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PRODUCER PRICE INDEXES
MAY 1997
Monthly And Annual Percent
Change
Finished Goods
Intermediate Goods
Crude Goods
The Producer Price Index for Finished Goods fell 0.3 percent in
May, seasonally adjusted, the Bureau of Labor Statistics of the U. S. Department
of Labor reported today. This was the fifth consecutive monthly decline.
The index for finished goods decreased 0.6 percent in April and 0.1 percent
in March. Prices received by domestic producers of intermediate goods moved
down 0.2 percent in May after declining 0.3 percent in the previous month.
The Crude Goods Price Index increased 1.3 percent in May following a 0.9-
percent decrease in April.
Prices for finished goods other than foods and energy fell 0.3 percent after dropping 0.1 percent in April. The index for finished energy goods fell less than in April. Prices for finished consumer foods turned up after declining in the previous month.
Monthly And Annual
Percent Change
In Selected Indices
May 97 Apr 97 Mar 97 May 96 Finished Goods Total - 0.3 -0.6 -0.1 0.2 Foods 0.4 -0.4 0.9 0.2 Energy - 2.1 -2.6 -3.4 -0.6 Ex Food & Energy - 0.3 -0.1 0.4 0.2 Change from 12 mos ago 0.3 0.8 1.6 2.3 Intermediate Goods Total - 0.2 -0.3 -0.6 0.4 Foods 0.5 0.4 1.4 3.8 Energy - 1.9 -2.0 -4.6 0.6 Ex Food & Energy 0.0 0.0 0.0 0.1 Change from 12 mos ago - 0.7 -0.1 0.6 0.7 Crude Goods Total 1.3 -0.9 -6.9 1.1 Foods - 0.3 3.3 2.1 -4.6 Energy 3.4 -5.2 -19.2 -4.6 Ex Food & Energy 1.2 -2.3 0.6 0.7 Change from 12 mos ago - 4.6 -4.8 0.3 12.7
Before seasonal adjustment, the Producer Price Index for Finished Goods edged down 0.1 percent to 131.5 (1982=100). From May 1996 to May 1997, the Finished Goods Price Index rose 0.3 percent. Over the same period, prices for finished consumer foods increased 2.7 percent, the index for finished energy goods declined 3.1 percent, and prices for finished goods other than foods and energy were up 0.1 percent. Prices received by domestic producers of intermediate goods decreased 0.7 percent for the 12 months ended in May, and the index for crude goods fell 4.6 percent during this same period.
The Producer Price Index for finished consumer foods increased 0.4 percent
in May following a 0.4-percent decline in April. Prices for finfish and
shellfish rose 7.9 percent in May after falling 5.0 percent during the
prior month. Prices for fresh and dry vegetables, fresh fruits and melons,
and beef and veal also turned up after falling in the previous month. The
index for eggs for fresh use declined less than in April. By contrast,
the index for pork increased 3.2 percent following a gain of 5.6 percent
in April. Prices for dairy products, processed young chickens, and for
processed fruits and vegetables fell more than in the prior month. The
index for soft drinks turned down after increasing in April. The index
for capital equipment declined 0.2 percent in May following a 0.4-percent
decrease in April. The indexes for light motor trucks, heavy motor trucks,
and electronic computers fell in May by more than in the previous month.
Prices for x-ray equipment were unchanged after rising in April. By contrast,
prices for civilian aircraft increased 0.4 percent following a 2.0-percent
decline a month earlier. The indexes for railroad equipment, tools and
dies, and textile machinery also turned up after falling a month ago. Prices
for commercial furniture rose 0.2 percent after increasing 0.5 percent
in the prior month.
The index for finished consumer goods excluding foods and energy moved
down 0.3 percent in May after showing no change in April. Prices for passenger
cars decreased 1.6 percent after declining 0.5 percent in the prior month.
The index for sanitary papers also fell more than a month ago. Prices for
periodical circulation, soaps and detergents, alcoholic beverages, newspaper
circulation, tires and tubes, and mobile homes turned down following increases
in the prior month. The index for tobacco products rose less than in April.
By contrast, prices for prescription drugs rose 0.4 percent following a
0.7 percent decline a month ago. The indexes for women's apparel, men's
and boys' apparel, household appliances, and floor coverings also turned
up after decreasing in April. Prices for sporting goods rose less than
in the prior month.
