FOR DATA ONLY: (202) 691-5200 USDL 03-241 FOR TECHNICAL INFORMATION: TRANSMISSION OF MATERIAL IN (202) 691-7705 THIS RELEASE IS EMBARGOED MEDIA CONTACT: (202) 691-5902 UNTIL 8:30 A.M. (EDT), THURSDAY, http://www.bls.gov/ppi MAY 15, 2003 Producer Price Indexes -- April 2003 The Producer Price Index for Finished Goods declined 1.9 percent in April, seasonally adjusted, the Bureau of Labor Statistics reported today. This record decrease followed three consecutive increases: 1.7 percent in January, 1.0 percent in February, and 1.5 percent in March. At the earlier stages of processing, prices for intermediate goods fell 2.2 percent in April, after rising 2.0 percent in the previous month. The crude goods index decreased 16.3 percent, following a 13.3-percent gain 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 | |--------------------------------------------------------------------------------------| 2002 Apr. -0.1 -2.9 3.1 0.1 -2.1 0.9 4.3 May -.4 -.3 -2.3 0 -2.9 -.3 .7 June .1 .2 .1 .1 -2.3 .2 -3.8 July 0 -.1 1.1 -.3 -1.2 .2 .8 Aug. 0 -.4 1.4 -.1 -1.5 .4 1.8 Sept. .3 -.4 1.2 .3 -1.8 .5 2.2 Oct. .8 .4 3.4 .3 .7 .7 2.2 Nov. -.3 .4 -1.6 -.1 1.0 -.1 3.7 Dec. r -.3 .4 r .2 r -.6 1.2 r -.1 r 2.0 2003 Jan. r 1.7 1.6 r 4.4 .9 2.8 r 1.2 r 8.1 Feb. 1.0 .6 7.4 -.5 3.5 2.1 4.8 Mar. 1.5 .1 5.7 .7 4.2 2.0 13.3 Apr. -1.9 .9 -8.6 -.9 2.4 -2.2 -16.3 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for December 2002 have been revised to reflect the availability of late reports and corrections by respondents. -2- The majority of the April decline in the Producer Price Index for Finished Goods was due to prices for finished energy goods, which declined 8.6 percent after posting a 5.7-percent increase in March. (Excluding prices for energy goods, the finished goods index declined 0.5 percent in April.) The April index for finished goods other than foods and energy dropped 0.9 percent, compared with an increase of 0.7 percent in March. The April decline in this index was the largest since a 1.2-percent decrease in August 1993 and can be traced to lower prices for passenger cars, light trucks, and cigarettes. (Excluding prices for passenger cars, light trucks, and cigarettes, prices for finished goods other than foods and energy rose 0.2 percent in April.) On the other hand, the finished consumer foods index moved up 0.9 percent, after rising 0.1 percent in March. Before seasonal adjustment, the Producer Price Index for Finished Goods fell 1.7 percent from March to April to 142.1 (1982 = 100). From April 2002 to April 2003, prices for finished goods rose 2.4 percent. During the same period, the finished energy goods index jumped 12.2 percent. The index for finished consumer foods rose 3.4 percent, and the index for capital equipment advanced 0.1 percent from April 2002 to April 2003. By contrast, prices for finished consumer goods other than foods and energy declined 0.4 percent for the 12 months ended April 2003. At the earlier stages of processing, intermediate goods prices grew 4.7 percent and the crude goods index climbed 18.0 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 | | Energy |foods and| ago | |Month | Foods | Energy | energy | (unadj.) | Foods | (unadj.)| energy |(unadj.) | |----------------------------------------------------------------------------------| 2002 Apr. -0.7 4.5 0.2 -2.7 -6.1 19.4 1.9 -18.6 May -.9 -2.0 0 -3.2 -.1 .9 1.9 -16.3 June 1.1 .3 .2 -2.8 -1.2 -9.7 2.8 -12.4 July 1.3 0 .2 -1.5 .6 .3 1.7 -6.2 Aug. .7 1.5 .2 -1.0 1.7 3.2 -.4 -3.8 Sept. 1.1 2.2 .1 -.6 1.3 4.6 -.2 3.1 Oct. -.3 3.4 .2 1.6 .2 5.1 .3 15.4 Nov. .5 -1.2 .1 2.4 1.1 7.8 1.4 13.7 Dec. r 1.0 r -.5 r -.1 3.2 1.3 r 3.3 r .2 r 24.7 2003 Jan. r 1.5 r 5.6 r .4 4.5 5.4 r 14.2 r .8 29.3 Feb. .7 8.5 .7 6.7 .7 9.3 2.7 36.8 Mar. -.2 10.2 .2 8.0 -2.3 30.5 1.0 47.3 Apr. .1 -11.2 0 4.7 .9 -31.1 -1.3 18.0 r=revised. Some of the figures shown above and elsewhere in this release may differ from those previously reported because data for December 2002 have been revised to reflect the availability of late reports and corrections by respondents. -3- Finished goods The index for finished energy goods moved down 8.6 percent in April, after posting a 5.7-percent gain in the prior month. The gasoline index plunged 22.3 percent, following a 4.6-percent increase in March. Prices for residential natural gas, home heating oil, liquefied petroleum gas, and diesel fuel also turned down in April. The finished lubricants index advanced 0.8 percent in April, following a 0.1-percent rise in the previous month, slightly offsetting the downturn in the finished energy goods index. Prices for finished consumer goods other than foods and energy turned down 1.3 percent in April, compared with a 0.7-percent advance in the preceding month. The index for light motor trucks fell 4.6 percent, after rising 5.2 percent in March. Prices for passenger cars, men's and boys' apparel, compact discs, and cigarettes also turned down in April. The alcoholic beverages index remained unchanged, following an increase in March. On the other hand, prices for sanitary papers and health products rose 2.1 percent, after falling 5.2 percent a month earlier. The pharmaceutical preparations index rose at a faster rate in April than it did in March. Prices for household appliances, periodical circulation, and book publishing turned up, following decreases in March. The capital equipment index declined 0.5 percent in April, after advancing 0.8 percent in the previous month. Leading this downturn, prices for light motor trucks declined 4.6 percent, after posting a 5.2-percent gain in March. The indexes for passenger cars and for integrating and measuring instruments also moved down, following increases in the prior month. The index for tools, dies, jigs, fixtures, and industrial molds fell in April, after remaining unchanged in March. Prices for truck trailers and ships posted no change this month, following increases in the preceding month. Conversely, the communication and related equipment index remained unchanged in April, compared with a 0.4-percent decline in the previous month. The electronic computers index moved down at a slower pace in April than it did in March. Prices for commercial furniture, plastic working machinery, and for construction machinery and equipment turned up in April. The finished consumer foods index increased 0.9 percent in April, following a 0.1-percent gain in the prior month. Prices for fresh fruits and melons turned up 4.7 percent, compared with a 9.3-percent decline in March. The indexes for dairy products, pork, beef and veal, and bakery products also turned up in April. Finfish and shellfish prices advanced at a faster rate in April than they did a month earlier. On the other hand, the index for fresh and dry vegetables moved up 9.0 percent, after jumping 15.9 percent in March. Prices for processed young chickens turned down in April. Intermediate goods The Producer Price Index for Intermediate Materials, Supplies, and Components dropped 2.2 percent in April, following a 2.0-percent advance in March. Accounting for most of this reversal, prices for intermediate energy goods decreased, after rising in the previous month. The index for nondurable manufacturing materials also turned down in April. Conversely, prices for materials and components for construction increased in April, after edging down in the preceding month. The index for materials for durable manufacturing was unchanged in April, following a March decline. Prices for intermediate foods and feeds inched up, after falling a month earlier. The index for intermediate goods other than foods and energy showed no change in April, following a 0.2-percent gain in March. (See table B.) After increasing 10.2 percent in March, the April index for intermediate energy goods decreased 11.2 percent. The index for industrial natural gas fell 8.8 percent in April, after rising 24.8 percent in the prior month. Prices for natural gas to electric utilities, commercial natural gas, and refined petroleum products also moved down in April, following March increases. By contrast, the index for commercial electric power climbed 1.6 percent, compared with a 0.9-percent rise a month earlier. -4- Prices for materials for nondurable manufacturing decreased 1.0 percent in April, after advancing 0.7 percent in March. The primary basic organic chemicals index dropped 20.9 percent, following a 1.0-percent increase in the preceding month. Prices for inedible fats and oils, aluminum compounds, and paint materials also fell, after moving up a month earlier. The fertilizer materials index rose at a slower pace in April than it did in March. On the other hand, prices for plastic resins and materials jumped 7.1 percent in April, following a 0.1-percent decline in the previous month. The indexes for gray fabrics, paper, and woodpulp also turned up in April. The index for materials and components for construction advanced 0.2 percent in April, after inching down 0.1 percent in March. Prices for gypsum products went up 5.1 percent, following a 3.0-percent