, and the crude goods index fell 1.5 percent after increasing 3.2 percent in March. (See table A.) Table A. Monthly and annual percent changes in selected stage-of-processing price indexes, seasonally adjusted ______________________________________________________________________________________ | | | | | | | Finished goods | | | | | | | | | |---------------------------------------------------------| | | | | | | | | Change in | | | | | | | | Except |finished goods| Inter- | | | | | | |foods and|from 12 months| mediate | Crude | | Month | Total | Foods | Energy | energy | ago(unadj.) | goods | goods | |--------------------------------------------------------------------------------------| 2006 Apr. 0.7 0.5 2.6 0.1 4.1 0.7 2.5 May .2 -.8 1.1 .2 4.5 1.2 1.7 June .5 1.2 1.1 .1 4.9 .5 -2.6 July -.1 .1 .7 -.5 4.0 .2 2.8 Aug. .4 1.2 -.5 .4 3.8 .4 2.6 Sept. -1.1 .4 -5.9 .3 .9 -1.3 -3.8 Oct. -1.5 -.4 -5.8 -.4 -1.2 -1.2 -9.2 Nov. 1.6 .1 5.4 .9 .9 .6 11.7 Dec. r .7 r 1.1 r 2.4 .1 1.1 r .9 r 2.6 2007 Jan. -.6 r 1.2 -4.6 r .3 .2 -.7 r -4.0 Feb. 1.3 1.9 3.5 .4 2.5 1.1 8.9 Mar. 1.0 1.4 3.6 0 3.2 1.0 3.2 Apr. .7 .4 3.4 0 3.2 .9 -1.5 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for December 2006 have been revised to reflect the availability of late reports and corrections by respondents. Among finished goods, prices for consumer foods moved up 0.4 percent in April following a 1.4-percent increase in the previous month, while the consumer goods less foods and energy index turned down 0.1 percent after advancing 0.1 percent in the preceding month. Prices for energy goods rose less in April than they had a month earlier -- 3.4 and 3.6 percent, respectively. By contrast, the capital equipment index edged up 0.1 percent after decreasing 0.1 percent in March, slightly counteracting the deceleration in finished goods prices. Before seasonal adjustment, the Producer Price Index for Finished Goods increased 1.0 percent in April to 165.8 (1982 = 100). From April 2006 to April 2007, finished goods prices rose 3.2 percent. Over the same period, the index for finished consumer foods advanced 7.7 percent, prices for finished goods less foods and energy increased 1.5 percent, and the finished energy goods index rose 3.7 percent. For the 12 months ended in April 2007, prices received by manufacturers of intermediate goods advanced 3.7 percent, and the crude goods index jumped 11.1 percent. 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 | | |foods and| ago | |Month | Foods | Energy | energy | (unadj.) | Foods | Energy | energy |(unadj.) | |----------------------------------------------------------------------------------| 2006 Apr. -0.4 1.4 0.6 7.7 -0.7 3.4 5.1 4.6 May -.3 1.7 1.1 9.2 -2.5 .9 9.2 9.6 June .6 .4 .6 9.5 4.0 -7.0 -1.0 8.7 July .8 -1.1 .5 8.7 2.2 3.7 1.5 6.2 Aug. -.4 .4 .4 8.8 .3 6.9 -3.4 5.1 Sept. .6 -6.0 0 4.7 1.8 -9.2 1.4 -8.2 Oct. .4 -5.9 -.1 .2 2.7 -20.1 -2.7 -21.1 Nov. 2.4 4.3 -.4 2.1 2.5 26.5 -.6 -10.5 Dec. r 1.2 r 3.9 r .1 2.8 r -.1 r 4.8 r 1.7 r -4.7 2007 Jan. r 2.8 r -4.9 r .2 .9 r 2.2 r -11.9 r 1.4 -8.0 Feb. 2.6 4.5 .2 2.5 7.4 13.7 2.7 9.3 Mar. 1.7 4.1 .2 3.5 2.4 1.7 7.7 15.6 Apr. .5 1.3 .8 3.7 1.3 -4.9 .4 11.1 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for December 2006 have been revised to reflect the availability of late reports and corrections by respondents. Finished goods The index for finished consumer foods advanced 0.4 percent in April following a 1.4-percent increase in the prior month. The fresh and dry vegetables index rose 8.9 percent compared with a 13.5-percent jump in March. Prices for beef and veal and for dairy products also rose less than they had a month earlier. The index for sausages and deli meats turned down after advancing in the previous month, while prices for finfish and shellfish decreased more than they had in March. Conversely, partially offsetting the deceleration in finished consumer foods prices, the fresh fruits and melons index declined 2.8 percent following a 7.5-percent fall a month earlier. Prices for pork also fell less than they had in the preceding month. The indexes for processed young chickens and soft drinks rose more than they had in March. Prices for confectionery end products turned up after declining a month earlier. (See table 2.) The index for finished consumer goods less foods and energy turned down 0.1 percent following a 0.1-percent increase in the previous month. The passenger cars index fell 1.0 percent after rising 0.2 percent in March. Prices for pharmaceutical preparations, household appliances, pet food, and mobile homes also decreased in April following increases in the preceding month. Prices for alcoholic beverages rose less than they had a month earlier. By contrast, the light motor trucks index moved down 0.5 percent after decreasing 1.2 percent in the prior month. Prices for household furniture and sanitary paper products turned up in April following declines in the previous month. The index for motor homes rose after no change in March.