The index for finished energy goods declined 2.1 percent in May following a 2.6-percent decline in April. Prices for residential natural gas decreased 1.3 percent in May after falling 3.3 percent in the prior month. The index for finished lubricants turned up 1.8 percent after decreasing 3.7 percent in the previous month. Prices for residential electric power showed no change after declining in April. Home heating oil prices rose 2.2 percent in May following a 1.4-percent advance in the prior month. Gasoline prices, however, fell 7.1 percent after declining 4.1 percent a month ago.
The Producer Price Index for Intermediate Materials, Supplies, and Components declined 0.2 percent in May, seasonally adjusted, after declining 0.3 percent in April. Price decreases for intermediate energy goods outweighed increases for construction materials, nondurable manufacturing materials, intermediate foods and feeds, and durable manufacturing materials. Excluding food and energy, the intermediate materials index showed no change for the third consecutive month.
The index for intermediate energy materials declined 1.9 percent in May following a 2.0-percent decline in April. Price decreases for gasoline, liquefied petroleum gas, commercial and industrial electric power, jet fuels, and No. 2 diesel fuel more than offset price increases for residual fuel, natural gas to electric utilities, and commercial natural gas.
The index for durable manufacturing materials advanced 0.2 percent in May following a 0.1-percent decline in April. Prices for copper cathode and refined copper increased 5.1 percent after a 6.7- percent decrease a month ago. The indexes for copper and brass mill shapes, refined gold, and refined silver bar also turned up after falling a month earlier. Prices for plywood fell less than in the previous month. The index for hot rolled sheet and strip was unchanged after turning down last month. By contrast, the index for hot rolled bars, plates, and structural shapes declined 1.1 percent following a 0.6-percent advance in April. Prices for aluminum mill shapes, cement, and cold finished bars also fell after rising a month ago.
The index for intermediate foods and feeds advanced 0.5 percent in May following a 0.4-percent advance in April. Price increases for prepared animal feeds, pork, beef and veal, crude vegetable oils, and liquid milk products outweighed price decreases for dry milk products, fluid milk products, refined sugar, and for natural, processed, and imitation cheese.
The index for nondurable manufacturing materials advanced 0.2 percent
in May following a 0.2-percent decline in April. Prices for paperboard
increased 1.2 percent after a 2.7-percent decrease a month earlier. The
indexes for inedible fats and oils, alkalies and chlorine, woodpulp, and
paint materials also turned up after moving down in the previous month.
Prices for primary basic organic chemicals fell less than in the prior
month. By contrast, prices for paper advanced 0.6 percent following a 1.2-percent
advance in April. The indexes for nitrogenates and leather fell after rising
a month ago. Prices for medicinal and botanical chemicals rose less than
in the prior month.
The index for construction materials advanced 0.4 percent following a 0.3-percent gain in April. Price increases for fabricated structural metal products, softwood lumber, plastic construction products, gypsum products, millwork, nonferrous wire and cable, and wiring devices more than offset decreases for plywood, cement, and metal valves (except fluid power).
The Producer Price Index for Crude Materials for Further Processing increased 1.3 percent, seasonally adjusted, following a 0.9-percent decline in April. The indexes for energy materials and basic industrial materials also turned up after falling last month. By contrast, the index for foodstuffs and feedstuffs turned down after rising a month earlier.
The index for crude energy materials rose 3.4 percent following a 5.2-percent
decline in April. Prices for natural gas increased 5.8 percent after declining
13.3 percent in the prior month. The index for crude petroleum also turned
up after falling a month ago. By contrast, prices for coal turned down
6.4 percent after rising 5.2 percent in April.
The index for crude foodstuffs and feedstuffs declined 0.3 percent following
a 3.3-percent advance in April. Prices for slaughter broilers and fryers
fell 10.3 percent after increasing 13.5 percent a month ago. The index
for wheat also turned down after rising in the previous month. Prices for
slaughter hogs and slaughter cattle increased less than a month ago. By
contrast, the index for soybeans rose 5.1 percent after falling 3.5 percent
in the prior month. Prices for unprocessed finfish, fresh fruits and melons,
and fresh and dry vegetables also turned up after falling in April. The
index for crude nonfood materials less energy increased 1.2 percent following
a 2.3-percent decline in April. Prices for iron and steel scrap increased
2.7 percent after declining 3.2 percent a month ago. The indexes for nonferrous
metal ores, copper ores, raw cotton, copper base scrap, and for softwood
logs, bolts and timber also turned up after falling in the prior month.
By contrast, the index for iron ore declined 4.5 percent after showing
no change in April. Prices for phosphates also declined after showing no
change in the previous month. The index for cattle hides turned down after
rising a month ago.
June 13, 1997
U.S. Department of Labor
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