decline in the prior month. The indexes for mineral wool for structural insulation, treated wood, and paving mixtures and blocks also rose, after falling in March. Prices for softwood lumber, steel mill products, and plywood declined less in April than they did a month earlier. By contrast, prices for concrete products turned down 0.5 percent in April, following a 0.1- percent increase in March. The indexes for fabricated structural metal products, cement, and wiring devices also fell, after advancing in the previous month. Prices for materials for durable manufacturing were unchanged in April, compared with a 0.3-percent decrease in March. The index for building paper and board rose 4.8 percent, after falling 3.1 percent in the prior month. Prices for copper and brass mill shapes and for unprocessed filament yarns also turned up in April. The steel mill products index fell less in April than it did in March. By contrast, the index for primary nonferrous metals decreased 4.4 percent in April, following a 0.4-percent gain in March. Prices for cement, automobile stampings, and flat glass also turned down. Prices for intermediate foods and feeds edged up 0.1 percent in April, after a 0.2-percent dip in March. The index for dairy products advanced 0.7 percent, after declining 1.0 percent in the previous month. Prices for pork, shortening and cooking oils, beef and veal, and confectionery materials also turned up in April. The indexes for crude vegetable oils and flour fell at a slower rate than they did a month earlier. By contrast, prices for prepared animal feeds moved down 0.7 percent in April, following a 0.7-percent increase in March. The index for processed young chickens also turned down in April, after rising in the prior month. Crude goods The Producer Price Index for Crude Materials for Further Processing fell a record 16.3 percent in April, following a 13.3-percent gain in the previous month. Prices for crude energy materials and basic industrial materials turned down, after advancing in March. By contrast, the crude foodstuffs and feedstuffs index moved up, following a decline in the prior month. (See table B.) Prices for crude energy materials decreased 31.1 percent in April, compared with a 30.5-percent increase in the previous month. The index for natural gas plummeted 39.1 percent, following a 51.0-percent jump in March. Prices for crude petroleum dropped 21.5 percent in April, after moving up 3.3 percent a month earlier. On the other hand, the coal index rose 3.7 percent in April, following a 1.0-percent advance in the prior month. Prices for crude nonfood materials less energy declined 1.3 percent in April, compared with a 1.0-percent increase in the previous month. The iron and steel scrap index fell 1.9 percent, after posting a 5.1-percent gain in March. Copper base scrap prices also turned down in April. Prices for wastepaper and raw cotton moved up at a slower pace in April than they did in March. The indexes for leaf tobacco and gold ores decreased more than they did a month earlier. By contrast, the index for pulpwood advanced 0.7 percent in April, after falling 0.4 percent in the previous month. Hardwood logs, bolts, and timber prices also rose, following a decline in the prior month. -5- The crude foodstuffs and feedstuffs index turned up 0.9 percent in April, after declining 2.3 percent in the prior month. Slaughter cattle prices moved up 3.4 percent, compared with a 1.1-percent decrease a month earlier. The indexes for corn, unprocessed finfish, and fresh fruits and melons also rose, after falling in March. Prices for fluid milk and wheat declined at a slower rate in April than they did in the previous month. The soybeans index advanced more than it did in March. Alternatively, prices for slaughter broilers and fryers declined 6.0 percent, following a 0.7-percent decrease in the prior month. The indexes for alfalfa hay and unprocessed shellfish turned down, after rising in the previous month. Slaughter hog prices decreased at a faster pace than they did in March. The index for fresh and dry vegetables increased less in April than it did in the prior month. Net output price indexes for mining, manufacturing, and services industries Mining. The Producer Price Index for the Net Output of Total Mining Industries dropped 27.5 percent in April, after climbing 24.3 percent in the previous month. (Net output price indexes are not seasonally adjusted.) Prices received by the crude petroleum and natural gas industry declined 34.2 percent, compared with a 29.7-percent gain in March. The industry indexes for natural gas liquids and natural gas residue; bituminous coal underground mining; and kaolin and ball clay also turned down, after rising in the prior month. Prices received by the gold ores industry fell at a faster pace than they did a month earlier. By contrast, the industry index for oil and gas well drilling inched down 0.1 percent in April, following a 1.6-percent decrease in the previous month. Prices received by the bituminous coal and lignite surface mining, construction sand and gravel, and crushed and broken limestone industries rose more than they did in March. The index for the oil and gas field exploration services industry turned up, after falling in the prior month. In April, the Producer Price Index for the Net Output of Total Mining Industries was 123.9 (December 1984=100), 24.1 percent above its year-ago level. Manufacturing. The Producer Price Index for the Net Output of Total Manufacturing Industries moved down 1.8 percent in April, compared with a 0.8-percent increase in the previous month. Leading this deceleration, the petroleum refining and related products industry group index dropped 18.7 percent, after posting a 5.6-percent gain in March. The industry group indexes for transportation equipment, tobacco manufactures, fabricated metal products (except machinery and transportation equipment), and apparel and related products also turned down, following increases in the previous month. The April rubber and miscellaneous plastic products industry group index rose less than it did in March. On the other hand, the industry group index for chemicals and allied products advanced 2.0 percent in April, after climbing 1.0 percent in the prior month. The industry group indexes for paper and allied products, food and kindred products, lumber and wood products (except furniture), and machinery (except electrical) turned up, following declines in March. In April, the Producer Price Index for the Net Output of Total Manufacturing Industries was 136.4 (December 1984=100), 1.9 percent above its year-ago level. Services. Among service industries in April, prices received by the industries for general medical and surgical hospitals, offices of physicians, property and casualty insurance, scheduled air transportation, real estate agents and managers, and railroads (line haul operating) increased. Alternatively, the industry indexes for hotels and motels, telephone communications (except radiotelephone), operators and lessors of nonresidential buildings, trucking (except local), wireless telecommunications, and deep sea foreign transportation of freight fell in April. ***** Producer Price Index data for May 2003 will be released on Friday, June 13, 2003, at 8:30 a.m. (EDT). -6- NAICS Conversion The net output price indexes will be converted from the 1987 Standard Industrial Classification (SIC) basis to the 2002 North American Industry Classification System (NAICS) basis with the February 2004 release of January 2004 indexes. The NAICS conversion involves major definitional changes to many of the currently published SIC-based indexes. After the conversion to NAICS, SIC-based indexes will no longer be produced or published. Historical index data based on the NAICS publication structure will be available depending on the scope of the definitional changes between SIC and NAICS. For more information contact the Division of Industrial Prices and Price Indexes, Section of Index Analysis and Public Information at ppi- info@bls.gov or (202) 691-7705. Table 1. Producer price indexes and percent changes by stage of processing (1982=100) _______________________________________________________________________________________________________________________________ | | |Unadjusted | | | | percent |Seasonally adjusted | Relative | Unadjusted index |change to |percent change from: Grouping |importance| |Apr. 2003 from:| | |_______________________|_______________|__________________________ | Dec. | | | | | | | | | | Dec. |Mar. |Apr. | Apr. | Mar. |Jan. to|Feb. to |Mar. to | 2002 1/|2002 2/|2003 2/|2003 2/| 2002 | 2003 | Feb. | Mar. | Apr. _________________________________________________|__________|_______|_______|_______|_______|_______|_______|_________|________ | Finished goods...................................| 100.000 139.0 144.5 142.1 2.4 -1.7 1.0 1.5 -1.9 Finished consumer goods........................| 73.339 139.6 146.7 143.7 3.2 -2.0 1.5 1.6 -2.4 Finished consumer foods......................