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Price highlights 2005: higher energy prices again dominate producer prices
Joseph Kowal
Economist, Division of Industrial Prices and Price Indexes, Office of Prices and Living Conditions, Bureau of Labor Statistics.
Antonio Lombardozzi
Economist, Division of Industrial Prices and Price Indexes, Office of Prices and Living Conditions, Bureau of Labor Statistics.
William Snyders
Economist, Division of Industrial Prices and Price Indexes, Office of Prices and Living Conditions, Bureau of Labor Statistics.
Jonathan Weinhagen
Economist, Division of Industrial Prices and Price Indexes, Office of Prices and Living Conditions, Bureau of Labor Statistics.
E-mail: ppi-info@bls.gov
Prices for finished goods as a whole rose at their fastest rate since 1990, with large price increases for energy goods accompanied by small advances for goods other than foods and energy. The producer price indexes for finished, intermediate, and crude goods all rose in 2005. The finished goods index advanced 5.4 percent, while the index for intermediate goods increased 8.6 percent in 2005. The crude materials index rose 21.1 percent in 2005. Energy prices were pushed significantly higher by worldwide economic expansion, geopolitical unrest in the Middle East, and the crippling effects of two devastating hurricanes along the Gulf Coast of the United States.
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