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http://stats.bls.gov/ppihome.htm APRIL 12, 2001
Producer Price Indexes -- March 2001
The Producer Price Index for Finished Goods edged down 0.1 percent in
March, seasonally adjusted, the Bureau of Labor Statistics of the U.S.
Department of Labor reported today. This decline followed a 0.1-percent
rise in February and a 1.1-percent advance in January. The index for
finished goods other than foods and energy edged up 0.1 percent in March,
following a 0.3-percent decrease in the prior month. Prices received by
producers of intermediate goods fell 0.2 percent in March, following a 0.1-
percent decrease in the prior month. The crude goods index declined 1.7
percent, after dropping 14.2 percent in February. (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 |
|--------------------------------------------------------------------------------------|
2000
Mar. 0.9 0.1 5.3 0.1 4.3 1.0 1.8
Apr. -.3 1.1 -3.5 0 3.6 -.1 -1.5
May 0 .1 -.8 .2 3.7 0 3.1
June .9 -.4 6.1 .1 4.4 .9 8.5
July -.1 -.1 -.6 .1 4.3 .2 -2.0
Aug. -.1 -.4 -1.2 .2 3.4 -.3 -3.6
Sept. .7 .2 3.4 .3 3.5 .8 7.1
Oct. .4 .7 1.5 0 3.7 .2 3.8
Nov. .1 .2 r.5 r.1 r3.8 -.2 r-1.3
Dec. r.1 -.4 r1.2 r-.1 3.6 .4 r6.1
2001
Jan. 1.1 .8 3.8 .7 4.8 .7 13.9
Feb. .1 .6 1.4 -.3 4.0 -.1 -14.2
Mar. -.1 1.1 -2.6 .1 3.1 -.2 -1.7
r=revised. Some of the figures shown above and elsewhere in this release may differ
from those previously reported because data for November 2000 have been revised to
reflect the availability of late reports and corrections by respondents.
-2-
Among finished goods, prices for energy goods turned down 2.6 percent
in March, compared with a 1.4-percent increase in the previous month.
Conversely, the index for finished consumer goods other than foods and
energy rose 0.3 percent, after falling 0.4 percent in February. Prices for
finished consumer foods rose more than they did a month earlier. The
capital equipment index showed no change in March, after falling 0.3
percent in the prior month.
During the first quarter of 2001, the Finished Goods Price Index moved
up at a seasonally adjusted annual rate (SAAR) of 4.9 percent, following a
2.9-percent rate of increase during the fourth quarter of 2000. Finished
consumer food prices moved up at a 10.6-percent SAAR during the first
quarter of 2001, following a 2.4-percent annual rate of increase from
September 2000 to December 2000. Prices for finished goods other than
foods and energy advanced at a 1.9-percent SAAR for the first three months
of 2001, after showing no change during the prior quarter. By contrast,
the index for finished energy goods rose at a 10.8-percent SAAR from
December 2000 to March 2001, after increasing at a 13.8-percent annual rate
over the last three months of 2000. Prices for Intermediate Materials,
Supplies, and Components advanced at a 1.5-percent SAAR, for the second
consecutive calendar quarter. During the first quarter of 2001, the
Producer Price Index for Crude Materials for Further Processing decreased
at a SAAR of 14.9 percent, following a 39.8-percent rate of increase in the
final quarter of 2000. (See summary below.)
Summary of December-to-December and 3-month seasonally adjusted annual rates
for selected stages of process
Seasonally adjusted annual
rate for:
Percentage 3 3 3 3
change 12 months months months months
Grouping months ended ended ended ended ended
in December in in in in
June Sep. Dec. Mar.