| 20.672 139.5 142.6 143.9 3.4 .9 .6 .1 .9 Crude......................................| 1.333 112.7 123.3 133.5 16.0 8.3 -2.7 5.6 9.4 Processed..................................| 19.339 141.8 144.2 144.7 2.5 .3 .8 -.3 .3 Finished consumer goods, excluding foods.....| 52.667 139.3 147.9 143.3 3.2 -3.1 1.9 2.2 -3.6 Nondurable goods less foods................| 36.364 140.6 152.5 146.4 4.7 -4.0 3.1 2.5 -4.5 Durable goods..............................| 16.303 132.8 134.5 132.8 -.5 -1.3 -1.0 1.7 -1.3 Capital equipment..............................| 26.661 139.1 140.1 139.4 .1 -.5 -.4 .8 -.5 Manufacturing industries.....................| 7.839 140.0 140.3 140.0 0 -.2 -.1 .2 -.2 Nonmanufacturing industries..................| 18.822 138.7 139.9 139.1 .1 -.6 -.5 1.1 -.7 | Intermediate materials, supplies, and components.| 100.000 129.4 136.2 133.2 4.7 -2.2 2.1 2.0 -2.2 Materials and components for manufacturing.....| 46.896 127.2 129.9 129.5 3.2 -.3 1.3 .2 -.3 Materials for food manufacturing.............| 2.918 126.9 128.9 129.7 6.5 .6 .6 -.7 .5 Materials for nondurable manufacturing.......| 14.707 131.4 139.2 137.9 7.7 -.9 3.4 .7 -1.0 Materials for durable manufacturing..........| 9.136 126.2 127.0 127.0 2.7 0 .6 -.3 0 Components for manufacturing.................| 20.136 125.9 126.1 126.0 -.2 -.1 .1 .2 -.1 Materials and components for construction......| 12.772 151.1 152.2 152.8 1.1 .4 .3 -.1 .2 Processed fuels and lubricants.................| 16.110 100.9 125.4 110.9 16.4 -11.6 7.9 10.3 -11.2 Manufacturing industries ....................| 6.430 103.6 124.8 115.2 18.5 -7.7 5.9 10.7 -6.4 Nonmanufacturing industries..................| 9.680 99.2 125.8 108.3 15.1 -13.9 9.1 10.0 -14.1 Containers.....................................| 3.248 153.2 154.1 154.0 1.9 -.1 .2 .1 -.1 Supplies.......................................| 20.974 139.6 141.2 141.4 2.1 .1 .4 .4 .1 Manufacturing industries.....................| 4.589 144.9 146.3 147.0 1.7 .5 .3 .6 .5 Nonmanufacturing industries..................| 16.385 137.1 138.7 138.8 2.2 .1 .4 .4 .1 Feeds......................................| 1.097 100.6 103.0 102.1 7.4 -.9 1.0 1.0 -.9 Other supplies.............................| 15.288 141.6 143.1 143.3 1.8 .1 .4 .4 .1 | Crude materials for further processing...........| 100.000 118.1 152.7 127.8 18.0 -16.3 4.8 13.3 -16.3 Foodstuffs and feedstuffs......................| 38.685 100.5 105.2 106.1 9.9 .9 .7 -2.3 .9 Nonfood materials..............................| 61.315 128.2 185.7 140.8 23.5 -24.2 7.4 22.2 -24.2 Nonfood materials except fuel 3/.............| 33.142 105.7 123.4 110.9 10.0 -10.1 5.8 2.1 -10.3 Manufacturing 3/...........................| 32.295 96.9 113.6 101.8 10.3 -10.4 5.9 2.1 -10.5 Construction...............................| 0.847 181.1 181.3 180.2 -1.0 -.6 .5 .2 -1.1 Crude fuel 4/................................| 28.173 153.0 272.2 177.0 42.3 -35.0 9.3 44.2 -35.0 Manufacturing industries...................| 2.540 146.2 256.0 168.5 40.4 -34.2 8.8 42.9 -34.2 Nonmanufacturing industries................| 25.633 156.4 278.7 181.0 42.5 -35.1 9.3 44.3 -35.1 | Special groupings | | Finished goods, excluding foods..................|5/ 79.328 138.7 144.7 141.4 2.1 -2.3 1.1 1.8 -2.6 Intermediate materials less foods and feeds......|6/ 95.985 130.0 137.1 133.9 4.7 -2.3 2.1 2.2 -2.3 Intermediate foods and feeds.....................|6/ 4.015 118.8 121.0 121.2 6.7 .2 .7 -.2 .1 Crude materials less agricultural products 3/ 7/.|8/ 59.316 129.6 189.8 143.2 23.8 -24.6 7.5 23.0 -24.6 | Finished energy goods............................|5/ 14.951 90.7 107.5 99.6 12.2 -7.3 7.4 5.7 -8.6 Finished goods less energy.......................|5/ 85.049 147.0 148.9 148.2 .6 -.5 -.3 .6 -.5 Finished consumer goods less energy..............|5/ 58.388 150.2 152.7 152.0 .9 -.5 -.1 .5 -.5 | Finished goods less foods and energy.............|5/ 64.377 149.9 151.5 150.1 -.2 -.9 -.5 .7 -.9 Finished consumer goods less foods and energy....|5/ 37.716 157.2 159.2 157.3 -.4 -1.2 -.5 .7 -1.3 Consumer nondurable goods less foods and energy..|5/ 21.413 176.7 179.2 177.0 -.3 -1.2 -.1 -.1 -1.2 | Intermediate energy goods........................|6/ 16.468 100.0 124.8 110.3 16.2 -11.6 8.5 10.2 -11.2 Intermediate materials less energy...............|6/ 83.532 135.5 137.4 137.4 2.5 0 .7 .1 0 Intermediate materials less foods and energy.....|6/ 79.517 136.6 138.5 138.5 2.3 0 .7 .2 0 | Crude energy materials 3/........................|8/ 41.909 124.0 202.0 139.1 29.6 -31.1 9.3 30.5 -31.1 Crude materials less energy......................|8/ 58.093 110.5 116.1 116.4 10.3 .3 1.4 -1.2 .2 Crude nonfood materials less energy 4/...........|8/ 19.406 139.9 148.3 146.7 11.3 -1.1 2.7 1.0 -1.3 _______________________________________________________________________________________________________________________________ 1/ Comprehensive relative importance figures are initially computed 4/ Excludes crude petroleum. after the publication of December indexes and are recalculated 5/ Percent of total finished goods. after final December indexes are available. 6/ Percent of total intermediate materials. 2/ The indexes for December 2002 have been recalculated to incorporate 7/ Formerly titled "Crude materials for late reports and corrections by respondents. All indexes are further processing, excluding crude subject to revision 4 months after original publication. foodstuffs and feedstuffs, plant and 3/ Includes crude petroleum. animal fibers, oilseeds, and leaf tobacco." 8/ Percent of total crude materials. Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing (1982=100 unless otherwise indicated) ____________________________________________________________________________________________________________________________________ | | |Unadjusted | | | |percent |Seasonally adjusted | | Unadjusted index |change to |percent change from: Commodity | | |Apr. 2003 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Dec. |Mar. |Apr. | Apr. | Mar. |Jan. to|Feb. to|Mar. to | |2002 1/|2003 1/|2003 1/| 2002 | 2003 | Feb. | Mar. | Apr. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | |FINISHED GOODS.........................................| 139.0 144.5 142.1 2.4 -1.7 1.0 1.5 -1.9 | FINISHED CONSUMER GOODS...............................| 139.6 146.7 143.7 3.2 -2.0 1.5 1.6 -2.4 | FINISHED CONSUMER FOODS..............................| 139.5 142.6 143.9 3.4 .9 .6 .1 .9 | | 01-11 | Fresh fruits and melons 2/..........................| 76.5 72.0 75.4 -11.9 4.7 3.0 -9.3 4.7 01-13 | Fresh and dry vegetables 2/.........................| 113.8 137.6 150.0 29.2 9.0 -11.7 15.9 9.0 01-71-07 | Eggs for fresh use (Dec. 1991=100)..................| 97.1 97.9 99.6 39.9 1.7 3.6 4.1 8.3 02-11 | Bakery products 2/..................................| 192.1 194.5 195.2 3.0 .4 .4 -.2 .4 02-13 | Milled rice 2/......................................| 85.4 88.1 91.7 18.0 4.1 2.3 .2 4.1 02-14-02 | Pasta products (June 1985=100) 2/...................| 121.5 126.3 126.6 4.3 .2 2.1 -.2 .2 02-21-01 | Beef and veal 2/....................................| 117.7 126.4 127.4 8.4 .8 2.2 -.2 .8 02-21-04 | Pork................................................| 106.2 111.7 112.0 2.1 .3 1.1 -2.8 .2 02-22-03 | Processed young chickens............................| 105.5 116.4 114.7 5.6 -1.5 6.6 2.5 -1.2 02-22-06 | Processed turkeys...................................| 94.1 88.7 89.3 -5.8 .7 .2 -2.2 0 02-23 | Finfish and shellfish...............................| 180.1 197.6 214.8 14.5 8.7 1.7 2.2 8.8 02-3 | Dairy products......................................| 135.1 132.5 133.7 -2.9 .9 -.2 -1.0 .7 02-4 | Processed fruits and vegetables 2/..................| 133.5 133.2 133.2 .5 0 .1 -.4 0 02-55 | Confectionery end products 2/.......................| 176.6 182.4 182.7 4.2 .2 1.6 -.1 .2 02-62 | Soft drinks.........................................| 151.9 152.3 152.7 .7 .3 -1.0 .1 .3 02-63-01 | Roasted coffee 2/...................................| 121.7 122.4 122.5 .7 .1 .7 .1 .1 02-78 | Shortening and cooking oils 2/......................| 154.6 152.1 154.5 15.9 1.6 -.5 -.7 1.6 | | | FINISHED CONSUMER GOODS EXCLUDING FOODS..............| 139.3 147.9 143.3 3.2 -3.1 1.9 2.2 -3.6 | | 02-61 | Alcoholic beverages.................................| 148.3 149.2 149.1 1.8 -.1 -.1 .5 0 03-81-01 | Women's apparel 2/..................................| 123.9 121.6 122.8 .5 1.0 -.7 .7 1.0 03-81-02 | Men's and boys' apparel 2/..........................| 128.3 128.8 127.4 -1.0 -1.1 -.5 .3 -1.1 03-81-03 | Girls', children's, and infants' apparel 2/.........| 119.3 120.2 120.1 2.1 -.1 0 0 -.1 03-82 | Textile housefurnishings 2/.........................| 122.2 121.9 122.0 -.2 .1 0 0 .1 04-3 | Footwear 2/.........................................| 146.5 148.0 147.7 1.4 -.2 .4 .6 -.2 05-41 | Residential electric power (Dec. 1990=100)..........| 113.2 114.9 115.7 2.6 .7 .6 1.2 .9 05-51 | Residential gas (Dec. 1990=100).....................| 142.9 173.5 166.6 27.9 -4.0 4.8 15.2 -3.1 05-71 | Gasoline............................................