In April, the index for finished goods other than foods and energy moved up 0.4 percent and was partially offset by prices for energy goods, which fell 0.2 percent. The index for finished consumer foods was unchanged from its March level.
Before seasonal adjustment, the Producer Price Index for Finished Goods increased 0.7 percent in April to 176.7 (1982 = 100). From April 2007 to April 2008, finished goods prices rose 6.5 percent. Over the same period, the finished energy goods index advanced 17.5 percent, prices for finished goods less foods and energy increased 3.0 percent, and the index for finished consumer foods climbed 5.2 percent. For the 12 months ended April 2008, prices received by manufacturers of intermediate goods advanced 10.5 percent, and the crude goods index jumped 34.3 percent.
Finished goods
The index for finished goods less foods and energy moved up 0.4 percent in April following a 0.2-percent increase in the previous month. Prices for light motor trucks rose 1.3 percent after decreasing 0.3 percent in March. The indexes for commercial furniture and passenger cars also turned up in April following declines in the preceding month. Prices for pharmaceutical preparations, alcoholic beverages, and household furniture rose more than they had in March. By contrast, partially offsetting the acceleration in the index for finished goods less foods and energy, prices for communication and related equipment declined 0.4 percent after rising by the same rate in the prior month. The index for book publishing also turned down in April, and prices for soaps and synthetic detergents increased less than in March.
The finished energy goods index fell 0.2 percent in April subsequent to a 2.9-percent rise a month earlier. Gasoline prices decreased 4.6 percent following a 1.3-percent gain in March. (Prior to seasonal adjustment, gasoline prices increased 3.2 percent in April.) The diesel fuel index also turned down in April after rising in the preceding month. The indexes for home heating oil, liquefied petroleum gas, kerosene, and asphalt advanced less than they had in March. Conversely, residential natural gas prices climbed 5.4 percent in April after increasing 4.2 percent in the prior month. The indexes for residential electric power and for lubricating and similar oils also rose more than they had in March.
The index for finished consumer foods was unchanged in April following a 1.2-percent rise in the prior month. Prices for fresh and dry vegetables dropped 4.1 percent after jumping 15.4 percent in March. The indexes for beef and veal and for roasted coffee also turned down in April. Prices for eggs for fresh use decreased more than they had in March. By contrast, the dairy products index rose 0.4 percent in April following a 1.8-percent decline a month earlier. Prices for pork and soft drinks also turned up after declining a month earlier. The index for confectionery end products rose more than in March.
Intermediate goods
The Producer Price Index for Intermediate Materials, Supplies, and Components increased 0.9 percent in April after rising 2.3 percent in March. Leading this deceleration, prices for intermediate energy goods and for materials for durable manufacturing advanced less in April than in the prior month. Prices for intermediate foods and feeds turned down after increasing in March. By contrast, partially offsetting the overall deceleration in the intermediate goods index, prices for materials for nondurable manufacturing and for materials and components for construction increased at faster rates than they had in March. The index for intermediate goods other than foods and energy climbed 1.2 percent in April following a 1.1-percent jump in the preceding month.
The index for intermediate energy goods advanced 0.5 percent in April following a 5.9- percent jump in March. Jet fuel prices rose 6.8 percent in April compared with a 10.2-percent surge a month earlier. The indexes for home heating oil, industrial electric power, natural gas to electric utilities, and industrial natural gas also increased less than in March. Prices for diesel fuel, gasoline, and residual fuel turned down in April. By contrast, the index for finished lubricants rose 2.9 percent after advancing 1.3 percent in March.
The index for materials for durable manufacturing moved up 1.9 percent in April following a 3.8-percent increase in March. Prices for copper and brass mill shapes rose 0.4 percent in April after advancing 6.9 percent in the preceding month. The indexes for cold rolled steel sheet and strip and for secondary aluminum also climbed less than in March. Prices for primary nonferrous metals and for nonferrous wire and cable turned down in April. The index for cement fell more than it had in March. Conversely, prices for hot rolled steel bars, plates, and structural shapes increased 6.2 percent in April compared with a 2.5-percent gain a month earlier. The index for hot rolled steel sheet and strip also advanced at a faster rate than in March. Prices for prepared paint and thermoplastic resins turned up in April.
