stages of processing, prices received by producers of intermediate goods rose 0.3 percent following a 0.5-percent decline a month earlier, and the crude goods index climbed 3.6 percent after rising 3.0 percent in April.
Before seasonal adjustment, the Producer Price Index for Finished Goods increased 0.5 percent in May to 170.8 (1982 = 100). From May 2008 to May 2009, finished goods prices decreased 5.0 percent. Over the same period, the finished energy goods index fell 27.3 percent and prices for finished consumer foods declined 2.1 percent. By contrast, partially offsetting the decrease in finished goods prices, the index for finished goods less foods and energy increased 3.0 percent. At the earlier stages of processing, prices received by manufacturers of intermediate goods moved down 12.5 percent for the 12 months ended May 2009, and the crude goods index decreased 41.1 percent.
Finished goods
The index for finished energy goods turned up 2.9 percent in May after decreasing 0.1 percent in the preceding month. Gasoline prices rose 13.9 percent following a 2.6-percent increase in April. The indexes for residential natural gas, residential electric power, and finished lubricants fell less than they had in the prior month. Prices for liquefied petroleum gas advanced more than in April. Conversely, the rise in the index for diesel fuel slowed to 4.5 percent in May from 17.0 percent a month earlier. Prices for home heating oil and kerosene also increased less than in April.
Prices for finished consumer foods fell 1.6 percent in May following a 1.5-percent advance in the prior month. The index for eggs for fresh use declined 27.0 percent after jumping 43.7 percent in April. Prices for fresh vegetables (except potatoes), raspberries, pork, soft drinks,
and canned specialties also turned down in May. The index for natural cheese (except cottage cheese) fell more than in the previous month. By contrast, prices for beef and veal rose 9.2 percent in May after increasing 4.5 percent a month earlier. Prices for cooked or smoked prepared poultry products declined less than they had in April, and the index for fats and oils turned up in May.
The index for finished goods less foods and energy edged down 0.1 percent in May following a 0.1-percent increase in the prior month. Prices for pharmaceutical preparations declined 0.3 percent after rising 1.3 percent in April. The indexes for perfume, cologne, and toilet water and for household laundry equipment and parts also turned down after advancing a month earlier. Prices for light motor trucks were unchanged subsequent to increases in April. By contrast, the increase in the index for newspaper circulation accelerated to 2.9 percent in May from 0.3 percent in the previous month. Prices for cigarettes and electronic computers were unchanged after declining in April. The indexes for apparel and other fabricated textile products
and for non-wood commercial furniture turned up after falling in the preceding month.
Intermediate goods
The Producer Price Index for Intermediate Materials, Supplies, and Components moved up 0.3 percent in May following a 0.5-percent decline in April. The indexes for intermediate energy goods and for intermediate foods and feeds increased more than in the previous month. Prices for materials for both nondurable and durable manufacturing, as well as for materials and components for construction, declined less than in April. Excluding foods and energy, the index for intermediate goods moved down 0.2 percent in May subsequent to a 0.9-percent decrease in the prior month.
The index for intermediate energy goods advanced 2.0 percent in May after rising 0.7 percent in April. Prices for liquefied petroleum gas climbed 8.6 percent compared with a 5.0-percent gain a month earlier. The increase in the index for gasoline also accelerated in May. Prices for utility natural gas, industrial electric power, and finished lubricants declined less than they had in the previous month. Conversely, partially offsetting the acceleration in the intermediate energy goods index, the increase in the index for diesel fuel slowed to 4.5 percent from 17.0 percent in April. Prices for heating oil also rose less than in the preceding month. The index for jet fuel turned down in May, and prices for commercial electric power fell more than in April.
Prices for materials for nondurable manufacturing moved down 0.3 percent in May following a 1.9-percent decrease in the previous month. The index for phosphates declined 2.0 percent after dropping 31.6 percent in April. Prices for primary basic organic chemicals and for medicinal and botanical chemicals turned up in May after falling a month earlier. The indexes for thermoplastic resins and basic inorganic chemicals declined less than in the preceding month. By contrast, prices for synthetic fibers decreased 5.3 percent compared with a 6.6-percent increase in April. The indexes for thermosetting resins, synthetic rubber, and nitrogenates turned
down as well.
The index for materials for durable manufacturing declined 0.6 percent in May subsequent to a 2.1-percent decrease in April. Prices for hot rolled steel sheet and strip moved down 4.9 percent following a 13.2-percent drop in the prior month. Prices for hot rolled steel bars, plates, and structural shapes; steel pipe and tube; and basic inorganic chemicals also fell less in May. The index for primary nonferrous metals turned up after declining in April. By contrast, the index for copper and brass mill shapes advanced 0.8 percent compared with a 19.5-percent jump in April. Prices for nonferrous wire and cable also increased less than in the previous month. The indexes for synthetic fibers and unfinished softwood lumber (not made from purchased materials) turned down in May after rising a month earlier.
Prices for materials and components for construction inched down 0.1 percent compared with a 0.9-percent drop in April. The index for prefabricated metal buildings moved down 0.7 percent in May following a 6.2-percent decline in the previous month. The indexes for plastic construction products and for steel pipe and tube also declined less in May. Prices for prepared
asphalt and tar roofing and siding products, paving mixtures and blocks, and ready-mixed concrete rose after falling a month earlier. By contrast, prices for nonferrous wire and cable advanced 2.0 percent subsequent to an 8.3-percent gain in April. The index for fabricated structural metal fell more than in the prior month. Prices for unfinished softwood lumber (not made from purchased materials) and for architectural and ornamental metalwork turned down in May.