| 82.1 120.5 100.3 12.7 -16.8 18.8 4.6 -22.3 05-73-02-01| Fuel oil No. 2......................................| 82.3 129.3 93.5 21.4 -27.7 25.2 13.5 -29.3 06-38 | Pharmaceutical preparations (June 2001=100) 2/......| 104.2 105.5 106.3 4.3 .8 -.3 .1 .8 06-71 | Soaps and synthetic detergents 2/...................| 130.5 129.0 129.3 -.3 .2 .2 -.8 .2 06-75 | Cosmetics and other toilet preparations 2/..........| 139.6 140.2 140.5 .8 .2 0 .1 .2 07-12 | Tires, tubes, tread, etc 2/.........................| 95.3 97.8 97.4 2.0 -.4 .7 0 -.4 09-15-01 | Sanitary papers and health products 2/..............| 151.0 143.1 146.1 -3.2 2.1 -.1 -5.2 2.1 09-31-01 | Newspaper circulation 2/............................| 227.2 229.9 229.7 2.2 -.1 1.9 0 -.1 09-32-01 | Periodical circulation..............................| 212.2 216.9 219.0 4.6 1.0 -.5 -1.1 .9 09-33 | Book publishing.....................................| 238.3 239.9 241.8 3.6 .8 0 -.2 .9 12-1 | Household furniture.................................| 157.8 158.2 158.2 1.0 0 -.1 .2 -.1 12-3 | Floor coverings 2/..................................| 130.1 131.5 132.8 2.2 1.0 -.3 .7 1.0 12-4 | Household appliances 2/.............................| 103.7 102.5 103.2 -1.3 .7 -.9 -1.2 .7 12-5 | Home electronic equipment 2/........................| 68.2 67.8 68.0 -1.7 .3 -.1 -.7 .3 12-62 | Household glassware.................................| 169.8 166.4 166.2 -2.1 -.1 -.3 1.0 -.2 12-64 | Household flatware 2/...............................| 145.2 145.2 145.2 .1 0 0 0 0 12-66 | Lawn and garden equip., ex. tractors 2/.............| 133.4 133.4 133.4 -.4 0 .3 -.1 0 14-11-01 | Passenger cars......................................| 129.1 133.0 129.6 -.5 -2.6 -.6 3.3 -2.6 15-11 | Toys, games, and children's vehicles 2/.............| 124.9 125.3 125.0 .2 -.2 0 .1 -.2 15-12 | Sporting and athletic goods 2/......................| 124.8 124.9 125.1 -.2 .2 -.3 .5 .2 15-2 | Tobacco products 2/.................................| 434.2 468.2 428.9 -7.9 -8.4 .1 .2 -8.4 15-5 | Mobile homes 2/.....................................| 166.5 166.8 168.2 1.1 .8 0 .2 .8 15-94-02 | Jewelry, platinum, & karat gold 2/..................| 130.2 132.8 131.3 1.5 -1.1 1.3 -.4 -1.1 15-94-04 | Costume jewelry and novelties 2/....................| 144.3 144.4 144.3 .4 -.1 0 0 -.1 | | | CAPITAL EQUIPMENT.....................................| 139.1 140.1 139.4 .1 -.5 -.4 .8 -.5 | | 11-1 | Agricultural machinery and equipment 2/.............| 159.7 158.5 158.7 .3 .1 .1 0 .1 11-2 | Construction machinery and equipment................| 151.7 152.9 153.4 1.3 .3 -.1 -.1 .1 11-37 | Metal cutting machine tools 2/......................| 150.6 150.4 150.4 -.9 0 .1 .1 0 11-38 | Metal forming machine tools 2/......................| 167.3 167.3 167.3 .5 0 0 0 0 11-39 | Tools, dies, jigs, fixtures, and ind. molds 2/......| 140.5 140.5 139.5 -.6 -.7 .4 0 -.7 11-41 | Pumps, compressors, and equipment...................| 161.6 162.5 162.6 1.2 .1 0 .2 .1 11-44 | Industrial material handling equipment 2/...........| 137.3 137.8 137.6 .5 -.1 .1 .1 -.1 11-51 | Electronic computers (Dec. 1998=100) 2/.............| 38.4 35.2 35.1 -21.7 -.3 -6.3 -1.4 -.3 11-62 | Textile machinery 2/................................| 157.2 157.9 156.9 .1 -.6 0 .4 -.6 11-64 | Paper industries machinery (June 1982=100)..........| 169.6 170.3 170.7 1.4 .2 .3 -.1 .2 11-65 | Printing trades machinery 2/........................| 144.1 142.6 142.9 -.1 .2 -1.2 .1 .2 11-74 | Transformers and power regulators 2/................| 132.3 132.4 132.4 .5 0 .2 .2 0 11-76 | Communication & related equip. (Dec. 1985=100) 2/...| 106.2 106.3 106.3 -1.5 0 .5 -.4 0 11-79-05 | X-ray and electromedical equipment 2/...............| 100.5 100.2 101.2 0 1.0 -1.1 1.1 1.0 11-91 | Oil field and gas field machinery ..................| 136.0 136.8 139.3 2.6 1.8 -.1 0 1.9 11-92 | Mining machinery and equipment 2/...................| 154.0 155.0 155.3 2.6 .2 .1 .1 .2 11-93 | Office and store machines and equipment 2/..........| 112.8 111.8 112.2 -1.4 .4 -.2 0 .4 12-2 | Commercial furniture 2/.............................| 161.6 162.0 162.2 1.4 .1 .4 -.1 .1 14-11-05 | Light motor trucks..................................| 150.5 155.1 148.7 -2.6 -4.1 -3.9 5.2 -4.6 14-11-06 | Heavy motor trucks 2/...............................| 155.2 155.8 155.7 3.1 -.1 -.4 -.1 -.1 14-14 | Truck trailers 2/...................................| 138.3 139.5 139.5 1.3 0 .2 .6 0 14-21-02 | Civilian aircraft (Dec. 1985=100)...................| 174.0 175.4 176.5 3.8 .6 .2 .6 .6 14-31 | Ships (Dec. 1985=100) 2/............................| 152.9 158.2 158.2 5.7 0 2.8 2.0 0 14-4 | Railroad equipment 2/...............................| 134.5 135.7 136.0 .7 .2 .5 .1 .2 | | |INTERMEDIATE MATERIALS, SUPPLIES, AND COMPONENTS.......| 129.4 136.2 133.2 4.7 -2.2 2.1 2.0 -2.2 | | | INTERMEDIATE FOODS AND FEEDS..........................| 118.8 121.0 121.2 6.7 .2 .7 -.2 .1 | | 02-12-03 | Flour 2/............................................| 119.4 123.4 123.2 12.9 -.2 1.9 -1.4 -.2 02-53 | Refined sugar and byproducts 2/.....................| 120.1 122.5 122.8 3.7 .2 1.3 0 .2 02-54 | Confectionery materials 2/..........................| 123.9 125.4 126.2 10.9 .6 3.0 -1.9 .6 02-72 | Crude vegetable oils 2/.............................| 113.4 110.2 109.9 52.0 -.3 -4.2 -2.3 -.3 02-9 | Prepared animal feeds 2/............................| 107.5 109.7 108.9 5.4 -.7 .7 .7 -.7 | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS...........| 130.0 137.1 133.9 4.7 -2.3 2.1 2.2 -2.3 | | 03-1 | Synthetic fibers 2/.................................| 106.6 106.3 106.6 1.1 .3 .6 -.4 .3 03-2 | Processed yarns and threads 2/......................| 102.6 103.0 103.4 1.3 .4 .5 .6 .4 03-3 | Gray fabrics 2/.....................................| 112.7 108.1 109.9 -2.8 1.7 -.5 -2.2 1.7 03-4 | Finished fabrics....................................| 121.4 120.4 119.9 -1.1 -.4 -.1 -1.5 -.6 03-83-03 | Industrial textile products 2/......................| 131.1 131.1 131.0 -1.7 -.1 -.1 -.3 -.1 04-2 | Leather 2/..........................................| 209.2 210.9 215.9 9.6 2.4 1.1 -.2 2.4 05-32 | Liquefied petroleum gas 2/..........................| 133.3 178.3 132.1 28.9 -25.9 16.8 3.2 -25.9 ____________________________________________________________________________________________________________________________________ See footnotes at end of table. Table 2. Producer price indexes and percent changes for selected commodity groupings by stage of processing - Continued (1982=100 unless otherwise indicated) ____________________________________________________________________________________________________________________________________ | | |Unadjusted | | | |percent |Seasonally adjusted | | Unadjusted index |change to |percent change from: Commodity | | |Apr. 2003 from:| code | Grouping |_______________________|_______________|________________________ | | | | | | | | | | |Dec. |Mar. |Apr. | Apr. | Mar. |Jan. to|Feb. to|Mar. to | |2002 1/|2003 1/|2003 1/| 2002 | 2003 | Feb. | Mar. | Apr. ___________|_______________________________________________________|_______|_______|_______|_______|_______|_______|_______|________ | | | INTERMEDIATE MATERIALS LESS FOODS AND FEEDS | | -Continued..........................................| 05-42 | Commercial electric power...........................| 134.7 136.7 138.3 3.6 1.2 0.4 0.9 1.6 05-43 | Industrial electric power...........................| 139.6 142.8 145.3 7.3 1.8 .5 1.9 2.0 05-52 | Commercial natural gas (Dec. 1990=100)..............| 151.0 192.0 171.0 27.8 -10.9 5.1 20.2 -8.8 05-53 | Industrial natural gas (Dec. 1990=100)..............| 154.0 206.0 180.8 33.6 -12.2 6.1 24.8 -8.8 05-54 | Natural gas to electric utilities (Dec. 1990=100)...| 132.3 257.9 153.9 45.5 -40.3 26.4 54.7 -36.9 05-72-03 | Jet fuels...........................................| 78.6 117.8 83.3 18.5 -29.3 10.4 15.4 -33.4 05-73-03 | No. 2 Diesel fuel...................................| 86.8 129.3 102.3 33.0 -20.9 25.2 1.4 -19.9 05-74 | Residual fuel 2/....................................| 75.0 113.2 92.5 24.3 -18.3 25.9 4.5 -18.3 06-1 | Industrial chemicals 2/.............................| 132.4 148.4 140.9 11.7 -5.1 6.4 1.0 -5.1 06-21 | Prepared paint......................................| 167.7 169.1 169.3 1.3 .1 .9 .1 0 06-22 | Paint materials 2/..................................| 171.2 173.8 173.5 1.6 -.2 .2 .6 -.2 06-31 | Medicinal and botanical chemicals 2/................| 132.5 134.3 135.9 2.6 1.2 .2 .9 1.2 06-4 | Fats and oils, inedible.............................| 117.3 122.0 113.5 46.3 -7.0 -.4 8.2 -3.0 06-51 | Mixed fertilizers...................................| 114.1 120.7 120.3 5.9 -.3 -.3 5.3 -.3 06-52-01 | Nitrogenates........................................| 114.9 149.4 155.8 54.1 4.3 6.0 13.0 5.8 06-52-02 | Phosphates 2/.......................................| 100.1 108.4 112.3 12.6 3.6 .4 6.0 3.6 06-53 | Other agricultural chemicals 2/.....................| 149.2 149.2 150.0 .8 .5 -1.6 .7 .5 06-6 | Plastic resins and materials........................