The finished energy goods index advanced 3.4 percent subsequent to a 3.6-percent rise a month earlier. In April, increasing prices for gasoline, liquefied petroleum gas, home heating oil, residential electric power, residential natural gas, and diesel fuel outweighed decreasing prices for lubricating and similar oils and for asphalt. The capital equipment index moved up 0.1 percent following a 0.1- percent decrease in March. Prices for heavy motor trucks rose 3.8 percent after no change in the previous month. The indexes for communication and related equipment and for printing trades machinery also advanced in April following no change a month earlier. The light motor trucks and electronic computers indexes fell less than they had in the preceding month. Prices for commercial furniture increased after declining in the prior month. Conversely, the passenger cars index turned down 1.0 percent following a 0.2-percent advance in March. Prices for civilian aircraft decreased after no change a month earlier. The indexes for transformers and power regulators and for integrating and measuring instruments fell following increases in the previous month. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components increased 0.9 percent in April following a 1.0-percent rise in March. The April advance in intermediate goods prices was broad-based, with the indexes for materials for durable manufacturing, energy goods, materials and components for construction, foods and feeds, and materials for nondurable manufacturing all moving up from their March levels. Prices for intermediate goods less foods and energy climbed 0.8 percent in April after edging up 0.2 percent in the prior month. (See table B.) The index for materials for durable manufacturing jumped 3.7 percent in April following a 1.1-percent increase in the preceding month. Prices for copper and brass mill shapes surged 15.8 percent after rising 1.7 percent in March. The indexes for primary nonferrous metals; hot rolled steel sheet and strip; hot rolled steel bars, plates, and structural shapes; and cold rolled steel sheet and strip also advanced more in April than they had a month earlier. Prices for titanium mill shapes turned up following declines in March. By contrast, partially offsetting the acceleration in durable manufacturing materials prices, the prepared paint index moved down 0.8 percent in April following a 2.0-percent increase in March. Prices for thermoplastic resins and flat glass also turned down in April. (See table 2.) The index for intermediate energy goods rose 1.3 percent in April after climbing 4.1 percent in the previous month. Diesel fuel prices advanced 1.7 percent compared with an 8.8-percent gain in March. Gasoline prices also moved up less than they had in March. The indexes for jet fuel, natural gas to electric utilities, residual fuel, and both industrial and commercial natural gas moved down in April after increasing a month earlier. By contrast, the index for commercial electric power rose 1.0 percent in April following a 0.4-percent decline in the preceding month. Prices for industrial electric power also advanced after decreasing in March. The index for materials and components for construction increased 0.6 percent in April following a 0.3-percent rise in the prior month. Prices for nonferrous wire and cable surged 8.4 percent after falling 2.2 percent in March. The indexes for plastic construction products, wiring devices, and heating equipment also turned up in April following declines a month earlier. Prices for steel mill products and for paving mixtures and blocks moved up at faster rates than they had in March. Conversely, the concrete products index was unchanged in April following a 0.8-percent advance in the preceding month. Prices for fabricated structural metal products also were unchanged after rising in March. The indexes for asphalt felts and coatings and for architectural coatings turned down in April. The index for intermediate foods and feeds increased 0.5 percent in April following a 1.7-percent jump in the prior month. Prices for beef and veal moved up 2.4 percent after climbing 4.1 percent in March. The indexes for dry milk products and for shortening and cooking oils also rose less than they had in March. Prices for prepared animal feeds, perishable prepared foods, and for sausages and deli meats turned down in April following advances a month earlier. By contrast, the index for processed young chickens increased 3.0 percent in April compared with a 1.1-percent advance in the preceding month. Prices for confectionery materials turned up in April, while the index for soft drink beverage bases moved up after no change in March. The index for materials for nondurable manufacturing inched up 0.1 percent in April following a 0.9-percent rise in March. Price increases for fertilizer materials slowed to a 4.2-percent rate in April from 12.7 percent in the previous month. The ethanol index also moved up less than it had in March. Prices for plastic resins and materials, intermediate basic organic chemicals, finished fabrics, and rock salt declined in April after advancing in the preceding month. By contrast, the index for primary basic organic chemicals climbed 1.4 percent following a 0.5-percent increase in March. Prices for alkalies and chlorine and for processed yarns and threads turned up in April after decreasing a month earlier. Crude goods The Producer Price Index for Crude Materials for Further Processing fell 1.5 percent in April following a 3.2-percent advance in March. Prices for crude energy materials turned down after rising in the preceding month. The indexes for crude nonfood materials less energy and for crude foodstuffs and feedstuffs increased less in April than they had in March. (See table B.) Prices for crude energy materials fell 4.9 percent following a 1.7- percent gain in March. The natural gas index dropped 13.0 percent subsequent to a 3.8-percent increase in the previous