The index for intermediate foods and feeds declined 0.6 percent in April following a 2.9-percent rise in March. Leading this reversal, prices for prepared animal feeds fell 0.9 percent after increasing 4.9 percent in March. The indexes for flour; beef and veal; natural, processed, and imitation cheese; and confectionery materials also turned down in April. Prices for shortening and cooking oils advanced less than they had in March. By contrast, the index for fluid milk products moved up 2.9 percent in April following a 5.4-percent drop in the previous month. Prices for pork and for dry, condensed, and evaporated milk products also rose after falling in March. The index for malt and malt byproducts climbed more in April than in the preceding month.
The index for materials for nondurable manufacturing increased 1.7 percent in April compared with a 1.5-percent advance in March. Prices for basic inorganic chemicals surged 13.7 percent in April after rising 1.7 percent a month earlier. The indexes for primary basic organic chemicals and ethanol also climbed more than they had in March. Prices for plastic resins and materials, nitrogenates, and woodpulp turned up in April. By contrast, the index for intermediate basic organic chemicals moved up 2.1 percent following a 12.3-percent jump in March. Prices for inedible fats and oils, paper, and paint materials also rose less in April than in the previous month.
The index for materials and components for construction advanced 1.0 percent in April after rising 0.8 percent in March. Prices for fabricated structural metal products jumped 3.1 percent in April following a 1.0-percent increase in the preceding month. The indexes for concrete products and for paving mixtures and blocks also moved up more than they had in March. Prices for plumbing fixtures and brass fittings and for softwood lumber turned up in April. The index for plastic construction products fell less than in March. By contrast, prices for nonferrous wire and cable decreased 3.1 percent in April after surging 7.9 percent a month earlier. The index for prefabricated wood buildings and components also turned down in April. Prices for asphalt felts and coatings and for fabricated ferrous wire products rose less than they had in March.
Crude goods
The Producer Price Index for Crude Materials for Further Processing advanced 3.2 percent in April following an 8.0-percent increase in March. The index for crude energy materials rose at a slower rate compared with a month earlier. Prices for crude foodstuffs and feedstuffs turned down in April. By contrast, partially offsetting the deceleration in crude materials prices, the index for crude nonfood materials less energy moved up more than it had in March.
The index for crude energy materials advanced 4.1 percent in April subsequent to a 13.4-percent gain in the preceding month. Leading this deceleration, the index for crude petroleum increased 4.5 percent compared with a 17.5-percent surge in March. Similarly, natural gas prices rose 4.3 percent following an 11.4-percent increase a month earlier. By contrast, the coal index edged up 0.3 percent in April after falling 0.9 percent in the previous month.
The index for crude foodstuffs and feedstuffs decreased 0.9 percent in April following a 2.0-percent rise a month earlier. Wheat prices declined 23.1 percent after moving up 0.6 percent in March. The indexes for fresh vegetables (excluding potatoes) and soybeans also turned down in April. Prices for corn and slaughter turkeys rose less than they had in March. By contrast, the slaughter hogs index advanced 10.5 percent compared with a 1.8-percent decline in the preceding month. Prices for Irish potatoes for processing also turned up in April. The index for fluid milk declined less than it had in March, and prices for slaughter cattle were unchanged after decreasing a month earlier.
The index for crude nonfood materials less energy advanced 7.9 percent in April subsequent to a 3.5-percent rise a month earlier. Leading this acceleration, prices for iron and steel scrap surged 32.2 percent compared with a 1.4-percent increase in March. The index for logs, bolts, timber, and pulpwood also moved up more than in the previous month. Prices for iron ore increased following no change in March, while the hides and skins index turned up in April. Conversely, the nonferrous metal ores index declined 1.8 percent compared with a 6.9-percent gain a month earlier. Prices for wastepaper; construction sand, gravel, and crushed stone; and raw cotton also turned down in April. The index for nonferrous scrap advanced less than it had in March.