| 135.3 145.0 157.2 25.4 8.4 3.5 -.1 7.1 07-11-02 | Synthetic rubber 2/.................................| 121.5 124.9 127.4 9.4 2.0 -.5 1.3 2.0 07-21 | Plastic construction products ......................| 134.5 138.7 140.3 4.7 1.2 .1 .7 .5 07-22 | Unsupported plastic film, sheet, & other shapes 2/..| 137.4 145.8 145.0 5.7 -.5 1.6 4.4 -.5 07-26 | Plastic parts and components for manufacturing 2/...| 115.9 116.1 116.0 -.2 -.1 -.1 .1 -.1 08-11 | Softwood lumber.....................................| 164.8 164.2 163.8 -8.0 -.2 -.1 -4.1 -.9 08-12 | Hardwood lumber ....................................| 180.8 185.6 187.6 5.9 1.1 .7 1.3 1.2 08-2 | Millwork............................................| 179.6 180.2 180.8 .8 .3 .2 0 .1 08-3 | Plywood 2/..........................................| 146.3 146.0 145.8 -8.5 -.1 .9 -.8 -.1 09-11 | Woodpulp 2/.........................................| 117.9 116.1 122.6 8.4 5.6 0 -.1 5.6 09-13 | Paper 2/............................................| 145.5 144.9 145.9 1.1 .7 -.3 -.1 .7 09-14 | Paperboard 2/.......................................| 166.6 164.6 163.5 .4 -.7 .1 -1.3 -.7 09-15-03 | Paper boxes and containers 2/.......................| 174.3 174.1 173.2 .7 -.5 0 0 -.5 09-2 | Building paper and board 2/.........................| 128.5 132.9 139.3 6.1 4.8 6.2 -3.1 4.8 09-37 | Commercial printing (June 1982=100) 2/..............| 157.1 157.6 158.4 1.1 .5 .3 -.2 .5 10-15 | Foundry and forge shop products.....................| 137.0 137.1 137.0 .2 -.1 .1 .1 -.1 10-17 | Steel mill products.................................| 110.1 109.5 109.9 8.8 .4 1.1 -.6 -.1 10-22 | Primary nonferrous metals 2/........................| 101.7 107.0 102.3 .5 -4.4 3.5 .4 -4.4 10-25-01 | Aluminum mill shapes 2/.............................| 143.8 143.3 143.6 .9 .2 .2 .1 .2 10-25-02 | Copper and brass mill shapes 2/.....................| 147.0 148.1 148.2 -3.3 .1 2.3 -2.4 .1 10-26 | Nonferrous wire and cable 2/........................| 132.4 131.8 132.4 -1.9 .5 -.5 .2 .5 10-3 | Metal containers 2/.................................| 108.3 109.6 109.1 2.0 -.5 .1 0 -.5 10-4 | Hardware 2/.........................................| 155.7 155.8 156.1 -.1 .2 -.1 -.2 .2 10-5 | Plumbing fixtures and brass fittings................| 182.0 183.1 183.1 .8 0 -.1 0 .2 10-6 | Heating equipment 2/................................| 158.3 163.1 163.4 3.5 .2 1.1 -.2 .2 10-7 | Fabricated structural metal products 2/.............| 145.4 145.6 145.5 .8 -.1 -.1 .1 -.1 10-88 | Fabricated ferrous wire products (June 1982=100) 2/.| 129.7 129.5 129.2 .1 -.2 .1 -.1 -.2 10-89 | Other misc. metal products 2/.......................| 127.6 127.8 127.6 .8 -.2 -.1 .6 -.2 11-45 | Mechanical power transmission equipment.............| 170.4 171.2 171.5 1.3 .2 -.4 0 .3 11-48 | Air conditioning and refrigeration equipment 2/.....| 137.0 137.3 137.5 .6 .1 0 -.1 .1 11-49-02 | Metal valves, ex.fluid power (Dec. 1982=100)........| 168.2 168.9 169.2 1.4 .2 0 0 .2 11-49-05 | Ball and roller bearings............................| 170.7 171.2 171.4 1.4 .1 -.2 .1 .4 11-71 | Wiring devices 2/...................................| 152.4 153.5 152.8 -.5 -.5 .1 .1 -.5 11-73 | Motors, generators, motor generator sets............| 147.3 147.7 147.3 .3 -.3 -.1 -.1 -.1 11-75 | Switchgear, switchboard, etc., equipment 2/.........| 160.1 158.8 159.3 .1 .3 .8 -.4 .3 11-78 | Electronic components and accessories 2/............| 91.5 91.8 91.8 -1.1 0 -.5 .2 0 11-94 | Internal combustion engines.........................| 143.9 144.0 143.9 -.2 -.1 .3 0 -.1 11-95 | Machine shop products 2/............................| 140.3 140.6 140.6 .4 0 0 .1 0 13-11 | Flat glass 2/.......................................| 111.6 111.2 111.1 .4 -.1 -.5 .3 -.1 13-22 | Cement..............................................| 152.5 152.8 152.0 -.8 -.5 .5 .3 -2.5 13-3 | Concrete products...................................| 152.5 153.7 153.4 .3 -.2 .2 .1 -.5 13-6 | Asphalt felts and coatings..........................| 109.5 112.5 115.4 5.8 2.6 1.1 2.3 1.6 13-7 | Gypsum products 2/..................................| 171.9 165.7 174.2 6.0 5.1 1.2 -3.0 5.1 13-8 | Glass containers 2/.................................| 136.4 138.4 139.7 3.6 .9 -.1 0 .9 14-12 | Motor vehicle parts 2/..............................| 112.5 111.5 111.5 -1.6 0 .2 0 0 14-23 | Aircraft engines & engine parts (Dec. 1985=100).....| 145.7 152.6 152.5 4.5 -.1 4.1 -.1 .1 14-25 | Aircraft parts & aux.equip.,nec (June 1985=100).....| 151.1 149.3 149.3 -1.2 0 .1 .4 .1 15-42 | Photographic supplies 2/............................| 118.2 118.7 118.6 -.4 -.1 -1.2 0 -.1 15-6 | Medical/surgical/personal aid devices 2/............| 152.1 154.3 154.8 2.7 .3 .1 .2 .3 | | | CRUDE MATERIALS FOR FURTHER PROCESSING................| 118.1 152.7 127.8 18.0 -16.3 4.8 13.3 -16.3 | | | CRUDE FOODSTUFFS AND FEEDSTUFFS......................| 100.5 105.2 106.1 9.9 .9 .7 -2.3 .9 | | 01-21 | Wheat 2/............................................| 106.3 96.6 93.4 13.6 -3.3 5.3 -5.9 -3.3 01-22-02-05| Corn................................................| 91.8 94.6 97.1 24.3 2.6 8.1 -5.0 6.6 01-31 | Slaughter cattle 2/.................................| 104.6 112.4 116.2 11.4 3.4 -.4 -1.1 3.4 01-32 | Slaughter hogs......................................| 50.2 56.3 53.7 7.2 -4.6 2.2 -6.5 -8.4 01-41-02 | Slaughter broilers/fryers...........................| 119.7 145.2 133.9 12.2 -7.8 1.4 -.7 -6.0 01-42 | Slaughter turkeys...................................| 110.7 100.8 101.6 8.5 .8 1.5 -3.9 -3.1 01-6 | Fluid milk..........................................| 88.9 82.2 81.5 -13.5 -.9 -1.7 -5.2 -1.5 01-83-01-31| Soybeans 2/.........................................| 95.4 97.6 105.5 34.7 8.1 4.4 .2 8.1 02-52-01-01| Cane sugar,raw 2/...................................| 117.2 118.1 116.0 9.3 -1.8 .9 2.1 -1.8 | | | CRUDE NONFOOD MATERIALS..............................| 128.2 185.7 140.8 23.5 -24.2 7.4 22.2 -24.2 | | 01-51-01-01| Raw cotton 2/.......................................| 77.5 89.4 89.8 68.2 .4 6.5 4.2 .4 01-92-01-01| Leaf tobacco 2/.....................................| 116.4 93.5 72.0 (3) -23.0 -4.1 -15.8 -23.0 04-19 | Hides and skins (June 2001=100) 2/..................| 85.6 87.9 86.5 14.0 -1.6 4.5 -.2 -1.6 05-1 | Coal 2/.............................................| 98.0 98.0 101.6 0 3.7 -2.8 1.0 3.7 05-31 | Natural gas 2/......................................| 171.1 331.5 202.0 53.8 -39.1 11.5 51.0 -39.1 05-61 | Crude petroleum 2/..................................| 72.9 97.7 76.7 8.5 -21.5 10.0 3.3 -21.5 08-5 | Logs, timber, etc...................................| 181.1 181.0 179.9 -.4 -.6 .4 .2 -.8 09-12 | Wastepaper 2/.......................................| 187.9 197.5 204.8 41.4 3.7 .3 8.1 3.7 10-11 | Iron ore 2/.........................................| 95.0 95.3 95.2 -.2 -.1 -.3 0 -.1 10-12 | Iron and steel scrap................................| 142.6 176.3 175.2 29.3 -.6 11.7 5.1 -1.9 10-21 | Nonferrous metal ores (Dec. 1983=100) 2/............| 69.6 72.9 70.3 4.6 -3.6 2.6 -1.9 -3.6 10-23-01 | Copper base scrap 2/................................| 116.8 121.4 120.3 8.0 -.9 1.4 1.9 -.9 10-23-02 | Aluminum base scrap.................................| 159.8 170.2 167.4 3.1 -1.6 1.8 .2 -.7 13-21 | Construction sand, gravel, and crushed stone........| 174.0 176.0 176.5 2.1 .3 .3 .1 .1 ____________________________________________________________________________________________________________________________________ 1/ The indexes for December 2002 have been recalculated to incorporate 2/ Not seasonally adjusted. late reports and corrections by respondents. All indexes are subject 3/ Not available. to revision 4 months after original publication. Table 3. Producer price indexes for selected commodity groupings (1982=100 unless otherwise indicated) _______________________________________________________________________________________________ | | | | | Unadjusted index 1/ | Commodity| |___________________________________| code | Grouping | Dec. 2002 |March 2003 |April 2003 | _________|________________________________________________|___________|___________|___________| | | | | | | Finished Goods (1967=100)......................| 390.2 | 405.4 | 398.8 | | All commodities................................| 132.9 | 141.4 | 136.8 | | | | | | | | | | | | MAJOR COMMODITY GROUPS | | | | | | | | | | Farm products and processed foods and feeds....| 124.8 | 128.0 | 128.9 | 01 | Farm products................................| 99.1 | 103.5 | 104.9 | 02 | Processed foods and feeds....................| 137.5 | 140.0 | 140.7 | | | | | | | Industrial commodities.........................| 134.4 | 143.7 | 138.2 | 03 | Textile products and apparel.................| 120.0 | 119.2 | 119.3 | 04 | Hides, skins, leather, and related products..| 161.0 | 162.6 | 163.1 | 05 | Fuels and related products and power.........| 99.4 | 130.2 | 110.0 | 06 | Chemicals and allied products 2/.............| 155.1 | 163.4 | 162.8 | 07 | Rubber and plastic products..................| 127.3 | 130.1 | 131.0 | 08 | Lumber and wood products.....................