9:49 a.m.
Friday, 21 July 2017

The PPI for finished goods rises 0.2% in January

El Centro, California.- The Producer Price Index for finished goods advanced 0.2 percent in January, seasonally adjusted, the U.S. Bureau of Labor Statistics reported today.

Prices for finished goods declined 0.3 percent in December and 0.4 percent in November. At the earlier stages of processing, the index for intermediate goods was unchanged in January, and crude goods prices increased 0.8 percent. On an unadjusted basis, the finished goods index advanced 1.4 percent for the 12 months ended January 2013.

Finished goods

In January, over three quarters of the rise in finished goods prices can be attributed to the index for finished consumer foods, which advanced 0.7 percent. Also contributing to the increase in finished goods prices, the index for finished goods less foods and energy rose 0.2 percent. By contrast, prices for finished energy goods fell 0.4 percent.

Finished foods: The index for finished consumer foods rose 0.7 percent in January after a 0.8- percent decline in December. This advance was led by a 39.0-percent jump in prices for fresh and dry vegetables. Increases in the indexes for soft drinks and for candy and nuts also contributed to higher prices for finished consumer foods.

Finished core: Prices for finished goods less foods and energy moved up 0.2 percent in January, the third straight increase. Most of the January advance can be traced to a 2.5-percent rise in the index for pharmaceutical preparations. Higher prices for communication and related equipment also contributed to the increase in the finished core index.

Finished energy: The index for finished energy goods moved down 0.4 percent in January, the fourth straight decrease. The January decline is mostly attributable to prices for gasoline, which fell 2.1 percent.

Intermediate goods

The Producer Price Index for intermediate materials, supplies, and components was unchanged in January after edging up 0.1 percent in December. In January, a 0.3-percent rise in prices for intermediate goods less foods and energy offset declines of 1.3 percent for the intermediate foods and feeds index and 0.3 percent for intermediate energy goods prices. For the 12 months ended in January, the intermediate goods index increased 0.4 percent.

Intermediate core: Prices for intermediate goods less foods and energy moved up 0.3 percent in January, the same as in December. About thirty percent of the January rise can be traced to the index for primary basic organic chemicals, which climbed 2.0 percent. Higher prices for thermoplastic resins and materials and for lumber also contributed to the increase in the intermediate core index.

Intermediate foods: The index for intermediate foods and feeds fell 1.3 percent in January, the largest decrease since a 1.3-percent drop in October 2011. Over half of the January decline is attributable to prices for prepared animal feeds, which moved down 3.1 percent. A decrease in the index for processed eggs also was a factor in the decline in the intermediate foods index.

Intermediate energy: Prices for intermediate energy goods fell 0.3 percent in January after no change in December. Leading this decline, the index for industrial electric power decreased 6.5 percent.

Crude goods

The Producer Price Index for crude materials for further processing moved up 0.8 percent in January. For the 3 months ended in January, crude materials prices rose 2.6 percent following a 6.4-percent advance from July to October. The January monthly increase is attributable to the crude energy materials index, which climbed 2.3 percent. By contrast, prices for crude foodstuffs and feedstuffs and for crude nonfood materials less energy declined 0.4 percent and 0.3 percent, respectively.

Crude energy: The index for crude energy materials increased 2.3 percent in January. For the 3- month period ended in January, prices for crude energy materials moved up 4.7 percent subsequent to a 9.5- percent jump for the 3 months ended October 2012. In January, the monthly advance in the crude energy index was the result of prices for crude petroleum, which climbed 8.1 percent. (See table 2.)

Crude foods: The index for crude foodstuffs and feedstuffs moved down 0.4 percent in January. From October to January, prices for crude foods rose 0.7 percent after increasing 6.4 percent in the 3 months ended October 2012. Leading the January monthly decline, the oilseeds index fell 7.0 percent. Lower prices for corn also were a factor in the decrease in the crude foodstuffs and feedstuffs index.

Crude core: The index for crude nonfood materials less energy declined 0.3 percent in January. For the 3 months ended in January, crude core prices moved up 2.4 percent following a 1.8- percent rise from July to October. Leading the January monthly decrease, the index for nonferrous scrap moved down 2.3 percent. Lower prices for gold ores also contributed to the decline in the crude core index.

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