1998 1999 2000 2000 2000 2000 2001
Finished goods 0.0 2.9 3.6 2.3 2.0 2.9 4.9
Finished consumer foods .1 .8 1.7 3.3 -1.2 2.4 10.6
Finished energy goods -11.7 18.1 17.1 6.5 6.4 13.8 10.8
Finished goods less foods
and energy 2.5 .9 1.2 1.1 2.5 0 1.9
Finished consumer goods
excluding foods and energy 4.2 1.2 1.2 1.3 2.4 .3 2.9
Capital equipment 0 .3 1.2 1.5 1.7 .3 0
Intermediate materials,
supplies, and components -3.3 3.7 4.1 3.1 2.8 1.5 1.5
Intermediate foods and feeds -7.3 -4.2 3.5 7.0 -7.9 10.1 2.8
Intermediate energy goods -12.1 19.6 19.5 4.5 20.8 11.0 2.2
Intermediate materials less
foods and energy -1.6 1.9 1.6 2.7 .3 -.6 1.8
Materials for nondurable
manufacturing -5.3 4.0 4.1 7.2 .3 -.3 6.4
Materials for durable
manufacturing -5.5 2.4 .6 -1.2 0 -3.7 -4.3
Materials and components
for construction .1 2.2 .1 -.8 -2.1 -.5 .3
Crude materials for further
processing -16.7 15.3 31.6 47.9 4.9 39.8 -14.9
Foodstuffs and feedstuffs -11.0 -.1 7.2 -7.3 -8.2 36.0 15.2
Crude energy materials -23.8 36.9 76.0 163.6 20.0 64.0 -31.0
Crude nonfood materials
less energy -16.0 14.0 -5.8 -11.9 -8.8 -10.2 -12.4
NOTE: Late reports and corrections by respondents may cause some indexes to
change 4 months after original publication. In addition, seasonally
adjusted indexes may be revised for 5 years, due to the recalculation of
seasonal factors each January.
-3-
Before seasonal adjustment, the Producer Price Index for Finished
Goods fell 0.4 percent in March to stand at 141.0 (1982=100). From March
2000 to March 2001, the Finished Goods Index increased 3.1 percent. Over
the same period, the index for finished energy goods advanced 9.7 percent,
prices for finished consumer foods increased 3.6 percent, and the index for
finished goods other than foods and energy gained 1.4 percent. Prices
received by domestic producers of intermediate goods rose 2.3 percent for
the 12 months ended in March 2001, and the index for crude goods jumped
16.5 percent during the same period.
Finished goods
Prices for finished energy goods fell 2.6 percent in March, following
a 1.4-percent gain in February. After registering a 9.2-percent increase
in February, the index for liquefied petroleum gas declined 16.4 percent.
Prices for residential natural gas and finished lubricants also turned down
in March, after rising in the previous month. March's index for
residential electric power increased at a slower rate than it did in
February. Prices for home heating oil fell more in March than they did in
the prior month. By contrast, gasoline prices moved up 0.5 percent in
March, following a 0.8-percent decline in February.
Table B. Monthly and annual percent changes in selected price indexes for
intermediate goods and crude goods, seasonally adjusted
__________________________________________________________________________________
| | | |
| | Intermediate goods | Crude goods |
| | | |
| |---------------------------------------------------------------------------|
| | | | |Change in | | | | Change |
| | | | | interme- | | | |in crude |
| | | | | diate | | | | goods |
| | | | |goods from| | | | from 12 |
| | | |Excluding|12 months | | |Excluding| months |
| | | |foods and|months ago| | Energy |foods and| ago |
|Month | Foods | Energy | energy | (unadj.) | Foods | (unadj.)| energy |(unadj.) |
|----------------------------------------------------------------------------------|
2000
Mar. 1.0 4.0 0.4 5.9 2.6 2.3 -0.5 26.9
Apr. .8 -2.5 .4 5.3 1.4 -4.5 -.7 22.2
May .9 -1.1 .1 5.0 -.9 8.8 -.7 19.0
June 0 4.9 .1 5.5 -2.3 22.6 -1.8 29.0
July -.6 1.0 .2 5.2 -1.9 -2.3 -1.5 25.3
Aug. -2.0 -.5 -.1 4.3 -3.9 -4.1 -1.6 14.7
Sept. .6 4.3 0 4.6 3.8 11.7 .8 17.4
Oct. .6 1.1 0 4.6 3.1 5.9 -.8 25.3
Nov. r.2 r-.2 -.1 4.2 r1.2 r-2.7 r-2.1 r17.6
Dec. r1.6 r1.7 r-.1 4.1 r3.5 r9.8 r.1 31.6
2001
Jan. 1.7 3.1 .2 4.4 2.2 25.0 .5 46.5
Feb. -1.5 -1.1 .1 3.5 -1.6 -23.3 -2.5 20.8
Mar. .5 -1.4 .1 2.3 3.0 -4.9 -1.3 16.5
r=revised. Some of the figures shown above and elsewhere in this release may
differ from those previously reported because data for November 2000 have been
revised to reflect the availability of late reports and corrections by respondents.