| 171.8 | 172.7 | 173.0 | 09 | Pulp, paper, and allied products.............| 187.4 | 188.3 | 189.3 | 10 | Metals and metal products....................| 127.2 | 128.7 | 128.3 | 11 | Machinery and equipment......................| 122.3 | 122.4 | 122.4 | 12 | Furniture and household durables.............| 133.5 | 133.6 | 133.9 | 13 | Nonmetallic mineral products.................| 146.3 | 147.5 | 148.3 | 14 | Transportation equipment.....................| 144.8 | 146.7 | 144.9 | 15 | Miscellaneous products.......................| 179.1 | 184.1 | 178.9 | | | | | | | Industrial commodities less fuels and related | | | | | products and power...........................| 143.4 | 145.4 | 144.9 | | | | | | | | | | | | OTHER COMMODITY GROUPINGS | | | | | | | | | 01-1 | Fruits and melons, fresh and dry vegetables, | | | | | and tree nuts................................| 99.3 | 106.9 | 114.1 | 01-2 | Grains.........................................| 96.3 | 95.4 | 96.8 | 01-3 | Slaughter livestock............................| 90.6 | 98.1 | 100.0 | 01-4 | Slaughter poultry..............................| 116.3 | 134.5 | 125.7 | 01-5 | Plant and animal fibers........................| 78.6 | 90.6 | 91.0 | 01-7 | Chicken eggs...................................| 112.7 | 113.9 | 114.8 | 01-8 | Hay, hayseeds, and oilseeds....................| 121.1 | 122.5 | 129.4 | 01-83 | Oilseeds.......................................| 106.2 | 108.8 | 116.6 | 01-9 | Other farm products............................| 173.6 | 139.4 | 107.4 | 02-1 | Cereal and bakery products.....................| 166.9 | 169.8 | 170.2 | 02-2 | Meats, poultry, and fish.......................| 118.3 | 125.4 | 126.7 | 02-22 | Processed poultry..............................| 109.0 | 114.6 | 113.3 | 02-5 | Sugar and confectionery........................| 144.8 | 148.5 | 148.8 | 02-6 | Beverages and beverage materials...............| 148.7 | 149.5 | 149.7 | 02-63 | Packaged beverage materials....................| 124.0 | 124.8 | 124.9 | 02-7 | Fats and oils..................................| 144.1 | 143.5 | 147.0 | 03-81 | Apparel........................................| 125.8 | 125.2 | 125.2 | 04-4 | Other leather and related products.............| 148.3 | 148.3 | 147.2 | 05-3 | Gas fuels......................................| 159.5 | 290.9 | 182.6 | 05-4 | Electric power.................................| 134.7 | 137.0 | 138.5 | 05-7 | Refined petroleum products.....................| 81.2 | 118.6 | 95.8 | 06-3 | Drugs and pharmaceuticals......................| 268.2 | 271.4 | 273.3 | 06-5 | Agricultural chemicals and products............| 125.9 | 135.6 | 138.4 | 06-7 | Other chemicals and allied products............| 139.9 | 140.3 | 140.9 | 07-1 | Rubber and rubber products.....................| 117.3 | 119.0 | 119.3 | 07-11 | Rubber, except natural rubber..................| 120.9 | 124.3 | 126.8 | 07-13 | Miscellaneous rubber products..................| 140.5 | 140.8 | 141.1 | 07-2 | Plastic products...............................| 135.2 | 138.5 | 139.7 | 08-1 | Lumber.........................................| 167.7 | 169.0 | 169.5 | 09-1 | Pulp, paper, and products, excluding building | | | | | paper and board..............................| 157.0 | 156.1 | 157.0 | 09-15 | Converted paper and paperboard products........| 165.3 | 164.0 | 164.5 | 10-1 | Iron and steel.................................| 117.9 | 120.7 | 120.9 | 10-2 | Nonferrous metals..............................| 120.7 | 122.6 | 121.2 | 10-25 | Nonferrous mill shapes.........................| 136.9 | 136.7 | 136.7 | 11-3 | Metalworking machinery and equipment...........| 150.2 | 150.5 | 150.2 | 11-4 | General purpose machinery and equipment........| 154.7 | 155.4 | 155.5 | 11-6 | Special industry machinery.....................| 165.8 | 166.2 | 166.5 | 11-7 | Electrical machinery and equipment.............| 115.4 | 115.5 | 115.5 | 11-9 | Miscellaneous machinery and equipment..........| 136.6 | 136.9 | 137.1 | 12-6 | Other household durable goods..................| 158.4 | 158.7 | 158.5 | 13-2 | Concrete ingredients...........................| 163.2 | 164.4 | 164.4 | 14-1 | Motor vehicles and equipment...................| 129.8 | 131.7 | 129.1 | 15-1 | Toys, sporting goods, small arms, etc..........| 133.0 | 133.3 | 133.3 | 15-4 | Photographic equipment and supplies............| 105.0 | 105.1 | 105.0 | 15-9 | Other miscellaneous products...................| 140.4 | 141.7 | 140.7 | __________________________________________________________|___________|___________|___________| 1/ Data for December 2002 have been revised to reflect the availability of late reports and corrections by respondents. All data are subject to revision 4 months after original publication. 2/ Prices of some items in this grouping are lagged 1 month. Table 4. Producer price indexes for the net output of major industry groups, not seasonally adjusted ___________________________________________________________________________________________________________________ | | | Index | Percent change Industry | Industry 1/ |Index|_______________________|to_Apr._2003_from: code | |base | | | | | | | |Dec. |Mar. |Apr. | Apr. | Mar. | | |2002 2/|2003 2/|2003 2/| 2002 | 2003 __________________|______________________________________________|_____|_______|_______|_______|________|__________ | | | |Total mining industries...................... |12/84| 113.8 170.8 123.9 24.1 -27.5 10 | Metal mining................................ |12/84| 74.5 77.3 75.2 2.5 -2.7 12 | Coal mining................................. |12/85| 93.1 94.0 94.8 .4 .9 13 | Oil and gas extraction...................... |12/85| 133.9 222.6 149.0 33.2 -33.1 14 | Mining and quarrying of non-metallic | | | minerals, except fuels..................... |12/84| 144.2 146.3 146.2 2.0 -.1 | | | |Total manufacturing industries............... |12/84| 134.0 138.9 136.4 1.9 -1.8 20 | Food and kindred products................... |12/84| 132.6 134.7 135.0 2.7 .2 21 | Tobacco manufactures........................ |12/84| 380.3 409.6 375.8 -7.8 -8.3 22 | Textile mill products....................... |12/84| 116.1 114.8 115.1 -.6 .3 23 | Apparel and other finished products made | | | from fabrics and similar materials......... |12/84| 124.8 125.5 125.1 .1 -.3 24 | Lumber and wood products, except furniture.. |12/84| 154.2 155.3 156.1 -.4 .5 25 | Furniture and fixtures...................... |12/84| 146.8 147.3 147.3 1.1 0 26 | Paper and allied products................... |12/84| 144.9 143.9 144.4 .8 .3 27 | Printing, publishing, and allied industries. |12/84| 194.1 196.5 196.9 2.2 .2 28 | Chemicals and allied products............... |12/84| 159.3 163.7 167.0 7.1 2.0 29 | Petroleum refining and related products..... |12/84| 102.4 146.0 118.7 18.1 -18.7 30 | Rubber and miscellaneous plastic products... |12/84| 125.8 128.3 129.3 3.6 .8 31 | Leather and leather products................ |12/84| 142.5 143.1 143.1 2.1 0 32 | Stone, clay, glass, and concrete products... |12/84| 137.3 137.6 138.1 1.1 .4 33 | Primary metal industries.................... |12/84| 118.1 117.8 117.8 2.7 0 34 | Fabricated metal products, except machinery | | | and transportation equipment............... |12/84| 132.2 132.7 132.6 1.0 -.1 35 | Machinery, except electrical................ |12/84| 116.5 116.2 116.3 -1.1 .1 36 | Electrical and electronic machinery, | | | equipment, and supplies.................... |12/84| 104.3 104.1 104.1 -1.9 0 37 | Transportation equipment.................... |12/84| 137.6 139.8 137.8 .1 -1.4 38 | Measuring and controlling instruments; | | | photographic, medical, optical goods; | | | watches, clocks............................ |12/84| 128.8 129.9 130.0 1.4 .1 39 | Miscellaneous manufacturing industries...... |12/85| 133.8 134.0 134.0 .5 0 | | | |Services industries | | 40 | Railroad transportation..................... |12/96| 107.1 107.7 108.7 2.3 0.9 42 | Motor freight transportation and warehousing |06/93| 125.9 127.3 127.4 3.0 .1 43 | United States Postal Service................ |06/89| 155.0 155.0 155.0 6.6 0 44 | Water transportation........................ |12/92| 142.2 140.9 140.1 9.5 -.6 45 | Transportation by air....................... |12/92| 159.8 160.3 161.0 3.0 .4 46 | Pipelines, except natural gas............... |12/86| 111.8 111.2 111.6 .1 .4 48 | Communications.............................. |06/01| 97.4 97.0 97.1 -.1 .1 54 | Food stores................................. |12/99| 114.6 115.6 116.6 2.6 .9 55 | Automotive dealers and gasoline service | | | stations................................... |12/01| 86.1 87.6 93.7 3.8 7.0 59 | Miscellaneous retail........................ |06/00| 105.0 107.1 106.6 3.5 -.5 80 | Health services............................. |12/94| 121.4 121.9 123.2 4.1 1.1 81 | Legal services.............................. |12/96| 123.0 125.1 125.3 3.6 .2 ___________________________________________________________________________________________________________________ 1/ Indexes in this table are derived from the net-output-weighted industry price indexes. Because of differences in coverage and aggregation methodology, they will generally not match the movements of similarly titled indexes which are derived from traditional commodity groupings. 