month. By contrast, partially offsetting the downturn in prices for crude energy goods, the index for crude petroleum turned up 7.9 percent in April after declining 1.3 percent a month earlier. Coal prices rose 0.2 percent in April after falling 0.1 percent in March. (See table 2.) The index for crude nonfood materials less energy increased 0.4 percent in April following a 7.7-percent advance in the preceding month. In April, higher prices for copper base scrap, gold ores, aluminum base scrap, and for construction sand, gravel, and crushed stone outweighed price declines for iron and steel scrap, wastepaper, and pulpwood. The crude foodstuffs and feedstuffs index rose 1.3 percent in April following a 2.4-percent increase in March. Price increases for slaughter cattle slowed to 2.3 percent in April after advancing 5.8 percent in the preceding month. The indexes for fresh vegetables (except potatoes) and fluid milk also moved up at slower rates than they had in March. Corn prices fell more in April, and the index for slaughter broilers and fryers turned down after rising in the previous month. Alternatively, the slaughter hogs index increased 7.0 percent following a 7.3-percent decrease in March. Prices for Irish potatoes for processing and soybeans also turned up in April after falling a month earlier. The index for fresh fruits and melons decreased less than it had in the previous month. Net output price indexes Mining, Utilities, and Manufacturing Industries. The Producer Price Index for the Net Output of Total Mining, Utilities, and Manufacturing Industries increased 1.2 percent in April following a 1.2-percent rise in March. (Net output price indexes are not seasonally adjusted.) In April, higher prices were received by the manufacturing industry groups for petroleum and coal products, food, primary metals, electrical equipment and appliances, as well as, electric power distributors. These increases outweighed lower prices received by the industry group for transportation equipment manufacturing, and the industries for natural gas distribution and electric power generation. Trade Industries. The Producer Price Index for the Net Output of Total Trade Industries advanced 1.2 percent in April compared with a 1.0-percent increase in March. (Trade indexes measure changes in margins received by wholesalers and retailers.) Margins received by department stores rose 4.6 percent in April following a 4.5-percent decline in the prior month. The margin indexes for electronic shopping and mail order houses and for specialty food stores also turned up in April. Margins received by electronics and appliances stores increased more than they had in March. The margin index for clothing stores was unchanged after declining in March, while margins received by merchant wholesalers of nondurable goods declined less in April than they had a month earlier. Conversely, partially offsetting the acceleration in the trade industries index, the margin index for gasoline stations advanced 3.8 percent in April following an 18.3-percent gain in the previous month. Margins received by merchant wholesalers of durable goods; retailers of automotive parts, accessories, and tires; and automobile dealers also rose less than they had in the previous month. Transportation and Warehousing Industries. The Producer Price Index for the Net Output of Transportation and Warehousing Industries increased 1.6 percent in April after edging down 0.2 percent in March. Accounting for the majority of this upturn, prices received by the scheduled passenger air transportation industry moved up 7.3 percent following a 1.2-percent decline in the preceding month. The industry indexes for couriers, long distance general freight trucking (by the truckload), line-haul railroads, and nonscheduled air transportation also turned up in April. Prices received by the general warehousing and storage industry rose following no change a month earlier. The industry index for long distance general freight trucking (less than truckload) increased more than it had in March. By contrast, prices received by the local general freight trucking industry moved up 0.6 percent in April compared with a 2.0-percent increase in the preceding month. The industry indexes for freight transportation arrangement and for local messengers and delivery turned down after rising in March. Traditional Service Industries. The Producer Price Index for the Net Output of Total Traditional Service Industries rose 1.8 percent in April following a 1.4-percent decrease in March. Prices received by the commercial banking industry climbed 17.1 percent subsequent to a 12.9- percent decrease a month earlier. The industry indexes for savings institutions, cellular and other wireless carriers, and management consulting services also turned up in April. Prices received by the direct health and medical insurance carriers industry moved up after no change in March, while the index for offices of physicians (excluding mental health) declined less than it had in the prior month. By contrast, prices received by the industry for investment banking and securities dealing turned down 4.7 percent after rising 1.0 percent in March. The industry indexes for non-casino hotels and motels also turned down in April. Prices received by offices of lawyers and casino hotels increased less than in the prior month. ***** Producer Price Index data for May 2007 are scheduled to be released on Thursday, June 14, 2007 at 8:30 a.m. (EDT).