-4-
The index for finished consumer goods other than foods and energy rose
0.3 percent in March, after decreasing 0.4 percent in February. Prices for
light motor trucks increased 0.5 percent, following a 3.6-percent drop in
the previous month. The indexes for passenger cars, alcoholic beverages,
and for sanitary papers and health products also turned up in March.
Prescription drug prices rose more in March than they did in February. On
the other hand, the index for floor coverings moved down 2.8 percent in
March, after increasing 1.4 percent in the prior month. March prices for
women's apparel and pet food also turned down, after rising a month
earlier. The index for household appliances fell more than it did in
February. During the first quarter of 2001, the index for finished
consumer goods other than foods and energy increased at a SAAR of 2.9
percent, following a 0.3-percent rate of increase in the final quarter of
2000.
Prices for finished consumer foods advanced 1.1 percent in March,
following a 0.6-percent gain in February. The dairy products index rose
2.2 percent, after registering a 0.7-percent decrease a month ago. Price
increases for pork and bakery products accelerated from February to March.
The indexes for fresh fruits and melons and for soft drinks turned up,
following declines in the prior month. Beef and veal prices moved up in
March, after showing no change in the previous month. On the other hand,
the finfish and shellfish index posted a 5.3-percent drop in March,
following a 9.3-percent advance in February. Prices for processed young
chickens and for fresh and dry vegetables rose less in March they did a
month earlier. The indexes for eggs for fresh use, processed fruits and
vegetables, and processed turkeys turned down, after increasing in the
previous month.
The capital equipment index showed no change in March, after
decreasing 0.3 percent in February. Price increases for passenger cars,
light motor trucks, civilian aircraft, heavy motor trucks, and commercial
furniture were offset by falling prices for electronic computers; tools,
dies, jigs, fixtures, and industrial molds; office and store machines and
equipment; pumps, compressors, and equipment; and x-ray and electromedical
equipment. The capital equipment index showed no change on a seasonally
adjusted annual rate basis during the first quarter of 2001, following a
0.3-percent rate of increase in the final quarter of 2000.
Intermediate goods
The Producer Price Index for Intermediate Materials, Supplies, and
Components declined 0.2 percent in March, seasonally adjusted, after edging
down 0.1 percent in February. Decreasing prices for intermediate energy
goods, nondurable manufacturing materials, and durable manufacturing
materials outweighed increasing prices for intermediate foods and feeds and
materials and components for construction. Excluding foods and energy, the
index for intermediate materials, supplies, and components inched up 0.1
percent for the second consecutive month. (See table B.)
Prices for intermediate energy goods fell 1.4 percent in March, after
dipping 1.1 percent in February. The commercial natural gas index dropped
8.7 percent, following a 13.5-percent rise a month earlier. Liquefied
petroleum gas prices also turned down in March. The indexes for industrial
natural gas and diesel fuel decreased more in March than they did in the
previous month. By contrast, commercial electric power prices increased
2.6 percent in March, after declining 2.6 percent in the prior month. The
indexes for industrial electric power, gasoline, and jet fuels also turned
up, following February decreases. Price declines slowed from February to
March for natural gas to electric utilities and residual fuels. The
intermediate energy goods index advanced at a 2.2-percent SAAR from
December 2000 to March 2001, after registering an 11.0-percent rate of
increase during the previous three months.