Net output price indexes
Mining, Utilities, and Manufacturing Industries. The rise in the Producer Price Index for the Net Output of Total Mining, Utilities, and Manufacturing Industries slowed to 1.2 percent in April from 2.3 percent in March. (Net output price indexes are not seasonally adjusted.) Prices received by the petroleum and coal products industry group increased 3.3 percent after jumping 13.2 percent in the prior month. The indexes for the food manufacturing and the oil and gas extraction industry groups also rose less than they had in March. Prices received by the electrical equipment and appliance industry group turned down in April after increasing a month earlier. By contrast, partially offsetting the deceleration in the index for total mining, utilities, and manufacturing industries, the index for the electric power generation, distribution, and transmission industry group rose 2.7 percent in April after advancing 0.5 percent in the previous month. Prices received by the chemical manufacturing industry group also increased more than in March. The index for the transportation equipment industry group turned up after falling in the prior month. Prices received by the industry groups for furniture and related products manufacturing and for printing and related support activities advanced after no change in March. In April, the Producer Price Index for the Net Output of Total Mining, Utilities, and Manufacturing Industries was 111.6 (December 2006 = 100), 8.2 percent above its year-ago level.
Trade Industries. The increase in the Producer Price Index for the Net Output of Total Trade Industries accelerated to 1.2 percent from 0.3 percent in March. (Trade indexes measure changes in margins received by wholesalers and retailers.) Margins received by wholesalers of nondurable goods turned up 1.4 percent in April after falling 2.1 percent in the previous month. The margin index for grocery stores also advanced after decreasing in March. Margins received by electronics and appliance stores, gasoline stations, department stores, and clothing stores rose more than a month earlier. By contrast, the margin index for wholesalers of durable goods turned down 1.4 percent in April after advancing 1.9 percent in the prior month. Margins received by furniture stores also decreased after rising in March. In April, the Producer Price Index for the Net Output of TotalTrade Industries was 106.7 (December 2006 = 100), 3.5 percent above its year-ago level.
Transportation and Warehousing Industries. The rise in the Producer Price Index for the Net Output of Total Transportation and Warehousing Industries accelerated to 1.2 percent from 1.0 percent in March. Prices received by the specialized freight trucking industry group rose 4.3 percent following a 0.3-percent increase in the previous month. The industry indexes for long distance general freight trucking (truckload) and pipeline transportation of crude oil also advanced more than in March. Prices received by the industries for scheduled freight air transportation and freight transportation arrangement turned up in April after declining in the preceding month. By contrast, the increase in the industry index for scheduled passenger air transportation slowed to 0.9 percent from 3.3 percent in March. Prices received by couriers and long distance general freight truckers (less than truckload) also rose less than a month earlier. In April, the Producer Price Index for the Net Output for Total Transportation and Warehousing Industries was 110.5 (December 2006 = 100), 7.5 percent above its year-ago level.
Traditional Service Industries. The Producer Price Index for the Net Output of Total Traditional Service Industries turned up 0.7 percent in April after falling 0.6 percent in March. The index for the depository credit intermediation industry group advanced 4.4 percent following a 7.3-percent decrease a month earlier. Prices received by offices of physicians (excluding mental health) also turned up in April, and the index for cellular and other wireless carriers advanced more than in March. Conversely, the increase in the index for general and medical surgical hospitals slowed to 0.1 percent in April from 0.5 percent in the previous month. Prices received by direct health and medical insurance carriers, investment bankers and securities dealers, and software publishers also rose less than in March. The index for passenger car rental turned down after advancing in the prior month. In April, the Producer Price Index for the Net Output of Total Traditional Service Industries was 102.0 (December 2006 = 100), 0.9 percent above its year-ago level.
