Intermediate goods
The Producer Price Index for Intermediate Materials, Supplies, and
Components rose 1.1 percent in May following a 0.9-percent increase in
April. Prices for intermediate energy goods and materials for nondurable
manufacturing advanced more than they had in the previous month. By
contrast, partially offsetting the acceleration in intermediate goods
prices, the indexes for materials for durable manufacturing, materials and
components for construction, and intermediate foods and feeds rose less
than they had in the prior month. Excluding foods and energy, prices for
intermediate goods moved up 0.4 percent in May after rising 0.8 percent a
month earlier. (See table B.)
The intermediate energy goods index climbed 4.2 percent following a
1.3-percent increase in the preceding month. Jet fuel prices rose 3.0
percent after falling 2.1 percent in April. The indexes for natural gas to
electric utilities, residual fuel, and both industrial and commercial
natural gas also turned up in May following decreases in the prior month.
Prices for gasoline, industrial electric power, and liquefied petroleum gas
rose more than they had a month earlier. By contrast, diesel fuel prices
fell 1.6 percent after moving up 1.7 percent in April. The commercial
electric power and home heating oil indexes advanced less in May than they
had in the previous month. (See table 2.)
The index for materials for nondurable manufacturing increased 2.9
percent after edging up 0.1 percent a month earlier. Prices for basic
organic chemicals rose 3.3 percent in May following a 0.3-percent gain in
the preceding month. The inedible fats and oils index also advanced more
than it had in the prior month. Prices for plastic resins and materials
turned up after declining in April, and the woodpulp index increased after
no change a month earlier. By contrast, prices for nitrogenates moved down
0.3 percent following a 4.1-percent jump in the previous month. The
indexes for phosphates and paperboard also turned down in May. Prices for
paper fell more than they had in the prior month, and the index for paint
materials rose less than in April.
-4-
The materials for durable manufacturing index edged up 0.2 percent
following a 3.7-percent increase in April. Prices for primary nonferrous
metals advanced 1.5 percent after climbing 10.8 percent in the previous
month. The indexes for steel mill products, copper and brass mill shapes,
and building paper and board fell following advances a month earlier.
Softwood lumber prices decreased more than they had in the preceding month.
By contrast, prices for thermoplastic resins rose 3.8 percent in May after
falling 2.2 percent in the prior month. The secondary aluminum and
prepared paint indexes also turned up following declines a month earlier.
Cement prices increased more than they had in April.
The index for materials and components for construction advanced 0.3
percent after rising 0.6 percent in the preceding month. The nonferrous
wire and cable index climbed 3.9 percent subsequent to an 8.4-percent jump
a month earlier. Prices for steel mill products and for paving mixtures
and blocks turned down in May following increases in April. The millwork
index decreased after no change in the previous month. Prices for gypsum
products and softwood lumber fell more than they had in the prior month.
By contrast, the fabricated structural metal products index advanced 0.4
percent after no change in April. Prices for concrete products also rose
following no change a month earlier. Treated wood prices turned up after
falling in the preceding month. The indexes for asphalt felts and coatings
and for mineral wool for structural insulation declined less in May than
they had a month earlier.
Prices for intermediate foods and feeds inched up 0.1 percent
following a 0.5-percent increase in April. The beef and veal index
advanced 1.0 percent after moving up 2.4 percent in the previous month.
Flour prices also rose less in May than they had a month earlier. The
index for prepared animal feeds decreased more than it had in April, and
prices for processed young chickens turned down in May after advancing in
the prior month. By contrast, prices for dairy products climbed 4.5
percent subsequent to a 1.6-percent increase in April. The index for
shortening and cooking oils also rose more than it had in the preceding
month. Prices for pork and for sausage and deli meats turned up in May
after declining in the previous month.
Crude goods
The Producer Price Index for Crude Materials for Further Processing
increased 2.0 percent in May after falling 1.5 percent in the preceding
month. This reversal can be traced to the index for crude energy
materials, which rose following a decline in April. By contrast, slightly
counteracting the upturn in crude goods prices, the indexes for crude
foodstuffs and feedstuffs and for crude nonfood materials less energy
advanced less in May than they had in April. (See table B.)
Prices for crude energy materials jumped 4.3 percent in May after
dropping 4.9 percent in the prior month. This upturn is attributable to
the natural gas index, which climbed 6.6 percent following a 13.0-percent
decrease in April. By contrast, crude petroleum prices moved up 1.9
percent in May compared with a 7.9-percent rise a month earlier. For the
second consecutive month, the coal index inched up at a 0.2-percent rate.
(See table 2.)
The index for crude foodstuffs and feedstuffs increased 1.1 percent in
May after advancing 1.3 percent in April. In May, higher prices for fluid
milk, slaughter broilers and fryers, corn, soybeans, and fresh fruits and
melons outweighed lower prices for fresh and dry vegetables, slaughter
hogs, and unprocessed shellfish.
The index for crude nonfood materials less energy edged up 0.1 percent
in May following a 0.4-percent increase in April. In May, rising prices
for copper base scrap, wastepaper, aluminum base scrap, and for
construction sand, gravel, and crushed stone slightly outweighed declining
prices for iron and steel scrap, raw cotton, gold ores, and for hardwood
logs, bolts, and timber.
-5-
Net output price indexes
Mining, Utilities, and Manufacturing Industries. In May, the Producer
Price Index for the Net Output of Total Mining, Utilities, and
Manufacturing Industries advanced 1.2 percent for the second consecutive
month. (Net output price indexes are not seasonally adjusted.) In May,
higher prices were received by the manufacturing industry groups for
petroleum and coal products, foods, chemicals, fabricated metal products,
and electrical equipment and appliances. The indexes for electric power
distribution and for oil and gas extraction also moved up in May. These
increases outweighed lower prices received by the electric power generation
industry and by the computer and electronic products industry group.
Trade Industries. The Producer Price Index for the Net Output of Total
Trade Industries rose 2.0 percent in May compared with a 1.2-percent
increase in April. (Trade indexes measure changes in margins received by
wholesalers and retailers.) Margins received by gasoline stations jumped
43.3 percent in May following a 3.8-percent gain in the prior month. The
margin indexes for merchant wholesalers of nondurable goods; sporting
goods, hobby, and musical instrument stores; and health and personal care
stores turned up in May. Margins received by building material and
supplies dealers increased after no change in April. By contrast,
partially offsetting the acceleration in the trade industries index, the
margin index for electronics and appliance stores fell 0.9 percent in May
following an 18.9-percent gain in the previous month. Margins received by
department stores, shoe stores, and fuel dealers also turned down in May.
The margin index for merchant wholesalers of durable goods increased less
than it had in April.
Transportation and Warehousing Industries. The Producer Price Index for
the Net Output of Transportation and Warehousing Industries edged down 0.1
percent in May after rising 1.6 percent in April. Prices received by the
scheduled passenger air transportation industry fell 8.4 percent following
a 7.3-percent increase in the preceding month. The industry indexes for
long distance general freight trucking (by the truckload), general
warehousing and storage, and long distance specialized freight trucking of
new goods also turned down in May. Prices received by the line-haul
railroads industry rose less than they had a month earlier. By contrast,
prices received by the United States Postal Service moved up 6.5 percent in
May after remaining unchanged in the preceding month. The industry index
for scheduled freight air transportation also rose following no change in
April. Prices received by the local general freight trucking industry
increased more in May than they had a month earlier. The industry indexes
for freight transportation arrangement and local specialized freight
trucking of new goods turned up following declines in April.
|
Mode linéaire