-5-
Prices for nondurable manufacturing materials fell 0.3 percent in
March, following a 0.7-percent gain in the prior month. Leading this
deceleration, the index for primary basic organic chemicals declined 9.2
percent, after rising 2.8 percent in February. Prices for basic inorganic
chemicals and synthetic fibers also moved down, following increases a month
earlier. The fertilizer materials index advanced less in March than it did
in the previous month. The rate of decrease in prices for woodpulp and
intermediate basic organic chemicals quickened in March. Conversely, the
paperboard index dipped 0.3 percent, after posting a 1.6-percent drop in
February. Paper prices increased, after showing no change in the prior
month. The indexes for paint materials and medicinal and botanical
chemicals turned up, following February declines. Prices for nondurable
manufacturing materials rose at a seasonally adjusted annual rate of 6.4
percent during the first quarter of 2001, after falling at a 0.3-percent
annual rate for the previous quarter.
The index for durable manufacturing materials decreased at a 0.2-
percent rate in March, the same rate of decline observed in February.
Falling prices for steel mill products, copper and brass mill shapes,
primary aluminum (except extrusion billet), copper cathode and refined
copper, and silver outweighed rising prices for plywood, prepared paint,
aluminum mill shapes, gold, and flat glass. From December 2000 to March
2001, the index for materials for durable manufacturing decreased at a 4.3-
percent SAAR, following a 3.7-percent annual rate of decline during the
final quarter of 2000.
Intermediate foods and feeds prices turned up 0.5 percent in March,
after falling 1.5 percent in February. The index for fluid milk products
gained 1.8 percent, following a 3.5-percent decrease in the previous month.
Prices for crude vegetable oils also rose, after declining in February.
The index for prepared animal feeds fell less in March than it did a month
earlier. Beef and veal prices advanced, after showing no change in
February, while the pork index increased at a faster rate than in the prior
month. By contrast, a 2.1-percent drop in refined sugar prices was
registered in March, following a 2.5-percent rise in the previous month.
During the first quarter of 2001, the intermediate foods and feeds index
advanced at a 2.8-percent SAAR, after increasing at a 10.1-percent annual
rate during the prior quarter.
In March, the index for materials and components for construction
edged up 0.1 percent, following a 0.3-percent gain a month earlier.
Advancing prices for gypsum products, plywood, softwood lumber, millwork,
and metal valves (except fluid power) more than offset declining prices for
plastic construction products, fabricated structural metal products,
heating equipment, nonferrous wire and cable, and steel wire. From
December 2000 to March 2001, the index for materials and components for
construction increased at a 0.3-percent SAAR, after decreasing at a 0.5-
percent annual rate for the previous quarter.
Crude Goods
The Producer Price index for Crude Materials for Further Processing
fell 1.7 percent in March, seasonally adjusted, following a 14.2-percent
decline in February. Prices for crude energy materials decreased less in
March than they did in the previous month. The crude foodstuffs and
feedstuffs index turned up, after falling in the prior month. Basic
industrial materials prices declined at a slower rate in March than they
did in February. (See table B.)
Prices for crude energy materials posted a 4.9-percent decrease in
March, following a 23.3-percent decline in February. The natural gas index
fell 4.7 percent, after dropping 34.7 percent in the prior month. On the
other hand, crude petroleum prices decreased 7.1 percent, after gaining 2.7
percent a month ago. The coal index declined 0.4 percent, after rising
12.8 percent in February. Prices for crude energy materials fell at a 31.0-
percent SAAR from December 2000 to March 2001, following a 64.0-percent
annual rate of increase from September 2000 to December 2000.
-6-
The crude foodstuffs and feedstuffs index advanced 3.0 percent in
March, following a 1.6-percent decline in the prior month. Prices for
slaughter hogs posted a 13.8-percent increase, after falling 3.9 percent in
the previous month. The indexes for corn, fluid milk, soybeans, and wheat
turned up, after decreasing in February. Slaughter cattle prices rose more
in March than they did in February. By contrast, the index for unprocessed
finfish dropped 28.2 percent, after gaining 49.8 percent in February.