The increase in the index for intermediate foods and feeds accelerated to 1.3 percent in May from 0.3 percent in the previous month. Prices for prepared animal feeds advanced 3.5 percent after rising 0.2 percent in April. The index for beef and veal also increased more than a month earlier. Prices for fats and oils and for flour turned up in May after falling in the preceding month. The index for cooked or smoked prepared poultry products declined less than it had in the prior month. By contrast, prices for pork dropped 4.3 percent following a 2.5-percent increase in April. The index for natural cheese (except cottage cheese) fell more in May than in the preceding month. Prices for bulk fluid milk and cream were unchanged after climbing in April, and the index for soft drinks turned down subsequent to an increase in the prior month.
Crude goods
The Producer Price Index for Crude Materials for Further Processing increased 3.6 percent in May after rising 3.0 percent in April. Prices for crude nonfood materials less energy moved up after declining a month earlier, and the index for crude energy materials advanced more than it had in April. By contrast, partially offsetting the acceleration in prices for crude goods, the index for crude foodstuffs and feedstuffs increased less in May than it had in the prior
month.
The index for crude nonfood materials less energy rose 6.7 percent in May after declining 0.6 percent in April. Leading this upturn, prices for carbon steel scrap climbed 20.6 percent compared with a 12.6-percent decrease in the previous month. The indexes for gold ores, hides and skins, and wheat also turned up in May. Prices for corn, copper ores, and aluminum base scrap increased more than they had a month earlier. The phosphates index declined less than it had in April. Conversely, the index for copper base scrap moved up 7.5 percent subsequent to a 29.5-percent surge in the prior month. Prices for raspberries turned down in May after rising a month earlier.
Prices for crude energy materials moved up 5.3 percent following a 2.9-percent increase in April. Leading this acceleration, the crude petroleum index surged 18.6 percent in May following a 9.2-percent rise in the prior month. By contrast, prices for natural gas declined 5.7
percent subsequent to a 3.1-percent decrease a month earlier. The coal index advanced 2.0 percent compared with a 3.9-percent increase in April.
The index for crude foodstuffs and feedstuffs moved up 0.4 percent in May following a 4.6-percent advance in the preceding month. Soybean prices rose 9.8 percent after climbing 16.7 percent a month earlier. Prices for slaughter cattle, fluid milk, fresh vegetables (except potatoes), raspberries, and ungraded chicken eggs turned down in May. The index for slaughter barrows and gilts fell more than in the preceding month. Conversely, corn prices increased 10.7 percent following a 1.5-percent advance in April. The index for slaughter chickens also rose more than it had in the prior month. Prices for wheat turned up in May.
Net output price indexes
Mining, Utilities, and Manufacturing Industries. The Producer Price Index for the Net Output of Total Mining, Utilities, and Manufacturing Industries increased 1.1 percent in May following a 0.2-percent rise in April. (Net output price indexes are not seasonally adjusted.) Prices received by petroleum refineries climbed 13.9 percent in May after advancing 11.5 percent in the prior month. The index for the livestock slaughtering industry also rose more than it had in April. Prices received by the industries for electric power generation, transmission, and distribution; poultry and livestock feed manufacturing; and gasoline engine and engine parts manufacturing turned up in May. The indexes for natural gas distribution and phosphatic fertilizer manufacturing fell less than they had in April. By contrast, partially offsetting the faster rate of increase in prices received by mining, utilities, and manufacturing industries, the index for pharmaceutical preparation manufacturing declined 0.4 percent in May following a 1.7-percent rise a month earlier. Prices received by producers of automobiles, light trucks, and utility vehicles and by soft drink manufacturers also decreased after advancing in April. In May, the index for total mining, utilities, and manufacturing industries was 105.2 (December 1986 = 100), 8.0 percent below its year-ago level.
Trade Industries. The Producer Price Index for the Net Output of Total Trade Industries fell 0.9 percent in May following a 0.5-percent decline in April.(Trade indexes measure changes in margins received by wholesalers and retailers.) Leading this faster rate of decrease, margins received by merchant wholesalers of durable goods dropped 1.2 percent after rising at the same rate in April. The margin indexes for general merchandise stores, family clothing stores, pharmacies and drug stores, new car dealers, and for radio, television, and other electronics stores also turned down in May. Conversely, margins received by supermarkets climbed 0.8 percent following a 4.8-percent decline in April. The margin indexes for electronic shopping and mail-order houses and for gasoline stations with convenience stores also turned up in May. Margins received by women's clothing stores decreased less than they had in April. In May, the index for total trade industries was 110.4 (December 1986 = 100), 3.2 percent above its year-ago level.
Transportation and Warehousing Industries. The Producer Price Index for the Net Output of Total Transportation and Warehousing Industries fell 0.7 percent in May after advancing 0.4 percent in April. Leading this downturn, prices received by the scheduled air transportation industry group dropped 6.1 percent in May following a 1.3-percent increase in the previous month. The indexes for local specialized freight trucking of new goods and inland water transportation of freight also declined after rising in April. By contrast, prices received by the United States Postal Service moved up 2.9 percent in May after no change a month earlier. The index for couriers was unchanged after falling in April. Prices received by the general freight trucking industry group and the nonscheduled air passenger chartering industry turned up in May. The index for line-haul railroads increased more than it had in April. In May, the index for total transportation and warehousing industries was 106.3 (December 1986 = 100), 5.7 percent below its year-ago level.
Traditional Service Industries. The Producer Price Index for the Net Output of Total Traditional Service Industries rose 0.5 percent in May, the same as in April. In May, higher prices received by the depository credit intermediation industry group, telecommunication carriers, general medical and surgical hospitals, the accommodation sector, investment bankers and securities dealers, insurance carriers, and the portfolio management industry outweighed lower prices received by the temporary help services industry and by management consultants. In May, the index for total traditional service industries was 102.5 (December 1986 = 100), 0.5
percent above its year-ago level.