2/ The indexes for December 2002 have been recalculated to incorporate late reports and corrections by respondents. All indexes are subject to revision 4 months after original publication. 3/ Not available. Note: NAICS 2002 replaces the SIC classification system beginning with the release of PPI data for January 2004. See http://www.bls.gov/ppi/ppinaics.htm for details. Table 5. Producer price indexes by stage of processing, seasonally adjusted (1982=100) _____________________________________________________________________________________________________________ | | Index 1/ |_____________________________________________________ Grouping | | | | | | | Nov. | Dec. | Jan. | Feb. | Mar. | Apr. | 2002 | 2002 | 2003 | 2003 | 2003 | 2003 _______________________________________________________|________|________|________|________|________|________ | Finished goods...................................| 139.7 139.3 141.6 143.0 145.1 142.3 Finished consumer goods........................| 140.5 140.1 143.0 145.2 147.5 144.0 Finished consumer foods......................| 139.3 139.8 142.1 142.9 143.0 144.3 Crude......................................| 120.7 111.7 120.3 117.0 123.6 135.2 Processed..................................| 140.8 142.1 143.9 145.1 144.6 145.0 Finished consumer goods, excluding foods.....| 140.7 139.9 143.0 145.7 148.9 143.6 Nondurable goods less foods................| 142.7 141.9 145.8 150.3 154.0 147.0 Durable goods..............................| 132.7 132.1 133.5 132.2 134.4 132.6 Capital equipment..............................| 139.1 138.8 139.4 138.9 140.0 139.3 Manufacturing industries.....................| 140.0 139.9 140.0 139.9 140.2 139.9 Nonmanufacturing industries..................| 138.6 138.3 139.1 138.4 139.9 138.9 | Intermediate materials, supplies, and components.| 129.7 129.6 131.2 133.9 136.6 133.6 Materials and components for manufacturing.....| 127.7 127.3 128.0 129.6 129.9 129.5 Materials for food manufacturing.............| 125.4 127.2 129.5 130.3 129.4 130.0 Materials for nondurable manufacturing.......| 133.0 131.6 133.6 138.2 139.1 137.7 Materials for durable manufacturing..........| 126.5 126.5 126.6 127.4 127.0 127.0 Components for manufacturing.................| 126.0 125.9 125.7 125.8 126.1 126.0 Materials and components for construction......| 151.6 151.5 151.9 152.4 152.3 152.6 Processed fuels and lubricants.................| 101.0 101.2 107.0 115.4 127.3 113.1 Manufacturing industries ....................| 103.5 102.7 107.4 113.7 125.9 117.8 Nonmanufacturing industries..................| 99.4 100.2 106.8 116.5 128.2 110.1 Containers.....................................| 153.4 153.2 153.6 153.9 154.1 154.0 Supplies.......................................| 139.6 139.6 140.0 140.6 141.2 141.4 Manufacturing industries.....................| 144.9 144.9 145.1 145.5 146.4 147.1 Nonmanufacturing industries..................| 137.1 137.1 137.5 138.1 138.7 138.8 Feeds......................................| 100.4 100.6 101.0 102.0 103.0 102.1 Other supplies.............................| 141.6 141.6 142.1 142.6 143.1 143.3 | Crude materials for further processing...........| 116.8 119.1 128.8 135.0 153.0 128.0 Foodstuffs and feedstuffs......................| 100.7 102.0 107.5 108.3 105.8 106.8 Nonfood materials..............................| 125.8 128.7 141.5 152.0 185.7 140.7 Nonfood materials except fuel 2/.............| 103.4 106.5 114.3 120.9 123.4 110.7 Manufacturing 2/...........................| 94.8 97.7 105.1 111.3 113.6 101.7 Construction...............................| 182.6 182.2 180.2 181.1 181.5 179.5 Crude fuel 3/................................| 150.6 153.0 172.8 188.8 272.2 177.0 Manufacturing industries...................| 144.1 146.2 164.6 179.1 256.0 168.5 Nonmanufacturing industries................| 153.9 156.4 176.7 193.1 278.7 181.0 | Special groupings | | Finished goods, excluding foods..................| 139.6 139.0 141.3 142.8 145.4 141.6 Intermediate materials less foods and feeds......| 130.4 130.2 131.8 134.6 137.5 134.3 Intermediate foods and feeds.....................| 117.8 119.0 120.8 121.6 121.3 121.4 Crude materials less agricultural products 2/....| 127.2 130.1 143.5 154.3 189.8 143.2 | Finished energy goods............................| 92.5 92.7 96.8 104.0 109.9 100.5 Finished goods less energy.......................| 147.3 146.8 148.5 148.1 149.0 148.3 Finished consumer goods less energy..............| 150.8 150.1 152.3 152.1 152.8 152.1 | Finished goods less foods and energy.............| 150.5 149.6 151.0 150.3 151.4 150.0 Finished consumer goods less foods and energy....| 158.2 156.8 158.9 158.1 159.2 157.2 Consumer nondurable goods less foods and energy..| 178.9 176.7 179.5 179.3 179.1 177.0 | Intermediate energy goods........................| 100.8 100.3 105.9 114.9 126.6 112.4 Intermediate materials less energy...............| 135.6 135.6 136.2 137.2 137.4 137.4 Intermediate materials less foods and energy.....| 136.8 136.7 137.2 138.2 138.5 138.5 | Crude energy materials 2/........................| 120.0 124.0 141.6 154.8 202.0 139.1 Crude materials less energy......................| 111.1 112.1 116.4 118.0 116.6 116.8 Crude nonfood materials less energy 3/...........| 141.5 141.8 143.0 146.9 148.3 146.4 _____________________________________________________________________________________________________________ 1/ All seasonally adjusted indexes are subject to change up to 5 years after original publication due to the recalculation of seasonal factors each January. The indexes for December 2002 have been recalculated to incorporate late reports and corrections by respondents. 2/ Includes crude petroleum. 3/ Excludes crude petroleum. Technical Note Brief Explanation of Producer Price Indexes The term Producer Price Index (PPI) refers to a family of indexes that measure the average change over time in the selling prices received by domestic producers of goods and services. PPIs measure price change from the perspective of the seller. This contrasts with other measures, such as the Consumer Price Index (CPI); CPIs measure price change from the purchaser's perspective. Sellers' and purchasers' prices may differ due to government subsidies, sales and excise taxes, and distribution costs. More than 10,000 PPIs for individual products and groups of products are released each month. PPIs are available for the products of virtually every industry in the mining and manufacturing sectors of the U.S. economy. New PPIs are gradually being introduced for the products of industries in the transportation, utilities, trade, finance, and services sectors of the economy. More than 100,000 price quotations per month are organized into three sets of producer price indexes: (1) stage-of-processing indexes; (2) commodity indexes; and (3) indexes for the net output of industries and their products. The stage-of-processing structure (tables 1, 2, and 5) organizes products by class of buyer and degree of fabrication. The commodity structure (tables 2 and 3) organizes products by similarity of end-use or material composition. The entire output of various industries is sampled to derive price indexes for the net output of industries and their products (table 4). Within the stage-of-processing system, finished goods are commodities that will not undergo further processing and are ready for sale to the final demand user, either an individual consumer or business firm. Consumer foods include unprocessed foods such as eggs and fresh vegetables, as well as processed foods such as bakery products and meats. Other finished consumer goods include durable goods such as automobiles, household furniture, and appliances; and nondurable goods such as apparel and home heating oil. Capital equipment includes producer durable goods such as heavy motor trucks, tractors, and machine tools. The stage-of-processing category for intermediate materials, supplies, and components consists partly of commodities that have been processed but require further processing. Examples of such semifinished goods include flour, cotton yarn, steel mill products, and lumber. The intermediate goods category also encompasses nondurable physically complete items purchased by business firms as inputs for their operations. Examples include diesel fuel, belts and belting, paper boxes, and fertilizers. Crude materials for further processing are products entering the market for the first time that have not been manufactured or fabricated and that are not sold directly to consumers. Crude foodstuffs and feedstuffs include items such as grains and livestock. Examples of crude nonfood materials include raw cotton, crude petroleum, coal, hides and skins, and iron and steel scrap. Producer price indexes for the net output of industries and their products are grouped according to the Standard Industrial Classification (SIC). Industry price indexes are compatible