Prices for raw cane sugar, alfalfa hay, and slaughter turkeys turned down,
after advancing in the prior month. The indexes for slaughter broilers and
fryers and fresh vegetables, except potatoes increased at a slower rate in
March than they did in February. From December 2000 to March 2001, prices
for crude foodstuffs and feedstuffs rose at a 15.2-percent SAAR, following
a 36.0-percent annual rate of increase in the final quarter of 2000.
The index for basic industrial materials fell 1.3 percent, following a
2.5-percent decline in February. Wastepaper prices decreased 4.0 percent,
after falling 8.3 percent in the previous month. The indexes for iron and
steel scrap, gold ores, and aluminum base scrap turned up, after declining
in February. Prices for softwood logs, bolts, and timber decreased at a
slower rate in March than they did in February. On the other hand, the
index for raw cotton posted a 16.4-percent decline, after falling 4.1
percent a month ago. Prices for leaf tobacco turned down, after rising in
February. The index for copper base scrap fell more than it did in the
previous month. Prices for construction sand, gravel, and crushed stone
and pulpwood rose at a slower rate in March than they did in February. The
basic industrial materials index fell at a 12.4-percent SAAR from December
2000 to March 2001, following a 10.2-percent rate of decrease in the final
quarter of 2000.
Net output price indexes for mining, manufacturing, and services industries
Mining. The Producer Price Index for the Net Output of Total Mining
Industries declined 5.4 percent in March, after falling 19.1 percent in the
previous month. (Net output price indexes are not seasonally adjusted.)
Dominating this slowdown in the rate of decrease in mining industry prices,
the index for the crude petroleum, natural gas, and natural gas liquids
industry fell 6.9 percent, following a 23.5-percent drop in February. Also
contributing, prices received by the gold ores industry turned up 2.9
percent, after declining 1.7 percent in the prior month. The index for the
copper ores industry decreased less than it did a month earlier. By
contrast, prices received by the bituminous coal and lignite industry edged
down 0.4 percent, following an 8.9-percent jump in February. The index for
the oil and gas well drilling industry gained less in March than it did in
the previous month. From December 2000 to March 2001, the Producer Price
Index for the Net Output of Total Domestic Mining Industries declined at a
23.2-percent annual rate, after rising at a 57.1-percent rate in the prior
calendar quarter. In March 2001, this index stood at 130.7 (December
1984=100), 32.2 percent above its year-ago level.
Manufacturing. The Producer Price Index for the Net Output of Total
Manufacturing Industries edged down 0.1 percent in March, after showing no
change in February. Declining prices paid to the industry groups for
petroleum refining and related products; measuring and controlling
instruments; textile mill products; electrical and electronic machinery,
equipment, and supplies; and primary metal industries slightly outweighed
advancing prices paid to the industry groups for food and kindred products;
chemicals and allied products; rubber and miscellaneous plastic products;
printing, publishing, and allied industries; and lumber and wood products
(except furniture). During the first quarter of 2001, the Producer Price
Index for the Net Output of Total Domestic Manufacturing Industries
advanced at a 0.6-percent annual rate, following a 0.9-percent annual rate
of decline from September 2000 to December 2000. In March 2001, this index
stood at 134.6 (December 1984=100), 1.3 percent above its year-ago level.
-7-
Services. Among service industries in March, rising prices were registered
by the industries for operators and lessors of nonresidential buildings,
offices of physicians, property and casualty insurance, scheduled air
transportation, general medical and surgical hospitals, and hotels and
motels. By contrast, prices received by the industries for deep sea
foreign transportation of freight, wireless telecommunications, real estate
agents and managers, trucking (except local), specialty hospitals (except
psychiatric), and home health care services fell in March.
*****
Producer Price Index data for April 2001 will be
released on Friday, May 11, 2001 at 8:30 a.m. (E.D.T.)
Bureau of Labor Statistics
mailto:ppi-info@bls.gov
Last modified:
Thursday, April 12, 2001
URL: /news.release/ppi.nr0.htm
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Producer Price Indexes