with other economic time series organized by SIC codes, such as data on employment, wages, and productivity. Table 4 lists indexes for the net output of major mining and manufacturing industry groups at the 2-digit level. Producer price indexes are based on selling prices reported by establishments of all sizes selected by probability sampling, with the probability of selection proportionate to size. Individual items and transaction terms from these firms are also chosen by probability proportionate to size. BLS strongly encourages cooperating companies to supply actual transaction prices at the time of shipment to minimize the use of list prices. Prices are normally reported by mail questionnaire for the Tuesday of the week containing the 13th. Price data are provided on a voluntary and confidential basis; no one but sworn BLS employees are allowed access to individual company price reports. The Bureau publishes price indexes instead of unit dollar prices. All producer price indexes are routinely subject to revision once, 4 months after original publication, to reflect the availability of late reports and corrections by respondents. The BLS periodically updates the PPI sample of survey respondents to better reflect current conditions when the structure, membership, technology, or product mix of an industry shifts significantly and to spread reporting burden among smaller firms. Results of these resampling efforts are incorporated into the PPI every January and July. As part of an ongoing effort to expand coverage to sectors of the economy other than mining and manufacturing, an increasing number of service sector industries have been introduced into the PPI. The following list of recently introduced service industries includes the month in which an article describing the industry's content appeared in the PPI Detailed Report: PPI Detailed Industry SIC Report Issue Wireless Telecommunications............................. 4812 July 1999 Telephone Communications, Except Radio Telephone........ 4813 July 1995 Television Broadcasting................................. 4833 July 2002 Grocery Stores.......................................... 5411 July 2000 Meat and Fish (Seafood) Markets......................... 5421 July 2000 Fruit and Vegetable Markets............................. 5431 July 2000 Candy, Nut, and Confectionery Stores.................... 5441 July 2000 Retail Bakeries......................................... 5461 July 2000 Miscellaneous Food Stores............................... 5499 July 2000 New Car Dealers......................................... 5511 July 2000 Gasoline Service Stations............................... 5541 January 2002 Boat Dealers............................................ 5551 January 2002 Recreational Vehicle Dealers............................ 5561 January 2002 Miscellaneous Retail.................................... 59 January 2001 Security Brokers, Dealers, and Investment Bankers....... 6211 January 2001 Investment Advice....................................... 6282 January 2003 Life Insurance Carriers................................. 6311 January 1999 Property and Casualty Insurance......................... 6331 July 1998 Insurance Agencies and Brokerages....................... 6412 January 2003 Operators and Lessors of Nonresidential Buildings....... 6512 January 1996 Real Estate Agents and Managers......................... 6531 January 1996 Prepackaged Software.................................... 7372 January 1998 Data Processing Services................................ 7374 January 2002 Home Health Care Services............................... 8082 January 1997 Legal Services.......................................... 8111 January 1997 Engineering Design, Analysis, and Consulting Services... 8711 January 1997 Architectural Design, Analysis, and Consulting Services. 8712 January 1997 Premiums for Property and Casualty Insurance............ 9331 July 1998 Weights for most traditional commodity groupings of the PPI, as well as all indexes (such as stage-of-processing indexes) calculated from traditional commodity groupings, currently reflect 1992 values of shipments as reported in the Census of Manufactures and other sources. From January 1992 through December 1995, PPI weights were derived from 1987 shipment values. Industry indexes shown in table 4 are also now calculated with 1992 net output weights. This periodic update of the value weights used to calculate the PPI is done to more accurately reflect changes in production and marketing patterns in the economy. Net output values of shipments are used as weights for industry indexes. Net output values refer to the value of shipments from establishments in one industry to establishments classified in another industry. However, weights for commodity price indexes are based on gross shipment values, including shipment values between establishments within the same industry. As a result, broad commodity grouping indexes such as the all commodities index are affected by the multiple counting of price change at successive stages of processing, which can lead to exaggerated or misleading signals about inflation. Stage-of-processing indexes partially correct this defect, but industry indexes consistently correct for this at all levels of aggregation. Therefore, industry and stage-of-processing indexes are more appropriate than broad commodity groupings for economic analysis of general price trends. Effective with publication of January 1988 data, many important PPI series (including stage-of-processing groupings and most commodity groups and individual items) were placed on a new reference base, 1982=100. From 1971 through 1987, the standard reference base for most PPI series was 1967=100. Except for rounding differences, the shift to the new reference base did not alter any changes to previously published percent changes for affected PPI series. (See "Calculating Index Changes," below.) The new reference base is not used for indexes with a base later than December 1981, nor for indexes for the net output of industries and their products. For further information on the underlying concepts and methodology of the Producer Price Index, see chapter 14, "Producer Prices," in BLS Handbook of Methods (April 1997), Bulletin 2490. Reprints are available from the Bureau of Labor Statistics on request. Calculating Index Changes Each index measures price changes from a reference period which equals 100.0 (1982 or some later month). An increase of 5.5 percent from the reference period in the Finished Goods Price Index, for example, is shown as 105.5. This change can also be expressed in dollars as follows: "Prices received by domestic producers of a systematic sample of finished goods have risen from $100 in 1982 to $105.50 today." Likewise, a current index of 90.0 would indicate that prices received by producers of finished goods today are 10 percent lower than they were in 1982. Movements of price indexes from one month to another are usually expressed as percent changes rather than as changes in index points because index point changes are affected by the level of the index in relation to its base period, whereas percent changes are not. The example below shows the computation of index point and percent changes. Index point change Finished Goods Price Index 107.5 Less previous index 104.0 Equals index point change 3.5 Index percent change Index point change 3.5 Divided by the previous index 104.0 Equals 0.034 Result multiplied by 100 0.034 x 100 Equals percent change 3.4 Seasonally Adjusted and Unadjusted Data Because price data are used for different purposes by different groups, the Bureau of Labor Statistics publishes seasonally adjusted and unadjusted changes each month. Seasonally adjusted data are preferred for analyzing general price trends in the economy because they eliminate the effect of changes that normally occur at about the same time and in about the same magnitude every year--such as price movements resulting from normal weather patterns, regular production and marketing cycles, model changeovers, seasonal discounts, and holidays. For these reasons, seasonally adjusted data more clearly reveal underlying cyclical trends. Unadjusted data are of primary interest to users who need information that can be related to actual dollar values of transactions. Individuals requiring this information include marketing specialists, purchasing agents, budget and cost analysts, contract specialists, and commodity traders. It is the unadjusted data that are generally cited in escalating long-term contracts such as purchasing agreements or real estate leases. (See Escalation and Producer Price Indexes: A Guide for Contracting Parties, BLS Report 807, September 1991, available on request from BLS.) For more information, see (1) "Appendix A: Seasonal Adjustment Methodology at BLS," in the BLS Handbook of Methods (April 1997), Bulletin 2490 and (2) "Summary of Changes to the PPI's Seasonal Adjustment Methodology" in the January 1995 issue of Producer Price Indexes.